https://www.miningweekly.com

Titan inks $120m Ecuador deal with Hancock unit

18th September 2024

By: Creamer Media Reporter

     

Font size: - +

Australia-based Titan Minerals has announced a binding deal with a subsidiary of Gina Rinehart’s Hancock Prospecting to acquire up to an 80% interest in the Linderos copper project, in Ecuador.

Hanrine will earn an initial 5% interest in the Linderos project by paying $2.01-million and can earn up to an 80% interest in the copper project by either achieving specific exploration milestones and proceeding to a decision to mine or by sole funding up to $120-million.

“The joint venture and earn-in agreement represent endorsement of what we believe is an exciting early-stage porphyry copper/gold discovery,” said CEO Melanie Leighton.

She said technical discussions between Titan and Hanrine were well advanced to start exploration activities at the project, with the first priority being the expansion of the camp to ensure efficient operations once drilling started.

Hanrine, Leighton added, had a well-established team in-country with the technical capability and financial capacity to advance the project.

 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

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 0.981s - 128pq - 2rq
Subscribe Now