Announced
Completed
Financials
Tags
zinc mining
Acquisition
Armenia
Private
copper mining
gold mining
Completed
General Mining
Friendly
Majority
Single Bidder
Synopsis
Chaarat Gold Holdings, a gold mining company, completed the acquisition of Kapan Mine, a zinc, copper and gold mine in Armenia, from Polymetal, a precious metals mining company, for $55m. “The sale of Kapan is a step towards shrinking Polymetal’s asset base to focus on large long-life projects. The transaction will have immediate benefits as it is expected to improve our cost position and reduce leverage. On behalf of Polymetal, I would like to thank the team at Kapan for their hard work and dedication and wish them all the best going forward,” Vitaly Nesis, Polymetal Group CEO.
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