Asarco, Montana Res. in partnership deal

Asarco purchased a 49.9% interest in the partnership for $100 million(US) in cash plus a participation by Montana (50.1% interest) in a portion of Asarco’s share of future partnership income up to $25 million over a maximum 4-year period.

The partnership will manage the Continental open pit copper mine in Butte, Mont., which produced 53,200 tons copper and 14.1 million lb molybdenum in concentrates in 1988.

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