https://www.engineeringnews.co.za

Equinox sells Brazil mine

20th April 2021

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Bullion miner Equinox Gold has sold its Pilar gold mine to a new Brazil-focused Canadian company as part of a portfolio optimisation process to focus on larger assets, CEO Christian Milau announced on Monday.

Equinox will sell the mine to Pilar Gold, which plans to seek a public listing later this year, for $38-million in cash, a 9.9% equity interest in the buyer and a 1% net smelter returns royalty on production from the mine.

“With existing production and growth potential, the Pilar gold mine is an excellent foundation mine for an emerging gold company. We look forward to participating in the success of Pilar Gold as a supportive shareholder as they launch a new Brazil-focused gold producer,” said Milau.

Equinox would update its production guidance next month, to reflect the loss of 35 000 oz/y from the Pilar sale and the addition of the producing Mercedes mine, in Mexico, to its portfolio following the completion of Premier Gold Mines.

The company recently announced that it had acquired an additional 10% in the Greenstone project, in Canada, for $51-million. It acquired its initial 50% shareholding in the project through the acquisition of Premier.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.069 0.972s - 140pq - 2rq
Subscribe Now