Jinteng to acquire La Arena from Pan American Silver for $245m.

Jinteng, a multi-national mining company, agreed to acquire La Arena, a gold mine, from Pan American Silver, a mining company based in Canada with operations in Latin America, for $245m. “With the sale of La Arena, we continue to deliver on our strategy to optimize our portfolio, following the Yamana transaction, while maintaining future upside through the retention of royalties. Proceeds from the transaction will further strengthen our financial position and allow us to deliver on our capital allocation priorities of investing in high-quality assets, debt reduction and returning capital to our shareholders,” Michael Steinmann, Pan American President and Chief Executive Officer.