MDC Industry Holding Company LLC enters into joint venture with Aris Gold Corporation
April 12, 2022
On April 15, 2022, MDC Industry Holding Company LLC, a subsidiary of Mubadala, and certain of its affiliates entered into a joint venture transaction with Aris Gold Corporation (“Aris”) and certain of its affiliates in respect to the Soto Norte project in Colombia, pursuant to which Aris acquired a 20% equity interest in the joint venture company, MIC Global Mining Ventures, S.L.U. (“JVCo”), for US$100 million and an option to acquire a further 30% equity interest in JVCo for US$300 million.
Under the terms of the transaction, Mubadala also acquired a precious metals stream from JVCo which will take effect after certain production milestones have been met.
MDC Industry Holding Company, headquartered in Abu Dhabi, UAE, is part of the management of companies and enterprises industry.
Aris Gold Corporation, headquartered in Vancouver, BC, is a Canadian mining company which creates value through building globally relevant gold mining companies.
McCarthy Tetrault advised MDC Holding Company LLC with a team led by Roger Taplin and Shawn Doyle that included Ainslie Hurd, Peter Quon, Chris Langdon, Jordan Chu (Business), and Lance Williams (Litigation).