Transactions & Cases Detail



Transaction/Case Details

Goldcorp acquires New Gold’s 30% interest in the El Morro project in Chile; Goldcorp and Teck combine El Morro and Relincho projects to form new 50/50 joint venture

DATE CLOSED

November 24, 2015

BUSINESS SECTOR

Mining & Metals

LEAD OFFICE

Vancouver

VALUE

3.5 Billion USD


OVERVIEW

On August 27, 2015, Goldcorp Inc. ("Goldcorp") announced an agreement to purchase New Gold Inc.'s  30% interest in the El Morro copper-gold project in Chile. Following the acquisition, Goldcorp will own 100% of the project. Under the terms of the agreement, Goldcorp will pay New Gold US$90 million in cash at closing and a 4% gold stream on future gold production from El Morro.

Goldcorp also announced an agreement with Teck Resources Limited to combine their respective interests in the El Morro (including the 30% interest to be acquired from New Gold as described above) and Relincho projects in Chile into a 50/50 joint venture.

Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines. 

McCarthy Tétrault LLP advised Goldcorp with a team that included Roger Taplin, Adam Wanke, and Patrick Deutscher (Mining and M&A).

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