Guerrero Olivos advised Compañía Minera del Pacífico S.A.

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.

Press publications

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.

Firms involved: 

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.

Lawfirm lawyers acting in transaction: 

Guerrero Olivos

Partners: Roberto Guerrero V. and Pedro Lyon.

Senior Associate: Benjamín Pérez.

Associate: Macarena Montt.

Correa Gubbins

Senior Associate: Karol Oyaneder.

Associate: Álvaro Barros.

Jackson McDonald

Partner: Will Moncrieff.

In-house lawyers: 

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.

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