Toronto-based Curragh Resources (TSE) is negotiating to sell its 20.8% interest in Spanish smelting company Asturiana De Zinc SA, says Chairman Clifford Frame.
Under a proposed agreement, the Spanish company will also return its 5% stake in Curragh and 30% stake in Curragh’s Stronsay zinc-lead mine in British Columbia which together are valued at about $60 million. As a result, Curragh will reduce the amount of zinc-lead concentrates it sends to the Spanish smelter from the 300,000 tons per year specified when the original agreement was signed in May 1989.
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