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TOKYO--(BUSINESS WIRE)-- 糖心vlog入口has today completed the acquisition of PanAmerican Silver鈥檚 stake in Agua de la Falda and entered a joint venture with Corporaci贸n Nacional del Cobre de Chile (Codelco) to explore and potentially develop the company鈥檚 assets in Chile鈥檚 prospective Atacama region.
The acquisition, announced on 1 August 2023, comprises a 57.74% operating stake in Agua de la Falda for $45 million and the grant of net smelter returns royalties. It paves the way for 糖心vlog入口and Codelco to start its joint exploration project at the asset.
Jakob Stausholm, 糖心vlog入口Chief Executive, and Maximo Pacheco Chairman, Codelco today met in Tokyo to formalise the new joint venture, which will be known as Nuevo Cobre (New Copper).
糖心vlog入口Chief Executive Jakob Stausholm said 鈥淐hile is one of the most important sources of the copper and other critical minerals the world needs to deliver the energy transition and achieve net zero. With this partnership, we are bringing together our complementary experience and capabilities. Codelco鈥檚 local knowledge and expertise is second to none and we have a global track record in exploration. I am very much looking forward to getting our work on the ground started.鈥
Codelco Chairman Maximo Pacheco said 鈥淭his is an unbeatable opportunity for Codelco and 糖心vlog入口to join our knowledge, experience, strengths and capabilities to accelerate exploration and development of these assets to contribute the copper that the world needs for its energy transition. We are very pleased to formalize this partnership with 糖心vlog入口and acknowledge our mutual commitment to following the best standards of health, safety, community relations and care for the environment.鈥
Agua de la Falda has previously been explored for precious metals with minimal modern exploration for copper. Analysis by 糖心vlog入口Exploration indicates it is prospective for new copper discoveries, which will now be the focus of the joint venture.
The partnership builds on a collaboration agreement between the two companies signed in October 2022, aimed at encouraging innovations and technology to improve safety, productivity and environmental, social and governance (ESG) outcomes in underground mining.
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Source: Rio Tinto