Stocks and Investing Stocks and Investing
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Pan American Silver Completes the Sale of La Arena

Pan American Silver Completes the Sale of La Arena


Published on 2024-12-03 20:31:21 - Thomas Matters, WOPRAI
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  • Detailed price information for Pan American Silver Corp (PAAS-T) from The Globe and Mail including charting and trades.

Pan American Silver Corp. announced the completion of the sale of its 100% interest in the La Arena gold mine in Peru to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co. Ltd., for $245 million in cash. The transaction, initially agreed upon in November 2022, also includes the sale of the La Arena II project. The sale aligns with Pan American Silver's strategy to focus on its core assets, enhancing its portfolio by divesting non-core assets. The company plans to use the proceeds to strengthen its balance sheet, fund exploration and development projects, and for general corporate purposes. The La Arena mine, which has been operational since 2011, produced 100,000 ounces of gold in 2022.

Read the Full The Globe and Mail Article at:
[ https://www.theglobeandmail.com/investing/markets/stocks/PAAS-T/pressreleases/29863551/pan-american-silver-completes-the-sale-of-la-arena/ ]
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