Pan American Silver Completes the Sale of La Arena
Pan American Silver Corp. (PAAS)
Last pan american silver corp. earnings: 2/19 07:59 pm
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panamericansilver.com/investors
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Source: Business Wire
VANCOUVER, British Columbia--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American”) yesterday completed the previously announced divestment of its 100% interest in La Arena S.A. (“La Arena”), which owns the La Arena gold mine as well as the La Arena II project in Peru, to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co., Ltd. (collectively, “Zijin”).Under the terms of the agreement, Zijin paid US$245 million in cash consideration and granted Pan American a life-of-mine gold net smelter return royalty of 1.5% for the La Arena II project. Upon commencement of commercial production from the La Arena II project, the agreement provides for an additional contingent payment from Zijin of US$50 million in cash.As part of the approval received from the Government of Canada under the Investment Canada Act, Pan American and La Arena entered into an offtake agreement in respect of the La Arena II project, which will enable Pan American
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PAAS
Earnings
- 11/5/24 - Beat
PAAS
Sec Filings
- 12/9/24 - Form 6-K
- 12/3/24 - Form 6-K
- 11/14/24 - Form SC
- PAAS's page on the SEC website