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PORT-AU-PRINCE, Haiti (AP) -- A subsidiary of American mining giant Newmont Mining Corp. has bought a Canadian company's joint-venture interests in Haiti, officials announced Monday.
In a statement, Vancouver-based Eurasian Minerals Inc. said it sold its interests covering six exploration sites in northern Haiti to the Newmont subsidiary for $4 million and a 0.5 percent royalty.
Newmont Mining Corp. suspended active exploration in Haiti in 2012. Company spokesman Omar Jabara said Monday that the Colorado-based company has "no plans to take the exploration sites off of care and maintenance."
Other than recent prospecting, Haiti's mineral extraction industry has been largely dormant since the 1970s.
Mining had been seen as a potential new resource of revenue and jobs after the country's 2010 earthquake. But the Haitian government has been unable to enact a revised mining law to establish environmental regulations and royalty revenues.
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Eurasian Minerals Inc.
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EXPLORATION STAGE |
CODE : EMX.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Eurasian Min. is a gold and silver royalty company based in Canada. Eurasian Min. holds various exploration projects in Australia, in Sweden and in Turkey. Its main exploration properties are LA MINE AND TREUIL, GRAND BOIS, VERT DE GRIS and LA MIEL in Haiti, ORGATASH and AKOGUZ in Kyrgyzstan, AKARCA, GOLCUK, ELMALI and SISORTA in Turkey, SOPOT in Romania, KOONENBERRY in Australia and KIRUNA SOUTH in Sweden. Eurasian Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 192.1 millions as of today (US$ 140.1 millions, € 130.9 millions). Its stock quote reached its lowest recent point on March 07, 2003 at CA$ 0.28, and its highest recent level on January 08, 2021 at CA$ 4.83. Eurasian Min. has 74 160 000 shares outstanding. |