Hochschild Boosts Inmaculada Stake to 60%

Hochschild Boosts Inmaculada Stake to 60%

Peru M&A

Peruvian mining company Hochschild is acquiring a 30% stake in the Inmaculada gold and silver project in the southern part of the country, bringing its total stake to 60%. The deal involves an initial cash consideration of $15m, an agreement to fund the project's first $100m of capex and a $20m private placement with Arizona-based joint venture partner International Minerals, which is selling the 30% to Hochschild. The buyer says in a statement that based on spot prices of $1,300/oz and $22.1/oz

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