Sneak Preview: Mergers & Acquisitions in Mining Tech with Ivan Gustavino
In this sneak preview, Ax Legal’s Managing Partner Cody McFarlane speaks with Ivan Gustavino, Managing Director at Atrico, who has advised over 100 high-growth companies in mining, industrial tech, and software. With M&A activity heating up, Ivan breaks down what investors and buyers really look for in mining technology companies today.
Chile is one of the most attractive markets in Latin America for mining and industrial technology companies. It is also a market where small operational mistakes can create real delays. On paper, entry is simple. In practice, what matters is how you set up and run the business from day one. Here is what actually makes a difference.
Chile’s mining sector is starting to build real momentum again. In the past few weeks, the two largest projects submitted to Chile’s Environmental Assessment Service (SEA) since at least 1992 have been filed: a US$7.5 billion expansion by Freeport-McMoRan and a US$5.1 billion project from BHP.
Peru continues to position itself as one of the most important mining jurisdictions globally, particularly in copper. A clear example of this is the progress of the Trapiche project, a large-scale copper development that has recently cleared a key regulatory milestone and forms part of the country’s next wave of copper supply.
Peru offers significant opportunities for companies operating in the mining sector and related industries. However, the country also has a labour framework that includes several statutory employee benefits, including mandatory profit sharing—an obligation that is not commonly found in jurisdictions such as Australia, Canada, or the United States.
Mining in Chile often centers on the largest players, but medium-sized operations are just as critical — and operate under tighter margins and capital constraints. In this segment, improvements in water efficiency, recovery, or asset availability are not incremental upgrades; they are strategic drivers of competitiveness. A November 2025 study provides a practical roadmap showing where the right technologies can make a measurable impact.
Brazil’s mining sector is entering a new investment cycle that is both larger and more diversified than in previous periods. According to IBRAM’s latest outlook, total projected investments for the 2026–2030 period are expected to reach US$76.9 billion, representing a 12.5% increase compared to the previous investment cycle (2025–2029).
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