Eagle Mine sale now final

Eagle Mine sale now final

From Rio Tinto:

Rio Tinto announced previously that it had reached a binding agreement to sell its 100 percent interest in the Eagle Mine to Lundin Mining Corporation. Since the initial announcement the transaction achieved regulatory approval and the sale is now finalized.

Located in the Upper Peninsula of Michigan in the United States, Eagle includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is more than 50 per cent complete. Production is scheduled to commence in late 2014.

“I sincerely thank all those people that have contributed to the success of Eagle Mine. I extend my thanks to the community, employees and contractors for their dedication to developing a world class mine that we are all proud of,” said Adam Burley, President of Rio Tinto Eagle Mine. “Rio Tinto has laid a solid foundation for Eagle Mine. We believe Eagle has a bright future under Lundin’s stewardship”.

With the finalization of the sale Lundin assumes day-to-day management of Eagle.

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