Rio Tinto could access up to 75% of the Borosi project in the northern region of the country, 275 km from Managua. Borosi hosts gold-silver and gold-copper deposits in two areas, as well as gold- copper skarns in still unexplored regions, low-sulphurization gold-copper epithermal systems and porphyry copper. Both companies signed a strategic partnership agreement to identify and acquire new exploration concessions in Nicaragua. Rio Tinto will have a five year option to buy 55% of Borosi, with an investment of US$10 million in qualification expenses. Successive investments of US$15
and 20 million over the following six years could leave the company with
control over 75% of the property.