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FIRB approves Alacer asset sale

25th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The Foreign Investment Review Board has approved the sale of ASX- and TSX-listed Alacer Gold’s Australian business unit to a subsidiary of ASX-listed Metals X.

Last month, the gold miner agreed to sell its Australian assets to Metals X for A$40-million in cash, after warning that it would place the mines on care and maintenance if a buyer could not be secured.

The Australian assets include the Higginsville and South Kalgoorly operations, which were earmarked to deliver a combined production of between 168 000 oz and 187 000 oz for the 2013 financial year.

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