As part of the deal, Toronto-based Franco-Nevada also secured a right of first refusal on any future sales of Buenaventura’s royalty interests.
“Yanacocha has been one of the largest gold mines globally and the district covered by the royalty remains highly prospective with over 47Moz of gold equivalent in total reserves and resources,” Franco Nevada chief executive Paul Brink said in the statement.
The Yanacocha mine, currently operating open-pit oxide production, will immediately contribute gold equivalent ounces to Franco-Nevada’s portfolio, the company said.
Newmont, the owner and operator of Yanacocha, expects the mine— South America’s largest gold operations—to produce 290,000 ounces of gold this year.
The royalty acquired by Franco-Nevada also covers the Yanacocha copper-gold sulfides project, which boasts total reserves and resources of 1.2 million copper tonnes and 7.2 million gold ounces within the…
