Oz Minerals formalises three Cloncurry JVs with Minotaur Exploration

Company News

by Rachael Jones

Three joint venture agreements between Minotaur Exploration (ASX:MEP) and Oz Minerals (ASX:OZL) have been given the go-ahead.

A new Eloise JV replaces the 2016 JV agreement which provided for OZ Minerals to acquire 70 per cent interest in the Eloise JV tenements through expenditure of $10 million.

Alongside Minotaur’s contribution of additional tenure to the new JV, OZ Minerals agreed to devote another $3 million into JV activities over the forthcoming 24 months.

Minotaur continues to be the manager and operator of the JV.

Shares in OZ Minerals (ASX:OZL) closed 4.84 per cent higher at $9.10 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.