Acquired by Lundin Mining Corp. on Oct. 1, 2007, Rio Narcea Gold Mines, Ltd. engages in the acquisition, exploration, development, and operation of base and precious metal properties in Spain, Portugal, and Mauritania. Stockholders received $5.50 in cash for each share held in the acquisition transaction. Rio Narcea's primary products include gold, copper, and nickel concentrates. The company's property portfolio includes Aguablanca nickel sulfide deposit located in the province of Badajoz, in the municipality of Monesterio; Tasiast gold project located in Mauritania; and Salave Gold Project located in northern Spain. It also holds interests in Corcoesto gold project located near the coast of Galicia in northwest Spain; Chariot's Marcona copper project located in southern Peru; Godan deposit located approximately 2.5 kilometers northwest of the Carles mine; La Brueva deposit located 3 kilometers south of the Carles mine; Santa Marina prospect located 2 kilometers north of the E1 Valle mine; and Ossa Morena base metal project corresponding to 3,091 square kilometers in Spain and 163 square kilometers in Portugal; and Ahmeyim-Tijirit project area in Mauritania located approximately 100 kilometers east of the Tasiast project. Rio Narcea Gold Mines was founded in 1994 and is based in Cayes-Llanera, Spain. As on August 20, 2007, Rio Narcea Gold Mines, Ltd. is a subsidiary of Lundin Mining Corp.
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