Aviva Agrees Kenya Gold Deal With Lonmin's AfriOre

Aviva CEO Lindsay Reed said on Friday that the West Kenya project would be a key focus for the company.
AfriOre is a wholly-owned subsidiary of South Africa-focused platinum-miner Lonmin.

To earn a 51 percent stake, the Perth-based Aviva would need to spend $3-million over a three-year period. It could then increase its interest to 75 percent by completing a prefeasibility study (PFS), which should demonstrate a pre-tax net present value of not less than $50-million.