BHP Agrees to Sell Cerro Colorado Copper Mine to EMR Capital for $230 Million

June 19, 2018

S&C represents BHP in its agreement to sell Cerro Colorado copper mine in Chile to private equity manager EMR Capital for a total cash consideration of $230 million to be paid to BHP after closing of the transaction (subject to customary closing adjustments), plus approximately $40 million in proceeds from the post-closing sale of certain Cerro Colorado copper inventory, and a contingent payment of up to $50 million to be paid in the future, depending upon copper price performance. The S&C team on the transaction was led by Sergio Galvis, along with Benjamin Kent, Alexander Smorczewski, Emily Lichtenheld, Lee Parnes and Estefania Souza. Justin Orr advised on intellectual property matters.