A deal that would have Lac Minerals (TSE) and Cyprus Amax Minerals (NYSE) buy a majority stake in the Chilean El Abra copper deposit has hit a snag.
The deal will be delayed pending the resolution of technical activities including variances between assays that Lac and Cyprus are proposing, and those that the project owner, Codelco, is considering.
It will take up to 6-8 weeks to complete these activities.
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