On March 5, 2025, the Canadian streaming and royalty company, Triple Flag Precious Metals Corp. (“Triple Flag”), announced the US$35 million acquisition of 5% silver and gold streams from the Arcata and Azuca mines in Peru, operated by Sierra Sun Group.
Rebaza, Alcazar & De las Casas in Lima, Peru, and Torys LLP in Toronto, Canada, advised Triple Flag in the transaction.
The Arcata mine located in Arequipa in southern Peru, is a silver producing mining unit formerly owned by Hochschild group, which was placed on temporary care and maintenance back in 2019. Sierra Sun Group, the current operator of the mine, plans to promptly reinitiate mining production activities and pursue the expansion of its facilities. On the other hand, Azuca is a gold exploration project located in Abancay, also in southern Peru.
Triple Flag is a leader in the streaming and royalty sector and continues to expand its portfolio of high-quality mining assets in the region.
Sierra Sun is a privately owned group that also operates the Antapite and Sumaq Rumi mines, which were not part of this deal. This transaction represents a key milestone in the expansion of Sierra Sun’s mining business in Peru.