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Appian sells Caserones copper royalty for $23mln London-based investment firm Appian Capital Advisory is selling the mining royalty for the Chilean Caserones copper mine to Nomad Royalty, a Canadian-based gold mining company, it said on Friday May 14. The royalty interest is highly cash generative and represents an effective 0.28% net smelter return royalty over the Caserones mine in Atacama, Chile, owned by Minera Lumina Copper Chile, Appian said. Minera Lumina is in turn indirectly owned by Tokyo-based JX Nippon Mining & Metals Corp.
The move comes amid the approval by the country s lower house of a new mining royalty bill in Chile that could mean sales of copper are taxed at a.
Nomad Royalty acquires a cash-flowing royalty on the Caserones copper mine in Chile
The transaction provides it with immediate cash flow along with measured exposure to copper, a key metal in the clean energy economy Nomad Royalty will pay US$23 million in cash plus two million of its common share purchase warrants for the 0.28% NSR royalty
Nomad Royalty Company Ltd (TSE:NSR) (OTCQX:NSRXF) (FRA:IRLB) announced it has agreed to acquire a 0.28% net smelter return (NSR) royalty on the producing Caserones mine in Chile.
Nomad said the transaction adds a new revenue stream from Chile while providing the company with measured exposure to copper, a key metal powering the world’s transition to a clean energy economy.
Share:
Nomad or the
Company ) (TSX:NSR) (OTCQX:NSRXF) is pleased to announce that it has entered into an agreement (the
Agreement ) with Appian Capital Chile SpA, which is a subsidiary of the Appian Natural Resources Funds advised by Appian Capital Advisory LLP (the
Vendor ), to acquire an effective 0.28% net smelter return royalty (the
Royalty ) on the producing Caserones mine located in the Atacama region of Chile (the
Caserones mine ) for a cash consideration of US$23 million as well as the issuance of two million common share purchase warrants of the Company.
Transaction Highlights
Acquisition of a royalty on a major mine operated by Minera Lumina Copper Chile, which is indirectly owned by JX Nippon Mining & Metals Corporation