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Mineros SA Alluvial Gold Mining Barge in Antioquia, Colombia Mineros SA Alluvial Gold Mining Barge in Antioquia, Colombia Source: Mineros SA

Canada’s Para Resources Buys Mineros SA Subsidiary in Colombia

Published in Companies Written by  January 10 2020 font size decrease font size increase font size 0
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Medellin-based international gold mining giant Mineros SA announced January 9 that it sold 100% of its “Operadora Minera SAS” subsidiary in Colombia to Canada-based gold miner Para Resources.

“The offer includes the sale of 100% of the shares of Operadora Minera and the mining title ‘GJJ101’ corresponding to the Nechi [Antioquia] project for a total value of US$5.5 million payable in cash in two facilities,” according to Mineros.

Besides operations in Canada and Brazil, Para already owns and operates a high-grade gold mine near Zaragoza, Antioquia, the company added.

“With this transaction, Mineros concentrates its activities in Colombia in the alluvial operation, which today represents 85% of the company’s production in this country,” said Santiago Cardona, Mineros vice president.

“In turn, with our recent exploration agreement with Royal Road Minerals in western Antioquia, we will continue to strengthen our operation in Colombia as a strategic jurisdiction for the mining group, through the acquisition of new operations and the optimization of current ones,” Cardona added.

Mineros SA has an exceptional reputation for environmentally and socially responsible mining in Colombia and has recently expanded operations to Argentina, Chile and Nicaragua.

 

Read 185 times Last modified on Last modified on January 10 2020

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Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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