Guerrero Olivos advises CODELCO on exploration deal with BHP for Anillo Project
Guerrero Olivos has represented Corporación Nacional del Cobre de Chile (CODELCO) in the negotiation of a strategic agreement with BHP, granting BHP the right to explore mining concessions owned by the Chilean state-owned company. The agreement establishes that, should BHP meet a series of minimum investment requirements, both parties will proceed to form a joint venture to jointly develop the Anillo Project.
The transaction, closed on May 12, 2025, involved a high level of complexity due to CODELCO’s status as a state-owned company of the Republic of Chile, which subjects it to special legal and regulatory frameworks for approving agreements of this nature.
The Guerrero Olivos team was led by partner María Paz Pulgar (pictured), with the support of partners Juan Enrique Allard and Alejandro Chechilnitzky. Key support was also provided by senior associates Francisca Martínez and Juan José García, as well as associates Domingo Larraín and Joaquín Valenzuela.
Cariola Díez Pérez-Cotapos advised BHP in the transaction.
