Endeavour Silver expands into Peru with $145m Minera Kolpa deal
Precious metals miner Endeavour Silver has agreed to acquire Minera Kolpa in a $145-million cash-and-stock deal as the Canadian miner expands its footprint in Peru, one of the world's top silver-producing nations.
The Vancouver-based company will pay $80-million in cash and $65-million in Endeavour shares to acquire Kolpa, a silver-focused polymetallic mining company. The deal also includes up to $10-million in contingent cash payments and the assumption of about $20-million in net debt, Endeavour said in a statement Tuesday.
The acquisition gives Endeavour its first producing mine in Peru and is expected to boost the company’s production by about five-million silver-equivalent ounces a year. Kolpa’s Huachocolpa Uno mine, located in the Huancavelica region, produced about two-million ounces of silver in 2024, along with lead, zinc, and copper.
The Kolpa mine has been expanded over time to its current installed capacity of 1 800 t/d. Endeavour is pursuing permits to increase that to 2 500 t/d.
“Today marks a significant milestone in Endeavour's journey to becoming a senior silver producer,” CEO Dan Dickson said in the statement. “The acquisition of the Kolpa mine represents a material increase to our silver-equivalent-ounce production and is a testament to our team’s dedication and vision.”
The deal aligns with Endeavour’s goal of becoming a senior silver producer by adding a third producing asset. The underground mine fits well with the company’s existing technical expertise, and the land package is largely underexplored, providing further upside potential.
Kolpa’s location in a prolific silver mining district could also pave the way for additional acquisitions, Endeavour said.
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