Vancouver-based Quadra Mining Ltd. is to sell a 50 per cent stake in two of its copper projects in Chile to the State Grid Corporation of China. The deal also includes a private share placement in which State Grid will take a 9.9 per cent stake in Quadra
The deal is for a joint venture to develop and operate Quadra's Sierra Gorda project and Franke Mine.
Quadra will manage operations of the joint venture, while State Grid will lead on project financing, aiming for a 60:40 debt-to-equity ratio.
The parties will also work on other prospective copper assets.
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