C3 Metals presents Freeport earn-in agreement worth up to US$75 million for Bellas Gate project
FCX•C3 Metals highlighted an agreement giving Freeport-McMoRan the option to earn up to a 75% interest in Jamaica’s Bellas Gate project for up to US$75 million. Freeport can earn 51% by funding US$25 million over five years, then increase its stake to 75% with a further US$50 million over four years.
1. Earn-in terms
Freeport-McMoRan can earn an initial 51% interest in the Bellas Gate project by funding US$25 million over five years, while C3 Metals remains operator. An additional US$50 million over four years would raise Freeport’s interest to 75%, and Freeport would become operator.
