Minco completes Mexican tie-up

PRECIOUS metals explorer Minco said it had completed the acquisition of a 50% equity interest in Minera Sisa, a company that owns and has previously operated high-grade gold and silver mining properties in Mexico.

The deal required Minco to hand over $2.4 million (€1.8m) and commit to further investment of $2m to develop the sites.

Chief executive Matthew Dorman said: “Completion of the Sisa acquisition is a major step forward in our objective to become a significant precious metals producer. The ongoing exploration programme at Minera Sisa continues to uncover additional mineralisation and we are identifying key targets to be drilled in May.”