Chinese state-owned group Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC) has enlisted Philippi Prietocarrizosa Ferrero DU & Uría (Peru) to acquire a controlling stake in local mining group Raura from Peruvian conglomerate Breca Banca for US$106 million.
The transaction was signed on 19 December.
Through the acquisition, NFC will take control of Raura’s polymetallic mining assets located between the central Peruvian regions of Lima and Huánuco by acquiring 99.99% of Breca Banca’s common shares and 98.29% of its investment shares.
The transaction marks a milestone in the Chinese state-owned company’s expansion in Latin America, obtaining the asset after and beating out other companies that bid for the asset throughout 2025 – including Peruvian miner Alpayana and global commodities trader Trafigura.
The sale adds to a rise in M&A activity involving Asian investors in Peru’s mining sector. In December, Rebaza, Alcázar & De Las Casas helped commodities giant Glencore acquire Peruvian miner Quechua from Japan’s Pan Pacific Copper, with Philippi Prietocarrizosa Ferrero DU & Uría (Peru) advising the seller and Estudio Olaechea in Lima advising Japanese group Mitsui Mining & Smelting – another selling entity. Meanwhile, a year prior, China’s CNMC enlisted Demarest Advogados in São Paulo and Philippi Prietocarrizosa Ferrero DU & Uría (Peru) for its US$340 million acquisition of Brazilian miner Mineração Taboca from Peru’s Minsur, which was also advised by Rodrigo, alongside US firm Sullivan & Cromwell LLP, Brazil’s Pinheiro Neto Advogados and Cuatrecasas (Peru).
Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC)
Philippi Prietocarrizosa Ferrero DU & Uría (Peru)
Partner Rafael Lengua and associates Sergio Cueva, Mitzy Longa and Steven Hu in Lima
