Hochschild Mining PLC (HOC.L) Wednesday has completed the sale of its former Arcata mine and the Azuca project to Sierra Caraz S.A.C. for an undisclosed amount. The divestment aligns with the company's strategy to focus on its core assets in Peru, Brazil, and Argentina, including the Inmaculada mine and Pallancata-Royropata project.
Arcata, an underground silver mine in Arequipa, operated from 1964 until it was placed under care and maintenance in 2019. The Azuca project, located in Cusco and Apurimac, is a silver deposit situated 60 km from Arcata.
Sierra Caraz is affiliated with Sierra Sun Precious Metals S.A.C., a private mining group in Peru. LXG Capital served as Hochschild's financial advisor, while Miranda & Amado provided legal counsel.
Wednesday HOC.L closed at $194 or 5.43% higher on the LSE.
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