Business
Norsemont Mining Acquires Mitsui's 30 Percent Interest in Constancia Copper Project
Norsemont Mining Acquires Mitsui's 30 Percent Interest in Constancia Copper Project.
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nRio Tinto Option Provides Norsemont with Opportunity to Control 100% of\n\n\nConstancia Project in Southern Peru\n\n\nShares Issued and Outstanding: 37,912,878\n\n\nTSX: NOM\n\n\nVANCOUVER, BC, and LIMA, Peru, Nov. 1 /CNW/ - Norsemont Mining Inc. ("the\nCompany") (TSX: NOM, BSM: NOM) today announced the conclusion of an agreement\nwhereby the Company has acquired Mitsui's 30 percent interest in the\nConstancia copper/moly/silver project in southern Peru. Combined with\nCompany's option over Rio Tinto's 70 percent interest in the Constancia\nproject, this agreement provides Norsemont with the opportunity to establish\ncontrol over 100 percent of the Constancia project.\n\n\nUnder the acquisition agreement with Mitsui, the Company will pay Mitsui\na total consideration of US$9.8M over the next twenty months, with the final\npayment due by June 30, 2009.\n\n\nAbout Norsemont Mining\n\n\nNorsemont Mining is a Canadian mineral exploration and development\ncompany focused on the Constancia Cu-Mo-Ag deposit in southern Peru, which has\nbeen optioned from Rio Tinto Plc.\n\n\n","length":1163,"tagName":"div"}]