Franco-Nevada acquires a Gold & Silver Stream on Candelaria from Lundin Mining

Torys acted as counsel to Franco-Nevada with a team that included Mike Amm, Philip Mohtadi, Adam Delean, Sean Adair, Yinka Olusoga and Craig Maurice.

On November 3, 2014, Franco-Nevada Corporation (Franco-Nevada) completed its acquisition of a gold & silver stream on production from the Candelaria and Ojos del Salado mines (collectively "Candelaria") located in Chile from Lundin Mining Corporation (Lundin). The US$648 million up front deposit paid by Franco-Nevada under the agreement provided a key portion of the financing for Lundin's US$1.8 billion acquisition of an 80% ownership stake in Candelaria from Freeport-McMoRan Inc. (Freeport).

Candelaria is a well-established producing copper asset with a competitive operating cost profile over the life-of-mine and a substantial reserve life. The operation produces significant amounts of gold and silver in addition to copper.

Franco-Nevada is a gold-focused royalty and stream company, with a diversified portfolio of lower risk, high margin cash-flow producing assets and interests.

Further information can be found on Franco-Nevada's website.