Royal Gold, Inc. (RGLD, RGL.TO) revealed the closing of the Andacollo gold transaction with a subsidiary of Teck Resources Ltd. (TCK) known as Compania Minera Teck Carmen de Andacollo. Total consideration for the transaction was approximately $218 million in cash and 1.2 million shares of Royal Gold common stock. As a result of the closing of the transaction, CdA now owns approximately 3.0% of Royal Gold's issued and outstanding common stock.
Royal Gold would receive 75% of the gold produced from the sulfide portion of the Andacollo copper and gold deposit, located in Chile, until 910,000 payable ounces of gold have been sold, after which Royal Gold would receive 50% of all future payable gold production from the property. Gold would be produced as a by-product of copper production, with a gold recovery rate estimated by the operator to be approximately 61%. Ore has been introduced to the mill and shipment of copper concentrate is expected to commence in April of this year. Full commercial production is expected to be reached in the first half of 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.