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US miner sells Bolivian silver mine

Photo by Coeur Mining
Photo by Coeur Mining
Publicerad av
Jaroslaw Adamowski - 27 dec 2017

US miner sells Bolivian silver mine

 

Mine acquisition US miner Coeur Mining has signed a deal to sell its San Bartolomésilver mine in Bolivia to Sweden's Argentum Investments. The asset is estimated to have some 21.1 million oz of proven and probable reserves. 

 

The mine is operated by Coeurs local subsidiary Empresa Minera Manquiri which owns San Bartolomé and a processing facility located near Potosí, Bolivia.

 

"The Agreement provides that Manquiri will be sold to a privately-held Swedish company owned by a group of Mexican individuals with extensive mining experience in Latin America," Coeur said in a statement.

 

Under the deal, Coeur is to obtain a 2% net smelter returns royalty worth about $5 million, all re-funds of pre-closing value-added tax (VAT) whose outstanding balance was $13 million as of 30 November, and one-year promissory notes with an aggregate principal amount equal to Manquiris cash and cash equivalents. Manquiris cash and cash equivalents were $28 million as of November 30, the statement said.

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