Freeport Minerals Corporation acquired an 1.5% stake in Sociedad Minera Cerro Verde S.A.A. (BVL:CVERDEC1) for approximately $210 million on September 12, 2024. A cash consideration will be paid by Freeport Minerals Corporation. As part of consideration, an undisclosed value is paid towards common equity of Sociedad Minera Cerro Verde S.A.A. Under the terms of agreement, Freeport Minerals Cooperation has acquired 5,321,370 shares of Sociedad Minera Cerro Verde S.A.A. for $209 million. Scotiabank acted as financial advisor to Freeport Minerals Corporation in the transaction.

Freeport Minerals Corporation completed the acquisition of 1.5% stake in Sociedad Minera Cerro Verde S.A.A. (BVL:CVERDEC1) on September 12, 2024.