International news within the industry of mining and metal, May, 23 2019
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Canadian miner could sell Chilean project

Photo: Capstone Mining
Photo: Capstone Mining
Published by
Jaroslaw Adamowski - 28 Dec 2018

Canadian miner Capstone Mining is considering selling a stake in the Santo Domingo iron-oxide-copper-gold project, close to the town of Diego de Almagro in northern Chile, in which the company has 70% of the shares.

 

Korea Resources Corporation (KORES) holds a 30% stake in the Chilean project which is to be ready to begin construction in 2020, according to Capstone.

 

"There is a shortage of high-quality, large scale copper projects and the completion of our updated Technical Report comes at an ideal time. Capstone, with the support of KORES, is commencing a strategic process for Santo Domingo which will evaluate alternatives relating to the ownership of the Project. In addition, we will consider the potential for streaming opportunities given the gold reserve and cobalt resource to help finance the Project," Darren Pylot, the president and chief executive of Capstone, said in a statement.