The Lundin family are buying .
Having paid $1.8bn to take control of the Candelaria Copper mining complex in Chile from Freeport McMoran, subsequently streaming the precious metals for financing, the Lundins are now buying what some consider the best Gold discovery of the last decade from Kinross (who bought out the Fruta Del Norte project from Aurelian) for only $240m.
(Longer release)
The mark down from Kinross' price of $1.2bn reflects the inability to agree a commercial mining regime with Ecuador, in particular a 70% windfall tax.
Ross Beaty also recently invested in Ecuador, in Odin mining.
Can Ecuador work with the new miners?
As pointed out by IKN why explore and develop when productive and advanced assets are for sale.
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