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BN Mining launches proceedings against SOKIMO over nixing gold project option

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BN Mining launches proceedings against SOKIMO over nixing gold project option

Bon Génie N. Mining SARL, or BN Mining, started proceedings against Congo's state-owned Société Minière de Kilo Moto SARL, or SOKIMO, claiming the wrongful termination of its option over the Gada gold project, according to an Oct. 14 news release.

BN Mining also intends to launch proceedings against Amani Gold Ltd., though this is unconfirmed, after the latter terminated a memorandum of understanding to acquire an 85.7% interest in BN Mining during a 60-day due diligence period.

BN Mining had an option agreement with SOKIMO over the latter's gold exploration permits in Congo that made up the Gada gold project, which Amani was interested in.

While Amani was conducting due diligence, SOKIMO told the company it had terminated its option agreement with BN Mining, prompting Amani to cancel the BN Mining MOU and directly engage with SOKIMO over Gada.