Gold miner Avocet to sell Burkina Faso assets

Struggling miner Avocet Mining Plc said it would sell its assets in Burkina Faso for $5 million to Ghana-based Balaji Group, staving off potential a bankruptcy for its units in the West African country. The sale, which includes the Inata gold mine and the Souma exploration project, is part of a larger restructuring involving Avocet's overdue loans totaling $28.7 million to creditor Manchester Securities Corp.