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Newcrest will pay Toronto-listed Imperial Metals Corp $US806.5 million ($A1.145 billion) for a majority stake in a Canadian copper and gold mine.

The Australian gold miner will acquire a 70 per cent joint-venture interest in the Red Chris mine and surrounding tenements in British Columbia.

Newcrest will also operate the mine, which is estimated to contain 20 million ounces of gold and 13 billion pounds of copper.