trending Market Intelligence /marketintelligence/en/news-insights/trending/xtbbcbsf37d4oe2hurqnlg2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Teck, Queensland Mining ink option, JV deal over White Range copper project

L.K. Bennett: Bankruptcy Case Study

State Of Singapore Online Video Subscription

Power Forecast Briefing: Capacity Shortfalls to Test the Renewable Energy Transition

Episode 43 - More Change, M&A On Horizon For Equity Research Industry


Teck, Queensland Mining ink option, JV deal over White Range copper project

Queensland Mining Corp. Ltd. and its subsidiaries Sierra Line Pty. Ltd. and Mt. McNamara Pty. Ltd. inked an option and joint venture agreement with Teck Resources Ltd. unit Teck Australia Pty Ltd. on the White Range copper project in Queensland.

Under the agreement, Teck was granted an option to earn a 70% interest in the White Range #1, Kuridala South, White Range Consolidated and Copper Canyon East tenements.

Teck may elect to exercise the option by spending A$500,000 on exploration within 18 months from March 31, 2017, and an aggregate A$3.8 million on exploration within four years from the option exercise.

Upon Teck exercising the option, the companies will participate in further exploration and development of the tenements under a contractual 70/30 joint venture.

According to Queensland Mining's Dec. 20 news release, Teck will have a 70% interest in the joint venture with Queensland Mining and its subsidiaries taking an initial 30% interest.

Each participant will cover costs and liabilities incurred by the joint venture proportionate to its interest. If either company's interest decreases below 10%, a 5% net profits conversion royalty will be applied.