Wheaton River Minerals Ltd. acquired an indirect 25 per cent interest in the Bajo de la Alumbrera gold and copper mine in Argentina from Rio Tinto Limited through an indirect acquisition of shares of Minera Alumbrera Limited and through the acquisition of subordinated debt in connection with the project. Wheaton River Minerals acquired, at the same time, from Rio Tinto all the issued and outstanding shares in the capital of the Peak Gold Mines Pty. Ltd. in New South Wales, Australia. The aggregate purchase price paid by Wheaton River Minerals was US$210 million and the transaction closed on March 17, 2003.
Wheaton River Minerals was represented by Paul Stein, Ann Watterworth and Erik Goldsilver of Cassels Brock & Blackwell LLP; assisted by Brad Ross and Trish Reginato of Phillips Fox in Australia; by Philip Paschalides, Gwyneth Rees and Mark Lewis of Walkers in the Cayman Islands; by Russell Da Silva of Lovells in New York; and by Gonzalo Caceres and Beatriz Lopez-Provera of Baker & McKenzie in Argentina. Rio Tinto was represented by in-house counsel Sandra Walker.