Hochschild Mining Buys Control in Peru's Inmaculada Gold, Silver Project

Hochschild Mining Plc said it reached an agreement with partner International Minerals Corp. to increase its stake in Inmaculada, a 20,000-hectare gold and silver project in southern Peru.

The acquisition will increase its holding in Inmaculada to a controlling 60 percent interest, for an initial cash consideration of $15 million and an agreement to fund 100 percent of the project’s first $100 million of capital expenditure.

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To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net

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