Nyrstar NV ("Nyrstar") today announces that it has successfully completed the sale of its Campo Morado mine in Mexico to Telson Resources Inc. and Reynas Minas S.A. de C.V. for a total cash consideration of USD 20 million (the "Consideration"), plus the potential for additional future proceeds through a variable purchase price agreement linked to production at the Campo Morado mine (the "Transaction")..
As previously announced, the share purchase agreement for the Transaction was entered into on 27 April 2017 and had a number of customary conditions precedent that needed to be satisfied before the Transaction could complete.
The Consideration payable to Nyrstar consists of USD 0.8 million that was paid to Nyrstar upon signing the Agreement in April 2017, USD 2 million that was paid to Nyrstar on closing of the Transaction, USD 0.7 million to be paid within June 2017 , and USD 16.5 million payable in cash that will be paid to Nyrstar on or before the 12 month anniversary of the closing.
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 – Group Manager Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 [email protected]
Franziska Morroni – Group Manager Corporate Communications T: +41 44 745 8295 M: +41 79 719 2342 [email protected]
Original Article: http://www.nyrstar.com/investors/en/news/Pages/2113076.aspx