On September 8, 2017, Peru’s Private Investment Promotion Agency (ProInversión) invited Muñiz, Ramírez, Pérez-Taiman & Olaya to participate in an international competitive bidding process where the successful bidder would provide legal advice in relation to the award of the Michiquillay Copper Project. ProInversión choose Muñiz, Ramírez, Pérez-Taiman & Olaya as the legal adviser of the project on October.
The competitive bidding process was aimed at selecting a law firm with enough experience in the mining field, specifically in projects implemented in the last 10 years, involving a production of over 20,000 tons a day and an investment of no less than US$250 million.
Moreover, participating law firms were required to have experience in securing the permits, approvals and licenses required for the development of mining projects.
Our firm, given the regulatory impact of mining activities, made available to ProInversión its thirty-seven (37) practice groups to answer all inquiries and concerns during the course of the competitive bidding process.
To this end, it set up a team of lawyers with extensive experience in Tax Law, Finance Law, Mining-Environmental Regulations, and Administrative Law to channel and answer all of ProInversión’s concerns and questions related to the award of the Michiquillay copper Project.
It should be pointed out that Michiquillay is a copper porphyry deposit containing gold and silver, located on land belonging to the Michiquillay and La Encañada agrarian communities, approximately 45 km. away from the city of Cajamarca and 900 km. north of Lima, at 3,950 meters above sea level. It is located in the district of La Encañada, province and department of Cajamarca.
Michiquillay is an open-pit mine which will require an estimated investment of US$2 billion, its mining capacity being 187.000 tons of copper per year.
This Project represents the largest investment announced by the President of Peru this year.