en.Wedoany.com Reported - Mexico's Frontera Copper Corporation and Kupari Investments Ltd. have announced the initiation of a strategic sale process for the Piedras Verdes mine. The sale will involve 100% of the equity in the Piedras Verdes mine held by Frontera and Kupari's wholly-owned subsidiary, Kupari Metals A.G. The two companies have engaged BMO Capital Markets as financial advisor and Blake, Cassels & Graydon LLP as legal counsel to advance the transaction.
Piedras Verdes is an operating copper mine located in Sonora, Mexico, a mining-friendly and politically stable region. The mine benefits from well-developed infrastructure and a skilled workforce in the surrounding area. Management believes that, driven by sustained strong copper demand, long-term electrification trends, and copper supply shortages due to the lengthy development cycles of new mines, this sale is expected to generate substantial returns for the sellers, while providing the acquirer with immediate access to commercial production and capacity expansion opportunities.
BMO Capital Markets has begun contacting multiple potential acquirers. The company will grant access to a database containing confidential information once potential acquirers sign satisfactory confidentiality agreements.
About Frontera Copper Corporation: The company is a copper mining enterprise engaged in the extraction and processing of sulfide and oxide ores, producing London Metal Exchange Grade A copper cathodes, and selling primary ore primarily to Kupari Metals.
About Kupari Metals: The company is a base metal processing enterprise that processes copper-bearing materials into copper concentrates for sale. The raw materials processed come from primary sulfide ore from the Piedras Verdes operation.
About Advisors and Legal Team: The two companies have engaged BMO Capital Markets as financial advisor and Blake, Cassels & Graydon LLP as legal counsel to assist with this transaction process.
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