RIO: Acquires Peruvian Copper Producing Operation

213 Views09 Dec 2025 22:00

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SUMMARY

Rio2 announced that it has entered into a definitive agreement with Southern Peaks Mining L.P. (a private company) to acquire its 99.1% interest in the Condestable underground copper mine, located in Peru.
Condestable is forecasted to produce 27Ktpa CuEq or ~80Koz AuEq, has a reserve mine life of over 10 years, and has expansion potential.
On closing, Southern Peaks will receive an upfront consideration of $180M, including $80M in cash, $65M in vendor debt financing, and ~$35M in common shares of Rio2.

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