https://www.engineeringnews.co.za

Star Diamonds notifies Rio Tinto of noncompliance at Star-Orion

19th February 2020

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Canadian exploration junior Star Diamond said on Tuesday that it would take all necessary actions to ensure that its interests in the Star-Orion South project, in which Rio Tinto Exploration Canada (RTEC) is earning into, were protected.

The company said that RTEC’s purported exercise in November 2019 of its four options under the option to joint venture agreement of June 2017 did not comply with the terms of the agreement.

Exercising the four options would give RTEC a 60% interest in the Star-Orion project, in central Saskatchewan.

Star Diamond also said that RTEC’s operations and claimed expenditures in relation to the project did not comply with the agreement.

The company said that, while it had not been provided with any meaningful data from RTEC's drilling operations at the project, it still believed that RTEC had faith in the project.

RTEC has expended significant funds at the project to date, and is understood to plan to continue to do so this year.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 1.074s - 140pq - 2rq
Subscribe Now