The expansion will enable the mine to exploit lower grades.

The deal creates an Americas-focused gold miner with a market capitalization of about $1.75 billion.

Rio2 is a follow-up business to the previously Rio Alto Mining, which began business in 2008 and was acquired by Tahoe.

Former competitors expect to complete the combination June 30, 2020.

The buyout is aimed at supporting exploration efforts at the Abriaqui gold project in Colombia.

The estimates reveal that current open-pit mineral reserves can continue to be mined until late 2021.

The discovery comes a week after the company reported a rock chip sample grading 10.4% copper and 88 g/t silver.

Early studies indicate about 90% of contained lithium can be recovered using the filter system, compared to about 30% when producers use the existing process of pumping brines.