The Colombian gold mining company Mineros S.A. has completed the acquisition of the remaining 80% stake in the La Pepa project from the Canadian Pan American Silver Corp. for $40 million. This is reported in the Mineros press release.
As part of the deal, Mineros becomes the sole owner of the La Pepa gold ore asset in the Maricunga Gold Belt region of Chile and liquidates the joint venture with Pan American.
The La Pepa project, located at an altitude of 4,000 meters above sea level in the Andes, has a significant base of mineral resources and complements the Porvenir project in Nicaragua, strengthening Mineros' strategic presence in Chile and expanding the company's diversified portfolio in Latin America.
Mineros S.A. is a Colombian gold mining company that develops gold and silver deposits in Central and South America. The company has assets in Colombia and Nicaragua. The company is also engaged in the production of hydroelectric power. The headquarters is located in Medellin, Colombia. Mineros is a subsidiary of Sun Valley Investments AG.
Pan American Silver Corp. is a Canadian mining company and one of the largest silver producers in the world. The company is engaged in the exploration and development of silver, gold, zinc, lead and copper deposits, as well as the enrichment and reclamation of mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil. The headquarters is located in Vancouver, Canada.
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