Mayer Brown, Torys, Philippi Prietocarrizosa Ferrero DU & Uría and Bofill Mir & Alvarez Jana have advised Japan’s Sumitomo on its acquisition of a 30 percent stake in the Quebrada Blanca copper mine expansion in northern Chile from Canadian mining company Teck Resources.
The seller was advised by Canadian law firm Fasken and Chile’s Carey.
According to Reuters, Sumitomo will pay an $800 million earn-in contribution and a $400 million matching for the stake. On completion of the deal, Teck will own 60 percent of the Quebrada Blanca project and Chilean state agency ENAMI will hold the remaining 10 percent.
The Mayer Brown team was led by head of the Africa and mining practices Ian Coles, corporate & securities partners Rob Hamill, Satoru Murase, Connor Cahalane, Rebecca Bothamley and Thomas Moore, banking & finance partner Rachel Speight and construction & engineering partner Jonathan Hosie.
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