Hochschild Mining invests US$2mm in BioLantanidos
Hochschild Mining invested US$2mm in BioLantanidos through its Chilean subsidiary Minera Hochschild Chile SCM becoming the first equity holder with political rights besides Mineria Activa.
The use of funds is to support BioLantanidos through 2019 while going through the Environmental Impact Study and finishing the Definitive Feasibility Study.
Ignacio Del Río, Board Director of BioLantanidos, commented “We are pleased with the entry of Hochschild Mining, they bring extensive project development and mining experience becoming a valuable partner for BioLantanidos, plus financial capabilities that may support future capital needs to take the project into production.”
About Hochschild Mining
Leading underground precious metals producer focusing on high grade silver and gold deposits, with over 50 years’ operating experience in the Americas.
Currently operates four underground mines, three located in southern Peru and one in southern Argentina. In 2017 Hochschild Mining produced 19.1 million attributable ounces of silver and 255 thousand attributable ounces of gold.
Hochschild Mining plc is listed on the Main Market of the London Stock Exchange and is headquartered in Lima, Peru. In addition, the Group has offices in Chile and Argentina, and a corporate office in London.
BioLantanidos is a private company controlled by private equity firm Mineria Activa.
BioLantanidos has a high grade REE ion clay deposit which is rich in rare earths used to build permanent magnets, which are under increasing demand for the electric vehicles and clean energy industries. BioLantanidos is set to become a sustainable, traceable and geopolitical independent source of REE produced at the lowest cost.
For additional information, please contact:
Ignacio Del Rio
CEO – Mineria Activa
Board Director – BioLantanidos
(+56 2) 2964 2000
Project Director – BioLantanidos
(+56 41) 276 5263