Altius, Anglo American Enter Natashquan Joint Venture

Altius Minerals Corp. (TSX:ALS) announced that it has entered a joint venture with Anglo American plc (LSE:AAL) regarding its Labrador, Canada-based Natashquan nickel-copper-cobalt-platinum-palladium.

As quoted in the press release:

With an initial spend of $650,000 in 2013, Anglo American has the option to earn a 66% interest in the project, through agreed additional expenditures of $20 million over a five year period. Upon declaring a JV, Altius will also be granted a 1% net smelter returns (NSR) royalty. Anglo American will be the operator during the earn-in phase and the initial manager to the JV. Plans are in progress to commence a multifaceted field program in July.

Click here to read the full Altius Minerals Corp. (TSX:ALS) press release.