Franco-Nevada to add to its Cobre Panama precious metals stream

Franco-Nevada is pleased to announce that its wholly-owned subsidiary, Franco-Nevada (Barbados) Corporation (“FNB”), has agreed with First Quantum Minerals Ltd. (“First Quantum”) to terms for an additional precious metals stream from the Cobre Panama project for a purchase price of US$178 million. FNB may syndicate one-third of the transaction to a third party and the transaction is subject to final documentation.¹ First Quantum intends to use the proceeds to partially fund its previously announced acquisition of an additional 10% interest in Cobre Panama from one of its joint venture partners, LS Nikko Copper Inc.²
As quoted in the press release:

“We are pleased to support our partner and increase our interest in the Cobre Panama project,” said David Harquail, CEO of Franco-Nevada. “First Quantum has made tremendous progress de-risking the project and advancing it toward commissioning in late 2018.”

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