Minsur S.A. in $505 Million Purchase Representing 70% of the Mina Justa Deposit in Peru

Cleary Gottlieb represented Cumbres Andinas S.A., a subsidiary of Minsur S.A., the world’s fourth largest and Peru’s largest producer of tin in terms of tonnage, in its $505 million purchase of CST Mining’s 70% interest in the Mina Justa deposit. CST Mining is a Hong Kong-listed company and the closing is subject to CST shareholder approval in accordance with HKSE rules.

The Mina Justa deposit, located in southern Peru, is a world-class long life copper deposit with a resource base of more than 3 million tonnes of contained copper. The 33,000 hectares of associated mineral rights potentially include further resources in and around the existing Mina Justa deposit. The National Government of Peru has given the Mina Justa Project “National Interest” status.