https://www.miningweekly.com

Finland-focused Karelian Diamonds says Rio Tinto agreement lapses

1st July 2020

By: Creamer Media Reporter

     

Font size: - +

Aim-listed Karelian Diamonds said on Wednesday that a confidentiality agreement that it entered into with Rio Tinto Mining and Exploration in 2010, had lapsed.

Under the agreement, Rio Tinto has been disclosing to Karelian confidential information relating to exploration in Finland for the purpose of Karelian considering that information in relation to the company’s potential and existing exploration programmes in the country.

In consideration of Rio Tinto disclosing the confidential information to it, Karelian had agreed that the major would have the option to earn a 51% interest in any project identified by Karelian in Finland.

“As of today’s date, Karelian Diamonds and Rio Tinto have not entered into a further extension on the agreement and as a result the agreement, including the back-in rights, has subsequently lapsed as of today,” the exploration company said in a statement.

Karelian Diamonds is considering the best means to progress its exploration programme and in particular progress operations at Lahtojoki and Kuhmo.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.074s - 111pq - 2rq
Subscribe Now