BHP ups stake in Ecuador's SolGold

BHP ups stake in Ecuador's SolGold

M&A Ecuador

BHP Billiton said it has agreed to acquire a larger stake in SolGold, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador. The Anglo-Aussie mining company will pay 45 pence ($0.59) for 100m newly-issued shares in SolGold, representing a 32% premium over the 34 pence 20-day weighted average London Stock Exchange (LSE) share price. SolGold will issue the stock via a private placement this Friday October 19. The transaction lifts BHP's stake in the project compan

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