Canadian gold producer Yamana Gold announced the signing of a definitive option agreement under which it has granted a privately-held portfolio management and capital markets, company based in Argentina owned by Eduardo Elsztain and Saúl Zang, the right to acquire up to a maximum of 40% of participation in a joint venture formed to manage the Suyai Project. This project is an advanced-stage gold project located in the province of Chubut.
The portfolio of companies includes Argentina’s largest real estate company, international agricultural companies listed on the NASDAQ index, along with banking and mining investments. Throughout its history, the group has led the successful development of important construction projects in Argentina.
Under the terms of the option agreement, an initial amount of US$2 million will be paid to secure the option, and the Argentine group will assume responsibility for all environmental, social and government matters (ESG) and, in particular, will lead permitting efforts to advance the project through its different stages of development. The Argentine group has the right to access a maximum interest of 40% in the resulting joint venture to manage the Suyai Project through the fulfillment of certain obligations and achieving certain milestones, in addition to paying US$31.6 million in various installments plus all of the proportional expenses as of December 31, 2024, or before.
