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Australian miner Resolute sells Queensland gold pit for £159m

Jan 16, 2020 - City A.M.
Mergers and Acquisitions

AUSTRALIAN miner Resolute has sold its Ravenswood gold pit in Queensland to a consortium of buyers for AU$300m (£159m).

The dual-listed firm said the consortium, which is made up of EMR Capital and Golden Energy and Resources, was committed to the development of the mine, which has produced nearly 2m ounces of gold since 2004.

The sale of the mine fits with Resolute's aim of switching its attention to becoming a low-cost, multi-mine African-focused gold producer.

On Monday Res...