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BHP takes on copper project in Australia’s Northern Territory – MINING.com
It has reached an option agreement with Encounter Resources that could give it up to 75% in the Elliot copper project.
The Melbourne-based mining giant would have to spend up to A$22 million (about $15.5m) over 10 years to become Elliots majority owner.
BHP will have to spend up to A$22 million over 10 years to become Elliot copper projects majority owner
The companies would then form a joint venture and would be expected to fund development based on their percentage interest. That would allow the parties to maintain their respective stakes or dilute according to a standard dilution formula, Encounter Resource…
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