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Hochschild Mining PLC on Monday said it has completed the acquisition of Amarillo Gold Corp.
The London-based gold and silver miner operating in North, Central & South America received the necessary shareholder approval for the acquisition last month.
Hochschild announced the C$135 million, or $105.6 million, acquisition of the Toronto-based miner in November.
Amarillo is the owner of the Posse gold project in Brazil. The acquisition is intended to expand Hochschild into Brazil and enhance the company's pipeline.
‘We are delighted to have closed the acquisition of Amarillo which adds the exciting Posse project in Brazil to our portfolio. We can look forward to the commencement of construction and the opportunity to generate strong sustainable value for the company and the project's local stakeholders,’ Chief Executive Ignacio Bustamant said.
Hochschild shares were trading 0.4% lower at 130.00 pence each in London on Monday morning.
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