Hochschild Mining (GB:HOC) has released an update.
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Hochschild Mining has exercised its option to fully acquire the Monte Do Carmo Project in Tocantins, Brazil, from Cerrado Gold Inc. for a total consideration of $60 million. This strategic acquisition aims to enhance Hochschild’s growth pipeline, leveraging the project’s substantial gold resources and advanced permitting status. The transaction aligns with Hochschild’s strategy to strengthen its presence in mining-friendly regions and is expected to bolster the company’s portfolio without increasing net debt.
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