Posted in | News | Non-Ferrous Alloys and Metals

Rio Tinto Sells Stake In Portuguese Copper Mine

Mar 11 2004

Related Stories

Rio Tinto and Empresa de Desenvolvimento Mineiro (“EDM”) have reached agreement to sell their interests in the Neves Corvo copper mine in Portugal to EuroZinc for a cash consideration of 128 million euros. Rio Tinto’s share of the consideration for its 49 per cent share of the mine is 58 million euros.

Under the terms of the agreement, there is a price participation clause whereby, for a period of four years, EDM and Rio Tinto together will share equally with EuroZinc the marginal revenue from the sale of copper concentrates when the average price of copper (calculated on a quarterly basis) exceeds US$0.90/lb. for the first year and US$0.95/lb. for the three years thereafter.

The transaction, which is subject to certain approvals, is expected to be completed by 4 June 2004.

For more copper information

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
(Logout)
Your comment type
Submit

Sponsored Content

Editorial Highlights

The Current State of the Global Semiconductor Market

The Current State of the Global Semiconductor Market

The global semiconductor market has entered an exciting period. Demand for chip technology is both driving the industry as well as hindering it, with current chip shortages predicted to last for some time. Current trends will likely shape the future of the industry, which is set to continue to show

How are Graphene Batteries Made?

How are Graphene Batteries Made?

The primary distinction between graphene-based batteries and solid-state batteries lies in the composition of either electrode. Although the cathode is commonly changed, carbon allotropes can also be employed in fabricating anodes.

Newsletters you may be interested in

See all Newsletters »

Terms

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

Provide Feedback