{"id":1101004,"date":"2019-02-20T17:12:00","date_gmt":"2019-02-20T17:12:00","guid":{"rendered":"http:\/\/www.mining.com\/?p=972149"},"modified":"2019-02-20T17:12:00","modified_gmt":"2019-02-20T17:12:00","slug":"newcrest-ups-stake-in-ecuador-with-cornerstone-deal","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1101004","title":{"rendered":"Newcrest ups stake in Ecuador with Cornerstone deal"},"content":{"rendered":"

Australia\u2019s largest gold producer, Newcrest Mining (ASX: NCM), is expanding its footprint in Ecuador by signing an agreement with Cornerstone Capital Resources<\/a> (TSX-V:CGP), a Canadian junior with several assets in the country, including a 15% stake in SolGold\u2019s coveted Cascabel<\/a> copper-gold project.<\/p>\n

Under the deal, a subsidiary of\u00a0Newcrest\u00a0will have the option to earn up to a 75% interest in two early-stage\u00a0gold, copper and silver projects \u2014 \u00a0Ca\u00f1a Brava and Tioloma, located in south-central Ecuador.<\/p>\n

The Aussie gold miner would be the operator of the proposed mines in phase one, which extends to 18 months after receiving a drilling permit.<\/p>\n

Newcrest\u00a0will have the option to earn up to a 75% interest in two early-stage\u00a0gold, copper and silver projects \u2014 \u00a0Ca\u00f1a Brava and Tioloma.<\/q><\/p>\n

Ecuador has gained ground<\/a> as a mining investment destination in the past two years, with top miners entering into joint ventures (JVs) or investing in juniors to gain exposure to\u00a0projects\u00a0in that country.<\/p>\n

Newcrest\u00a0already owns a 27.1% interest in\u00a0Lundin Gold (TSX:LUG), the company behind the Fruta del Norte\u00a0gold\u00a0project<\/a>, and has an agreement to form a JV to explore eight early stage concessions near the mine.<\/p>\n

It also holds a 15.3% interest in\u00a0SolGold<\/a> (LON, TSX:SOLG), which is developing the Cascabel copper-gold project in the country\u2019s north. Its new partner, Cornerstone, has 15% interest in the Cascabel, but SolGold is working hard to put an end to that.<\/p>\n

Last month, the Canadian explorer revealed plans to acquire Cornerstone<\/a> and so tighten its grip<\/a> on the potentially world-class project.<\/p>\n

Anglo American (LON:AAL) also landed in the South American country through a deal with Canada’s Luminex Resources (TSX-V: LR). The company plans to develop two copper and gold concessions there.<\/p>\n

Currently, Ecuador\u2019s emerging mining sector employs 5,000 people, but\u00a0estimates the figure will rise to about 16,000 by 2020.<\/p>\n

The post Newcrest ups stake in Ecuador with Cornerstone deal<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australia’s largest gold producer has signed an option and farm-in agreement with Toronto-listed Cornerstone Capital Resources over two early stage projects in Ecuador.<\/p>\n

The post Newcrest ups stake in Ecuador with Cornerstone deal<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1024,862,404,369,683,684,685,440],"tags":[15,25,33,39,48,71,102],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101004"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1101004"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101004\/revisions"}],"predecessor-version":[{"id":1101025,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101004\/revisions\/1101025"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1101004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1101004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1101004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}