Vancouver-based EMX Royalty Corporation has signed a deal to obtain a 0.418 percent net smelter return (NSR) from the Caserones copper-molybdenum mine in Chile. The contract is worth some US$34.1 million.
“The Caserones open pit mine is developed upon a significant porphyry copper-molybdenum deposit in the Atacama Region of the northern Chilean Andean Cordillera, 162 kilometers southeast of the city of Copiapó, at an approximate elevation of 4,300 meters above sea level. The Mine is operated by SCM Minera Lumina Copper Chile SpA, which is indirectly 100% owned by JX Nippon Mining & Metals Corporation,” EMX Royalty said in a statement.
To secure an NSR on the asset, which is located in Chile’s northern part, EMS Royalty has formed a 50-50 partnership with Altus Strate-gies, according to the statement. Under this agreement, Altus Strate-gies will also control a 0.418 percent NSR in the Chilean mine, paying US$34.1 million for its stake.