Vancouver-based International Musto Explorations (TSE) has received offers both to joint-venture and, alternatively, sell its interest in the Bajo de la Alumbrera gold-copper deposit in Argentina.
A feasibility study estimates US$550 million would be required to develop the project, situated in the northwestern province of Catamarca. Musto expects to sign a letter of intent with the successful bidder very soon, following which it will meet with the Argentine government and make a public announcement.
A group of Asian investors recently met with the governor of Catamarca to discuss the project. The investors were representing Sumimoto Metal Mining and Minera Santa Luisa, which are based in Japan.
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