Junior Meridian Peak Resources (MRK-V) is forming a subsidiary to explore for gold in India.
Although the formation of Meridian Minerals India (MMI) is still subject the the approval of Indian regulators, the company has already made plans to begin exploring ground in the central state of Andhra Pradesh.
Meridian Peak is one of only a handful of Canadian companies that have begun exploring in India since the country recently reformed its mining regulations, though several Australian and South African majors already have subsidiaries there.
Ownership of MMI would be shares equally by Meridian Peak and the Indian government.
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