Rinehart expands Ecuador push with stake in copper-gold project

The Linderos project is largely underexplored, with the Copper Ridge Porphyry and Meseta Gold prospects being the most advanced. Credit: Titan Minerals Ltd.

Rinehart’s private company Hancock Prospecting Ltd. will pay Titan Minerals Ltd. as much as $120 million on drilling and exploration work which would give it 80% of the Linderos project in Ecuador, the Sydney-listed company said in a statement Thursday. It will pay an initial $2 million for a 5% stake, it said.

Hancock “clearly sees the opportunity for large-scale copper, both at the Linderos Copper Project and in Ecuador, an emerging mining jurisdiction,” Titan chief executive officer Melanie Leighton said in the statement.

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