Agua Rica is a feasibility stage project in the province of Catamarca, Argentina, located about 35km from the Alumbrera mine which is currently operated by Minera Alumbrera.
Minera Alumbrera is a joint venture operation between Xstrata Copper (50% owner), Goldcorp (37.5% ) and Yamana (12.5%).
Under the agreement, Minera Alumbrera holds an exclusive four-year option to acquire Yamana’s interest in the Agua Rica project for cumulative payments made by Goldcorp and Xstrata Copper of $110m.
During the option period Minera Alumbrera will manage the Agua Rica project and fund a feasibility study and all development costs.
The respective ownership interests in Minera Alumbrera will remain unchanged and apply to the Agua Rica project.
