Seeking Alpha

Buenaventura to buy Gold Fields' 51% stake in Peru project

  • Buenaventura (NYSE:BVN) is taking full control of the Chucapaca gold deposit in Peru by buying a 51% stake in the project from partner Gold Fields (NYSE:GFI), raising its stake from 49%.
  • BVN, which is paying $81M plus royalties, says it will develop the deposit as an underground mine instead of as an open-pit project the two companies once deemed too costly.
  • Chucapaca has been estimated to produce 500K oz. of gold per year once up and running.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector