Korea Zinc Buys Peru Mine

South Korean zinc smelter Korea Zinc has agreed to acquire Peru’s Pachapaqui mine for $47.5m equivalent cash in won through subsidiaries KZMH in Singapore and PPMMC in Canada. The mine contains 13.5m tons of zinc, silver and copper, and has a daily production capacity of 675 tons, according to Korea Zinc. It is located about 250km north of Lima. The zinc producer will own 100% of the Pachapaqui mine, whose operations had been suspended because of financial difficulty. The seller is ICM Pachapaqui SAC, which is privately owned.