The Minerals Income Investment Fund bought about $20 million worth of shares last week in the Toronto- and Frankfurt-listed Asante Gold Corporation, which operates Ghana’s Bibiani Gold Mine.
Edward Koranteng, the fund’s chief executive, told Reuters in an interview on Wednesday that the Asante purchase was only the first step in a wider push for positions in high-yielding mines in Ghana and abroad. This year, the fund has particular interest in industrial salt companies, which Koranteng says could become major suppliers to the region’s numerous gas and oil wells.
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