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Cerro de Pasco Resources Announces Sale of Santander Mine to FIC03

Sep 03, 2024•almost 2 years ago

Contract Type

agreement

Saint-SauveurMining

Description

Cerro de Pasco Resources Inc. has entered into a share purchase agreement with FIC03 Fondo de Inversión Privado for the sale of its Santander Mine in Peru. The transaction includes the sale of the shares of its Peruvian subsidiary holding the interest in the mine, with consideration comprising of a cash component of $2.00 and a variable price of up to $10,000,000.

Company Information

Company

Cerro de Pasco Resources

Location

Saint Sauveur, Quebec, Canada

About

Cerro de Pasco Resources Inc. (CDPR) is a mining and resource management company, with the goal to become the next mid-tier producer of base metals in Peru. CDPR is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising mineral tailings and stockpiles extracted from the Cerro de Pasco open-pit mine in central Peru. The company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. CDPR is also focused on the mining, development and exploration of its wholly-owned 6,000-hectare Santander Mine in the highly prospective Antamina-Yauricocha Skarn Corridor, located 215 km from Lima. CDPR founded on clear the objectives, to engender long-term economic sustainability and benefit for the local population, from an economic, social and health point of view.

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