Deal inked Canada’s Dundee Precious Metals has unveiled it has signed a definitive share purchase agreement with an offshoot of Sinomine Resource Group for the sale of the firm’s interest in the Tsumeb smelter in Namibia.
The deal covers “all associated assets and liabilities, through the disposition of all of the issued and outstanding shares it indirectly holds in Dundee Precious Metals Tsumeb Holding (Pty) Ltd. … for consideration of US$49 million in cash,” the Canadian business said in a statement.
“We are pleased to announce the sale of the Tsumeb smelter, which is consistent with our strategic objective of focusing on our gold mining assets and simplifying our portfolio going forward. We are extremely proud of the investments that we have made to transform Tsumeb’s operational and environmental performance into a specialized custom smelter with a highly skilled workforce,” said David Rae, the President and Chief Executive Officer of Dundee Precious Metals.