As reported (N.M., Aug 28/89), the agreement provides for the formation of a company to operate the mine. Cominco Resources International (TSE) and Cominco Ltd. (TSE) will each own 42.5% of the company while ENAMI, a Chilean government agency, will retain a 10% carried interest.
The remaining 5%, also a carried interest, is held by Chilean copper producer Sociedad Minera Pudahuel, which has the option to subscribe for up to 10% of the Cominco group’s interest.
Feasibility studies are planned to start before the end of the year and preparations for leaching tests of high-grade ore will start immediately.
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