This is what I found
By: Chanel de Bruyn
7th July 2010
TEXT SIZE JOHANNESBURG (miningweekly.com) – Precious-metals royalty company Royal Gold has acquired a further 1% net smelter return (NSR) gold royalty on Barrick Gold Corporation’s Pascua-Lama project, in South America, for $68-million.
The royalty company acquired the additional NSR royalty from three private individuals, taking its total royalty interest in the Pascua-Lama project to 5,23%.
“We are pleased to, once again, increase our royalty interest on this long-life, world-class gold project – having raised our royalty interest this year from 1,08% to 5,23%, at gold prices above $800/oz,” commented president and CEO Tony Jensen.
The Pascua-Lama project, which is situated on the border of Chile and Argentina, is in the early stages of construction, with initial commissioning to occur in 2012.
First output from the mine is expected in the first quarter of 2013.
Barrick Gold expects the mine to produce between 600 000 oz/y and 700 000 oz/y of gold over its 25-year life-of-mine.
Royal Gold said that it expected the project to become one of its cornerstone royalty assets for the next couple of decades.