We advised Salares de Atacama Sociedad Contractual Minera (SCM), jointly controlled by the Vecchiola family, and Talison Lithium, controlled in turn by Tianqi (51%) and Albemarle (49%), in the sale to Eramet of the lithium mining project, "Siete Salares." The result was a binding offer of US$95 million from the French group Eramet, plus an additional premium of US$10 million, subject to obtaining certain permits.
The process was conducted through a private bidding process carried out by Asset Chile for the sale of over 400 mining concessions located in 7 salt deposits in Chile.
Our counselling included our support in technical matters, project history, legal input regarding lithium regulations, and corporate support regarding the selling company's shareholder entities, among others.
The seven salt flats (siete salares):
- *La Isla (16,500 ha);
- Agua Amarga (3,100 ha);
- Parinas (5,400 ha);
- Grande (4,000 ha);
- *Aguilar (8.800 ha);
- Piedra Parada (1,500 ha);
- Maricunga (104 ha)."
This project comprises mining concessions covering an approximate area of 40 thousand hectares in the salt flats of Piedra Parada, Aguilar, La Isla, Parinas, Grande, Agua Amarga, and Maricunga.
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