International news within the industry of mining and metal, Jan, 18 2019
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Canadian miner eyes $57M deal for Ecuadorian assets

Photo: Lumina Gold
Photo: Lumina Gold
Published by
Jaroslaw Adamowski - 28 Mar 2018

South American project Canada’s Lumina Gold has signed a non-binding letter of intent for a $57 million earn-in and joint venture agreement with Anglo American’s subsidiary to develop the Pegasus A and B concessions in Ecuador.

"Anglo American, through a joint venture company, would have the right to earn a 60% ownership interest in the Properties if it invests an aggregate amount of US$50 million and makes US$7.3 million of cash payments to Lumina over a seven year period," Lumina Gold said in a statement.

The company says it will work with Anglo American to negotiate and complete a binding agreement over the next five months.

Listed on the Toronto Stock Exchange (TSX), Lumina Gold says it is a Vancouver-based precious and base metals exploration and devel-opment company, focused on gold and copper projects.

Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company
Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company

The world's first mining-related railway network for autonomous trains was opened

"improves productivity"

The mining company Rio Tinto's AutoHaul ™ program, which is expected to cost $ 940 million, is...