$MUX Continues to power through the rising U S dollar, The falling GDXJ and the Goldman selling that happening to all stocks this month with record breaking news flow this past week.
McEwen Mining Agrees to Terms for JV Option in Nevada With Rio Tinto Subsidiary
September 06 2022 - 06:51AM
Dow Jones News
Alert
Print
Share On Facebook
By Adriano Marchese
McEwen Mining Inc. said Tuesday that it has signed an option to become a majority joint-venture partner with mining major Rio Tinto PLC in Nevada.
The Canadian gold and silver producer said that it has entered into a binding term agreement with Rio Tinto's subsidiary, Kennecott Exploration Co., for an option to earn a 60% interest in the Elder Creek property.
To exercise the option, McEwen would have to pay $18 million, after which the two parties would form an unincorporated joint venture where McEwen would be the largest partner, and Kennecott would be the project operator.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
McEwen, Rio Tinto to jointly develop copper project in Nevada
Cecilia Jamasmie | September 6, 2022 | 5:22 am Markets News Canada USA Copper
McEwen, Rio Tinto to jointly develop copper project in Nevada
McEwen Copper also owns Los Azules copper project in San Juan, Argentina. (Image courtesy of McEwen Mining.)
McEwen Copper, a subsidiary of McEwen Mining (NYSE, TSX: MUX), has inked a deal with Rio Tinto (ASX, LON: RIO) that gives the global miner an option to become a majority joint venture partner in the Elder Creek project, in Nevada.
To exercise the option, Rio’s subsidiary Kennecott Exploration would have to invest $18 million over a maximum of seven years. After that the two companies would form an unincorporated joint venture where Kennecott would be the largest partner and project operator.
Sign Up for the Copper Digest
Elder Creek is an early-stage copper-gold porphyry project, located about 9 km from SSR Mining’s Marigold mine complex in northern Nevada.
It consists of 577 unpatented mining claims in Nevada, which is prospective for porphyry copper mineralization and well placed in a district hosting several large copper and gold mines, including Marigold, Lone Tree and Phoenix.
McEwen holds a 1.25% net smelter return royalty on all the claims that comprise the Elder Creek property.
The company also owns Los Azules copper project in San Juan, Argentina. This is an advanced large-scale porphyry copper exploration project located in the Andean Cordillera copper belt, about 90 km (56 miles) north of Glencore’s El Pachón project and near the border with Chile.
the flashbulbs are on you $MUX[/b]
Go $MUX.........
.....Go Green...............
Go McEwen Copper.........
J:D
McEwen Mining Agrees to Terms for JV Option in Nevada With Rio Tinto Subsidiary
September 06 2022 - 06:51AM
Dow Jones News
Alert
Share On Facebook
By Adriano Marchese
McEwen Mining Inc. said Tuesday that it has signed an option to become a majority joint-venture partner with mining major Rio Tinto PLC in Nevada.
The Canadian gold and silver producer said that it has entered into a binding term agreement with Rio Tinto's subsidiary, Kennecott Exploration Co., for an option to earn a 60% interest in the Elder Creek property.
To exercise the option, McEwen would have to pay $18 million, after which the two parties would form an unincorporated joint venture where McEwen would be the largest partner, and Kennecott would be the project operator.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
McEwen, Rio Tinto to jointly develop copper project in Nevada
Cecilia Jamasmie | September 6, 2022 | 5:22 am Markets News Canada USA Copper
McEwen, Rio Tinto to jointly develop copper project in Nevada
McEwen Copper also owns Los Azules copper project in San Juan, Argentina. (Image courtesy of McEwen Mining.)
McEwen Copper, a subsidiary of McEwen Mining (NYSE, TSX: MUX), has inked a deal with Rio Tinto (ASX, LON: RIO) that gives the global miner an option to become a majority joint venture partner in the Elder Creek project, in Nevada.
To exercise the option, Rio’s subsidiary Kennecott Exploration would have to invest $18 million over a maximum of seven years. After that the two companies would form an unincorporated joint venture where Kennecott would be the largest partner and project operator.
Sign Up for the Copper Digest
Elder Creek is an early-stage copper-gold porphyry project, located about 9 km from SSR Mining’s Marigold mine complex in northern Nevada.
It consists of 577 unpatented mining claims in Nevada, which is prospective for porphyry copper mineralization and well placed in a district hosting several large copper and gold mines, including Marigold, Lone Tree and Phoenix.
McEwen holds a 1.25% net smelter return royalty on all the claims that comprise the Elder Creek property.
The company also owns Los Azules copper project in San Juan, Argentina. This is an advanced large-scale porphyry copper exploration project located in the Andean Cordillera copper belt, about 90 km (56 miles) north of Glencore’s El Pachón project and near the border with Chile.
the flashbulbs are on you $MUX[/b]
Go $MUX.........
.....Go Green...............
Go McEwen Copper.........
J:D
1
