https://newsletter.mw.creamermedia.com
Copper|Gold|Mining|PROJECT
Copper|Gold|Mining|PROJECT
copper|gold|mining|project

Canada approves Pan American’s Peru asset sale to Zijin

The La Arena mine in Peru

The La Arena mine in Peru

6th November 2024

By: Creamer Media Reporter

     

Font size: - +

The government of Canada has approved Pan American Silver’s sale of its La Arena mine and project in Peru to a subsidiary of China’s Zijin Mining Group.

The approval, which was granted under the Investment Canada Act, is subject to a joint undertaking from Pan American and Zijin to enter into an offtake agreement in respect of the La Arena II project, which will enable Pan American to secure 60% of the future copper concentrate supply from the La Arena II project on commercial terms for sale in North American markets, following the commencement of commercial production.

The transaction now has all the necessary regulatory approvals and is expected to close by the end of the fourth quarter of 2024.

Under the terms of the agreement for the La Arena sale, upon closing, Zijin will pay $245-million in cash and grant to Pan American a life-of-mine gold net smelter return royalty of 1.5% for the La Arena II project.

Once commercial production from the La Arena II project starts, the agreement provides for an additional contingent payment from Zijin of $50-million in cash.

Pan American Silver produces silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. It also owns the Escobal mine in Guatemala that is currently not operating.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 
Invincible Valves
Invincible Valves

Established in 1982, Invincible Valves is a medium-sized enterprise in Germiston, serving global and local markets.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (21/11/2025)
21st November 2025 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.126 0.21s - 143pq - 2rq
Subscribe Now