By Allison Prang
Lundin Mining Corp. (LUN.T) is buying Yamana Gold Inc.'s (AUY, YRI.T) complete stake in Mineracao Maraca Industria e Comercio S/A for $800 million in cash, Lundin said Monday.
Mineracao Maraca Industria e Comercio owns the Brazil copper-gold mine called Chapada.
Lundin, which is based in Toronto, also said that Yamana will get a contingent consideration of as much as $125 million over five years if specific thresholds for the price of gold are met. Yamana also will get contingent consideration of $100 million on a pyrite roaster possibly being built, Lundin said.
Yamana will keep a 2% net smelter return "royalty on future gold production from the Suruca gold deposit," Lundin said.
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