Mozambique: South Africa’s Aflease acquires Mozambican gold concession

4 December 2008

Johannesburg, South Africa, 4 Dec – South African mining firm Aflease announced Tuesday in Johannesburg it has acquired the Tulo gold concession in Mozambique’s Niassa gold belt.

Aflease Gold obtained the concession by acquiring 100 percent of Mozambique-registered Noble Trade and Commerce for 6 million rands, paid in shares and royalties.

Aflease chief executive Neal Froneman said the Tulo concession lies in a highly favorable area for production of significant results.

Aflease Gold will become known as Gold One International following its merger with Australia’s BMA Gold and presently operates the Modder East gold mine at Witwatersrand in South Africa. (macauhub)