Hochschild’s Acquisition of Biolantánidos Project


Philippi Prietocarrizosa Ferrero DU & Uría advised on the deal

Hochschild Mining (LON: HOCH) executed the acquisition from Fondo de Inversión Privado Lantánidos of Biolantánidos: a rare earths deposit in Chile for $56 million in cash.

The market for rare earths, used in electric vehicles (EVs), battery storage and wind turbines continues to grow.

The Peru-based miner had invested $2.5 million in the BioLantanidos project during 2018 and early 2019 in exchange for a 6.2% stake with an option to increase ownership. The move gives Hochschild full ownership of the asset, which the company says contains “high concentrations” of the coveted elements.

Philippi Prietocarrizosa Ferrero DU & Uría advised Fondo de Inversión Privado Lantánidos with a team including Juan Paulo Bambach (Picture), Carlos Alberto Reyes, Cristina Olavarría, Jaime Cruzat and Felipe Ossa.

Involved fees earner: Juan Paulo Bambach Salvatore – Philippi Prietocarrizosa Ferrero DU & Uría; Jaime Cruzat – Philippi Prietocarrizosa Ferrero DU & Uría; Cristina Olavarría – Philippi Prietocarrizosa Ferrero DU & Uría; Felipe Ossa Parot – Philippi Prietocarrizosa Ferrero DU & Uría; Carlos Alberto Reyes – Philippi Prietocarrizosa Ferrero DU & Uría;

Law Firms: Philippi Prietocarrizosa Ferrero DU & Uría;

Clients: Fondo de Inversión Privado Lantánidos;