CATAMARCA, Argentina WHEATON RIVER MINERALS, which recently arranged to purchase RIO ALGOM’s 25% share of the Alumbrera copper-gold mine, has agreed that NORTHERN ORION will acquire half (12.5%) of Wheaton’s share. Rio Algom set a US$180-million value on its interest.
Rio Algom has reportedly agreed to defer US$50-million of the purchase price until May 30, 2005.
Alumbrera is located 34 km from Northern Orion’s 100%-owned Agua Rica copper-gold deposit. Northern Orion president and CEO David Cohen can be reached at firstname.lastname@example.org.