Transactions & Cases Detail
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
November 24, 2015
Mining & Metals
3.5 Billion USD
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).