{"id":1165056,"date":"2020-02-11T18:02:00","date_gmt":"2020-02-12T00:02:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1013696"},"modified":"2020-02-11T18:02:00","modified_gmt":"2020-02-12T00:02:00","slug":"trilogy-metals-south32-jv-creates-ambler-metals","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1165056","title":{"rendered":"Trilogy Metals, South32 JV creates Ambler Metals"},"content":{"rendered":"<p>Trilogy Metals NYSE: TMQ) and South32 Limited (ASX, LSE, JSE: S32) completed on Wednesday the formation of a 50\/50 joint venture to create a new company: Ambler Metals.&nbsp;&nbsp;<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The new partnership structure comes as the Australian major exercised an\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/mining.com\/web\/trilogy-metals-waiting-acquired-south32\/\" >option acquired in 2017<\/a>\u00a0to buy a 50% interest in Upper Kobuk Mineral Projects (UKMP), located in Alaska\u2019s Ambler mining district.\u00a0<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The UKMP projects have a combined resource of 8 billion pounds of copper, 3 billion pounds of zinc and 1 million ounces of gold equivalent <\/p>\n<\/blockquote>\n<\/figure>\n<p>As part of the deal, Trilogy contributed\u00a0all of\u00a0its assets associated with the 172,675-hectare UKMP, including the Arctic and Bornite projects, while South32 contributed $145 million, resulting in each party owning a 50% interest in Ambler. The funds will be used to advance the Arctic and Bornite projects, along with exploration in the Ambler mining district.\u00a0<\/p>\n<p> \u201cForming the UKMP Joint Venture will be another important milestone as we reshape and improve our portfolio, by adding high-quality copper and base metals development options,\u201d South32\u2019s CEO, Graham Kerr,<a href=\"https:\/\/www.mining.com\/south32-canadas-trilogy-metals-to-jointly-develop-alaska-project\/\"  rel=\"noreferrer noopener\" aria-label=\"\u00a0said in December.\u00a0  (opens in a new tab)\">\u00a0said in December.\u00a0 <\/a><\/p>\n<p>The UKMP projects have a combined resource of 8 billion pounds of copper, 3 billion pounds of zinc and 1 million ounces of gold equivalent.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The partnership aims to advance the Arctic and Bornite projects in Alaska&rsquo;s Ambler mining district.<\/p>\n","protected":false},"author":47,"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":[2849,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165056"}],"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\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1165056"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165056\/revisions"}],"predecessor-version":[{"id":1165177,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165056\/revisions\/1165177"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1165056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1165056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1165056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}