Jinteng Mining Acquires La Arena Mine in Peru from Pan American Silver

Jinteng Mining, part of Zijin Mining Group, has acquired the La Arena mine in Peru from Pan American Silver. The ownership transfer received regulatory approval, marking a key development in foreign investment within the Peruvian mining sector.

Jinteng Mining, a subsidiary of China’s esteemed Zijin Mining Group, has officially acquired ownership of the La Arena open-pit mine and project in Peru from Canadian miner Pan American Silver, as announced on Tuesday. This acquisition was first revealed in May and has now successfully received the necessary regulatory approvals to proceed. The transaction marks a significant development within the mining sector, showcasing increasing international investments in Peru’s mining landscape.

The acquisition of the La Arena mine by Jinteng Mining underscores the growing trend of foreign investments in Peru’s mining industry. Peru is known for its rich mineral resources and has attracted global companies seeking to capitalize on various mining opportunities. This strategic move reflects Zijin Mining’s ambitions to expand its international presence, particularly in North American and South American markets, thereby facilitating the growth of its portfolio in precious metals.

In conclusion, Jinteng Mining’s acquisition of the La Arena open-pit mine illustrates the ongoing interest of international firms in Peru’s mining sector. The approval and completion of this deal highlight both Zijin Mining’s strategic goals and the potential for significant development within the region’s mining industry.

Original Source: www.northernminer.com