An agreement in principle has been reached between MSV Resources (ME) and Westminer Canada whereby MSV will purchase certain assets of Westminer, including the Copper Rand and Portage mines and the concentrator in Chibougamau, Que.
MSV will pay Westminer a royalty of 37.5 cents per ton of ore processed at the Copper Rand mill.
The parties have agreed to create an environmental fund to provide for the restoration and rehabilitation of the mine sites. A shareholder of MSV, Societe de developpement de la Baie James, has agreed to indemnify Westminer against any future environmental liabilities related to the assets.
Be the first to comment on "MSV to purchase Westminer assets"