MEXICO CITY Oct 9 Canadian miner AuRico Gold
Inc said on Tuesday it had agreed to sell the Ocampo
mine in Mexico, as well as adjacent exploration projects and a
50 percent stake in the Orion project, to tycoon Carlos Slim's
Minera Frisco for $750 million.
AuRico said it expected the transaction to close in
December, and that it would use the net proceeds to "eliminate
certain debt obligations, invest in internal growth
opportunities, (and) provide sufficient working capital and
liquidity for the company going forward."
Minera Frisco said in a separate statement it
would pay cash for the assets, adding the purchase would
complement some of its projects under development, boost
installed capacity and give it a "solid base of proven and
Minera Frisco was spun off from Slim's Grupo Carso
conglomerate early last year, and focuses on