Bear Creek Mining has sold its Tassa mining project in Moquegua, Peru, to Colque Holding Pty Ltd for USD 3.5 million, aligning with its strategy to focus on key assets while ensuring future revenue through royalties.

Target Information

Bear Creek Mining, a Canadian mining company, has successfully sold 100% of its Tassa mining project located in the Moquegua region of southern Peru to an Australian group, Colque Holding Pty Ltd. The total consideration for the transaction is valued at USD 3.5 million. This strategic sale reflects Bear Creek's initiative to monetize non-essential assets while concentrating its resources on priority projects within Peru.

The Tassa project is situated in the General Sánchez Cerro province, specifically in the Ubinas district, an area known for its mining activities. This sale offers Bear Creek not only immediate financial benefits but also a structured financial framework that ensures the company's future income through a sliding payment schedule over 30 months.

Industry Overview in Peru

The mining sector in Peru plays a critical role in the country’s economy, accounting for a significant portion of its exports and foreign investment. In recent years,