Argentina's Central Puerto Sells AbraSilver Stake for $163 Million

en.Wedoany.com Reported - On September 18, Argentine energy company Central Puerto sold all of its shares in AbraSilver Resource for approximately $163 million. Since 2024, Central Puerto had invested in AbraSilver twice through its subsidiary Proener, with a cumulative investment of approximately $25 million. This exit corresponds to a book gain of approximately $138 million, before deducting taxes, transaction costs, and other accounting effects.

Central Puerto first entered AbraSilver in April 2024, when it subscribed for shares through Proener for CAD 10 million, acquiring approximately a 4% stake. In January 2025, the company invested an additional CAD 25.74 million, increasing its shareholding to 9.9% and becoming one of AbraSilver's major shareholders. Central Puerto's annual report confirmed that both investments were centered on AbraSilver's Diablillos silver-gold project in Argentina.

AbraSilver holds a 100% interest in the Diablillos silver-gold project. The project is located in the border area between Salta Province and Catamarca Province in Argentina. When Central Puerto increased its stake, AbraSilver was advancing the project's feasibility study and subsequent construction preparations. After completing a new round of financing in 2025, the relevant funds were mainly used to advance the Diablillos feasibility study and project development.

What Central Puerto sold this time was its equity investment in AbraSilver, and did not involve a direct transfer of the Diablillos mining rights. The company had previously entered the project as a financial investment and did not assume mine operating responsibilities. The original report showed that after selling its shares, Central Puerto is still evaluating new investment opportunities in copper, gold, silver, and potash resources in Mendoza Province, San Juan Province, and other locations.

In addition to AbraSilver, Central Puerto had previously acquired approximately a 27.5% interest in 3C Lithium, which holds the Tres Cruces lithium project in Catamarca Province; the company is also cooperating with IFC to advance a transmission line of approximately 140 kilometers with a potential transmission capacity of up to 400 MW, providing renewable energy access for mining projects in northwestern Argentina. Central Puerto currently still lists mining as one of its investment directions beyond its core energy business.

After selling its AbraSilver stake, Central Puerto's board of directors approved a special dividend of approximately $161.3 million. The scale of this dividend is close to the funds recovered from the equity sale.