🕐06.10.14 - 22:54 Uhr
FRANCO-NEVADA TO ACQUIRE A GOLD & SILVER STREAM ON CANDELARIA FROM LUNDIN
MINING FOR US$648 MILLION
Franco-Nevada to Acquire a Gold & Silver Stream on Candelaria from Lundin
Mining for US$648 million
*Published date : 2014-10-6*
Franco-Nevada Corporation (TSX: FNV; NYSE: FNV) today announced that it has
agreed to acquire a gold & silver stream on production from the Candelaria
and Ojos del Salado mines (collectively “Candelaria”) located in Chile
from Lundin Mining Corporation (“Lundin”) upon the completion of the
acquisition of Candelaria by Lundin from Freeport-McMoRan Inc.
(“Freeport”). Candelaria is currently owned 80% by Freeport and 20% by
Sumitomo Corporation and Sumitomo Metal Mining Co., Ltd.
(collectively
“Sumitomo”).
Lundin announced today that it has agreed to acquire
Freeport’s 80% interest in Candelaria for US$1.8 billion and Sumitomo will
continue as a 20% partner. Franco-Nevada will provide an up-front deposit
of US$648 million to acquire a gold & silver stream and Franco-Nevada has
agreed to subscribe for up to C$50 million in Lundin’s planned subscription
receipts financing.
Click to read press release
http://www.franco-nevada.com/files/Franco_Nevada_Press_Release_Oct_6_1.pdf
*Stefan Axell*
Director, Corporate Affairs
416-306-6328
mailto:
*Sandip Rana*
Chief Financial Officer
416-306-6303
mailto: TSX:*FNV* NYSE:*FNV*
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Franco-Nevada Corporation
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