GoldUSD 1,924.70
SilverUSD 25.02



NuevaUnión is one of the largest undeveloped copper-gold-molybdenum projects in the Americas. The project is located in the Atacama region of Chile and is comprised of two orebodies, Relincho and La Fortuna(4), which are 40km apart. The two orebodies were combined to create NuevaUnión which is owned 50/50 by Teck and Newmont.

The NSR covers the Cantarito claim which is part of the proposed open-pit La Fortuna deposit shown below and prospective exploration ground southeast. The Cantarito Claim covers at least 8% of the tonnes at La Fortuna.(3)


Interest: 2% NSR Royalty

Location: Atacama, Chile

Project Status: Development

Counterparty: Newmont Corporation (NYSE:NEM) 50% and Teck Resources (NYSE:TECK) 50%

Newmont and Teck disclose that Project NuevaUnión has:

La Fortuna – Reserves (100% basis) (1)

Category Tonnes (millions) Copper Grade (%) Contained Metal (000 t) Gold (g/t) Gold (millions of ounces)
Proven 333.6 0.58 1,935 0.55 5.90
Probable 243.2 0.45 1,094 0.38 2.97
Proven + Probable 576.7 0.53 3,057 0.48 8.90

La Fortuna – Resources (100% basis) (1)(2)

Category Tonnes (millions) Copper Grade (%) Contained Metal (000 t) Gold (g/t) Gold (millions of ounces)
Measured 0.4 0.56 224 0.47 0.006
Indicated 52.8 0.67 353 0.85 1.44
Inferred 377 0.51 1,923 0.55 6.67


(1)  Source Teck Resources 2018 Annual Information Form

(2)  Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

(3)   2012 pit design disclosed by New Gold Corp in their 2012 El Morro Feasibility Technical Report.

(4)   La Fortuna was previously known as El Morro under the controlling ownership of Goldcorp and New Gold

A prefeasibility study was completed in early 2018 which showed production of 224,000 tonnes of copper, 269,000 oz of gold, and 1,700 tonnes of molybdenum on average over the first 5 years, which incorporates key design changes to improve project economics and respond to input from communities and Indigenous Peoples. A Feasibility Study was commenced in the third quarter of 2018 and as previsouly guided by Teck to be completed by the end of 2019 with a projected 2024 project startup date.


In August 2015, Teck and Newmont announced an agreement to combine their respective Relincho and La Fortuna projects, located approximately 40 kilometres apart in the Huasco Province in the Atacama region of Chile, into a single a 50/50 joint venture, being Project NuevaUnión. This approach will provide a number of key benefits, including reduced environmental footprint; lower cost and improved capital efficiency; optimized mine plan; enhanced community benefits and greater returns over either standalone project.