Zijin Mining: intends to acquire La Arena copper and gold mine in Peru

On November 7th, Jin10 data reported that Zijin Mining announced its plan to acquire 100% equity of Peru's La Arena copper-gold mine project under Pan-American Silver. The core Phase II project retains copper resources of 2.785 million tons and gold resources of 196.5 tons. The consideration for this acquisition includes a one-time payment of USD 245 million upon delivery, as well as the rights to receive USD 50 million or 1.5% of the net gold smelting revenue from Phase II after commercial production.