BHP and Luminex make Ecuador earn-in binding

Canadian junior Luminex Resources on Monday announced the signing of a formal earn-in and joint venture (JV) agreement with a wholly-owned subsidiary of BHP, which would earn into two mining concessions in Ecuador.

Ultimately, the major will have the right to earn a 70% interest in a JV company holding Luminex’s Tarqui and Tarqui 2 mining concessions. BHP will act as manager and operator of the JV.