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Terra ends exploration

Terra ends exploration

TERRA Energy and Resources Technologies announced late Tuesday that it had wrapped up its contracted exploration for gold, rubies and marble on two Cambodian properties of Millennium International Group LLC. New York-based Terra said in a statement that it would prepare proposals aimed at securing the next stage of exploration and early extraction work at the sites. Under an agreement, the firm is entitled to collect 2 percent of royalties on the properties and pursue a 10 percent co-investment right, which the firm is considering, said CEO Dmitry Vilbaum.

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