NGEx Plans to Spin Out Filo del Sol

NGEx Resources has announced plans to spin out its cross-border Chile-Argentina Filo del Sol property into a wholly owned subsidiary to be called Filo Mining Corp. NGEx will retain and focus on advancing its 60% owned, cross-border Constellation project, which is developing the Los Helados property in Chile and the Josemaría property in Argentina. Filo del Sol is adjacent to these two properties.

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Endeavour Silver Acquires El Compas Project in Mexico

Endeavour Silver has entered into a definitive agreement with Canarc Resource Corp. to acquire a 100% interest in Oro Silver Resources, a wholly owned subsidiary of Canarc. Oro Silver owns the El Compas gold-silver development property and has a five-year renewable lease on the 500-metric-ton-per-day (mt/d) La Plata ore processing plant in Zacatecas, Mexico.

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Anglo American Sells Brazil Niobium and Phosphates Businesses

Anglo American announced in late April that it has agreed to sell its Brazil-based niobium and phosphates businesses to China Molybdenum for $1.5 billion in cash, payable at closing. The wholly owned businesses are located in the Brazilian states of Goiás and São Paulo. The transaction is expected to close in the second half of 2016.

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Lithium Americas and SQM Form Argentine Joint Venture

Lithium Americas and Sociedad Química y Minera de Chile S.A. (SQM) are forming a joint venture to develop the Cauchari-Olaroz lithium brine project in Jujuy province, Argentina. The joint venture will go into effect following a capital contribution of $25 million by SQM in exchange for a 50% ownership stake in Minera Exar S.A., the Lithium Americas subsidiary that is developing the project.

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