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Zijin Mining Group Co Ltd Announces Formation Of A Joint Venture With Sprott Inc. And Americas Now


Wednesday, 20 Mar 2013 05:50am EDT 

Zijin Mining Group Co Ltd announced that the Company, Sprott Inc. and Americas Now Resources Investment Management Corp. (Americas Now) entered into a joint venture agreement (JV Agreement) on March 19, 2013 to establish an offshore investment fund (Fund), which will be co-managed by the Company and Sprott. The Fund will primarily invest in equities and debt instruments in relation to gold and other precious metals, copper, and other minerals. The target size of the fund is USD500 million. Pursuant to the JV agreement, the Company agreed to make capital contributions to the Fund of USD100 million. Sprott agreed to make initial capital contributions to the fund of USD10 million and to continue to invest to match at least 5% of the aggregate capital contributions of the Fund. The Fund will also seek out other investors. Under the JV Agreement, Americas Now agreed to provide technical and marketing services to the joint venture. 

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