Trevali Mining has completed its divestment of its 100% interest in the Santander zinc-lead-silver operation in Peru to Cerro De Pasco Resources.
The deal, first announced 8 November, was made for C$1 million in cash, 10 million common shares of CDP and a 1% net smelter return royalty on some areas of Santander.
Trevali said it sold the mine to focus on debt reduction, capital allocation and the RP2.0 expansion project at its Rosh Pinah asset in southwestern Namibia.
The polymetallic Santander mine is located in west-central Peru, in the Western Cordillera section of the Andes Mountain range.
The remainder of Trevali’s portfolio includes the 90%-owned Perkoa mine in Burkina Faso, the 90%-owned Rosh Pinah mine and the wholly owned Caribou mine in northern New Brunswick, Canada.
Trevali additionally owns the Halfmile and Stratmat properties and the Restigouche deposit in New Brunswick, a 44% interest in the Gergarub project in Namibia, and has an option to acquire a 100% interest in the Heath Steele deposit in New Brunswick.
Source: Trevali Mining