Cleary Gottlieb advised long-time client Corporación Nacional del Cobre de Chile (CODELCO) in a strategic joint venture with Anglo American Sur S.A. (Anglo American) to establish a framework to coordinate and optimize the operations of their respective independent copper mines, Andina and Los Bronces.
The transaction also created and expanded several easements to facilitate both parties’ operations. The transaction, which closed on June 11, 2019, will allow the parties to more effectively capture the value of the mines, extend the life of the mines, and avoid interferences with or duplication of each other’s activities.
CODELCO is a Chilean state-owned company that is the world’s largest copper producer.