PERTH (miningweekly.com) – ASX-listed Consolidated Zinc has moved to take full ownership of its Plomosas zinc/lead/silver project, in Mexico, inking a binding term sheet with project partner Retec Guaru S.A de C.V.
Under the terms of the agreement, Consolidated Zinc would acquire the remaining 10% interest in the project in return for a 1% net smelter royalty from zinc and lead concentrates produced at the mine.
“The acquisition of a 100% interest in Plomosas completes the simplification of the ownership structure from the company’s original 51% shareholding less than nine months ago, with the acquisition of the additional 49% interest acquired at attractive considerations to add shareholder value,” said Consolidated Zinc MD Brad Marwood.
Plomosas produced 2 351 t of zinc and 1 061 t of lead in the June quarter.