Hochschild Mining Plc Acquires the Biolantanidos Ionic Clay Rare Earth Deposit in Chile Call Transcript
Hello, ladies and gentlemen, and welcome to today's call on Hochschild acquiring rare earth deposit in Chile. (Operator Instructions) Just to remind you, this is being recorded.
So today, I'm pleased to present Ignacio Bustamante, CEO; Ramón Barúa, CFO; and Charlie Gordon, Head of IR. Gentlemen, please begin.
Thank you very much, Hugh. Hello and welcome to the call here in Lima. We have myself, Ignacio Bustamante, CEO; and Ramón Barúa, CFO; and in the U.K. is Charlie Gordon, our Head of Investor Relations.
As you have read this morning, we have today announced the acquisition of 93.8% of the BioLantanidos ionic clay rare earth deposit in Chile for $56 million. The remaining 6.2% stake was secured last year in exchange for a $2.5 million investment in the project. As you know, Hochschild's long-term strategy is based around precious metals, and that remains the case going forward. We are focused on developing our portfolio through our brownfield and greenfield programs and
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