Minera Frisco, S.A.B. de C.V will acquire the Ocampo mine and the adjacent exploration projects (Venus and Los Jarros), all located in Chihuahua State, Mexico, and a 50% interest in the Orion advanced development project located in Nayarit State, Mexico, from AuRico Gold, for a total cash consideration of $750 million. Minera Frisco is a leading Mexican mining company that was spun out of Grupo Carso S.A. de C.V. in November 2010 and is listed on the Mexican Stock Exchange with a current market capitalization of approximately $10.7 billion. The transaction is expected to close in December 2012.
- Written by E&MJ News