Antilles Gold Offers US Investors Controlling Cuba Mine Stake for Sanctions Relief
Updated
Updated · Bloomberg · Jul 7
Antilles Gold Offers US Investors Controlling Cuba Mine Stake for Sanctions Relief
3 articles · Updated · Bloomberg · Jul 7
Summary
Antilles Gold said it has proposed selling a controlling interest in its Cuba gold-mine joint venture to acceptable US investors to secure relief from US sanctions.
Chairman Brian Johnson submitted the plan to the US Department of State, offering to transfer control of the joint-venture vehicle rather than merely add a minority partner.
The company said it was encouraged by the Trump administration's response, signaling it sees a possible path to keeping the project alive under a new ownership structure.
The proposal underscores how sanctions are shaping foreign mining investment in Cuba, forcing Antilles to seek a US-backed solution for a project it cannot freely operate.