Votorantim Metals announced in early August its takeover bid as majority owner of Milpo, Peru’s third largest zinc mining company. The US$420 million bid is the result from a stock initial public offering held at the Lima Stock Exchange on June 30, which allowed Votorantim Metals to acquire a major stake in Milpo.

Milpo is one of the world’s most competitive companies in the mining industry thanks to its strong technical skills and management excellence combined with the quality of its assets. Milpo owns three polymetal mines located in Peru and two copper mines – one in Peru and one in Chile. Milpo has an extensive mining project portfolio, which ensures the company’s continuous growth.

Milpo’s stock buying process started gradually in 2005 and evolved over the years. “The increase in Milpo’s stake helps Votorantim Metals Zinc to further reinforce its competitive edge on a global scale and places us as the second largest zinc producer in the world with the lowest cost in the global cost curve,” states João Bosco Silva, VM CEO.