Pablo Mir and Alina Bendersky

BM represents SCM in sale of Siete Salares mining project

Bofill Mir has represented Salares de Atacama Sociedad Contractual Minera (SCM), equally controlled by the Vecchiola family and Talison Lithium, in the sale to the French group Eramet, of the lithium mining project, “Siete Salares”.

The process was conducted through a private bidding process carried out by Asset Chile for the sale of more than 400 mining concessions located in 7 salt deposits in Chile.

Eramet paid US$ 95 million for the mining properties that were part of Siete Salares. In addition, it agreed to an additional payment of a further US$10 million associated with the success of the project, subject to obtaining various permits.

Asset Chile advised the sellers on the execution of the private tender, and Philippi Prietocarrizosa Ferrero DU & Uría advised Eramet locally.

Siete Salares comprises mining concessions covering an area of approximately 40 thousand hectares including the salt flats: 1. La Isla (16,500 ha); 2. Agua Amarga (3,100 ha); 3. Parinas (5,400 ha); 4.  Both La Isla and Aguilar have high grade and thus provide key conditions for economically extractable lithium.

The consultancy involved technical support, project history, legal opinion on lithium regulation and corporate support in terms of the vendor’s shareholding companies, among others.

BM’s team consisted of partners Pablo Mir (pictured left) and Alina Bendersky (pictured right), senior associate Alonso Calderón and junior associate Juan Manuel Bengoa.

L Giselle Estrada