RAD acts on sale of Glencore’s stake in Volcan Compañía Minera
Rebaza Alcázar & De Las Casas acted as advisor to Glencore on the sale of its controlling interest in Volcan Compañía Minera to Transition Metals, an affiliate of Integra Capital.
The transaction closed on 8 May, where the agreed purchase price for Glencore’s interest in Volcan was USD $20 million and Glencore agreed to provide a secured credit facility of up to USD $40 million to fund certain mandatory public offering obligations of Transition Metals under Peruvian laws and regulations.
Volcan is one of the world’s largest producers of zinc, lead and silver. Volcan began operations in 1943 on the heights of the Ticlio Pass.
Glencore is one of the world’s largest diversified natural resource companies and a leading producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, Glencore produces, processes, recycles, sources, markets and distributes the raw materials that support decarbonisation while meeting today’s energy needs.
Integra Capital is an Argentinean company that invests in numerous commodity industries. In the polymetallic mining sector, Integra Capital owns the Aguilar mine in Argentina, a zinc, silver and lead mine that has been in operation for more than 80 years. In addition to the Aguilar mine, Integra Capital owns PRC SAU, Argentina’s largest potash project, as well as more than 400,000 hectares of lithium concessions.
RAD’s team was led by partners Alberto Rebaza (pictured left), Luis Miguel Elias (pictured centre) and Camilo Maruy (pictured right), with support from senior associates Josefina Arana, Pedro Diaz and Llanet Gaslac and Derek Ortmann.
