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Morgan & Morgan advised Minera Panama in connection with the purchase of concession rights and assets of Petaquilla Minerals for an amount of up to US$60 million

Thursday, 08 May 2014 / Published in Aristides Anguizola, expertise, Inocencio Galindo, Mining

Morgan & Morgan advised Minera Panama in connection with the purchase of concession rights and assets of Petaquilla Minerals for an amount of up to US$60 million

Morgan & Morgan acted as Panamanian counsel to Minera Panama, S.A., subsidiary of First Quantum Minerals, in connection with the purchase of concession and mining exploration rights and assets of Petaquilla Minerals, Ltd. and subsidiaries for an amount of up to US$60 million.

The transaction entailed the purchase of assets, acquisition of government approvals, and the cancellation of a mortgage of over real property, among others – therefore, complex legal work and negotiations with various parties was involved.

In Panama First Quantum Minerals assumed an 80% equity interest in Minera Panama, S.A., the Panamanian company that holds the Cobre Panama concession, a large open-pit copper development project located 120 kilometres west of Panama City and 20 kilometres from the Caribbean Sea Coast.

Partner Inocencio Galindo and associate Aristides Anguizola, participated in this transaction

Morgan & Morgan actuó como asesor local de Minera Panamá S.A., una subsidiaria de First Quantum Minerals, en la compra de los derechos de concesión y exploración minera y activos de Petaquilla Minerals, Ltd. y subsidiarias por una suma hasta US$60 millones.

La transacción comprendía la compra de activos, adquisición de permisos gubernamentales, y la cancelación de una hipoteca sobre la finca, entre otros, lo que involucraba un trabajo legal y negociaciones complejas.

En Panamá, First Quantum Minerals asumió un 80% del interés patrimonial en Minera Panamá, S.A., la compañía panameña que posee la concesión de Cobre Panamá, un gran proyecto minero a cielo abierto ubicado a 120 kilómetros al oeste de la ciudad de Panamá y 20 kilómetros de la costa caribeña.

Inocencio Galindo, socio, y Aristides Anguizola, asociado, participaron en esta transacción.

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