Pan American Silver (TSE:PAAS) has released an update.
Pan American Silver Corp. has announced the sale of its La Arena gold mine and the La Arena II project in Peru to Zijin Mining for $245 million in cash plus a potential $50 million contingent payment. The deal also secures Pan American a 1.5% net smelter return royalty on the La Arena II project. This strategic transaction aims to strengthen Pan American’s financial position and focus on high-quality assets and shareholder returns.
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