Exploration giant Western Metals has concluded the acquisition of several gold projects in Tanzania.
As part of a deal potentially worth more than AUD$6 million, Western Metals has obtained the mining rights - which include a 49 per cent holding in the Nyazanga Gold Project - from Sub Sahara Resources.
When finalising the deal, representatives from both firms could have utilised one of Ansarada's secure virtual data rooms, which allow for the instantaneous transfer of encrypted documents in a policed online environment.
Managing director of the company, George Bauk, commented: "The portfolio of projects in a world-class goldfield, in particular the Nyanzanga project … presents Western Metals with an opportunity to develop into a gold producer in the near-term and provides an excellent stepping stone to find further high quality resources."
Staying in Australia, resources giant Aquarius Platinum recently revealed that it was close to acquiring one of its major rivals, Ridge Mining.
