Rebaza, Alcázar & De Las Casas has helped commodities giant Glencore acquire Peruvian miner Compañía Minera Quechua from Japan’s Pan Pacific Copper, a subsidiary of JX Advanced Metals.
Philippi Prietocarrizosa Ferrero DU & Uría (Peru) advised Pan Pacific Copper on the deal, while Estudio Olaechea assisted Mitsui Mining & Smelting, the owner of the mining assets transferred as part of the transaction.
The transaction closed on 11 December for a confidential amount.
The target company owns the Quechua copper project in the Peruvian department of Cusco. The acquisition consolidates Glencore’s presence in the area, where it already operates the Antapaccay copper mine, strengthening its position in one of the country’s most important mining regions.
Glencore regularly invests and divests in Latin America. In September, it completed the sale of mining assets in Bolivia to Canada’s Santacruz Silver Mining for US$40 million. Dentons Guevara & Gutiérrez advised the buyer on that occasion.
Counsel to Pan Pacific Copper
Philippi Prietocarrizosa Ferrero DU & Uría (Peru)
Partner Rafael Lengua and associates Sergio Cueva, Mitzy Longa and Steven Hu
