Miyanou Dufour and Paola Ramos of Hernández & Cía., and Raúl Ferreyra of CMS Grau, have advised Rio Tinto to form a joint venture with First Quantum Minerales Ltd. whereby the latter will acquire a 55% interest in the La Granja Mining Project, with Rio Tinto holding the remaining 45% interest.
This advice to Rio Tinto has included leading the negotiation with the Peruvian State with the objective of modifying the La Granja Mining Project Transfer Agreement, reviewing the transaction documents, advising on the requirements for the applicable governmental authorizations in order to materialize this joint venture.
Both firms have extensive knowledge of the La Granja Project due to the long relationship with Río Tinto fostering synergies among the teams which resulted in the achievement of said project, a milestone for Peruvian mining industry.
We are very pleased to have been part of this transaction, as the La Granja Project is one of the largest undeveloped copper deposits in the world.
This transaction allows us to reactivate the flow of investment in the project to advance to the next phase of its development, which will contribute technically, economically and socially to the country.
We thank Rio Tinto and María Alejandra Delgado, General Manager of Rio Tinto Minera Peru Limitada SAC, who has led the local legal, commercial and government relations efforts, for the trust placed in their team of external lawyers to accompany them in this challenge that was finally achieved.