Alpayana failed to acquire Sierra Metals for $180m.

Alpayana, a mining group committed to promoting sustainable mining, failed to acquire Sierra Metals, a Canadian mining company focused on copper production with additional base and precious metals, for $180m. “We are very encouraged by the strong support expressed by our shareholders. They have been very clear in their view that the proposed bid price of $0.85 significantly undervalues the Company. We are confident that our shareholders recognize both the substantial progress we have made over the past two years and the tremendous potential to further enhance the value of our core assets based on initiatives already underway,” Ernesto Balarezo, Sierra Metals CEO.