Hochschild Mining PLC (LON:HOC) has announced that it has closed the sale of its former mine, Arcata, and the Azuca project to Sierra Caraz S.A.C. for an undisclosed sum. The sale of both assets is part of Hochschild’s strategy to concentrate on its core assets in Peru: the Inmaculada mine and the Pallancata-Royropata project, as well as its assets in Brazil and Argentina.
Arcata, an underground mine with a predominance of silver located in the department of Arequipa, began production in 1964 and was in operation until February 2019, when it was placed under care and maintenance. The Azuca project, located in the departments of Cusco and Apurimac, is predominantly a silver project located 60km from Arcata.
Sierra Caraz is a company linked to Sierra Sun Precious Metals S.A.C., a private group that operates mines in Peru.
LXG Capital acted as financial advisors and Miranda & Amado as legal advisors to Hochschild Mining.
