Guerrero Olivos advised Compañía Minera del Pacífico S.A. ("CMP") in its investment and finance in connection with the "Productora" cooper project (“the Project”).
"Productora" project is a mining project that lies in the center of CMP’s Huasco and Vallenar iron operations at low altitude, approximately 600 km north of Santiago, Chile. Its mineral resource base contains over 1 million tons of copper and 675,000 ounces of gold.
Before the investment, the Project was solely owned by Sociedad Minera El Águila SpA ("SMEA"), a subsidiary of Hot Chili Limited (an Australian ASX listed company). Through the investment CMP acquired 17,5% of the Project, has an option to acquire an additional 32.6% interest (taking CMP to 50.1%) and provide finance to the Project.
We advised CMP in every step of the project negotiating, due diligence, investment and finance.
- Diario Pulso: http://www.updatecomunica.cl/imprimir.php?n=78706
- El Mercurio: http://www.updatecomunica.cl/imprimir.php?n=78688
- Revista Minería Chilena: http://www.mch.cl/2015/06/12/cap-logra-acuerdo-con-australiana-para-proyecto-de-us700-millones/#
- Mining press: http://www.miningpress.com.ar/nota/284547/cap---hot-chili-el-acuerdo-para-co-explotacion-de-proyectos-los-planes-
- CAP: http://www.capmineria.cl/cap-mineria-se-integra-a-proyecto-productora/
This was a complex transaction which involved the constitution of mining easements, incorporation of a subsidiary of CMP, its merger with SMEA, the execution of an Option Agreement to grant the right to CMP to acquire an additional 32.6% of SMEA (in order to allow CMP to increase its participation to up to 50.1%), the execution of a Facility Agreement in order to provide financing to the development of the Project and the execution of a Shareholders and Master Agreement that regulate the rights and obligations of the parties.
Guerrero Olivos: Chilean counsel to CMP.
Correa Gubbins: Chilean counsel to Hot Chili Limited and its subsidiaries.
Jackson McDonald: Australian counsel to Hot Chili Limited.
Partners: Roberto Guerrero V. and Pedro Lyon.
Senior Associate: Benjamín Pérez.
Associate: Macarena Montt.
Senior Associate: Karol Oyaneder.
Associate: Álvaro Barros.
Partner: Will Moncrieff.
Stefan Franken counsel of CAP S.A.
John Patrick McNab counsel of Compañía Minera del Pacífico S.A
José Ignacio Silva counsel of Sociedad Minera El Águila SpA.