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HomeSector InsightsMergers & AquisitionsWFW Counsels SCM On Bolivian Mine Acquisition Financing

WFW Counsels SCM On Bolivian Mine Acquisition Financing

Watson Farley & Williams (“WFW”) has supported Vancouver-based San Cristobal Mining Inc. (“SCM”) on the financing  for its purchase of the San Cristóbal mine in Bolivia from Sumitomo Corporation.

The acquisition was completed under the terms of a stock purchase agreement which sees SCM acquire all the issued and outstanding shares of Commercial Metales Blancos AB, SC Minerals Bolivia S.R.L and other subsidiaries which hold all of the equity interests in the mine.

The San Cristóbal mine has one of the largest deposits of zinc, lead, and silver in the world and is the largest mining operation in Bolivia. The operation focusses on the production of zinc-silver and lead-silver mineral concentrates.

SCM is a private Canadian mining company comprising exploration, mining, operations and finance professionals with substantial international experience in the mining industry.

Sumitomo is a leading Fortune 500 global trading and business investment company with 111 international locations and 20 locations in Japan.

The WFW London Mining and Commodities team that advised SCM was led by Global Mining and Commodities Sector Head Jan Mellmann and Project and Structured Finance Partner Daisy East, supported by Finance Associate Rachel Lee.

Jan commented: “We are delighted to have advised SCM on the financing for this major acquisition, which clearly demonstrates the appetite in the market for good mining assets in the right locations”.

SCM was co-advised in Canada by Aird & Berlis, with a team led by comprising Corporate Partner Jeff Merk and  Associates Jacqueline Goslett and Michelle Chen, as well as Boughton Law, led by Partner Conrad Nest. PPO, Bratschi and Cirio acted as their Bolivian, Swiss and Swedish counsel respectively.

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