Carey advised Barrick Gold Corporation in an agreement to sell a 50% interest in the Zaldívar copper mine in Chile to Antofagasta Plc
August, 2015 - Santiago, Chile
Carey has advised Barrick Gold Corporation in an agreement to sell a 50% interest in the Zaldívar copper mine in Chile to Antofagasta Plc ("Antofagasta") for a total consideration of USD1,005 billion in cash, forming a new partnership with one of the world’s leading copper companies. The transaction is expected to be completed in late 2015 and is subject to customary closing conditions.
Under the new ownership structure, Zaldívar will have a joint Barrick-Antofagasta Board of Directors consisting of three Barrick nominees and three Antofagasta nominees. Antofagasta will act as the operator of the mine and will be subject to oversight and direction by the Board.
Carey advised Barrick through a team led by partners Francisco Ugarte and Alex Fischer, and associates Jorge Ugarte, Alejandra Donoso, Isabel Espinoza, Camila Noreña, Raúl Morales, Josefina Joannon, Macarena Pivcevic, Héctor Hernández, José Tomás Barrueto, Miguel Saldivia and Tomás de la Maza.
