BHP and EMR Capital do not reach agreement and their; sales fall Cerro Colorado



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He fell. BHP notes this evening end your consent with EMR Calpa to sell the Cerro Colorado copper mineral work, which was valued at at least US $ 230 million.

The Anglo-Australian company said the decision was agreed to terminate the agreement between the parties "when it became clear that the funding conditions would not be met within the boundary. "

Under the terms of this agreement, the matter had to be closed by the end of 2018, subject to funding and "normal closing conditions". The business included a total cash payment of US $ 230 million, and about £ 40 million from selling a copper inventory after it was completed.

This was included in payment for up to US $ 50 million in future, depending on the performance of copper price.

"BHP and EMR are keen to work together to make a smooth move on ownership," said the Australian-Australian mining company, in its statement on November 19th.

Cerro Colorado is located in the Atacama Desert in the north of Chile and is one of the two copper mines in the Pampa Norte region. In the fiscal year of 2017, Cerro Colorado created 65,000 tonnes of copper cats.

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