Newcrest Mining Limited
(ASX:NCM) will enter a farm-in and joint venture on Africa’s Ivory Coast.
Newcrest will pay up to US$1.7 million over the next three years for up to 75 per cent of the Taruga owned Dabakala project.
Newcrest will have to spend a minimum of US$750,000 before it can withdraw from the Joint Venture.
Taruga will maintain a 100 per cent interest in the project until Newcrest completes the US$1.7 million expenditure.
Newcrest Mining made a net profit of $560 million for the 2015 financial year.
