The Minerals Income Investment Fund (MIIF) says it is redesigning its strategy for listing its wholly owned subsidiary Agyapa Royalties on the London Stock Exchange and the Ghana Stock Exchange after being named the best financial institution in the mining sector by the French-based publication Forbes Monaco.
Forbes recognised MIIF’s strategic acquisition of over 14 million shares and a roughly 4.65% stake in Asante Gold Corporation, a Canadian- and Frankfurt-listed gold production company which operates in Ghana.
The Forbes Monaco award is given to financial institutions which concentrate specifically on providing financial platforms and funding solutions to the mining sector.
The acquisition – which, together with the Government of Ghana’s carried interest and existing Ghanaian shareholders, would increase Ghana’s shareholding to more than 25% – is a first for the country in a multi-listed international gold mining company.
Asante is currently in negotiation with Kinross Chirano to acquire 90% of the Chirano mine in the Western Region of Ghana, which would further increase Ghana’s stake in the gold mining sector.