Quebrada Blanca Phase 2 Recognized by Project Finance InternationalJanuary 10, 2020
The Quebrada Blanca Phase 2 copper mine project, on which S&C served as legal adviser, was awarded the “Americas Mining Deal of the Year,” in the 2019 Roll of Honour by Project Finance International.
S&C advised Teck Resources Limited, a Canadian mining and mineral development company, in the project financing by Compañia Minera Teck Quebrada Blanca of its development of the Quebrada Blanca Phase 2 copper mine project in northern Chile. QB2 is owned 60% by Teck, 25% by Sumitomo Metal Mining, 5% by Sumitomo Corporation and 10% by Empresa Nacional de Mineria, a Chilean state-owned company. According to PFI, “The deal was the first major mining deal done in Chile in the past five years, one of the largest in the region for a while, and combined the different liquidity sources under a multi-tranche deal.” This is the second year in a row that a project on which S&C advised was awarded the “Americas Mining Deal of the Year.” Last year, the Mina Justa copper mine project financing won the award.