Rio Algom sells 25% interest in Alumbrera Mine for US$180 million

On June 24, 2003, Wheaton River Minerals Ltd. and Northern Orion Resources Inc. acquired from Rio Algom Limited through jointly-owned holding companies, an indirect aggregate 25% interest in the Bajo de la Alumbrera mine in Argentina through the indirect purchase of shares in Minera Alumbrera Ltd., and through the acquisition of subordinated debt associated with the project. The aggregate purchase price paid was US$180 million.

Rio Algom was represented by in-house counsel Michael Neumann and Mary Prendergast, and in Toronto by Bruce Blain, Gregory Ho Yuen and Thomas Meagher of Fasken Martineau.