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Article: IMA Concludes Significant Agreement with Rio Tinto.
- Article from:
- Business Wire
- Article date:
- March 8, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
VANCOUVER, B.C.--(BUSINESS WIRE)--March 8, 2001
IMA Exploration (CDNX:IMR.)
Mr. Joseph Grosso, President and CEO, is pleased to announce that IMA Exploration Inc. ("IMA") has entered into an agreement with Rio Tinto Mining and Exploration Limited, Sucursal Argentina ("Rio Tinto") whereby Rio Tinto has an option to earn an interest in the Mogote copper-gold exploration project in Argentina.
Under the terms of the agreement, Rio Tinto has been granted an option to acquire up to a 70% interest in Mogote, exercisable upon Rio Tinto completing work expenditures totaling US$8.85 million over an 8 year period.