Volcan Exploring Alternatives with Advisors

LIMA, Peru, Feb. 08, 2024 (GLOBE NEWSWIRE) -- As reported in the press, Volcan Compañía Minera S.A.A., a publicly held corporation (sociedad anónima abierta) organized under the laws of the Republic of Peru with its principal executive office at Av. Manuel Olguin 373, Santiago de Surco, Lima, Republic of Peru (“Volcan”), is exploring alternatives with respect to the US$365 million 4.375% Senior Notes due 2026 and the US$400 million syndicated term loan.

To that end, Volcan has retained BofA Securities, Inc., Moelis & Company LLC, and Shearman & Sterling LLP as advisors to help with the process and constructively engage with its lenders and bondholders. Volcan expects to continue its operations in the ordinary course of its business while pursuing these alternatives.   

Volcan is also in discussions with third parties regarding the sale of a number of its non-core assets which may or may not be completed prior to the implementation of any such alternative.

About Volcan

Volcan is a polymetallic mining company incorporated under the laws of Peru and is a significant producer of zinc, lead and silver. Volcan began operations in 1943 at the heights of the Ticlio Pass. Volcan’s operations and assets are located in the central mountains of the Peruvian Andes and include the operating units, Yauli, Chungar, Alpamarca and Cerro de Pasco. Today, Volcan is one of the largest producers of zinc, lead and silver in the world and is considered one of the lowest cost producers in the industry due to the quality of its ore deposits.

Forward Looking Statements

This press release may contain forward-looking statements that are not based on historical facts and are not assurances of future results. You should not place reliance on any forward-looking statement contained in this press release. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Volcan undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.  


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