Posted in | News | Gold | Copper | Lead | Silver | Zinc | Mining Business

Perilya Says Planned Takeover Won't Affect Broken Hill Operation

Perilya Limited (ASX:PEM) Managing Director Paul Arndt has said that the takeover bid for an overseas mining company would not have a negative impact on operations in Broken Hill.

Perilya is presently in a binding pre-bid agreement to acquire the Toronto based Canadian company GlobeStar Mining Corporation.

The takeover bid will see Perilya become a copper/gold producer in the Dominican Republic thanks to GlobeStar's Mining assets. The deal is estimated at $ 186.1 million in which Perilya will take over 100% of GlobeStar Mining shares. The low-cost Cerro de Maimon copper/gold mine located inland from Santo Domingo on the Dominican Republic coast is the primary asset of the company.

Perilya is primarily a zinc, lead and silver producer at its Broken Hill project. The diversification attempt has the blessings of the 52% shareholder in Perilya, Zhongjin. The third largest zinc producer in China, Zhongjin is the financial muscle behind the cash and debt financing plan for the acquisition. It is also encouraging Perilya to look out for additional base metal and gold acquisition opportunities.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Perilya Limited. (2019, February 18). Perilya Says Planned Takeover Won't Affect Broken Hill Operation. AZoMining. Retrieved on February 28, 2024 from https://www.azomining.com/News.aspx?newsID=494.

  • MLA

    Perilya Limited. "Perilya Says Planned Takeover Won't Affect Broken Hill Operation". AZoMining. 28 February 2024. <https://www.azomining.com/News.aspx?newsID=494>.

  • Chicago

    Perilya Limited. "Perilya Says Planned Takeover Won't Affect Broken Hill Operation". AZoMining. https://www.azomining.com/News.aspx?newsID=494. (accessed February 28, 2024).

  • Harvard

    Perilya Limited. 2019. Perilya Says Planned Takeover Won't Affect Broken Hill Operation. AZoMining, viewed 28 February 2024, https://www.azomining.com/News.aspx?newsID=494.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.