BRIEF-Antofagasta says Northern Minerals Investment not to acquire 25 pct of TMM

Thu Jul 3, 2014 10:38am EDT
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July 3 (Reuters) - Antofagasta Plc :

* Northern Minerals Investment (Jersey) Limited has terminated, with immediate effect, its option to acquire an additional 25% of Twin Metals Minnesota LLC (TMM)

* Following termination of option, Duluth Metals will control management and development of twin metals project

* Duluth Metals does not exercise its buy-back right, Antofagasta will continue to own 40 pct of TMM and Duluth Metals will be required to repay bridge loan facility

* Is evaluating its options with respect to its continued 40 pct interest in TMM and its direct shareholding in Duluth Metals Source text for Eikon: Further company coverage: