Deal with Luminex gives Anglo the right to earn a 60% ownership interest in a JV company, which indirectly holds three copper and gold concessions in Ecuador.
Lumina Gold Mining News
Companies can now perform non-systematic drilling during the early exploration phase of their mining concessions and without requiring an environmental license.
Results of the Preliminary Economic Assessment show Cangrejos is one of the world's top 15 undeveloped gold projects based on its average annual production potential.
First Quantum will invest $1.5 million to advance exploration work at the Orquideas and Cascas assets in the first year, with the option of investing an additional $37 million over the course of the subsequent four years covered by the deal.
Originally planned to raise $15M.