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New York, USA.- Corex Gold and Vale, the Brazilian mining company, reached an agreement for the development of Santana copper and gold project at the State of Sonora, Corex Gold informed last Wednesday in a press release.
Vale has a 51% share in the project option which could be increased to 65%. “The purpose of this alliance is expanding the project’s development” Corex informed. In order to exercise the 51% share option, Vale will have to invest no less than US$8 million within three years.