LONDON (ShareCast) – (ShareCast News) – Herencia Resources (LSE: HER.L – news) has signed a memorandum of understanding for a joint venture with Chilean Copper producer Errazuriz Group. Shares (Berlin: DI6.BE – news) in the AIM listed company were up 10.94% to 0.177p at 0943p.
The Australian based company, through its Chilean subsidiary signed a non-binding agreement with Errazuriz Group which owns and operates the Tambillos mine in Chile.
The partnership would merge Errazuriz’s mining operations with Herencia’s proposed open pit Picachos project to create a mid-tier copper-silver-gold production company.
The companies said they were both undergoing due diligence and expected if an agreement was executed it would be finalised by the end of the year.
