The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
The mine has probable reserves of 5 million tons at a grade of 31 carats per 100 tons and inferred resources of 10.3 million tons at 31 carats per 100 tons.
In February, the federal government introduced Bill C-69, which will replace the Canadian Environmental Assessment Act, 2012 with the Impact Assessment Act.