Discovery Silver to acquire Kidd Creek mining operations of Glencore for $85m.

Discovery Silver, a North American precious metals company, agreed to acquire the Kidd Creek mining operations of Glencore, a Swiss multinational commodity trading and mining company, for $85m. “Acquiring the Kidd Operations provides an opportunity to substantially increase our processing and tailings capacity and supports a growth trajectory that could more than double gold production in Timmins to over half a million ounces per year. In addition, the acquisition also provides important synergies that will augment our current operations and delivers a large land package with tremendous exploration upside potential for copper, zinc and silver, the metals produced at Kidd Creek, as well as for other critical minerals and gold. Very importantly, the Kidd Operations include valuable, well-maintained infrastructure, and come with a large, highly-skilled labour force with expertise and experience in all key disciplines of our business, which we plan to leverage to support our future success in the Timmins Camp,” Tony Makuch, Discovery President and CEO.