Taseko pays C$60m for additional stake in Gibraltar copper Canada mining
Base metals miner Taseko on Wednesday announced a C$60-million transaction to buy an additional 12.5% interest in the Gibraltar copper mine, in Canada.
The acquisition price consists of a minimum of C$60-million payable over a five-year period and potential contingent payments depending on Gibraltar mine revenues and copper prices over the next five years. An initial C$10-million will be paid to Sojitz upon closing and the remaining minimum amount will be paid in C$10-million yearly instalments over the next five years.
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