Precious metals producer Hochschild Mining PLC announced Wednesday its decision to acquire full ownership of a Brazilian gold project from Cerrado Gold Inc. for $60 million. Linklaters, Stikeman Elliott, and Bichara Advogados are advising on the transaction.
Hochschild Secures Control of Monte Do Carmo Project in Brazil :
London-listed Hochschild Mining PLC, through its Brazilian subsidiary, Amarillo Mineração do Brasil Ltd., has exercised a contractual put option from a March agreement to acquire the Monte Do Carmo open-pit gold project from Toronto-listed Cerrado Gold Inc. The acquisition will involve a total investment of $60 million, reinforcing Hochschild’s commitment to expanding its South American portfolio.
Legal counsel on the transaction includes Linklaters LLP, representing Hochschild, with Stikeman Elliott LLP overseeing Canadian aspects of the deal, and Brazilian firm Bichara Advogados managing local legalities.
CEO Lauds Monte Do Carmo’s Strategic Importance:
Hochschild’s CEO, Eduardo Landin, celebrated the addition of the Monte Do Carmo project to the company’s portfolio, which includes the successful Mara Rosa gold mine in Goiás state, acquired in 2022.
