Initially, the Chilean state will get an estimated 70% of proceeds from new production, rising to 85% from 2031.

Panama goes to polls in May this year.

OceanaGold plans to sell up to 456 million common shares or a 20% stake in OceanaGold Philippines.

The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt.

The world's fourth-largest iron ore miner said it shipped 43.3 million tonnes of the steel-making commodity in the three months ended March 31.

The firm's quarterly sales revenue fell to A$101.2 million ($65.64 million) in the three months to March 31.

Project will test new chemical dissolution strategies and purification techniques to produce pure gallium and germanium compounds from waste materials.

The decline was mainly due to the unreliability of equipment used to handle ore consignments at Saldanha Bay Port, Kumba said.