Triple Flag’s $250 Million Silver Stream Agreement on Milpo’s Cerro Lindo Mine


Rubio Leguía Normand, Dechert, Torys, Rebaza, Alcázar & De Las Casas and McCarthy Tétrault have advised on the deal

Triple Flag Mining Finance Bermuda Ltd. has entered into a silver stream agreement with Milpo UK Limited, a subsidiary of Compañía Minera Milpo S.A.A., in relation to silver production from Cerro Lindo, a poly-metallic zinc mine in Peru.

Triple Flag Bermuda will make an upfront payment of US$250 million to Milpo UK and will pay 10% of the spot silver price at the time of delivery for each ounce of silver delivered under the agreement. Milpo is 100% owner of Cerro Lindo and is a subsidiary of VM Holding S.A. (“VMH”), part of Votorantim S.A.’s portfolio.

Rubio Leguía Normand has advised Triple Flag Mining Finance Bermuda Ltd. with a team including Xennia Forno (Picture), Carlos Arata, María Claudia Arias and Alexia Salmón.

Conyers advised for Triple Flag Mining Finance Bermuda Ltd. with Michael Frith.

Dechert LLP has advised Triple Flag Mining Finance Bermuda Ltd. with Dennis Hranitzky, Paul Fleming and Chris Horrocks.

In Toronto, Torys LLP has advised Triple Flag Mining Finance Bermuda Ltd. with Ian Arellano, Amanda Balasubramanian, Michele Cousens and Patrick Chapman.

Rebaza, Alcázar & De Las Casas has advised Minera Milpo S.A.A. with Luis Miguel Elías, Camilo Maruy, María Fernanda Gadea, Daniela Urquiza and Sebastián de la Puente.

McCarthy Tétrault has advised Minera Milpo S.A.A. with Roger Taplin, Frederico Marques, Chris Langdon, Patrick Deutscher and Ainslie Hurd.

Involved fees earner: Xennia Forno – Rubio Leguía Normand; Carlos Arata – Rubio Leguía Normand; María Claudia Arias – Rubio Leguía Normand; Alexia Salmón – Rubio Leguía Normand; Luis Miguel Elías – Rebaza Alcazar & De Las Casas Abogados Financieros; María Fernanda Gadea – Rebaza Alcazar & De Las Casas Abogados Financieros; Sebastian De La Puente – Rebaza Alcazar & De Las Casas Abogados Financieros; Camilo Maruy – Rebaza Alcazar & De Las Casas Abogados Financieros; Daniela Urquiza – Rebaza Alcazar & De Las Casas Abogados Financieros; Michael Frith – Conyers Dill & Pearman; Dennis H. Hranitzky – Dechert; Paul Fleming – Dechert; Chris Horrocks – Dechert; Roger Taplin – McCarthy Tétrault; Frederico Marques – McCarthy Tétrault; Patrick Deutscher – McCarthy Tétrault; Ainslie Hurd – McCarthy Tétrault; Christopher Langdon – McCarthy Tétrault; Amanda Balasubramanian – Torys LLP; Ian Arellano – Torys LLP; Michele Cousens – Torys LLP;

Law Firms: Rubio Leguía Normand; Rebaza Alcazar & De Las Casas Abogados Financieros; Conyers Dill & Pearman; Dechert; McCarthy Tétrault; Torys LLP;

Clients: Triple Flag Mining Finance Ltd.; Compañía Minera Milpo SAA;

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Author: Ambrogio Visconti.