Anglo Pacific has announced that it has entered into an agreement with Entrée Resources to acquire an existing 0.5 percent net smelter return royalty over the Cañariaco Copper project in Peru.
Anglo Pacific (LSE:APF,TSX:APY) has announced that it has entered into an agreement with Entrée Resources (TSX:ETG) to acquire an existing 0.5 percent net smelter return royalty over the Cañariaco Copper project in Peru.
The Cañariaco project is 100 percent owned by Candente Copper (TSX:DNT), a Toronto Stock Exchange listed company.
Anglo Pacific listed these highlights of the project in its press release:
- Attractive copper demand outlook
- Sizable Cañariaco Norte resource base:
- Long mine life – Cañariaco Norte estimated mine life of 22 years with extension potential;
- Substantial upside – Cañariaco Sur and Quebrada Verde integration potential;
- Expected to be a low-cost operation, no firm timeline for development as yet;
- Established mining jurisdiction – located in an area of Peru with producing mines and projects owned by Gold Fields (JSE:GFI)., Newmont Mining (NYSE:NEM)., Rio Tinto (ASX:RIO), and Southern Copper (NYSE:SCCO). amongst others; and,
- Further diversifies Anglo Pacific’s development stage royalty portfolio mix.