(MENAFN Editorial) Regulated Information - Inside Information 3 July 2017 at 07:00 CET
Nyrstar NV ("Nyrstar") today announces it has successfully completed the sale of its Coricancha mine in Peru to Great Panther Silver Limited, a primary silver mining and exploration company listed on the Toronto Stock Exchange, for a total cash consideration of USD 0.1 million plus earn-out consideration of up to US 10 million (the "Transaction"). Under the earn-out, Nyrstar will be paid 15% of the free cash-flow generated by the Coricancha mine during the 5-year period after which the Coricancha mine is cumulative free cash-flow positive from closing of the Transaction.
As previously announced, the share purchase agreement for the Transaction was entered into on 20 December 2016 and had a number of customary conditions precedent that needed to be satisfied before the Transaction could complete.
About Nyrstar Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals, which are essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,300 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website: www.nyrstar.com.
For further information contact:
Anthony Simms - Head of Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 Franziska Morroni - Head of Corporate Communications T: +41 44 745 8295 M: +41 79 719 2342
The full press release can be downloaded from the following link: