Morrison Foerster represented Sumitomo Corporation on its sale of the San Cristóbal Mine in Bolivia. The Mine processes one of the largest deposits of zinc, lead, and silver in the world, and is the largest mining operation in Bolivia. MoFo also represented Sumitomo on its initial acquisition of a 35% stake in the Mine and subsequent increase to 100%.
The sale was structured as a sale of shares in Comercial Metales Blancos AB, which indirectly owns the San Cristóbal Mine, together with other related entities, to San Cristóbal Mining Inc. The transaction closed on February 10, 2023.
The MoFo team advising Sumitomo was led by Tokyo project finance partner Mike Graffagna and Tokyo corporate partner Leo Aguilar, with support from Tokyo corporate partner Yohei Nakagawa and Tokyo corporate associate Ganesh Vaheisvaran.