Carey counsels Minera del Norte on Chile copper mine acquisition
Carey has advised Minera del Norte on its acquisition of the Tuina mining project and Santa Margarita copper processing plant, along with the corresponding mineral extraction rights.
The assets were purchased from Minera Cerro Dominador and the deal is valued at $13 million, lifting the company out of its current bankruptcy status. As part of the company’s 2016 bankruptcy agreement, the assets had been granted a first purchase option in favour of the approved creditors.
Minero Cerro Dominador is one of several mining companies in Chile that have been heavily impacted by the fall in the price of the metal.
The Tuina project (pictured) covers around 100 square miles of mining and exploration concessions, with potential copper oxide and sulphide mineralisation, and is located in the country’s northern Antofagasta region.
Carey’s lawyers that acted as counsel to Minera del Norte are partners Francisco Ugarte and Ricardo Reveco, counsel Alejandra Risso, and associates Alejandra Daroch, Angélica De la Carrera, Isaac Stevens, Constanza Rivera, and Pamela Morales.
