Brief: Arctic Minerals Acquires Peräpohja Copper Project In Finland

Arctic Minerals AB (publ)

02/12/2022 07:18

Dec 2 (Reuters) - Arctic Minerals AB (publ)  ARCT.ST :
    * ACQUIRES 100% OF PERÄPOHJA COPPER PROJECT IN FINLAND IN A
ROYALTY DEAL WITH RIO TINTO, SUPERSEDING PREVIOUS JOINT VENTURE
AGREEMENT
    * PROJECT CONSISTS OF 24 PERMIT AND PERMIT APPLICATIONS
TOTALLING
112,000 HECTARES
    * PROJECT HAS TILL NOW BEEN OWNED JOINTLY BY ARCTIC MINERALS
AND
RIO TINTO IN A JOINT VENTURE
    * NO UP-FRONT CASH WILL BE PAID FOR PROJECT
    * RIO TINTO WILL BE ENTITLED TO A NET SMELTER RETURN OF 1%
OF
REVENUE FROM ANY EVENTUAL PRODUCTION FROM PROJECT

Source text for Eikon:  ID:nBQN3Z2P2 
Further company coverage:  ARCT.ST 
 (Gdansk Newsroom)
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