TORONTO, Aug 27 (Reuters) - Goldcorp Inc G.TO , the world's
most valuable gold miner, and diversified miner Teck Resources
Ltd TCKb.TO said on Thursday that they have agreed to form a
joint venture to combine and develop neighboring projects in
Chile.
In a move that will cut development costs as metal prices
languish at multi-year lows, Goldcorp will combine its El Morro
project with Teck's Relincho project.
A preliminary economic assessment plans a conveyor to
transport ore from the El Morro to a single line mill at
Relincho. An initial capital cost target of $3.5 billion to
bring the two projects into production compares to previous
estimates of $3.9 billion for El Morro and $4.5 billion for
Relincho.