RapNet


Rapaport News

 

Mining

 
Rapaport ブロードキャスト
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

詳細検索
最新記事
ビデオ
機能
ニュース
マイニング
原石市場
加工品市場
製造
小売

Rio Tinto’s Canada Deal Hits Trouble

Star Diamond accuses mining giant of not complying with terms of joint venture.
Feb 19, 2020 9:59 AM   By Rapaport News
Print 印刷 Facebook Facebook Twitter Twitter 共有 Share


RAPAPORT... Star Diamond Corporation has accused Rio Tinto of not complying with the terms of a joint-venture agreement for operating the Star-Orion South exploration project in Canada.

In 2017, Rio Tinto entered into a deal with the Canadian miner giving it the right to acquire shares in the proposed mine in Saskatchewan. In November, five years earlier than its original deadline, Rio Tinto gave Star Diamond notice it wanted to purchase a 60% stake in the site.

However, a review by a special committee at Star Diamond, together with independent legal counsel, found that Rio Tinto did not comply with all the terms of the agreement, Star Diamond said Tuesday.

Additionally, Rio Tinto has not provided Star Diamond with data from its drilling operations at the site, the Canadian miner said. Despite this, the company still supports Rio Tinto’s involvement in the project. Star Diamond has sent Rio Tinto notice that it must immediately comply with all its obligations under the agreement.

“Star Diamond is committed to taking all actions necessary to ensure that the interests of the corporation, its shareholders and its many Saskatchewan-based and other stakeholders are protected in connection with the project, including by enforcing all of Star Diamond’s rights under the agreement,” the company noted.

Star Diamond has stated its intent to reach a resolution, either through the courts or by a “negotiated solution,” it explained.

Rio Tinto did not respond to a request for comment by Rapaport News at press time.

Image: The Star-Orion South site. (Star Diamond Corp.)
タグ: Rapaport News, Rio Tinto, Star Diamond, Star Diamond Corporation, Star-Orion exploration project
類似記事
コメント: (0)  Add comment コメントを追加
コメントを変更 古い順



連絡先: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    プライバシー ポリシー  
  
twitter twitter
会社概要 Rapaport
RapNetに広告を載せる