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| Home : Indigenisation Update: Transfer of a Further 20% of Blanket Mine to Indigenous Parties |
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May 24
2012 |
Indigenisation Update: Transfer of a Further 20% of Blanket Mine to Indigenous Parties |
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TORONTO, ONTARIO--(Marketwire - May 24, 2012) - Caledonia Mining Corporation ("Caledonia" or the "Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) is pleased to announce that two further agreements have been signed in respect of the transfer of 20% of the Blanket Mine in Zimbabwe ("Blanket") to two Indigenous Zimbabwean Trusts. These agreements have been made in accordance with the Memorandum of Understanding ("MoU"), which was signed with the Government of Zimbabwe on February 20, 2012, which is acknowledged by its signatories as being a binding agreement, and pursuant to which Indigenous Zimbabweans will acquire an effective 51% ownership of the Blanket Mine for a paid transactional value of US$30.09 million. |
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| Source:http://www.marketwire.com/mw/release.do?id=1661037&sourceType=3 |
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