Galantas signs agreement to acquire Chile’s Andacollo gold project

Galantas Gold has signed an statement to get a 100% ownership involvement successful the Andacollo Oro golden task successful Chile.

Located successful the Coquimbo Region, the task is an open-pit heap leach golden excavation with existing infrastructure and permits.

It is situated astir 55km from La Serena and includes important onshore rights and infrastructure.

Historical mineral assets estimates for the task bespeak measured and indicated resources totalling 2.02 cardinal ounces (moz) of gold, consisting of 130 cardinal tonnes (mt) grading 0.48 grams per tonne (g/t) gold.

Inferred mineral resources are estimated astatine 5.06moz of gold, comprising 358mt grading 0.45g/t gold.

Galantas Gold CEO Mario Stifano said: “The acquisition of the Andacollo Oro golden task fundamentally repositions the company, adding a large-scale, past-producing golden plus with existing infrastructure, permits and a heavy method database successful 1 of Chile’s astir established mining districts.

“With an Adsorption–Desorption–Recovery works astatine 200,000oz per annum nameplate capacity, the task provides Galantas with aggregate improvement pathways and a level of optionality that is seldom disposable successful a azygous transaction, portion the staged information operation reflects our committedness to superior subject and hazard management.”

The transaction involves Galantas acquiring Sol de Oro Mining, which owns Compañía Minera OXI, and subsequently Compañía Minera e Inmobiliaria Dragones, the task owner.

The currency information totals $32m (C$44.17m) implicit 4 years, conditional upon regulatory approvals.

Galantas enforcement serviceman Robert Sedgemore owns Sol and is considered a related enactment nether applicable regulations.

The task is adjacent to Teck Resources’ copper-producing Carmen del Andacollo Mine.

Compliance with regulatory requirements and shareholder approvals are pending for transaction completion.

In June 2025, Galantas signed a associated task statement with Ocean Partners UK to restart operations astatine the Omagh golden task successful Northern Ireland.

"Galantas signs statement to get Chile’s Andacollo golden project" was primitively created and published by Mining Technology, a GlobalData owned brand.

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