Newmont and Agnico Eagle team up in Colombia

Newmont (TSX: NGT; NYSE: NEM), the world’s largest gold producer, and Canada’s Agnico Eagle Mines (TSX: AEM; NYSE: AEM) have formed a 50-50 joint venture in Colombia to explore the Mid-Cauca belt, in the country’s northwest. The partners will focus on the Anzá gold project, in which Newmont has earn-in rights, as well as other prospective gold targets of district-scale potential in Colombia. Newmont reached a three-phase deal with Orosur Mining (TSX: OMI; LSE: OMI) in 2018, which granted it the right to earn up to a 75% stake in the Canadian junior’s Anzá project. The asset, comprising contracts and applications totalling 200 sq. km, is located 50 km west of Medellin and 60 km south of Zijin Mining’s Buritica operation.