Rebaza, Alcázar & De Las Casas advised Glencore on the sale of its controlling stake in Volcan Compañía Minera S.A.A. to Transition Metals AG, a subsidiary of Integra Capital. The transaction closed on May 8, 2024.
The agreed purchase price for Glencore’s equity in Volcan was USD 20 million and Glencore agreed to provide a secured facility of up to USD 40 million to fund certain mandatory tender offer obligations of Transition Metals under Peruvian laws and regulations.
Volcan is one of the largest producers of zinc, lead and silver in the world. Volcan began operations in 1943 at the heights of Ticlio Pass.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, Glencore produces, processes, recycles, sources, markets and distributes the commodities that support decarbonisation while meeting the energy needs of today.
Integra Capital is an Argentinian company that invests in numerous commodities industries. In the polymetallic mining sector, Integra Capital owns the Aguilar Mine in Argentina, a zinc, silver and lead mine that has been operating for over 80 years. In addition to the Aguilar mine, Integra Capital owns PRC SAU, the largest potash project in Argentina, as well as more than 400 thousand hectares of lithium concessions.
Counsel to Glencore
Rebaza, Alcazar & De Las Casas
Alberto Rebaza (Partner), Luis Miguel Elias (Partner), Camilo Maruy (Partner) Josefina Arana (Senior Associate), Pedro Diaz (Senior Associate), Llanet Gaslac (Senior Associate) and Derek Ortmann (Associate).