Tethyan attracts Antofagasta

TAKEOVER target Tethyan Copper has joined forces with Chilean copper miner Antofagasta to create a joint venture over its Reko Diq copper-gold project in Pakistan, and cancelled BHP Billiton’s clawback rights over the project.

Tethyan attracts Antofagasta Tethyan attracts Antofagasta Tethyan attracts Antofagasta Tethyan attracts Antofagasta Tethyan attracts Antofagasta

The 50:50 joint venture will see Antofagasta sole fund up to $US75 million to confirm its stake in the project, with BHPB’s clawback right being cancelled for $US50 million.

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