Leading global law firm Baker McKenzie has advised Chile-focused Mantos Copper, run by British investment Audley Capital Advisors and Orion Mine Finance, in entering a definitive agreement with Canada's Capstone Mining to form a new, Americas-focused copper producer called Capstone Copper.

The new miner, which will trade on the Toronto Stock Exchange, will have a combined 2021 copper production base of more than 175,000 tonnes of the metal and joint reserves of 4.9 million tonnes. The plan is to boost the combined company’s production by 45% by 2024 to 260,000 tonnes of copper per year.

The team led by partner Antonio Ortúzar Jr., including partners Mirco Hilgers, Alberto Maturana, and associate Andrés Lecaros, assisted Mantos in the corporate, mining, labor and tax considerations implicated in the merger, and in carrying out a due diligence of Capstone's mining assets in Chile, mainly regarding the company's Santo Domingo project.

Antonio Ortúzar Jr. said, "We are delighted to have acted for Mantos in this important business decision as it will boost the capacity of the mines to produce copper, a mineral used in construction and power, which has become one of the most sought-after commodities due to its key role in the transition to a greener economy."

The transaction is expected to close in the first quarter of 2022 following customary shareholder, regulatory and court approvals.

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