Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) announced that it has made the third payment of US$7.5 million to Glencore as part of its previously disclosed acquisition of Bolivian mining assets.
The payment is the third in a series under the company’s US$40 million Acceleration Option plan, which is set to be completed by October 31.
It follows an initial payment of US$10 million made in March 2025, and a second payment of US$7.5 million completed shortly after.
The structured plan is designed to generate US$40 million in savings and reflects Santacruz’s ongoing focus on meeting its financial obligations related to the Bolivian assets acquisition.
“This third payment to Glencore highlights our ability to meet our obligations while preserving a strong balance sheet and liquidity position,” Santacruz Silver CEO Arturo Préstamo said in a statement.
“With US$15 million remaining under the payment plan, we remain committed to generating long-term shareholder value through prudent capital management and operational excellence.”
Santacruz Silver operates a diversified portfolio of mineral properties across Latin America. In Bolivia, its activities include the Bolivar and Porco complexes, as well as the Caballo Blanco complex, which encompasses the Tres Amigos and Colquechaquita mines.