A subsidiary of Anglo American has acquired right of first refusal to joint-venture new projects identified by Pacific Comox Resources (VSE) within a 16,000-sq.-km area of southwestern Ghana.
Anglo will be entitled to earn from 51% to 60% of a given property, with the Ghanaian government retaining 10% and Pacific Comox retaining up to 30% (depending on third-party interests).
Upon selection of a project, Anglo can earn its interest by paying all acquisition and development costs through to the prefeasibility stage. The agreement does not cover Pacific Comox’s current property interests in the country.
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