Torys acted as counsel to Mitsubishi in the joint venture arrangements, equity arrangements, development contracts, operating arrangements and US$1.3 billion project financing for the US$2.3 billion Antamina mining project in Peru, the project and construction financing for which was provided by 17 commercial banks in the United States, Canada, Germany, Finland, France, the Netherlands, Peru and Japan.
The project won Euromoney Project Finance's Latin America Mining Deal of the Year.
The Antamina copper and zinc mine is a large, open pit, truck/shovel operation, located in the Andes mountain range, 270 km north of Lima, Peru.
The mine is operated independently by Compañía Minera Antamina SA, a company jointly owned by BHP Billiton (33.75%), Glencore (33.75%), Teck Resources (22.5%) and Mitsubishi Corporation (10%).
Torys acted as counsel with a team led by Jonathan Weisz.
Torys also acted on the following in connection with this project: