TORONTO – First Uranium (TSX:FIU) said Monday it has sold its South African-based Elzuwini Mining Co. to Gold One International for US$70 million.
The transaction is expected to close June 29, First Uranium said in a news release.
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First Uranium Corp. recently announced it also has signed a deal to sell its Mine Waste Solutions tailings recovery operation in South Africa and wind up operations there.
The company said AngloGold Ashanti Ltd. has agreed to pay $335 million for Mine Waste Solutions.
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AngloGold Ashanti is the largest shareholder in First Uranium, with a roughly 19.8 per cent stake in the company.
Both deals will require the approval of shareholders as well as creditors.
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