Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Mining News June 11, 2020 09:40:25 PM

Newmont Corp. To Acquire Boleadora Project in Argentina

Paul Ploumis
ScrapMonster Author
As per the agreement, Newmont will pay $1 million in total to Magna.
Newmont Corp. To Acquire Boleadora Project in Argentina

SEATTLE (Scrap Monster): Newmont Corporation announced that it has entered into an agreement with Magna Terra Minerals, Inc. to acquire the Boleadora project in Santa Cruz province, Argentina. The agreement to this effect was signed between Atala Resources S.A.-Magna’s 100% owned Argentine subsidiary and Oroplata S.A.-Newmont’s subsidiary in the country.

As per the agreement, Newmont will pay $1 million in total to Magna. This comprises of an upfront payment of $25,000, followed by six instalments totalling the balance $975,000 payable within six years from the date of the agreement. Also, Newmont has granted a 2% net smelter return royalty to Magna. The royalty can be reduced upon payment of $2.5 million to Magna at any time. The gross royalty payable is being capped at $20 million, the company press release said.

ALSO READ:

Newmont Corp. Announces Revised Gold Output Guidance for 2020

Newmont Corp.'s Attributable Gold Output Soared 20%

Lew Lawrick, president and CEO, Magna Terra commented that the package’s strategic location will benefit Newmont. Furthermore, the company’s proven exploration technologies will add significant value to the project. Incidentally, the acquired project is located around 17 kilometres south-east of Newmont’s Cerro Negro mine. Newmont intends to advance the project in the near term, he added.

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search