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Minsur to Acquire Lara Copper Project in Peru

Mining News - Published on Wed, 29 Jul 2020

Image Source: Lara Copper Minsur
Lara Exploration Ltd reported that it has, with partner Global Battery Metals Ltd, signed an Option and Royalty Agreement for the sale of the Lara Copper Project for USD 5.75 million and a 1.5% NSR royalty to Minsur SA. The Lara Copper Project comprises mineral rights covering a partly defined copper-molybdenum porphyry deposit, located in the Laramate Province of the Ayacucho Department, approximately 40km inland from the town of Palpa on the Panamerican Highway. The Project is registered in the name of Minas Dixon SA, which is in turn owned 55% by GBM and 45% by Lara.

Under the terms of the Agreement Lara and GBM have granted Minsur an exclusive option to acquire a 100% interest in the Project by making staged cash payments of USD 5.75 million, based on permitting milestones, as summarized in the following table:

Minsur is a Peruvian tin and gold miner that is in the late stages of building the USD 1.6 billion capex Mina Justa open pit copper mine near Marcona, in the same district as the Lara project.

Source :

Posted By : Yogender Pancholi on Wed, 29 Jul 2020
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