Empresa Minera Los Quenuales S.A. acting as seller, a Peruvian subsidiary controlled by Glencore, closed the sale of all shares issued by Contonga Minería S.A.C., a Peruvian company that owns the rights to the Contonga mine, to purchaser Norcobre S.A.C., an affiliate to Compañía Minera Lincuna S.A. The terms and conditions of the transaction, including the purchase price, remain confidential.
Rebaza, Alcázar & De Las Casas advised Los Quenuales and its group Glencore in the transaction. Prior to closing, the company effected a corporate reorganization to transfer all assets, liabilities, permits and authorizations of the Contonga mine to a newly incorporated company, Contonga Minería S.A.C., which now holds all rights to the Contonga mine. In addition to the corporate reorganization, the transaction obtained the approval from INDECOPI under the prior merger control procedure established in 2021 in Peru.
In 2016, Los Quenuales acquired the Contonga mine from its prior operator, the Belgium miner Nyrstar. The mine is located in the central Andes, in the region of Ancash, Peru and has more than 25 years of operation. Contonga is an underground polymetallic mine, with main concentrates including zinc, lead, silver and copper.