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Tuesday 25

September, 2018 3:17 PM



BHP buys stake in copper-gold explorer

BHP buys stake in copper-gold explorer

Global miner BHP is paying Canadian company Guyana Goldfields close to $50 million for a 6.1 per cent stake in copper-gold explorer SolaGold.

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By AAP 05.09.2018 11:14 AM

Mining giant BHP is buying a $50 million stake in copper-gold explorer SolGold, the majority owner of a project in Ecuador.

BHP has agreed to pay Canadian company Guyana Goldfields about 27.4 million pounds ($A49 million) for a 6.1 per cent interest in the London- and Toronto-listed company, which controls the "high quality" Cascabel exploration project.

BHP chief executive Andrew Mackenzie said the investment was in a "highly prospective" location, adding copper was a focus as the global miner seeks to replenish its resources base.

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