Bofill Mir represents Lundin Mining in acquisition in SCM Minera Lumina Copper
Bofill Mir Abogados has represented Lundin Mining Corporation in a binding purchase agreement with JX Nippon Mining & Metals Corporation and certain of its subsidiaries to acquire 51% of SCM Minera Lumina Copper Chile, a wholly owned subsidiary of JX that operates the Caserones copper-molybdenum mine in Chile, for a total consideration of approximately US$950 million.
JX will receive US$850 million in cash from Lundin Mining and, in addition, will be paid US$150 million in deferred instalments over a period of six years after the closing date of the transaction. In addition, Lundin Mining will have the right to acquire up to an additional 19% interest in Caserones for US$350 million over a period of five years from the first anniversary of the closing date. The transaction is expected to close in the third or fourth quarter of 2023, subject to regulatory approvals and other general conditions.
This transaction involved the jurisdictions of Canada, Chile and the United States (New York), where Lundin Mining was advised financially by Scotiabank, and legally in Canada and the United States by Cassels Brock & Blackwell and Paul Weiss Rifkind Wharton & Garrison, respectively. The sellers were advised by Skadden Arps Slate Meagher & Flom in the US and Barros & Errazuriz in Chile.
Lundin Mining is a diversified Canadian metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States, producing mainly copper, zinc, gold and nickel.
Caserones is a major porphyry copper and molybdenum deposit in the Atacama Region in the Andes Mountains of northern Chile, located between the Maricunga and El Indio belts, and forms part of the emerging Vicuña copper district.
Barros & Errazuriz’ tema included lawyers Pablo Guerrero Valenzuela, Vicente Cordero Becker, Carola Trucco Horwitz, Felipe Allende Destuet, María Fernanda Espinosa Meza, Martín Vial Correa, Juan Sebastián Alonso Iñíguez, Francisca Rojas Moreno, Daniela Tumani Crestuzzo, Vicente Antúnez Vergara, María Luisa Marraccini Sierra, Cristóbal Gil Lizana and Rodrigo Jeria Navarro.
Bofill Mir’s team consisted of partners Pablo Mir (pictured), Alina Bendersky, Francisco Ducci, Feliciano Tomarelli, Jorge Valenzuela, Luis Alberto Cruchaga and Tomás Pérez, director Cristián Franetovic, and associates Alonso Calderón, Francisco Miranda, Juan Manuel Bengoa, Nur Khamis, Sebastián Fernández, Benjamín Guerrero, Ignacio Avendaño, Juan Pablo Guzmán, Javiera Cid, Cristian Silva, Rafael Sandoval, Tamara Maldonado and Jorge Rodillo.
