Miners combine projects in Chile; Goldcorp and Teck join forces to create 50-50 venture

摘要

AGOLDCORP AND Teck Resources will combine their respective El Morro and Relincho mines in Chile to create a single joint venture project owned 50-50 by the Vancover, be Canada-based companies. The mines, Goldcorp's El Morro, and Teck's Relincho, are about 40 km (24 miles) apart in Chile's Atacama region. The merger of the mines, called Project Corridor, will cut development costs for each property. The venture will have an estimated initial investment of US$3.5 billion. The miners said the combined operation would provide much of the additional funding needed to construct future phases.