Carey advised Teck on expanding its control over Chilean mine

Carey acted for Teck Resources on the $52.5 million acquisition of an additional 13.5% participation in Quebrada Blanca.

Teck Resources is Canada’s largest diversified resources company. It is based in Vancouver and focuses on coal, copper and zinc. The seller of the minority stake, Inversiones Mineras, is a private Chilean company, part of the Hurtado group.

The Quebrada Blanca mine is is an open pit operation located in northern Chile, 1,500 kilometres from Santiago. With this deal, Teck will own 90% of Quebrada Blanca. ENAMI (Empresa Nacional de Minería), a Chilean state-owned company, keeps the remaining 10 percent.

Teck Resources instructed a team at Carey led by partners Rafael Vergara, Cristián Eyzaguirre and Francisco Guzmán. 

Alcaíno Abogados acted for Inversiones Mineras, with partners Alfredo Alcaíno and Victoria Ripoll in leading roles.