Minería Activa acquires about 90% of Pampa Camarones for US$18 million

Government gives support to LarrainVial’s mining arm to reactivate Pampa Camarones
2 May, 2018

The investment management society also informed that an agreement was reached with the shareholders and creditors of Pampa Camarones, which took the company debt from
US $ 115 million to US $ 21 million.

The management company of investment vehicles of private capital for the mining sector, Minería Activa, agreed the acquisition of about 90% of the mining company Pampa Camarones, through a capital increase of US $ 18 million (the other 10% of the property was left in the hands of the previous shareholders: Samsung and Pampa Mater).

Through a press release, it was informed that the agreement was finalized after more than a year of negotiation with the shareholders and creditors of the company, and is part of the request of Minería Activa to the company to enter a reorganization process under the Insolvency and Re-entrepreneurship Law, with the objective of avoiding bankruptcy.

Minería Activa also reported that “among the relevant elements of the transaction, an agreement was reached with the shareholders and creditors of Pampa Camarones, which took the company’s debt from US $ 115 million to US $ 21 million.”

On the other hand, the general manager and partner of Minería Activa, Ignacio Del Río, stressed that “with this transaction, the only metal mining company in the Arica and Parinacota Region is saved from bankruptcy and liquidation. Our objective is long-term Pampa Camarones, hoping to grow the current operation and develop the mining district. “

Del Río added that “we hope to initiate a new relationship with environmental and regional authorities, in order to coordinate compliance with the company’s commitments and duties, allowing the proper operation of the mining operation.”

It should be noted that Minería Activa is an association between a group of experienced managers in the mining sector and Activa, the private capital arm of LarrainVial.

This company was created in 2008 with the purpose of creating and managing investment vehicles of private capital to develop the mining business from exploration to exploitation. Currently manages funds / vehicles with capital base for US $ 160 million.

Fuente: Mineria Chilena