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Stock Market & Financial Investment News

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August 19, 2014
05:27 EDTBVN, GFIGold Fields sells 51% stake in Chucapaca Project to Buenaventura for $81M
Gold Fields (GFI) has agreed to sell its 51% stake in Canteras del Hallazgo S.A.C., or CDH, the company that manages the Chucapaca project in southern Peru, to its joint venture partner in the project, Compañía de Minas Buenaventura S.A.A. (BVN). Buenaventura previously owned 49% in CDH. The agreed sale price is $81M, to be paid by Buenaventura concurrently with the execution of the agreement, and a 1.5% net smelter royalty on future sales of gold, copper and silver produced in the current Chucapaca concession.
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