News
Kinross sells Pac-Rim stake for US$16.9mn
Bnamericas Published: Wednesday, December 31, 2003
Toronto-based miner Kinross Gold (NYSE: KGC) reported the sale of its entire 22% stake in Vancouver-based Pacific Rim Mining (Pac-Rim, TSX: PMU) for net proceeds of Cdn$21.8mn (US$16.9mn). Kinross said the investment was "deemed not to be strategic to Kinross on a going-forward basis." Kinross picked up its Pac-Rim holding on April 11, 2002 as a result of the merger of Pac-Rim and fellow Canadian Dayton Mining, in which Kinross had been a significant shareholder. Pac-Rim is focused on developing the El Dorado gold project in El Salvador and has 49% of the Denton-Rawhide gold mine in the US state of Nevada. Kinross' regional interests include the La Coipa and Refugio gold mines in Chile and Brasilia and Crixas gold mines in Brazil. Pac-Rim shares closed at Cdn$1.12 Tuesday, down 41% from Cdn$1.58 on December 12 when Kinross notified Pac-Rim it planned to sell the stake.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Mining & Metals
The hurdles Colombia's mining industry needs to overcome
BNamericas spoke to Laura Lizarazo, global risk analyst at consultancy Control Risks, about the problems affecting the mining industry in Colombia.
Potential ban on open-pit mining in Mexico causes concern in Chile
Since Mexico's ruling coalition has secured a substantial majority in both legislative chambers, the expectation is that the initiative will be app...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Mining & Metals
Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Peñas Negras
- Current stage:
- Updated:
6 days ago
- Project: San Felipe
- Current stage:
- Updated:
6 days ago
- Project: Suyana
- Current stage:
- Updated:
6 days ago
- Project: Paracatu
- Current stage:
- Updated:
1 week ago
- Project: Pucaccasa
- Current stage:
- Updated:
6 days ago
- Project: Filo del Sol
- Current stage:
- Updated:
1 week ago
- Project: Ferrobamba expansion
- Current stage:
- Updated:
1 week ago
- Project: Telix
- Current stage:
- Updated:
6 days ago
- Project: Pachapaqui expansion
- Current stage:
- Updated:
6 days ago
- Project: Santo Domingo Port
- Current stage:
- Updated:
1 week ago
Other companies in: Mining & Metals
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Macusani Yellowcake S.A.C. (Macusani Yellowcake)
-
Macusani Yellowcake S.A.C., formerly Global Gold S.A.C., is a mineral exploration company, subsidiary of Canada's American Lithium Corp. It engages in exploring for uranium and ...
- Company: Minerales Córdoba, S.A.S. (Minerales Córdoba)
-
Minerales Córdoba, S.A.S. is a Colombian mining company based in Medellín, branch of the Canadian firm Cordoba Minerals Corp., which was established in 2011 to acquire, explore,...
- Company: Mineros S.A. (Mineros)
-
Mineros develops alluvial and underground operations in the Colombian municipalities of El Bagre, Zaragoza, Nechí and Bajo Cauca Antioqueño, in Antioquia department. Via its sub...
- Company: Volcan Compañía Minera S.A.A. (Volcan)
-
Volcan Compañía Minera S.A.A. is a Peruvian polymetallic miner engaged in the exploration and production of zinc, copper, silver, and lead in the country's Sierra Central region...
- Company: R&Q Ingeniería S.A. (R&Q Ingeniería)
-
R&Q Ingeniería S.A. offers solutions in planning, design, project management, feasibility studies and technical inspection for projects related to infrastructure. A key componen...
- Company: Sociedad Minera de Santander S.A.S. (Minesa)
-
Sociedad Minera de Santander S.A.S. (Minesa), formerly AUX, is a Colombian gold miner focused on developing the underground Soto Norte gold project, located in the country's San...
- Company: Galán Litio S.A. (Galán Litio)
- Company: Compañía Minera Raura S.A. (Raura)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
