09:55 AM EST - Yamana Gold Inc. : Has agreed to sell the wholly-owned Chapada mine to Lundin Mining Corporation for total consideration of over $1.0 billion. Chapada, located in the State of Goiás, Brazil, is a copper mine with additional gold production that was developed by the Company and began production in 2007. Under the terms of the agreement with Lundin, Yamana will receive cash consideration of $800 million at closing, additional consideration of up to $125 million based on the price of gold, a $100 million payment contingent on the development of a pyrite circuit to optimize the operation, and a royalty on the adjacent Suruca gold project. Yamana Gold Inc.
shares T.YRI are trading down $0.13 at $3.29.
