[Ferro-Alloys.com] 

First Quantum shows interest in Raiden’s Mt Sholl

Base metals miner First Quantum has entered into a memorandum of understanding with Australian junior Raiden Resources’ Mt Sholl nickel/copper/platinum group elements (PGE) project, in Western Australia.

In terms of the agreement, First Quantum Australia will sole fund the project up to a decision to mine, with Raiden retaining a 30% free-carried interest up to the decision to mine.

To earn a 70% interest, First Quantum must spend at least $25-million over eight years on exploration activities and associated studies.

• [Editor:邢亚敏]