London-based investment firm Appian Capital Advisory is selling the mining royalty for the Chilean Caserones copper mine to Nomad Royalty, a Canadian-based gold mining company, it said on Friday May 14.
"The royalty interest is highly cash generative and represents an effective 0.28% net smelter return royalty over the Caserones mine in Atacama, Chile, owned by Minera Lumina Copper Chile," Appian said. Minera Lumina is in turn indirectly owned by Tokyo-based JX Nippon Mining & Metals Corp.The move comes amid the approval by the country's lower house of a new mining royalty bill in Chile that could mean sales of copper are taxed at a...