Augusta uses streaming deal to part fund copper mine

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12 February 2010

Vancouver’s Augusta Resource Corporation has signed a gold and silver streaming deal with Silver Wheaton Corporation to help fund its Rosemont Copper Project.

Vancouver’s Augusta Resource Corporation (Augusta) has signed a $230 million gold and silver streaming deal with Silver Wheaton Corporation to help fund its Rosemont Copper Project.

It is estimated that the deal will cover about a quarter of the cost to build Augusta Resource's Rosemont copper project, in Arizona. Augusta expects up to 70% of the estimated $890 million capital cost for the...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%