Australia’s Newcrest Mining Ltd has an-nounced it completed its takeover of a 70% stake in the Red Chris copper-gold porphyry mine in Canada from Imperial Metals Corpora-tion which remains a stakeholder in the mine, with a 30% stake.
“Red Chris is a copper-gold porphyry mine with an operating open-pit mine and Mineral Resources of 20 million ounces of gold and 13 billion pounds of copper,” Newcrest Mining said in a statement. “The acquired property comprises 23,142 hectares of land with 77 mineral tenures, five of which are mining leases”.
The mine is located in Canada’s British Columbia.