Much of the world’s uranium comes from Saskatchewan, while Alberta is known for its bitumen and various forms of coal. But the West is earning a reputation as a major source of gems and precious metals, especially those high in demand in Asia-Pacific markets.
While the company had other projects in the country, the Bayan Khundii gold project went from greenfield prospect to being its main asset in roughly nine months.
Deal will also see the two firms looking at jointly developing the nearby Pascua-Lama gold, silver and copper project and evaluating additional investment opportunities in the area.