Morales & Besa advised Arena Minerals Chile SpA in the amendment to the Unilateral Option for the Purchase of Mining Concessions Agreement of Project Sierra Gorda, owned by Sociedad Química y Minera de Chile S.A.

January 12, 2018

Morales & Besa successfully advised Arena Minerals Chile SpA in the amendment of the Unilateral Option for the Purchase of Mining Concessions Agreement of Project Sierra Gorda, owned by the Sociedad Química y Minera de Chile S.A. (“SQM”), located in communes of María Elena and Antofagasta, which correspond to the epithermal gold Paciencia project and the copper porphyry Pampa Union project.

The projects consist of a total of 7,061 hectares.  The two projects retained by Arena are the Paciencia project and the Pampa Union project, for which the formation of two joint venture companies with SQM on an 80% Arena and 20% SQM basis is anticipated, and Arena making the underlying payment of USD30 per hectare retained.

Morales & Besa team involved in this transaction was formed by the partner Eugenio Besa, with the participation of the associates Lorena Barrientos and Katannya Jablonski.