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Chile     Mining

Bofill Mir advises Lundin Mining on its increase to 70% in the share capital of Caserones  

July 3, 2024

Bofill Mir Abogados has represented Lundin Mining Corporation in the exercise of the option right to increase its stake to 70% in Caserones, through the purchase of an additional 19% of SCM Minera Lumina Copper Chile ("Company"), owner of the copper and molybdenum mine Caserones, located in Chile, for a value of US$ 350 million, which was paid to the seller JX Advanced Metals Corporation ("JX") as the purchase price for the sale and purchase of the Company’s shares.

The firm represented Lundin Mining Corporation in connection with all local aspects of the exercise and closing of the option to purchase a 19% interest in the Company.

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.

The operation produces copper and molybdenum concentrates from a traditional open pit mine and a conventional sulphide flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant.

Bofill Mir has been advising The Lundin Group of Companies for more than a decade, and recent assignments include the development of its Filo del Sol mining project - a copper-gold-silver deposit located on the border between Chile and Argentina; and the development of Josemaría, a large-scale copper-gold-silver project located in Argentina, both with a combined total value of around US$8-9 billion.

Bofill Mir Abogados also advised Lundin Mining Company on the acquisition of 51% of Caserones in 2023 and on the acquisition of a majority stake in the Candelaria copper mine in Chile for US$1.8bn (2014).


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