Maximiliano Urrutia
Associatemurrutia@carey.cl
+56 2 2928 2205
His practice is mainly focused on natural resources, mining and energy.
REPRESENTATIVE EXPERIENCE
- Marimaca on corporate, regulatory, environmental, mining and main supplies matters for the implementation of its copper project Marimaca in the Antofagasta Region.
- CAP on an investment of approx. USD32 million to acquire 20% of REE Uno, a Chilean company owned by Aclara Resources, which is developing a project to exploit rare earths from ionic sands in the Biobío Region. Aclara is a Canadian company that trades on the Toronto Stock Exchange.
- Codelco on the issuance and sale of securities for an aggregate of USD2 billion, under regulation 144A/Reg S of the United States, consisting in a new issuance of USD1.5 billion, with an interest rate of 6.44% and maturity in 2036, and the reopening of its existing notes for USD500 million, due in 2053, with an interest rate of 6.3%. This transaction included the participation of BofA Securities, Citigroup Global Markets, J.P. Morgan Securities and Santander US Capital Markets, as initial purchasers.
- Codelco on the acquisition of 100% of share capital of Lithium Power International (LPI), a company listed in the Australia Stock Exchange (ASX) by way of a Scheme of Arrangement. LPI owns, through its subsidiary Minera Salar Blanco, the "Blanco Project", adjacent to Codelco's mining tenements in the Maricunga Salt Flat. Previously, on the implementation of such project, specifically regarding potential partners in the area and surface easements.
- Capstone Mining, a Canadian based company, on a USD3.3 billion joint venture with Mantos Copper. Capstone’s shareholders acquired a 60.2% stake in the new mining company, which operates as Capstone Copper. Mantos’ shareholders acquired the remaining minority interest. Capstone Copper operates the Chilean mining projects Mantoverde, Mantos Copper and Santo Domingo.
- Teck Resources and its subsidiary Teck Resources Chile on a joint venture with Sumitomo for the acquisition of 30% of Compañía Minera Quebrada Blanca for USD1.2 billion, for the development and construction of Quebrada Blanca Phase II project.
- Osisko Gold Royalties on the purchase of a precious metal portfolio from Orion Mine Finance Group, U.S. private equity firm, for USD895 million. The acquisition included a silver stream on the Mantos Blancos copper mine located in Antofagasta, Chile, operated by Mantos Copper.
AWARDS AND RECOGNITIONS
- Recognized in Energy and Natural Resources: Mining, Chambers Latin America.
- Recognized in Mining, Legal 500.
PUBLICATIONS
- Co-author of the Chilean chapter of the guide "Practice Guide Mining", Lexology Getting the Deal Through (2019, 2021, 2022).
- Co-author of the chapter "Regulated Industries: Mining”, Doing Business in Chile, 3rd edition, British Chilean Chamber (2017).
- Co-author of "Chile: An Introduction", Energy & Natural Resources: Mining, Chambers & Partners Latin America (2015).
- Co-author of "Mining in Chile: Overview", Country Q&A, Practical Law (2014).
RELATED AREAS
EDUCATION
- Law, Universidad Católica de Chile.
- Master in Energy and Resources Law, The University of Melbourne, Australia (2019).
ADMISSIONS
- Chile (2013).
LANGUAGES
- Spanish.
- English.
