Newmont Mining is increasing its presence in Latin America through early-stage investments, including recent partnerships in Colombia and Mexico.
The deals are part of the US-based miner's strategy to identify and advance high-quality assets, corporate communications executive Omar Jabara told BNamericas.
The company, which ranks among the world's largest gold producers, controls the Yanacocha gold mine in Peru (pictured) and operates the Merien yellow metal mine in Suriname, along with producing assets in the US, Australia and Ghana.
The agreement enables Newmont to earn up to a 75% stake in Anzá through US$30mn in qualifying expenditures over 12 years, completing a feasibility study and cash payments totalling US$4mn.
As part of the deal, Newmont acquired 29.2mn Orosur shares in a private placement, for gross proceeds of US$2.0mn, to be invested at Anzá.
Under the deal, Newmont purchased 4.8mn Evrim shares for Cdn$7.3mn (US$5.6mn) in a private placement, proceeds of which have been earmarked to advance Evrim's Cuale gold project in Mexico's Jalisco state.
Exploration results announced in April at Cuale include trenching 13.6g/t gold over 106m at the La Gloria prospect.
The deal requires Newmont to incur US$3mn in initial qualifying expenditures over four years, and a further US$7mn over the following four years.
Lyra, which comprises 14 concessions over about 55,000ha in Antioquia department, lies to the south of Continental Gold's US$389mn Buriticá gold-silver project, where initial production is planned in 2020.
Newmont acquired a 19.9% stake in Continental last year.
Further early-stage deals in Latin America by Newmont are likely, as these investments form a key plank in the company's strategy.
The miner's exploration team and use of proprietary technologies have opened the door to partnerships in some of the most prospective districts in the Americas, according to Jabara.
"Our focus remains on long-term value creation through the identification and development of high-quality gold deposits in favorable mining jurisdictions," he added.
In addition to the recent deals, Newmont has signed agreements to explore gold properties in Chile, French Guiana, Australia and Canada in the past year, Jabara said.
"This is an important part of our strategy to continue feeding our project pipeline with opportunities that can generate strong returns for our shareholders and other stakeholders."
Newmont has completed nine new mine and expansion projects since 2013, with four further expansions currently in the execution phase and due to come online by 2020, Jabara said.