Hydroelectric assets sold for $46mn

Canadian mining company Dia Bras Exploration Inc. has completed the sale of its hydroelectric assets to Volcan Compania Minera S.A.A. and its Peruvian subsidiary, Sociedad Minera Corona S.A., for $46.78 million.

Dia Bras will receive $24.51 million net of third party payments as a result of the sale of the hydroelectric assets, which gives the company an 81.7 percent equity stake in Corona.

Dia Bras and Corona signed a memorandum of understanding on Feb. 21, 2012 and completed the sale on March 1. Dia Bras Peru S.A.C. acquired Minera Corona S.A. in May 2011.

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