Two major gold mining companies, AngloGold Ashanti and Gold Fields, have decided to pause talks about combining their neighboring mines in Ghana.
The proposed joint venture would have created a massive operation producing 900,000 ounces of gold annually in its first five years.
While both companies still consider the merger “compelling,” they’ve chosen to refocus on their individual operations for now.
The joint venture would have given Gold Fields 60% ownership, AngloGold 30%, and the Ghanaian government 10%.