McEwen Copper options Elder Creek Project to Rio Tinto
Published by Joe Toft,
Editorial Assistant
Global Mining Review,
McEwen Copper Inc, a subsidiary of McEwen Mining Inc, has entered into a binding term sheet with Kennecott Exploration Company (KEX), a subsidiary of Rio Tinto.
The binding term sheet is for an option to earn a 60% interest in and joint venture the Elder Creek property in Nevada by spending US$18 million.
The principal terms of the agreement are:
- KEX will have the right to earn a 60% interest in Elder Creek by investing US$18 million over a maximum of seven years.
- KEX will be the operator of the Elder Creek project during the term of the agreement.
- Following completion of the expenditure commitment, KEX and McEwen Copper will form an unincorporated 60:40 joint venture.
- Other customary representations, warranties, and conditions.
Read the article online at: https://www.globalminingreview.com/mining/12092022/mcewen-copper-options-elder-creek-project-to-rio-tinto/
You might also like
Komatsu and SMS Equipment debut the first PC9000 in Canada
Komatsu Germany Mining Division and SMS Equipment unveiled the first Komatsu PC9000 hydraulic mining excavator during an official handover ceremony at Suncor’s Fort Hills mine in Canada.
