August 30, 2019 |
Brazil's Nexa Resources said it has agreed to buy the remaining 30% stake in the Aripuanã zinc project through the acquisition of the Canadian mining company Karmin Exploration for $70m.
The São Paulo-based mining company, formerly known as Votorantim Metais, will be the sole owner of the Aripuanã project in the state of Mato Grosso after it closes the transaction.
Nexa will pay $69.3m, or $0.77 per share, for Karmin and also provide a loan for $700,000 as part of the deal. Karmin's shares trade
Brazilian mining company pays $70m to take sole control of the zinc project in Mato Grosso