Twin Cities reported today that Talon Metals Corp. (TSX:TLO) has plans to buy at least 30 percent of Kennecott Mining’s Tamarack project near Tamarack Minnesota. That support will help Kennecot’s proposed copper-nickel-platinum mine move forward, according to Twin Cities.
As quoted in the publication:
Talon will pay $7.5 million for the initial 30 percent stake in the Tamarack project and has agreed to spend another $30 million for additional exploration during the next three years. Utah-based Kennecott has spent the past 14 years obtaining mineral rights and drilling test borings across the boggy terrain located about 45 miles west of Duluth, but the project had been on the back burner for several years with little or no activity.
| Updated December 2015
Get Our Expert Guide to Copper Investing FREE!Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.