Noranda Inc. and Falconbridge Limited have acquired the Lomas Bayas copper mine and the Fortuna de Cobre exploration property in Chile from Boliden Limited. The purchase price is US$175 million less third-party debt and cash balances and, if Noranda and Falconbridge exercise the right to retain the Fortuna de Cobre property, an additional US$15 million.
Steven Astritis, Hillar Pinna and Julie Galloway are Noranda’s in-house counsel, and in-house counsel at Falconbridge is Jeff Snow. McCarthy Tétrault represents the offshore subsidiaries of Noranda and Falconbridge with a team including Garth Girvan, Richard Miner (mining), Ian Arellano, Phil Kurtz, France Tenaille, Alejandra C. Flah (Latin American M&A), Robert Stephenson (banking) and Gabrielle M. Richards (tax). In addition to the acquisition, McCarthy Tétrault is advising Noranda/Falconbridge on the potential restructuring of the external debt owing by the Lomas Bayas project to an existing banking syndicate.
McMillan Binch represents Boliden with a team that includes Robert Scavone, William Woloshyn, Andrew McFarlane and Ilana Singer. Local Chilean counsel for Noranda and Falconbridge is Cariola Diez Pérez-Cotapos, while local counsel for Boliden is Carey y Cía. Ltda. The Cariola team is headed by Carlos Pérez-Cotapos and includes Sebastián Obach and Gonzalo Grez. The Carey law firm is led by Claudio Lizana, with Daniel Altikes and Mauricio Alvarez assisting.