View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
August 11, 2009

Gold Hawk to Sell Majority Stake of Coricancha Mine

Canadian precious metals company Gold Hawk Resources has signed a non-binding agreement to sell an 85% interest in the Coricancha mine located east of Lima in Peru. Under the agreement, an unnamed firm has agreed to pay $15m cash in return for the Peruvian operating subsidiary and assu

By cms admin

Canadian precious metals company Gold Hawk Resources has signed a non-binding agreement to sell an 85% interest in the Coricancha mine located east of Lima in Peru.

Under the agreement, an unnamed firm has agreed to pay $15m cash in return for the Peruvian operating subsidiary and assume its $13m senior debt facility.

The partner will also provide a $20m loan to fund infrastructure and start-up costs for the mine, including a new permanent tailings facility at Chinchan, Gold Hawk said.

Gold Hawk said it has obtained all necessary permits required to re-start the mine and construct the new tailings facility.

The partner has been granted 60 days to complete its due diligence review and to negotiate and execute definitive documentation.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology