On August 16, 2016, Vale S.A. (“Vale”) completed the sale to Silver Wheaton Corp (“Silver Wheaton”) of an additional 25 per cent of the gold by-product stream from Vale’s Brazilian Salobo copper mine for US$800 million and approximately US$23 million in option value arising from re-pricing of certain Silver Wheaton warrants.
Vale was represented in-house by Carl De Luca (Head of Legal, Base Metals, Corporate) and Jennifer Byun (Senior Legal Counsel, Base Metals, Corporate); and were assisted by Daphne MacKenzie and Colin Burn of Stikeman Elliott LLP.
Silver Wheaton was represented internally by Curt Bernardi and Tamara Howarth; and by Mark Bennett, David Budd, Alexandra Iliopoulos and Afzal Hasan of Cassels Brock & Blackwell LLP.
