O3 Mining investor knocks Agnico offer
Agnico, the second-largest gold miner by stock market value, agreed to acquire O3 last month for about C$204 million.
Yamana Gold today announced an arrangement, subject to formal documentation, with Xstrata Queensland Limited and Goldcorp Inc. that would see the ultimate integration of Agua Rica into Minera Alumbrera.
Agua Rica is a 100% Yamana-owned, development-stage project in the province of Catamarca, Argentina and is located approximately 35 kilometres from the currently operating Alumbrera mine. Subject to Xstrata and Goldcorp exercising their option to have Alumbrera acquire Agua Rica, and following the integration of the projects, Xstrata, Goldcorp and Yamana would own interests in the combined project of 50%, 37.5% and 12.5% respectively, consistent with their current interests in Alumbrera.
