Sumitomo Corporation has sold the largest mining operation in Bolivia to Vancouver-based San Cristobal Mining (SCM).
The acquisition was completed under the terms of a stock purchase agreement, which sees SCM acquire all the issued and outstanding shares of Commercial Metales Blancos AB, SC Minerals Bolivia S.R.L, and other subsidiaries which hold all the equity interests in the mine. Watson Farley & Williams advised SCM.
The San Cristobal mine has one of the largest deposits of zinc, lead, and silver in the world and is the largest mining operation in Bolivia. The operation focuses on the production of zinc-silver and lead-silver mineral concentrates.
SCM is a private Canadian mining company with exploration and mining operations as well as financial expertise in the mining industry.