Silver Bow Mining plans to acquire a metallurgical complex in Montana for about $28.6 million in cash.

The minerals exploration company said Monday it expects to acquire the complex through a Chapter 11 sale process involving Montana Tunnels Mining, which filed for bankruptcy last month.

The complex includes two mineral processing circuits, crushing and ore storage facilities, tailings facilities and other infrastructure. The company expects one of the circuit will be suitable for processing high-grade silver-gold-zinc-lead mineralization.

The purchase price includes cash payments Silver Bow Mining will make to satisfy creditors associated with the assets, including about $4.3 million to Jefferson County and about $20.8 million to the Montana Department of Environmental Quality, the company said.

In consideration for the funding, Montana Tunnels Mining plans to issue a senior secured note secured against the real property interests, fixtures and personal property at the complex to Silver Bow Mining when the deal closes.