Business
Joint Venture Agreement
Joint Venture Agreement.
About this update from Antofagasta Plc
[{"type":"text","content":"\n Antofagasta PLC\n14 July 2006\n\n\n Antofagasta plc\n\n Antofagasta to form new joint venture with AngloGold in Colombia\n\nLondon, 14 July 2006\n\nAntofagasta plc is pleased to announce that its subsidiary, Antofagasta Minerals\nS.A. ('Antofagasta'), has signed a Head of Terms agreement with AngloGold\nAshanti Limited ('AngloGold'), one of the world's largest gold producers. This\nagreement sets out the terms of a proposed joint venture, the Southern Colombia\nJoint Venture ('the JV'), to explore, discover, and develop copper and gold\nmining projects in an area of interest in southern Colombia extending\napproximately 30,000 square kilometres.\n\nUnder the agreement, AngloGold will contribute its mineral interests in the area\ncovered by the JV and Antofagasta will commit to funding US$1.3 million in\nexploration over a period of one year. Antofagasta may elect to fund an\nadditional US$6.7 million in exploration within four years (representing a total\ncontribution of US$8.0 million), in order to earn a 50% interest in the JV.\n\nMarcelo Awad, CEO of Antofagasta, commented, 'This agreement further strengthens\nAntofagasta's exploration activities in Latin America, its primary region of\nfocus, and represents a further step forward in our strategy of expanding\ninternationally.'\n\n\nEnquiries - London Enquiries -Santiago\n\nAntofagasta plc Antofagasta Minerals S.A.\nTel: +44 20 7808 0988 Tel +562 377 5070\nwww.antofagasta.co.uk \n Ricardo Muhr\nDesmond O'Conor Email:[email protected]\nEmail: [email protected] \n\n Issued by\nHussein Barma Bankside Consultants\nEmail: [email protected] Tel: +44 20 7367 8873\n \n Keith Irons\n Email: [email protected]\n Oliver Winters\n Email: [email protected]\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2823,"tagName":"div"}]