CAPITAL MARKETS

Major CVRD deal for Aquila

PERTH-based explorer Aquila Resources has signed a deal with Brazilian mining giant CVRD that will give the major an option to acquire an initial 51% interest in the Belvedere underground coal project in Queensland for a total $US95 million.

Jesse Riseborough
Major CVRD deal for Aquila

The terms of the deal will see CVRD pay both Aquila, and its current joint venture partner AMCI Holdings, $US2.5 million in the next ten days with a further $US45 million required to be paid to each party...

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