Ttender for Peru’s Michiquillay mine


Muñiz, Olaya, Meléndez, Castro, Ono & Herrera, Rodrigo, Elías & Medrano and Lazo, De Romaña & CMB advised on the transaction

Southern Copper Corp won a tender to develop Peru’s Michiquillay copper mine.

Southern, controlled by Grupo Mexico SAB de CV, won with a proposal to transfer $400 million to the government and pay 3 percent royalties.

According to the estimated by Peru’s government the mine can produce 1.159 billion tonnes in copper resources and will need investment of around $2 billion to develop. Goldman Sachs acted as financial advisor on the tender.

Peru’s Private Investment Promotion Agency (ProInversion) is a state agency tasked with promoting the participation of private investors in utilities and public infrastructure works, in state-owned assets, projects and companies and other government activities. The agency was created in 2002 as a merger of the former Fopri, Copri, Conite and PromPeru, subsuming the responsibilities previously held by these agencies. The agency is based in Lima.

Southern Peru Copper Corp., Sucursal del Peru, a mining metallurgical company, produces and sells copper and other by-products. The company led by J. Eduardo Gonzalez Felix and Xavier García de Quevedo Topete, operates as a subsidiary of Southern Copper Corporation.

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera advised ProInversión with a team including Gabriela Jáuregui (Picture), Yuri Vega, Fernando Babarczy, Andrés Kuan-Veng, Magali Lazo, Ronald Cross, Silvana de Olazaval, Alejandra de las Casas, Daniel Málaga and Anthony Muñoz.

Rodrigo, Elías & Medrano advised Southern Perú Copper Corporation with Oscar Benavides, Juan Diego de Vinatea, Francisco Barrios, Francisco Carrillo and Tomás Denegri.

Lazo, De Romaña & CMB advised Goldman Sachs with Jorge Lazo, Fátima De Romaña, Joselyn Olaechea, Patricia Brocos and Maurice Saux.

Involved fees earner: Jorge Lazo – Lazo, De Romaña & Gagliuffi Abogados; Fátima De Romaña – Lazo, De Romaña & Gagliuffi Abogados; Patricia Brocos – Lazo, De Romaña & Gagliuffi Abogados; Joselyn Olaechea – Lazo, De Romaña & Gagliuffi Abogados; Gabriela Jáuregui Morán – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Fernando Babarczy Barrera – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Magali Lazo Guevara – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Silvana de Olazaval Carty – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Daniel Málaga Cuadros – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Yuri Vega Mere – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Alejandra Santistevan de las Casas – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Andrés Kuan-Veng Cabrejo – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Ronald Cross Barragán – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Óscar Benavides – Rodrigo, Elías & Medrano Abogados; Francisco Barrios – Rodrigo, Elías & Medrano Abogados; Tomás Denegri – Rodrigo, Elías & Medrano Abogados; Juan Diego De Vinatea – Rodrigo, Elías & Medrano Abogados; Francisco Carrillo – Rodrigo, Elías & Medrano Abogados;

Law Firms: Lazo, De Romaña & Gagliuffi Abogados; Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Rodrigo, Elías & Medrano Abogados;

Clients: Goldman, Sachs & Co.; Agencia de Promoción de la Inversión Privada (ProInversion); Southern Perú Copper Corporation;

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Author: Ambrogio Visconti.