Pan American Silver completes $4.8bn acquisition of Yamana Gold in Canada

Photo: Pan American Silver

Pan American Silver has completed its previously announced acquisition of all of the issued and outstanding common shares of Yamana in a cash and stock deal.

The arrangement expands Pan American’s portfolio with the addition of four mines.

Among these are the Cerro Moro mine in Argentina, the El Peón and Minera Florida mines in Chile, and Brazil’s Jacobina mining complexes.

“This acquisition is transformative for Pan American, significantly increasing the scale of our operations in Latin America where we have been operating for nearly three decades,” said Michael Steinmann, President and Chief Executive Officer of Pan American.

“We expect a material increase in our production of silver and gold, while we continue to provide a preferred way to invest in silver through large silver mineral reserves and growth opportunities, further enhanced by the increase in our market capitalization and trading liquidity. The acquisition is firmly aligned with our strategy of creating value by pursuing attractive growth opportunities, improving operating margins and extending mine life.”