About

According to sources, Nicolai Bakovic and his legal team at the state owned Chilean copper mining company Codelco ‘successfully develop effective solutions and prevent legal risks in the Chilean mining industry and seamlessly handle regulatory issues’. Bakovic has been cited as a ‘very efficient’ general counsel who is capable of managing a broad range of issues. One nominator states: ‘The quality of analysis is excellent, the work produced is detailed, practical and of very good quality. He also demonstrates corporate perspective and an ability to provide legal solutions that make the difference’. The exceptional abilities of one corporate lawyer, however, are not enough to deliver the standard of quality and wide breadth of legal advice that Codelco’s legal department has long been famed for. An outstanding team of in-house professionals works diligently alongside its leader to deliver tailored legal support to every facet of Codelco’s business in Chile. Francisca Dominguez, for instance, is an outstanding lawyer, well recognised in the Chilean market for her deep knowledge in regulatory matters, specifically environmental law. She was formally in charge of the regulatory and environmental department at Codelco, prior to being promoted to deputy general counsel in mid-2017. Senior counsel Diego Brieba – another outstanding professional within the team, receives praise for his ‘extensive experience in mining law, corporate law and joint ventures’, having participated in all recent deals with Codelco’s JV partners. Brieba is the first point of contact for all refinancing and bond operations and is in charge for the company’s lithium project in northern Chile. Also highlighted in this year’s research is legal counsel Javiera Estrada – the team’s leading lawyer in Public and Administrative law who is in charge of the relationship with supervisory bodies (Cochilco and Comptroller). Currently comprised of eight attorneys, two assistants and a paralegal, working at the company’s headquarters in Santiago (in addition to many more lawyers working across the company’s divisions) the team’s offering has grown both in scope and quality. In addition to recruiting several attorneys with experience and specialisation in labour law, litigation, administrative and regulatory matters, to bolster Codelco’s in-house practice, the department has streamlined operations with the introduction of new technology. ‘We have implemented systems to allow for a shared storage and access of legal documents across Divisions, allowing for an easier review of precedents,’ states Bakovic. ‘This has significantly improved our delivery time to our internal clients’. The team’s improved efficiency has already been made visible in transactional and project work undertaken over the last two years. Sources have highlighted, for instance, the department’s recent participation in a host of collective bargaining negotiations with a number of labour unions across Codelco’s operating assets – one example of the lawyer’s ability to resolve challenges quickly and effectively. In another instance, the team has impressed with the diligence of its work on refinancing corporate debt by way of the largest issuance of bonds in Chilean history (worth $2.75bn) and becoming the first ever Chilean issuer to refinance corporate debt in Taiwan by way of Formosa Bonds. Other example showcasing the team’s superior expertise include, among others; implementing standards to increase the capacity of Codelco’s refineries, successfully obtaining environmental authorization to carry out the development of a seawater desalination and conducting intense negotiations with the State of Ecuador to bring to fruition the Llurimagua mine and supporting a lithium project from brine located in a northern salt flat.