Freeport (NYSE:FCX) Completes Sale of Swedish Assets to Eurasian Minerals (CDNX:EMX.V)

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has completed its sale of a Swedish subsidiary to Eurasian Minerals Inc. (CDNX:EMX.V).

The press release said this about the deal:

"The Swedish subsidiary holds 1.0% net smelter return ("NSR") royalties over two advanced copper projects in northern Sweden - the Viscaria and Adak Projects - being developed by Avalon Minerals Ltd. (ASX:AVI). A Finnish company, Outokumpu Oyj, is entitled to receive 0.5% NSR royalties from the projects resulting in Eurasian receiving net 0.5% NSR royalties until Outokumpu has received an aggregate of US $12 million in royalty payments. The subsidiary also owns two exploration permits and a comprehensive exploration database. The purchase price was US$150,000 and 160,000 common shares of Eurasian, which are subject to restrictions on transfer in Canada until December 12, 2010."

The strategy of Eurasian Minerals is to build a royalty portfolio in places under the radar of most large companies, which this asset fits perfectly with.