Asia-Pacific Strategic Investments acquires mine

Singapore

ASIA-PACIFIC Strategic Investments has entered into a nonbinding memorandum of understanding (MOU) to acquire an additional gold mine as part of its proposed acquisition of Coeur Gold Armenia (CGA) for S$500 million.

The vendor, GR Business Holdings, is acquiring at least 51 per cent equity interest in Siberian Mining and Metallugical Alliance (SiGMA), which holds a licence to explore, develop and mine the gold in Ozernovskoye Gold Ore Mine located at Karaginsky district of Kamchatka Krai, the Russian Federation until July 1, 2030. The mine is estimated to have gold resources of at least 30 tonnes.