International news within the industry of mining and metal, Jul, 17 2019
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Gold producer invests in Peruvian copper-gold-silver project

Photo: Chakana Copper
Photo: Chakana Copper
Published by
Jaroslaw Adamowski - 03 May 2019

South American project Gold Fields, the world’s seventh largest gold miner by production, has signed a deal to invest in Canada’s Chakana Copper. The latest transaction will allow the Canadian busi-ness to advance its project in Peru.


“The net proceeds of the financing will be used to advance the explo-ration and development of the company’s Soledad copper-gold-silver project in central Peru,” Chakana Copper said in a statement.


Under the deal, Gold Fields will acquire a 16.14% stake in the Cana-dian miner for a total of C$8 million (US$6 million).


Gold Fields operates seven mines worldwide, located in Australia, Ghana, Peru, and South Africa, and is part of a joint venture on an operating mine. The group has a total attributable gold-equivalent production of some 2.2 million oz per year, according to data from Chakana Copper.