{"id":1152399,"date":"2019-11-28T16:13:54","date_gmt":"2019-11-28T22:13:54","guid":{"rendered":"https:\/\/www.mining.com\/?p=1007977"},"modified":"2019-11-28T16:13:54","modified_gmt":"2019-11-28T22:13:54","slug":"cerro-de-pasco-acquires-all-volcans-mining-assets-in-peru-for-30-million","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1152399","title":{"rendered":"Cerro de Pasco acquires all Volcan\u2019s mining assets in Peru for $30 million"},"content":{"rendered":"<p>Cerro de Pasco&nbsp;Resources&nbsp;(CSE&nbsp;:&nbsp;CDPR)&nbsp;announced&nbsp; that&nbsp;it has executed a definitive share purchase deal&nbsp;with&nbsp;Volcan&nbsp;Compa\u00f1ia&nbsp;Minera S.A.A. and its subsidiaries, whereby CDPR will acquire all of the issued shares of&nbsp;Oxidos&nbsp;de Pasco S.A.C.,&nbsp;Empresa&nbsp;Administradora&nbsp;de Cerro S.A.C &nbsp;and&nbsp;Remediadora&nbsp;Ambiental S.A.C. (the Target Companies).&nbsp;&nbsp;<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The&nbsp;transaction will grant CDPR ownership and operation of all mining and processing assets in Cerro de Pasco, central Peru.&nbsp;Cerro de Pasco&nbsp;was one of the oldest and largest polymetallic mines in the world, operating for almost 400 years.&nbsp;<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Cerro de Pasco&nbsp;was one of the oldest and largest polymetallic mines in the world, operating for almost 400 years&nbsp; <\/p>\n<\/blockquote>\n<\/figure>\n<p>Under the terms of the deal, 100% of the Target Companies\u2019 issued and outstanding common shares will be acquired by CDPR for $30 million, a variable consideration and a net smelter royalty over the concessions.&nbsp;&nbsp;<\/p>\n<p>CDPR will acquire all the Target Companies\u2019 permits, licenses and concessions.<strong>&nbsp;<\/strong>The gold-silver properties are located at the Cerro de Pasco mining complex and consist of the&nbsp;Oxidos&nbsp;precious metals leach processing facility, permitted at 2,500tpd; the&nbsp;Paragsha&nbsp;base and precious metals concentrator, permitted at 17,500tpd; the San&nbsp;Expedito&nbsp;base and precious metals concentrator, permitted at 1,800tpd; the Santa Rosa oxide open pit that hosts mineral for processing through the&nbsp;Oxidos&nbsp;plant, and the Raul Rojas&nbsp;sulphide&nbsp;open pit, the Lourdes and Excelsior underground shafts, all associated surface infrastructure&nbsp;and over 12,000 hectares of exploitation and exploration concessions that host existing porphyry exploration potential.&nbsp;<\/p>\n<p>CDPR has already acquired the mineral rights on the Excelsior mineral pile and the&nbsp;Quiulacocha&nbsp;tailings on the El&nbsp;Metalurgista&nbsp;mining concession and plans to complete a 43-101 resource calculation in a near future.&nbsp;<\/p>\n<p>Volcan&nbsp;will receive a royalty of 2% of the net smelter return and will an offtake in respect of 100% of all zinc and lead concentrates from ore resources owned by Cerro SAC&nbsp;as well as a right of first refusal to purchase all concentrates produced from CDPR\u2019s El&nbsp;Metalurgista&nbsp;concessions.&nbsp;<\/p>\n<p>At market close Thursday, CDPR\u2019s stock was up 4.3% on the CSE. The company has a C$89.8 million market capitalization.&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cerro de Pasco was one of the oldest and largest polymetallic mines in the world, operating for almost 400 years.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1152399"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1152399"}],"version-history":[{"count":7,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1152399\/revisions"}],"predecessor-version":[{"id":1152421,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1152399\/revisions\/1152421"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1152399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1152399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1152399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}