Anglo American has sealed agreements to sell two royalties to Taurus Funds Management for a maximum cash consideration of $195m.
Anglo American Announces $195-Million Sale of Onslow & Caspiche Royalties
Main Facts About the Copper Market as Prices Hit Record Highs (Reuters)
Copper surged to record highs on Monday as a recent rally triggered by short covering created momentum for speculators and funds to bet on higher prices of the metal.
Below are the main facts about the copper market, sourced from the International Copper Study Group (ICSG), the International Copper Association (ICA), and Reuters data.
Copper hits US$10,000 as Goldman Sachs warns of supply risk
- Bank raises year-end copper estimate to $12,000 a ton
- Chinese industry body sees demand destruction due to rally
Barrick & Newmont JV Norte Abierto (Cerro Casale & Caspiche) Progressing
The Norte Abierto mining project , a joint venture between Barrick and Newmont in equal parts, is promoting a new initiative that was recently submitted to the Environmental Assessment Service (SEA). This is the ” Mining Prospecting Sector Casale ” project, which estimates an investment of US$52 million .
Lundin Mining: “VICUÑA: A GIANT DISTRICT IN THE MAKING”
Lundin Mining Report: A giant metal district, comprised of giant deposit clusters, is extremely rare.
Giant metal districts occur only when many exceptional and unusual geological processes coincide in one place to produce an extraordinary concentration of metals.
Major mining companies were all built around the control of one or more of the world’s great giant metal districts. They are considered the holy grail of the mining industry and the essential building block of any globally significant mining company. Well known examples of these giant metal districts include Escondida (BHP), Chuquicamata and El Teniente (Codelco); Grasberg (Freeport).
Lundin Mining buys 51% stake in Chile’s Caserones mine for $950 mln (Reuters)
Lundin Mining Corp (LUN.TO) on Monday said it would buy a majority stake in Chile’s Caserones copper mine for about $950 million to expand the Canadian miner’s exposure to the red metal crucial for the green energy transition.
Lundin Mining signed an agreement with JX Nippon Mining & Metals Corp to acquire a 51% stake in Lumina Copper, which operates the Caserones copper-molybdenum mine in Chile. JX is a unit of Japanese oil and metals giant Eneos Holdings Inc (5020.T).
Vicuña: An emerging giant copper-gold-silver district (Lundin Mining)
“The central Andes produce 37% of global copper. Giant in size, rare by nature, Vicuña is an emerging giant-copper-gold-silver district…” Click below to access full video.
Barrick Confirms Commitment to Chile as It Reviews Its Latin American Strategy
Barrick confirms commitment to Chile as CEO Mark Bristow says “Barrick’s Chilean assets an important part of its global portfolio.”
Barrick, Goldcorp Team Up to Develop One of World’s Largest Gold Deposits in Chile
Norte Abierto Joint Venture is established comprised of two massive gold-copper assets, Cerro Casale & Caspiche, with Barrick and GoldCorp as 50/50 equal partners.
Barrick Acquires 25% of Cerro Casale at $1.9-Billion Asset Valuation
TORONTO, March 31, 2010 — Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) announced today that its acquisition of an additional 25% interest in the Cerro Casale Project in Chile from Kinross Gold for $474-million.