Zijin Mining Group (HKG:2899, SHA:601899) through its overseas subsidiary Jinteng (Singapore) Mining acquired 100% stake in the La Arena Gold Mine and La Arena II copper-gold project in Peru from Pan American Silver for $245 million, a Tuesday Hong Kong bourse filing said.
The transaction also involves a $50 million contingent payment and a 1.5% NSR payable on commercial production from La Arena II. The transaction was approved by the relevant Chinese and Canadian authorities.
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