Redhawk Resources, Inc.
Joint Venture with Anglo American PLC
We represented Redhawk Resources, Inc. (“Redhawk”) in the US$64 million joint venture transaction with a subsidiary of Anglo American PLC (“Anglo American”) in connection with Redhawk’s advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona (the “Project”). The joint venture agreement was executed on November 25, 2014.
Anglo American will earn a 60% interest in the Project, through funding expenditures of US$44 million over a five year period with a commitment to fund at least US$3 million in the first year. Anglo American may earn an additional 20% interest in the Project by funding a further US$20 million in expenditures on or before the seventh anniversary of the effective date of the joint venture. Redhawk will be the operator for the first three years of the joint venture, after which time Anglo American will be the operator.
Redhawk is a Canadian-based resource exploration and development company listed on the Toronto Stock Exchange. Anglo American is one of the world’s largest mining companies and is listed on the London and Johannesburg stock exchanges.