Morales & Besa advised Fiore Atacama SpA of mining concessions agreement

May 29, 2017

Morales & Besa successfully advised Fiore Atacama SpA in the execution of the Unilateral Option for the Purchase of Mining Concessions Agreement owned by Sociedad Química y Minera de Chile S.A. (SQM), located in Antofagasta, Antofagasta region.

The transaction involved an amount of US $ 1,259,700 as price for the mining concessions, which shall be paid in installments as established in the contract to maintain the purchase option in force, plus a royalty to be paid in the form determined in such agreement.

The relevance of this transaction is that Fiore Atacama SpA may, after carrying out several explorations in the mining concessions, opt for the purchase of the mentioned concessions, having a term of 5 years to exercise the option, in the form and terms indicated in the agreement. In addition, a title review of the mining concessions was carried out in order to verify the feasibility of the transaction.

The Morales & Besa team that participated in the transaction was composed by partner Eugenio Besa and associates Lorena Barrientos, Katannya Jablonski and Alfonso de Urruticoechea.