Press Release

Mining division of Sacyr signs collaboration agreement with Macquarie Capital

London, 15 January 2015

Valoriza Minería, a wholly-owned subsidiary of Sacyr SA specialising in managing mining projects, and Macquarie Capital (Macquarie), the corporate advisory, principal investment and capital markets arm of Macquarie Group, have signed a collaboration agreement to evaluate and finance mining projects in Spain.

Under the terms of the agreement Valoriza Minería and Macquarie will jointly pursue advanced stage and producing mining projects throughout Spain, collaborating to fund acquisitions and development, through principal investment and introducing third party investors. Valoriza Minería and Macquarie will focus on commodities prevalent in Spain including copper, gold and tungsten.

The agreement will leverage the individual strengths of the two organisations. Valoriza Minería, backed by the Sacyr Group, brings leading technical and administrative expertise in managing and executing mining contracts in Spain, from early stage exploration through to construction and operation of mining projects and associated infrastructure. Following two years of research, Valoriza Minería boasts an extensive pipeline of projects involving copper, gold, tin and wolfram, making major investment likely over the coming years.

Macquarie brings over 30 years experience in natural resources and has one of the largest specialist metals and mining corporate finance teams in the world. Macquarie will deploy this expertise to evaluate and provide strategic advice on the acquisition and development of mining projects, utilising its knowledge in financing and structuring as well as its strong network of global investors.

Raj Khatri, Head of Metals and Mining, Macquarie Capital Europe said: “We are pleased to collaborate with Valoriza Minería and Sacyr. We see significant opportunities in the Spanish mining space, which has had a long history of mineral extraction, significant resource in the ground and good infrastructure. The partnership between Valoriza Minería and Macquarie presents a unique opportunity in unlocking value.”

For Gonzalo García San Miguel, head of Valoriza Minería, “The agreement with Macquarie Capital represents an extraordinary boost to Sacyr’s plans within the Spanish mining industry, where there are many high value projects to be undertaken with the potential to generate major wealth and employment in Spain. This partnership also represents an extraordinary opportunity to collaborate with developers who, for financial or technical reasons, have been unable to develop their research permits or mining concessions”.

About Valoriza Minería

Valoriza Mineria boasts the support and know-how of the Sacyr group, encompassing such companies as Cavosa, which has vast experience in mining projects (open-pit mines, quarries, aggregate treatment, geology and mining research, etc.); Sacyr Construcción is an expert in all manner of projects related to road, rail, water, airport and seaport infrastructures; Valoriza Agua has an excellent track record in projects involving water treatment, desalination and engineering; and Sacyr Industrial, with capacity to design processing plants.

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