Junior silver miner Great Panther Silver (TSX: GPR; NYSE: GPL) has acquired Belgian smelting giant Nyrstar’s idled Coricancha gold-silver-lead-zinc-copper mine and mill complex, 90 km east of Lima, Peru.
The 600-t/d underground mine, which has been under care and maintenance since 2013, could boost Great Panther’s metal production by 3 million oz. silver eq., or 75%, once back in operation.
Great Panther president and CEO Robert Archer tells The Northern Miner during a phone interview that the acquisition is part of his company’s plan to expand further into Latin America. Archer says the best way to grow the company is through acquisition, as its two operations in Mexico – the Guanajuato silver-gold mine complex, which includes the San Ignacio mine, and the Topia silver-lead-zinc mine – are “at full capacity.”
“I’ve been trying to get something going in Peru for seven years,” he says. “We’ve negotiated on other assets in the past but they’ve always fallen through.
Continue reading at The Northern Miner.