African Barrick transfers asset
African Barrick Gold, the FTSE 250-listed miner, said yesterday that it has completed the transfer of the Tulawaka project and certain exploration licences to Stamico, the Tanzanian state mining company. Stamico will take ownership and management of the rehabilitation fund established as part of the closure plan for that mine. As a result ABG has transferred the balance of the rehabilitation fund to Stamico, which equates to a cash payment of $11.6m.