Andean Precious Metals completed the acquisition of Golden Queen Mining from Auvergne Umbrella for $66m.

Andean Precious Metals, a Canada-based company, which is a precious metals producer, completed the acquisition of Golden Queen Mining, a company that owns and operates the Soledad Mountain Project located in Kern County, from Auvergne Umbrella for $66m. "Andean's acquisition of Golden Queen represents an important step towards achieving our vision of becoming a multi-jurisdictional mid-tier producer in the Americas. After an extensive review of available acquisition targets and thorough due diligence, Golden Queen stood out as a strong foundational asset that sets us up to diversify and increase annual production and move into a tier one mining jurisdiction. Furthermore, the structure of the transaction and its payment terms allow us to maintain our strong cash liquidity position and pursue other opportunities for future growth," Alberto Morales, Andean Precious Metals Executive Chairman and CEO.