It may even allow foreign investors to hold majority stakes in local operations on condition that part of their output is reserved for domestic downstream industries.
Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.
This year the company has added 844,000 ounces of gold in the measured and indicated category and 519,000 ounces of gold in the inferred to its total overall resource for Valentine Lake.
Detour is under pressure from two other investors, investment company Coast Capital Management L.P.and hedge fund Livermore Partners, to overhaul its board and consider a sale.