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Eagle Mountain and Nittetsu Mining expand talks on new mineral projects
The non binding MoU covers potential opportunities across copper, gold, lithium and other metals, and is set to run for 24 months.
Eagle Mountain Mining has signed a non binding memorandum of understanding with Japan's Nittetsu Mining to jointly identify and evaluate potential new mineral projects. The companies said they will collaborate on opportunities focused primarily on copper, gold, lead, lithium, nickel, silver and zinc, with other commodities potentially included.
The target assessment locations include Australia and North America, with other jurisdictions to be considered case by case. The MoU contemplates a range of project stages, from early and advanced exploration through pre development and production assets.
The agreement provides a framework for both firms to review technical, economic and strategic considerations, including whether they should pursue potential transactions together. It lasts for 24 months unless the parties agree to extend or terminate it, and it is non exclusive, with no requirement to pursue any resulting deal.
Eagle Mountain and Nittetsu are already partners in the Oracle Ridge Project in Arizona, and the MoU is described as an extension of their existing collaboration. According to Yahoo Finance, Eagle Mountain executive director Fabio Vergara met Nittetsu management in Tokyo and visited Nittetsu's research and development centre, where metallurgical samples from Oracle Ridge are expected to be analyzed.
Latest closeGold $4,117.00 ▲1.1%|Silver $59.51 ▲1.1%|Copper $6.505 ▼0.1%