Diversified miner South32 has struck an earn-in agreement with ASX-listed junior Inca Minerals over its Riqueza copper/zinc, in Peru, finalising a deal more than a year in the making.
South32 could earn an initial 60% interest in the Riqueza project by spending $9-million on exploration over a four-year period. The company could then increase this stake by 10% through sole-funding a prefeasibility study.