Asec to run gold mine in Algeria

Egypt-based Asec Mining has said it will plan and manage operations of an Algerian gold mine held by GMA Resources, following a deal to buy 10% of the company, Reuters has reported. The acquisition aims to leverage Asec's relative liquidity and continue its expansion into North Africa, Asec said. Asec has broad operations in geology, mining and manufacturing across the Mena region and manages gold mining and exploration projects in Sudan, Ethiopia and Libya.