Codelco signs early agreement with Salvador mine supervisors
The 36-month agreement will start on May 1, 2025.
Osisko Mining has signed an agreement with a state government in Argentina for joint development of the Famatima gold property, located in La Rioja province, The Montreal Gazette reported:
Osisko put down $500,000 U.S. in cash on signing and will spend $10 million U.S. on exploration in the first year of a four-year period, arrange the feasibility study and finance 100 per cent of development and mine construction costs. EMSE handles all permitting and will repay its 25 per cent share of mine costs from future production.
Osisko operates the Canadian Malarctic mine in Quebec and recently (June) went into production with a 33,000 tpd startup. The company also plans to bring the Hammond Reef gold mine into production with a target target annual capacity of 650,000 ounces, and has a portfolio of exploration properties mainly in Canada, said the Gazette.
