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Article: Xstrata Copper announces Divestment of its 70% interest in El Morro.
- Article from:
- M2 Presswire
- Article date:
- October 12, 2009
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M2 PRESSWIRE-12 October 2009-Xstrata Copper: Xstrata Copper announces Divestment of its 70% interest in El Morro(C)1994-2009 M2 COMMUNICATIONS
RDATE:12092009
Santiago, -- Xstrata Copper announces that its subsidiary Xstrata Copper Chile SA has entered into a formal sale agreement with Barrick Gold Corporation for Xstrata's 70% interest in El Morro SCM, the holder of the El Morro copper-gold project, and associated rights and assets, for a total cash consideration of US$465 million. The transaction remains subject to several conditions before completion and is expected to close prior to 30 January 2010.
Xstrata Copper Chief Executive Charlie ...