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Published by
Joe Toft,
Editorial Assistant
Global Mining Review,
Monday, 12 September 2022 15:00
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:
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