Gowling WLG's international Mining team has advised Aura Minerals Inc. on its acquisition of Mineração Serra Grande (MSG) in Goiás, Brazil, from AngloGold Ashanti.
Aura Minerals, a TSX listed gold and copper producer with operations in Honduras, Brazil and Mexico and a market capitalisation of approximately C$2.5 billion, has acquired MSG for a cash consideration of US$76 million on closing, with additional deferred consideration payments linked to net smelter returns.
The acquisition represents a significant step in Aura's growth strategy, adding a well established asset in Brazil's prominent greenstone belt.
Aura intends to implement a targeted exploration programme and operational efficiencies to enhance performance, extend mine life and drive further production growth at MSG.
The English law elements of the transaction were led by Partner and Leader of the firm's UK Mining Group, Charles Bond, with assistance from Principal Associate Sian Dewing.
Brazilian law advice was provided by Demarest. The UK team were supported by Partners France Tenaille (Head of South American mining desk), Ian Mitchell (Leader of the firm's Canadian Mining Group) and Associate Lee Sykes from the firm's Toronto office. The collaboration demonstrates the firm's ability to deliver joined up, multi-jurisdictional support across international offices and trusted local partners.
Gowling WLG's Mining team advises clients across the full mining lifecycle – from exploration and development through to production, financing and M&A. With deep sector knowledge and a global footprint, the team supports mining companies, investors and financiers on complex, cross-border matters, helping them to achieve their strategic objectives in a dynamic and evolving industry.