Canadian Mining Journal

News

Pan American to buy Tahoe for US$1B in controversial offer


Pan American Silver’s (TSX: PAAS; NASDAQ: PAAS) friendly acquisition of Tahoe Resources (TSX: THO; NYSE: TAHO) in a cash-and-share deal valued at US$1.07 billion will double the company’s silver reserves and create the largest publicly traded silver mining company by free float.

Tahoe Resources owns and operates the Escobal silver mine in Guatemala (now on care and maintenance), the La Arena and Shahuindo gold mines in Peru, and the Timmins West-Bell Creek complex in Canada, as well as a number of exploration and development projects.

Pan American — already the world’s second-largest primary silver producer — owns and operates six mines in Mexico, Peru, Argentina and Bolivia, and its wholly owned Navidad project in Argentina’s Chubut province is one of the world’s largest undeveloped silver deposits.

Continue reading at The Northern Miner.