Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Private equity firm Mineria Activa acquired 90% of Pampa Camarones through a US$18mm capital increase in the company.
Previous shareholders, Samsung C&T and Pampa Mater, kept a minority participation.
Pampa Camarones is a copper mining company located in the region of Arica, Chile. The company has a capacity to produce 8500 tons of copper cathodes per year and has been in operation since 2014.
The transaction, after more than a year of negotiations with shareholders and debtors, was executed under the Chilean law of Insolvency and Restructuring, which allowed the company to avoid bankruptcy and liquidation.
Among the relevant aspects of the transaction, was the agreement with debt holders to reduce the company’s debt from US$115mm to US$21mm.
About Mineria Activa
Mineria Activa is a private equity firm focused on mining, associated with private equity group Activa. Mineria Activa was founded in 2008 with assets under management of US$160mm.
