Registration of Securities Issued in a Business-Combination Transaction — Form S-4
Filing Table of Contents
Document/Exhibit Description Pages Size
1: S-4 Registration of Securities Issued in a 197 1.00M
Business-Combination Transaction
2: EX-3.1 Cert. of Inc. / Doe Run Resources 36 79K
3: EX-3.2 Amended & Restated Bylaws/ Doe Run 9 39K
4: EX-3.3 Cert. of Inc./Fabricated Products 2 16K
5: EX-3.4 Bylaws of Fabricated Products 9 36K
6: EX-3.5 Cert. of Inc./Doe Run Cayman 1 13K
7: EX-3.6 Memorandum of Association 36 107K
8: EX-3.7 Constitution of Doe Run 18 69K
9: EX-3.8 Constitution/Doe Run Peru 16 67K
10: EX-4.1 Indenture 204 538K
11: EX-4.2 Purchase Agreement 54 155K
12: EX-4.3 Registration Rights Agreement 42 125K
13: EX-4.4 Letter of Transmittal 12 62K
14: EX-5.1 Cadwalader Opinion 3 21K
15: EX-10.1-1 Employment Agreement/Zelms 11 34K
16: EX-10.1-2 Employment Agreement/Kaiser 11 34K
17: EX-10.1-3 Employment Agreement/Amastadi 11 33K
18: EX-10.1-4 Employment Agreement/Boyer 11 33K
19: EX-10.1-5 Employment Agreement/Buckley 11 34K
20: EX-10.2-1 Net Worth Apprec. Agmt/Zelms 8 25K
21: EX-10.2-2 Net Worth Apprec. Agmt/Kaiser 8 26K
22: EX-10.2-3 Net Worth Apprec. Agmt./Amistadi 8 26K
23: EX-10.2-4 Net Woth Apprec. Agmt./Boyer 8 26K
24: EX-10.2-5 Net Worth Apprec. Agmt./Buckley 8 26K
25: EX-10.3 Supplemental Employee Retirement Plan 7 26K
26: EX-10.4 Executive Tax Services Plan 2 15K
27: EX-10.5 Loan & Security Agreement 142 467K
28: EX-10.6 Contrato De Transferencia De Acciones 109 206K
29: EX-10.7 Programa De Adecuacion Y Manejo Ambiental 478 1.63M
30: EX-10.8-1 Covenio De Establilidad Jurica Entre El Estado 10 42K
31: EX-10.8-2 Covenio De Estabilidad Jurica Con Doe Run 10 41K
32: EX-10.8-3 Covenio De Estabilidad Jurica Entre El Estado 9 40K
33: EX-10.8-4 Covenio De Estabilidad Jurica Con Doe Run Peru 10 43K
34: EX-10.8-5 Covenio De Estabilidad Con Doe Run Peru 10 44K
35: EX-10.8-6 Covenio De Estabilidad Jurica Con Doe Run Cayman 12 48K
36: EX-10.8-7 Remite Contrato De Estabilidad Administrativa Amb 20 88K
37: EX-12 Computation of Ratios 1 14K
38: EX-21 List of Subsidiaries 1 12K
39: EX-23.2 Consent of Kpmg 1 13K
40: EX-23.3 Consent of Medina, Zaldivar 1 14K
41: EX-23.4 Consent Pincock, Allen & Holt 1 14K
42: EX-25 Form T-1 7 31K
EX-10.8-7 — Remite Contrato De Estabilidad Administrativa Amb
Exhibit Table of Contents
Exhibit 10.8.7
MINISTERIO DE ENERGIA Y MINAS
Lima, 21 OCT. 1997
OFICIO N0 12.23-97-EM/DGM
Senor
Ing. JORGE MERINO TAFUR
Gerente General
EMPRESA METALURGICA LA OROYA S.A.. (METALOROYA S.A.)
Asunto Remite Contrato de Estabilidad
Administrativa Ambiental
Referencia Recurso No 1152487 del 19-09-97
Tengo el agrado de dirigirme a usted, para remitirle adjunto
al presente el Contrato de Estabilidad Administrativa Ambiental suscrito entre
el Estado Peruano y la Empresa Metalurgica La Oroya S.A., de acuerdo al Articulo
18o del Reglamento del Titulo Decimo Quinto del Texto Unico Ordenado de la Ley
General de Mineria, aprobado por Decreto Supremo No 016-93-EM.
Hago propicia la ocasion, para expresarle las seguridades de
mi especial consideracion y estima personal.
Atentamente,
[ILLEGIBLE]
-----------
[ILLEGIBLE]
Director General de Mineria
Senor Notario:
Sirvase Usted extender en su Registro de Escrituras Publicas,
El Contrato de Estabilidad Administrativa Ambiental que celebran de una parte
el Ministerio de Energia y Minas en representacion del Estado Peruano,
debidamente representado por el Senor Vice Ministro de Minas Ing. Juan MENDOZA
MARSANO, identificado con Libreta Electoral N0 09179432, autorizado por
Resolucion Ministerial No 292-97-EMI/VMM de fecha 7 de Julio de 1997, y de
la otra parte, la Empresa METALURGICA LA OROYA S.A., titular de actividad
minera, con Registro Unico de Contribuyente numero 33526610, sociedad existente
y constituida de acuerdo con las leyes de la Republica del Peru, inscrita en el
Asiento 1 de la Ficha No 040367, del Libro de Sociedades del Registro Publico de
Mineria, domiciliada en Av. Javier Prado Este No 2175, San Borja, a quien en
adelante se le denominara "E1 Titular", debidamente representada por su Gerente
General Ing. Jorge MERINO TAFUR, identificado con Libreta Electoral N0 07341351
segun poder que Usted Senor Notario se servira insertar, en los terminos y
condiciones siguientes:
CLAUSULA PRIMERA - ANTECEDENTES
1.1. Las Normas de Proteccion del Ambiente establecidas en el Codigo
del Medio Ambiente, y los Recursos Naturales, asi como las relacionadas con la
Actividad Minero - Metalurgica contenidas en la Ley General de Mineria y sus
reglamentos aprobados por los Decretos Supremos Nos 016-93-EM y 059-93-EM,
Resoluciones Ministeriales Nos 011-96-EM/VMM y 315-96-EM/VMM, concordantes
con el Decreto Ley No 25763, su Reglamento Decreto Supremo No 012-93-EM y
sus modificatorias Decretos Supremos Nos 036-93-EM y 058-93-EM, establecen
que el Ministerio de Energia y Minas es el encargado de fijar la politica de
proteccion del ambiente en la actividad minero-metalurgica.
1.2 Por Decreto Legislativo No 674 del 25 de Setiembre de 1991,
se declaro de interes nacional la Promocion de la Inversion Privada en las
empresas que conforman la Actividad Empresarial del Estado.
1.3 Mediante Resolucion Suprema No 102-92-PCM se ratifica el
acuerdo adoptado por la Comision de Promocion de la Inversion Privada (COPRl)
conforme al cual se aprueba el nuevo Plan de Promocion de la inversion privada a
que se refiere el Decreto Legislativo No 674.
1.4 Por Resolucion Suprema No 016-96-PCM se ratifica el acuerdo
adoptado por COPRI conforme al cual se aprueba el nuevo Plan de promocion de la
Inversion Privada en relacion a CENTROMIN PERU S.A.
1.5 Por acuerdo de COPRI tomado en sesion del 17 de Abril de 1996,
se autorizo la constitucion de empresas en base a las unidades operativas de
CENTROMIN, de conformidad con el articulo 10o del Decreto Legislativo Numero
674.
1.6 Dentro del contexto expresado se constituyo la Empresa
Metalurgica La Oroya S.A.- denominada tambien METALOROYA S.A., sobre la base de
la Unidad de Produccion de La Oroya, cuyas acciones son integramente de
propiedad de CENTROMIN y cuyo objeto social consiste principalmente, en el
ejercicio de todas las actividades propias de la industria minero metalurgica.
1.7 CENTROMIN PERU S.A. transferira a la Empresa Metalurgica La Oroya
S.A.-METALOROYA S.A., a la suscripcion del contrato de transferencia de acciones
entre CENTROMIN PERU S.A. y DOE RUN PERU S.R.Ltda, ganador de la Buena - Pro en
el Concurso PRI - 16 - 97, las operaciones de la ex-Unidad de Produccion La
Oroya. METALOROYA S.A., asumira la responsabilidad sobre asuntos ambientales
derivados de estas operaciones, por las concesiones mineras y de beneficio que
le sean cedidas.
1.8 Mediante Resolucion Directoral No 017-97-EM-DGM, de fecha 13
de Enero de 1997 la Direccion General de Mineria aprobo el Programa de
Adecuacion y Manejo Ambiental de la Unidad Operativa de La Oroya, cuya
reprogramacion ha sido aprobada por Resolucion Directoral No 325-97-EM/DGM
del 06 de Octubre de 1997.
1.9 CENTROMIN PERU S.A. con recurso No 1152485 del 19 de
Setiembre de 1997, solicito a la Direccion General de Mineria la division del
PAMA de la Unidad de Produccion LA OROYA, la que se aprobo mediante Resolucion
Directoral No 334-97-EM/DGM, del 16 de Octubre de 1997, correspondiendole a
"El Titular" ejecutar el Plan y Cronograma de Inversiones incluidos en el Anexo
No 2 que se circunscribe a las concesiones mineras y de beneficio
senaladas en el Anexo No 1. Los Anexos mencionados, en adelante "EL RAMA",
forman parte integrante del presente contrato.
1.10 Por Recurso No 1 152487 de fecha 19 de Setiembre de 1997
"El Titular" de acuerdo con lo dispuesto por los Articulos 4o y 18o del Decreto
Supremo No 016-93-EM, solicito ante el Ministerio de Energia y Minas se le
otorgue la Garantia de Estabilidad Administrativa Ambiental, en relacion a "EL
PAMA".
1.11 El PAMA elaborado, entre sus objetivos establece acciones para
mitigar y prevenir el deterioro ambiental causado por las operaciones minero
metalurgicas de la Unidad Metalurgica LA OROYA, e incluye el cronograma de
ejecucion de las inversiones sobre las medidas a ejecutar para la mitigacion de
los impactos ambientales identificados.
CLAUSULA SEGUNDA - OBJETO DEL CONTRATO
El objeto del presente contrato es garantizar a "El Titular"
estabilidad administrativa ambiental para los trabajos de solucion de problemas
ambientales comprendidos en "EL PAMA" de tal forma que los posibles cambios en
las normas y niveles maximos permisibles, no los afecten negativamente durante
la vigencia del presente contrato.
CLAUSULA TERCERA.- VIGENCIA DEL CONTRATO
El presente Contrato entrara en vigencia en la fecha de su
suscripcion por las partes, debiendo culminar en el plazo de diez anos desde la
aprobacion del PAMA.
CLAUSULA CUARTA.- DE LAS GARANTIAS CONTRACTUALES.
4.1 Los niveles maximos permisibles son los determinados en el Anexo
No 2 de a Resolucion Ministerial No 011-96-EM/VMM y Resolucion
Ministerial No 315-96-EM/VMM los que se encuentran vigentes a la suscripcion
del presente contrato. Estos niveles no estaran sujetos a modificacion durante
el plazo de vigencia del contrato.
4.2 Quedara entendido que las referencias a leyes, decretos
legislativos, decretos leyes, decretos supremos y otras disposiciones legales en
el presente instrumento, han sido cumplidos de acuerdo con los textos existentes
a la fecha de la aprobacion de "EL PAMA"; y no interferiran, limitaran ni
reduciran los derechos de "El Titular" de gozar de todos los beneficios
dispuestos por la legislacion vigente en la fecha de aprobacion de "EL PAMA",
para cuyo efecto el presente contrato constituye una garantia; ni queda exento
de cumplir con las obligaciones establecidas en la legislacion vigente aplicable
en la fecha de aprobacion de "EL PAMA" o en otras disposiciones aprobadas
posteriormente siempre que las mismas no se opongan a las garantias otorgadas
por el presente.
CLAUSULA QUINTA.- OBLIGACIONES DEL TITULAR
"El Titular" esta obligado a realizar durante la vigencia de "EL
PAMA", el programa de monitoreo operacional, cuyos resultados debera reportar
al Ministerio de Energia y Minas en concordancia con las Resoluciones
Ministeriales Nos 0l1-96-EMIVMM y 315-96-EM/VMM.
CLAUSULA SEXTA.- DEL PAMA Y SU PLAZO DE EJECUCION
6.1 El plazo de ejecucion de "EL PAMA' es de diez anos, que vencera
el 13 de Enero del 2006.
6.2 El Plan de Inversiones incluido en EL RAMA' referido en el
Articulo 18o del Decreto Supremo No 016-93-EM. comprende en detalle las
obras y adquisiciones necesarias para la puesta en marcha de los proyectos.
6.3 Las metas, los principales controles ambientales, obras de
mitigacion ambiental y labores contenidas en el Plan de Inversiones de "EL PAMA"
figuran en el Anexo 2, que forma parte integrante del presente contrato.
CLAUSULA SEPTIMA.- DE LA MODIFICACION DEL PAMA
"EL PAMA", podra ser modificado en concordancia con lo especificado
en el Articulo 17o del Decreto Supremo No 016-93-EM
CLAUSULA OCTAVA.- DE LA TRANSFERENCIA O CESION
Este contrato podra ser objeto de cesion, adjudicacion, aporte u
otro modo de transferencia o adjudicacion, con consentimiento previo y expreso
del Estado. Para el consentimiento que otorgue el Estado, bastara la suscripcion
de la correspondiente minuta y escritura publica.
CLAUSULA NOVENA.- DEL CASO FORTUITO O FUERZA MAYOR.
En concordancia con el Articulo 1315o del Codigo Civil, si por
causas de caso fortuito o fuerza mayor, se impidiera cumplir o se demorase el
cumplimiento de las obligaciones previstas en la ejecucion de "EL PAMA", dicho
impedimento o demora no constituira incumplimiento del contrato y el plazo para
cualquier obligacion prevista en "EL PAMA" o en el presente instrumento, sera
extendido por el tiempo correspondiente al periodo o periodos durante los cuales
"El Titular" haya estado impedido de cumplir o haya demorado sus obligaciones
contractuales como consecuencia de las razones especificadas en la presente
clausula.
"El Titular" dara aviso en el dia que empezo el acontecimiento a la
Direccion General de Mineria, acreditando los hechos acompanado de un informe de
su auditor ambiental, dentro de los cinco dias siguientes al acontecimiento.
CLAUSULA DECIMA .- GASTOS
Todos los gastos relacionados con el perfeccionamiento e inscripcion
en el Registro Publico de Mineria de este contrato seran de cargo exclusivo de
"El Titular", incluyendo un juego del testimonio para la Direccion General de
Mineria y una copia simple para la Direccion General de Asuntos Ambientales.
CLAUSULA DECIMO PRIMERA.- RESOLUCION DEL CONTRATO
Es causal de resolucion del presente contrato, la omision de cumplir
con "EL PAMA" dentro del plazo senalado en el numeral 6.1 de la Clausula Sexta,
salvo por causas de fuerza mayor o caso fortuito.
CLAUSULA DECIMO SEGUNDA.- DOMICILIO
Para los efectos de este contrato y de toda notificacion judicial o
extrajudicial que se le dirija, el titular senala como su domicilio el que
figura en la introduccion de este instrumento. Todo cambio debera ser comunicado
a la Direccion General de Mineria a traves de Carta Notarial.
Agregue Usted Senor Notario las clausulas de Ley y pase los partes
respectivos al Registro Publico de Mineria para su inscripcion.
Firman las partes, en senal de expresa aceptacion del contenido de
los terminos y condiciones del presente contrato, por triplicado a los .17 dias
del mes de Octubre de 1997.
[ILLEGIBLE] [ILLEGIBLE]
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EL ESTADO EL TITULAR
Ing. JUAN MENDOZA M
Vice Ministro de Minas
ANEXO No 1
METALOROYA S.A.
CONCESIONES MINERAS
================================================================================
NOMBRE INSCRIPCION EN REGISTRO PUBLICO DE MINERIA
====================================================
FICHA ASIENTO
================================================================================
La Oroya - 1 11030 01
--------------------------------------------------------------------------------
La Oroya - 2 11031 01
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La Oroya - 3 11032 01
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La Oroya - 4 11033 01
--------------------------------------------------------------------------------
La Oroya - 5 11034 01
--------------------------------------------------------------------------------
La Oroya - 7 12333 01
--------------------------------------------------------------------------------
Cerro de Pasco Seis 11090 01
================================================================================
CONCESSIONES DE BENEFICIO
================================================================================
NOMBRE INSCRIPCION EN REGISTRO PUBLICO DE MINERIA
====================================================
FICHA ASIENTO
================================================================================
Complejo Metalurgico La Oroya
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Refineria 1 (Fundicion) 011135 001
--------------------------------------------------------------------------------
Refineria 2 (Refineria de
Cu y Pb)
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ANEXO No 2
CUADRO No 1
PLAN DE INVERSIONES
COMPLEJO METALURGICO DE LA OROYA (METALOROYA)
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PROYECTO METAS PRINCIPALES CONTROLES AMBIENTALES/OBRAS
DE MITIGACION
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Nuevas Plantas de Acido Sulfurico Fijar el SO(2) de las emisiones producto de Se instalaran 2 plantas de plantas de
las operaciones metalurgicas y alcanzar los acido sulfurico: Planta de acido de
niveles maximos permisibles la fundicion de Cu de 235,000 T/ano
Planta de acido de la fundicion de Pb
/ circuito de Zn de 270,000 T/ano
Resultados de la mitigacion:
Se fijara como minimo el 83% del SO(2)
generado Para el ingreso de 515 T/dia
(188,261 T/ano) de azufre se emitira
al medio ambiente 110 T/dia de So(2)
Respecto a la calidad de aire la
concentracion diaria de SO(2) estara
por debajo de 572 ug/m3 y la emision
de material particulado por debajo
de 100 mg/m(3) cumpliendo asi, lo
dispuesto en la R.M. No
315-96-EM//VMM.
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Planta de tratamiento de agua Tratar las soluciones acido ferrosas de la Proceso de predilucion, intercambio
madre de la Refineria de Cobre refineria de cobre que se descargan al rio ionico/electrowining (SX-EW),
Yauli y obener una solucion neutralizada neutralizacion
apta para reciclar y/o descartar previa
recuperacion del niquel y purificar la
solucion Raff para obtener un efluente
final con contenidos de impurezas por
debajo de los limites maximos permisibles
establecidos por el M.E.M.
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Muro de contencion para los lodos Instalar un muro de concreto para almacenar Recuperar las soluciones acidas y
de plomo en la Planta Zileret - los lodos de plomo descargados de la unidad recircularlas al circuito de
Division de zinc(*) de hidrometalurgia de la planta Zileret. lixiviacion acida de la unidad
hidrometalurgia.
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PROYECTO METAS PRINCIPALES CONTROLES
AMBIENTALES/ OBRAS DE MITIGACION
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Planta de tratamiento de Obtener un efluente hacia el rio Implementacion de una planta de
efluentes liquidos Industriales Mantaro con contenidos de tratamiento de efluentes, con
de fundicion y refineria - La elementos contaminantes segun capacidad de tratamiento de
Oroya los niveles maximos permisibles 9m^3/min. y un proceso de
(R.M. No 011-96-EM/VMM) para la neutralizacion y precipitacion
actividad minero - metalurgicos. con floculante. R.M. No
011-96-EM/VMM.
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Recirculacion del agua utilizada Eiminar la contaminacion del rio Utilizar las aguas de
en la Iranulacion de speiss del Mantaro por sustancias granulacion de speiss en
horno de Espumaje-Fundicion de contaminantes y solidos en circuito cerrado.
Plomo. suspension en las aguas de
granulacion de speiss.
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Nuevo sistema de lavado de anodos Eliminar la contaminacion del Optimizar el consumo de agua
- Refineria de Zinc rio Mantaro. mediante automatizacion del
lavado de anodos.
El volumen residual sera
tratado en la planta de
tratamiento de efluentes
liquidos industriales.
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Manejo y disposicion de las Eliminar la contaminacion del Se instalaran 2 desaguadores
escorias de cobre y plomo rio Mantaro por sustancias rotatorios tipo IBA, sistemas
contaminantes y solidos en nuevos de granulacion,
suspension en las aguas de recirculacion de agua de
granulacion de escorias de cobre granulacion y transporte.
y plomo Con esta implementacion se
elimina la evacuacion de las
aguas de granulacion y se
evitaran las perdidas de
escorias al rio Mantaro.
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Nuevo deposito de escorias de Preparar un nuevo deposito a 9 Minimizar la contaminacion
Cobre y Plomo (Cochabamba) Km. de La Oroya camino a hacia el rio Mantaro de acuerdo
Huancayo en la margen izquierda a las normas ambientales
del rio Mantaro. vigentes
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Nuevo Deposito de Trioxido de Construccion de un nuevo Consiste de un sistema
Arsenico deposito con tecnologia de compuesto de forrado de fondo
avanzada y que se ajuste a las de los depositos, una cubierta
normas de control ambiental. compuesta y un sistema de
deteccion y monitoreo de lixiviado,
disenados para controlar la
liberacion de contaminantes en el
medio ambiente y control del
potencial de exposicion del
publico.
La calidad de aire del medio
ambiente como del agua que
discurre al rio Mantaro, estaran
acorde a los niveles maximos
permisibles establecidos por el
Ministerio de Energia y Minas.
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[Illegible stamps] Van...
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PROYECTO METAS PRINCIPALES CONTROLES
AMBIENTALES/ OBRAS DE MITIGACION
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Tratamiento de aguas servidas y Ejecucion de obras, adquisicion Instalacion de dos plantas de
disposicion de basura en La Oroya. e instalacion de equipo para el tratamiento de aguas servidas,
tratamiento de aguas servidas y una en Chulec y la otra en
deposicion de basura de las Sudete para tener un efluente
zonas de vivienda dependiente de de solo 30ppm de DBO y 40 ppm
CENTROMIN PERU S.A. de solidos suspendidos.
Disponer de una planta de
disposicion final bajo las tecnicas
de un relleno sanitario eliminando
la contaminacion al rio Mantaro.
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[Illegible]
Nota:
(*) Inversiones consideradas en continuidad operativa y mejoras de proceso,
iniciadas por CENTROMIN PERU S.A., y seran continuadas por METALOROYA S.A.
[Illegible stamps]
ANEXO No 2
CUADRO No 2
CRONOGRAMA DE INVERSIONES DEL PROGRAMA DE ADECUACION Y MANEJO AMBIENTAL (PAMA)
COMPLEJO METALURGICO DE LA OROYA - METALOROYA S.A.
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No TOTAL
PROYECTOS Proy. 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Miles US$
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CIRCUITO DE COBRE:
Nueva Planta de Acido
Sulfurico 1 3,800 2,775 16,200 18,425 41,200
CIRCUITO DE PLOMO:
Nueva Planta de Acido
Sulfurico 1 22,500 22,500
CIRCUITO DE ZINC:
Nueva Planta de Acido
Sulfurico 1 26,300 26,300
EFLUENTES LIQ.
INDUSTRIALES:
Planta de tratamiento
de agua madre de la
Ref. De Cobre 5 500 500
Planta de tratamiento
de efluentes liquidos 8 1,000 500 1,000 2,500
Muro de contencion
para lodos de Pb. En
Planta Zilerel 9 5 5
Solucion Barren, Cadmio.
Recirculacion del agua
utiliazada en
granulacion de speiss
del 10 55 55
Horno de espumaje -
Fundicion de Plomo
Nuevo Sistema de lavado
de anodos - Refineria
de Zinc. 11 15 15
Manejo de Escorias -
Nuevo Sistema (Agua
Granul.) Escorias de
Cu/Pb. 12 650 2,362 2,288 1,200 6,500
Depositos
Nuevos (Cochabamba) 13 200 2,300 2,500
Trioxido de Arsenico
(As(2)O(3))-Depositos
Nuevos 14 450 550 1,000 2,000
Dosague/Basura 16 400 200 1,100 1,100 700 3,500
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TOTAL 2,700 3,612 4,963 3,300 3,000 3,800 2,775 38,700 44,725 107,675
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LSC/mpa
[Illegible]
NOTA:
En caso de que METALOROYA devuelva dentro de dos anlos, abonara a CENTROMIN PERU
S.A. US $ 7,2 Millones para su abandono lecnico.
El Gasta de 1997, en el Proyecto de ferritas estara a cargo de CENTROMIN;
consistira en obras de Estabilidad Geotecnica y obras de defensa Riberena
MINISTRY OF ENERGY AND MINES
Lima, October 21, 1997
Official Letter No. 1113-97-EM/DGM
Mr. Jorge Merino Tafur
General Manager
EMPRESA METALURGICA LA OROYA S. A.
(METALOROYA S. A.)
SUBJECT: Remittance of Environmental Administrative Stability Contract
Reference: Request No. 1152487, dated September 19, 1997
Attached please find the Environmental Administrative Stability Contract entered
into by and between the Peruvian State and Empresa Metal rgica La Oroya S. A.,
pursuant to Article 18 of the Regulations of Title Fifteen of the Single Revised
Text of the General Mining Law, approved by Supreme Decree No. 016-93-EM.
Sincerely yours,
Jorge Diaz
Director General
Mr. Notary:
Kindly enter in your Register of Public Deeds, the Environmental Administrative
Stability Contract entered into by and between the MINISTRY OF ENERGY AND MINES,
ON BEHALF OF THE PERUVIAN STATE, duly represented by the Vice Minister of Mines,
Mr. Juan Mendoza Marsano, identified by Voter's Registration Card No. 09179432,
authorized by Ministerial Resolution No.
292-97-EM/VMM, dated July 7, 1997; as party of the first part; and EMPRESA
METALURGICA LA OROYA S.A., THE TITLE-HOLDER OF THE MINING ACTIVITY, with Single
Taxpayer Registration No. 33526610, a company incorporated and existing in
keeping with the laws of the Republic of Peru, registered on Entry l of Filing
Card No. 040367 of the Book of Corporations of the Public Mining Registry,
domiciled at Av. Javier Prado Este No. 2175, San Borja, hereinafter referred to
as "The Title-holder", duly represented by Mr. Jorge Merino Tafur, identified
with Voter's Registration Card, No. 07341351, as per power of attorney that you
Mr. Notary will kindly insert herein, as party of the second part; under the
following terms and conditions:
CLAUSE ONE - BACKGROUND
1.1. The Standards for Environmental Protection established in the Code for
the Environment and Natural Resources, as well as those related to the
Mining-Metallurgic Activity contained in the General Mining Law and
Regulations thereunder approved by Supreme Decrees No. 016-93-EM, and
No. 059-93-EM, Ministerial Resolutions No. 011-96-EM/VMM and No.
315-96-EM/VMM, concordant with Decree Law No. 25763, its Regulations,
Supreme Decree No. 012-93-EM and amending provisions, Supreme Decrees
No. 036-93-EM and No. 058-93-EM, provide that the Ministry of Energy
and Mines is in charge of the establishment of the environmental
protection policy for the mining-metallurgic activity.
1.2. By means of Legislative Decree No. 674, dated September 25, 1991, the
Promotion of Private Investment in companies that make up the
Entrepreneurial Activity of the State, was declared to be of national
concern.
1.3. By means of Supreme Resolution No. 102-92-PCM, the agreement reached by
the Private Investment Promotion Commission (COPRI) approving the new
Private Investment Promotion Plan referred to in Legislative Decree No.
674, was ratified.
1.4. By means of Supreme Resolution No. 016-96-PC the agreement adopted by
COPRI approving the new Private Investment Promotion Plan as regards
CENTROMIN PERU S.A., was ratified.
1.5. By means of COPRI's agreement made at the meeting held on April 17,
1996, the incorporation of companies based on the operating units of
CENTROMIN pursuant to Article 10 of Legislative Decree No. 674, was
authorized.
1.6. Within the aforementioned context, Empresa Metalurgica La Oroya S. A.,
also METALOROYA S.A., was incorporated based on the La Oroya Production
Unit, whose shares are entirely a property of CENTROMIN and whose
business purpose is the exercise of all activities that pertain to the
mining-metallurgy industry.
-2-
1.7. CENTROMIN PERU S. A. will transfer to EMPRESA METALURGICA LA OROYA
S.A.-METALOROYA S.A., upon the signing of a stock transfer contract
between CENTROMIN PERU S. A. and DOE RUN PERU S. R. LTDA.--the Awardee
of the Contract of Bidding PRI-16-97-- the operations of the ex La
Oroya Production Unit. METALOROYA S. A. will assume the responsibility
for the environmental matters deriving from these operations, for the
mining and processing concessions that will be assigned to it.
1.8. By means of Directorial Resolution No. 017-97-EM/DGM, dated January 13,
1997, the General Mining Bureau approved the Environmental Adjustment
and Management Program (PAMA) of the La Oroya Operating Unit, whose
rescheduling was approved by Directorial Resolution No. 325-97-EM/DGM,
dated October 6, 1997.
1.9. CENTROMIN PERU S.A. by means of Request No. 1152485, dated September
19, 1997, requested the General Mining Bureau the division of the PAMA
of the La Oroya Production Unit, which was approved by means of
Directorial Resolution No. 334-97-EM/DGM, dated October 16, 1997. Due
to the aforesaid, The Title-holder will execute the Investment Plan and
Schedule included in Annex No. 2 which comprises the mining and
processing concessions indicated in Annex No. 1. The aforementioned
Annexes, hereinafter THE PAMA, form an integral part of this contract.
1.10. By means of Request No. 1152487, dated September 19, 1997, The
Title-holder, pursuant to the provisions set forth in Articles 4 and 18
of Supreme Decree No. 016-93-EM, requested the Ministry of Energy and
Mines the granting of Environmental Administrative Stability with
respect to THE PAMA.
1.11. THE PAMA, establishes among its objectives, actions to mitigate and
prevent the environmental damage caused by the mining-metallurgic
operations of the LA OROYA Metallurgic Unit, and includes a schedule
for the execution of the investments regarding the measures to be
carried out to mitigate the identified environmental impacts.
CLAUSE TWO - OBJECT
The object of this contract is to guarantee The Title-holder environmental
administrative stability as regards the works to solve the environmental
problems included in THE PAMA, so that any possible change in the standards or
in the permissible maximum levels will not affect them negatively during the
term of effect of this contract.
CLAUSE THREE - TERM OF EFFECT
-3-
This contract will go into effect on the date it is signed by the parties, and
it must terminate within the ten-year term counted as of the approval of THE
PAMA.
CLAUSE FOUR - CONTRACTUAL GUARANTIES
4.1 The maximum permissible levels are determined in Annex No. 2 of
Ministerial Resolution No. 011-96-EM/VMM and Ministerial Resolution No.
315-96-EM/VMM, which are in effect at the date of the signing of this
contract. These levels will not be subject to amendments during the
term of effect of the contract.
4.2 It is hereby understood that the laws, legislative decrees, decree
laws, supreme decrees and other legal provision referred to in this
document, have been complied with in accordance with the texts existing
as of the date of the approval of THE PAMA; and they will not interfere
with, limit or diminish the rigths of The Title-holder to enjoy the
benefits provided by prevailing legislation on the date of the approval
of THE PAMA, and the contract constitutes a guarantee to this end; nor
is it exempted from complying with the obligations established in the
applicable legislation in effect on the date of the approval of THE
PAMA on in other provisions approved afterwards provided they are not
contrary to the guaranties granted by means of this contract.
CLAUSE FIVE - OBLIGATIONS OF THE TITLE-HOLDER
The Title-holder is obliged to carry out, during the term of effect of THE PAMA,
an operational monitoring program, whose results must be reported to the
Ministry of Energy and Mines in keeping with the Ministerial Resolutions Nos.
011-96-EM/VMM and 315-96-EM/VMM.
CLAUSE SIX- THE PAMA AND ITS TERM OF EXECUTION
6.1 The term of execution of THE PAMA is ten years, and it will end on
January 13, 2006.
6.2 The Investment Plan included in THE PAMA referred to in Article 18 of
Supreme Decree No. 016-93-EM, comprises in detail the works and
acquisitions required for the start up of the projects.
6.3 The goals, main environmental controls, environmental mitigation works
and other tasks contained in the Investment Plan of THE PAMA appear on
Annex 2, which forms an integral part of this contract.
-4-
CLAUSE SEVEN - AMENDMENT OF THE PAMA
THE PAMA may be amended pursuant to the provisions set forth in Article 17 of
Supreme Decree No. 016-93-EM.
CLAUSE EIGHT - TRANSFER OR ASSIGNMENT
This contract may be assigned, awarded, contributed o transferred with prior and
express consent of the State. For the granting of the consent by the State, the
signing of a contract and of its corresponding public deed will suffice.
CLAUSE NINE - ACTS OF GOD OR FORCE MAJEURE
Pursuant to the provisions set forth in Article 1315 of the Civil Code, if an
Act of God or an event of Force Majeure would prevent compliance or would delay
compliance with the obligations established in THE PAMA, such impediment or
delay will not constitute non-compliance with the contract and the term of any
obligation established in THE PAMA or in this document, will be extended for the
time corresponding to the period or periods during which The Title-holder has
been prevented from, or delayed in fulfilling its contractual obligations as a
consequence of the reasons specified in this clause.
The Title-holder will give notice to the General Mining Bureau of the date the
event started, supporting the facts with a report made by its environmental
auditor, within five days following the event.
CLAUSE TEN - EXPENSES
All expenses related to perfecting this contract and registering it with the
Public Mining Registry will be borne exclusively by The Title-holder, including
a Testimony for the General Mining Bureau and a Copy for the General Bureau of
Environmental Affairs.
CLAUSE ELEVEN - RESCISSION
Non-compliance with THE PAMA within the term established in numeral 6.1 of
Clause Six hereof, except due to an Act of Gold or an event of Force Majeure,
shall cause the rescission of this contract.
-5-
CLAUSE TWELVE - DOMICILE
For the purposes of this contract and for any judicial or extra-judicial notices
addressed to him, the Title-holder hereby establishes as its domicile that which
appears in the introduction of this document. Any change will be informed to
the General Mining Bureau by means of a Notarial Letter.
Mr. Notary, kindly add the clauses required by Law and send the corresponding
reports to the Public Mining Registry for their registration.
Both parties sign three copies of this contract, to signal their express
acceptance of its content and of the terms and conditions of this document, on
October 17, 1997.
THE STATE
Mr. Juan Mendoza M.
Vice Minister of Mines
THE TITLE-HOLDER
ANNEX 1
METALOROYA S. A.
MINING CONCESSIONS
---------------------------------------------------------------------
Registration with the Public Mining Registry
---------------------------------------------------------------------
Name Filing Card No. Entry No.
--------------------------------- --------------------- -----------
La Oroya - 1 11030 01
--------------------------------- --------------------- -----------
La Oroya - 2 11031 01
--------------------------------- --------------------- -----------
La Oroya - 3 11032 01
--------------------------------- --------------------- -----------
La Oroya - 4 11033 01
--------------------------------- --------------------- -----------
La Oroya - 5 11034 01
--------------------------------- --------------------- -----------
La Oroya - 12333 01
--------------------------------- --------------------- -----------
Cerro de Pasco Seis 11090 01
--------------------------------- --------------------- -----------
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PROCESSING CONCESSIONS
---------------------------------------------------------------------
Registration with the Public Mining Registry
---------------------------------------------------------------------
Name Filing Card No. Entry No.
--------------------------------- --------------------- -----------
Complejo Metalurgico La Oroya
--------------------------------- --------------------- -----------
Refinery 1 (Smelter) 011135 001
--------------------------------- --------------------- -----------
Refinery 2
(Cu and Pb Refinery)
--------------------------------- --------------------- -----------
[Enlarge/Download Table]
ANNEX 2
SCHEDULE NO. 1
INVESTMENT PLAN
COMPLEJO METALURGICO DE LA OROYA (METALOROYA)
------------------------ ----------------------------------------- ------------------------------------------------------------
PROJECT GOALS MAIN ENVIRONMENTAL CONTROLS/MITIGATION WORK
------------------------ ----------------------------------------- ------------------------------------------------------------
New Sulfuric Acid Plants To set the level of the So2 for emissions 2 Sulfuric Acid Plants will be installed.
resulting from metallurgic operations and 1 Acid Plant at the Cu smelter: 235,000 T/year.
reach the maximum permissible levels 1 Acid Plant at the Pb smelter/Zn circuit: 270,000 T/year.
Mitigation results:
To set, as a minimum, 83% of the generated SO2.
For the entry of 515 T/day (188,261 T/year) of sulfur,
110 T/day of SO2 will be emitted into the environment.
As regards the quality of air, daily SO2 concentration
shall be below 572 ug/m3 and the emission of particles
below 100 mg/m3, in compliance with Ministerial
Resolution No. 315-96-EM/VMM
------------------------ ----------------------------------------- ------------------------------------------------------------
Bittern Water Treatment To treat acid ferrous solutions Predilution Process, ionic exchange/electrowinning
Plant of the Copper discharged into the Yauli river and obtain (SX-EW), neutralization.
Refinery a neutralized solution than can be recycled
and/or discard, prior the recovery of
nickel, and, purify the Raff solution to
obtain a final effluent with impurity
content below the maximum permissible
limits established by the Ministry Energy
and Mines.
------------------------ ----------------------------------------- ------------------------------------------------------------
-7-
------------------------ ----------------------------------------- ------------------------------------------------------------
Containment Wall for To install a concrete wall to store To recover acid solutions and recirculate them to the acid
lead sludges at the the lead sludges discharged from leaching circuit of the hydro-metallurgy unit.
Zileret Plant, Zinc the hydro-metallurgy unit of the
Division (*) Zileret Plant.
------------------------ ----------------------------------------- ------------------------------------------------------------
Treatment Plant of To obtain an effluent to the Mantaro To implement an effluent treatment plant, with a treatment
industrial liquid river with polluting contents as per capacity of 9 m3/min., and a neutralization process and
effluents from the La the maximum permissible levels precipitation with flocculant. Ministerial Resolution
Oroya smelter and the (Ministerial Resolution No. No.011-96-EM/VMM.
refinery. 011-96-EM/VMM) for the mining-metallurgy
activity.
------------------------ ----------------------------------------- ------------------------------------------------------------
Recirculation of water To eliminate the contamination of the To use the speiss granulation water in a short circuit.
used in the granulation Mantaro river, by contaminating
of speiss in the furnace- elements and solids in suspension in
Lead Smelter the water used for the granulation of
speiss.
------------------------ ----------------------------------------- ------------------------------------------------------------
New system for the To eliminate the contamination of the To optimize the consumption of water by the automation
washing of anodes - Mantaro River. of the anode washing. The residual volume will be
Zinc Refinery treated at the treatment plant for industrial liquid
effluents.
------------------------ ----------------------------------------- ------------------------------------------------------------
Handling and disposal of To eliminate the contamination of the 2 rotary dewatering IBA type systems will be installed,
copper and lead slag. Mantaro river by pollutants and solids new granulation systems, and the recirculation of
in suspension in the water used for the granulation water and transport. With the aforesaid the
granulation of copper and lead slag. discharge of the granulation water will be eliminated
and the loss of slag into the Mantaro river will be
avoided.
------------------------ ----------------------------------------- ------------------------------------------------------------
New Copper and Lead slag To prepare a new deposit, 9 Km. from To minimize the contamination of the Mantaro River, as per
deposit (Cochabamba) La Oroya towards Huancayo, on the left prevailing environmental standards.
margin of the Mantaro River
------------------------ ----------------------------------------- ------------------------------------------------------------
New Arsenic Trioxide To construct a new deposit with The lining of the bottom of the deposits, a composed
Deposit advanced technology adjusted to cover and a detection and monitoring system for the
environmental control standards. leaching, designed to control the emission of pollutants
into the environment and the potential exposure for the
people. The quality of environmental air and of the water
that runs into the Mantaro river will be in keeping with
the maximum permissible levels established by the Ministry
of Energy and Mines
------------------------ ----------------------------------------- ------------------------------------------------------------
Treatment of Sewage Execution of works, acquisition and Installation of two sewage water treatment plant, one in
Water and Garbage installation of equipment for the Chulec and the other one in Sudete, to obtain an effluent
Disposal in La Oroya. treatment of sewage water and disposal with only 30 ppm of DBO and 40 ppm of suspended solids.
of garbage originated from the housing To have a final disposal plant using sanitary filling
areas of CENTROMIN PERU S.A. techniques, eliminating the contamination to the
Mantaro River.
------------------------ ----------------------------------------- ------------------------------------------------------------
Note
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|---|
(*) Investments considered for operating continuity and process improvement,
started by CENTROMIN PERU S.A. will be continued by METALOROYA S. A.
[Enlarge/Download Table]
ANNEX 2
SCHEDULE NO. 2
SCHEDULE FOR THE ENVIRONMENTAL ADJUSTMENT AND MANAGEMENT PROGRAM (PAMA)
COMPLEJO METALURGICO DE LA OROYA - METALOROYA S. A.
Projects Project
No. 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Total
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
COPPER CIRCUIT:
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
New Sulfuric Acid Plant 1 3,800 2,775 16,200 18,425 41,200
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
LEAD CIRCUIT
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
New Sulfuric Acid Plant 1 22,500 22,500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
ZINC CIRCUIT:
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
New Sulfuric Acid Plant 1 26,300 26,300
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
INDUSTRIAL LIQUID EFFLUENTS
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Bittern Water Treatment Plant-Cu Refinery 5 500 500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Liquid Effluent Treatment Plant 8 1,000 500 1,000 2,500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Containment Wall for Pb Sludges-
Zileret Plant (*) 9 5 5
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Barren Solution, Cadmium
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Recirculation of water used in the
granulation of speiss of the Furnace-
Lead Refinery 10 55 55
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
New Anode Washing System-Zinc Refinery 11 15 15
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Slag Handling-New Cu/Pb Slag System
(Granulation water) 12 650 2,362 2,288 1,200 6,500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
New deposits (Cochabamba) 13 200 2,300 2,500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Arsenic Trioxide (As2O3)- New Deposits 14 450 550 1,000 2,000
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Sewage water/Garbage 16 400 200 1,100 1,100 700 3,500
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
Total 2,700 3,612 4,963 3,300 3,000 3,800 2,775 38,700 44,725 107,575
----------------------------------------- ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ --------
(*) NOTE:
In the event that METALOROYA S. A. returns it within two years, it shall pay
CENTROMIN PERU S.A., US$7.2 million for its technical abandonment.
1997 Expense, in the Ferrite Project will be on the account of CENTROMIN,
comprising Geotechnical Stability works and Riverbank Defense works.
-9-
Dates Referenced Herein
| Referenced-On Page |
|---|
| This ‘S-4’ Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| | 1/13/06 | | 15 | | | | | None on these Dates |
| Filed on: | | 5/11/98 |
| | 10/21/97 | | 12 |
| | 10/17/97 | | 17 |
| | 10/16/97 | | 14 |
| | 10/6/97 | | 14 |
| | 9/19/97 | | 12 | | 14 |
| | 7/7/97 | | 13 |
| | 1/13/97 | | 14 |
| | 4/17/96 | | 13 |
| List all Filings |
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