Minera Andes to spin out Los Azules project

Minera Andes (MAI.TO: Quote) said on Thursday it plans to spin out its Los Azules copper project in Argentina into a new publicly traded company.

The Toronto-based exploration company said the move will let it unlock value from Los Azules and allow it to focus on developing its San Jose gold-copper project, which is located in the vicinity of Goldcorp’s (G.TO: Quote) recently acquired Cerro Negro project in Argentina.