International Mining and Oil & Gas Law, Development, and Investment

  • Quito, Ecuador
  • Apr. 26-28, 2017
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General Session: Wednesday Morning

Registration

  1. Stevia M. Walther

    Rocky Mountain Mineral Law Foundation, Westminster, CO
  2. Jonathan A. Hunter

    Partner Jones Walker LLP, New Orleans, LA
  3. Eugene E. Smary

    IBA-SEERIL; Warner Norcross & Judd LLP, Grand Rapids, MI
  4. Ignacio J. Randle

    Partner Estudio Randle, Buenos Aires, Argentina

Introductions

  1. José Carlos Ugaz

    Chairman, Transparency International, Lima, Peru

Keynote Address

  1. José Carlos Ugaz

    Chairman, Transparency International, Lima, Peru
  2. Joshua A. Jantzi

    Dentons, Calgary, AB
  3. David L. Deisley

    Executive Vice President and General Counsel NovaGold Resources Inc., Salt Lake City, UT
  4. Stuart M. Olley

    Partner, Gowling WLG, Calgary, AB

New Resource Revenue Transparency Legislation: An Emerging Global Consensus

A diverse panel of experts will discuss recent developments in resource extraction disclosure legislation and the emerging global consensus to increase transparency. The speakers will focus on practical considerations for reporting companies in the resource extraction sector and solutions for navigating these challenges, including critical insights on how the information reported is analyzed and used.

  1. Michael Cullen

    Control Risks, Bogotá, Colombia
  2. Cynthia Urda Kassis

    Partner Shearman & Sterling LLP, New York
  3. Danforth Newcomb

    Shearman & Sterling LLP, New York, New York
  4. Manuel A. Orillac

    Partner, Shearman & Sterling LLP, New York, New York

Advising Clients Doing Business During a Corruption Investigation—A Simulation and Review of Ethical Considerations

What are the risks when entering a major business transaction with an entity involved in an ongoing multi-jurisdictional corruption investigation, and what tools are available to mitigate those risks? What ethical issues may be encountered by counsel advising the various participants? The format will be a simulation of a not entirely hypothetical set of facts as viewed through the lens of different participants in the proposed transaction. The simulation will highlight inherent conflicts of interest, confidentiality, and legal privilege concerns, and will examine and discuss the considerations and potential actions that can be taken. Reference will be made to the ABA Model Rules.

Lunch - On Your Own

Wednesday Afternoon

  1. Jorge Paz Durini

    Paz Horowitz, Quito, Ecuador
  2. Robert J.C. Deane

    Borden Ladner Gervais LLP, Vancouver. BC
  3. Mark W. Friedman

    Partner, Debevoise & Plimpton, New York
  4. Luis A. Erize

    Abeledo Gottheil Abogados, Buenos Aires, Argentina

BITs in the Background

Bilateral investment treaties, or BITs, offer important legal protections to foreign investors in the resource sector, but are generally perceived as a tool of last resort. Launching legal proceedings carries significant risks and costs for claimant investors, and may foreclose other investment opportunities in the respondent State. What other benefits do BITs offer foreign investors in the resource sector? How do BITs change the dynamics of negotiations, operations, and the relationship with the State? How can miners effectively wield the right to make a treaty-based claim, and how do States typically work to manage this risk?

  1. Christina L. Beharry

    Foley Hoag, Washington, DC
  2. Carla Chavich

    Compass Lexecon, New York, New York
  3. Daniel Flores

    Economist and Managing Director Managing Director, Econ One Research, Inc., Washington, DC

Valuing Natural Resource Projects in International Investment Arbitration

International investment tribunals have traditionally displayed reluctance to value a project without a history of operations based on future lost profits. In more recent cases, however, damages have been increasingly awarded on this basis. Tribunals have adopted a myriad of valuation methods to value mining projects ranging from discounted cash flow analyses (Gold Reserve v. Venezuela) to comparables (Crystallex v. Venezuela) to offers to purchase (Khan Resources v. Mongolia). This panel will discuss questions such as: what valuation methods should be used in investment disputes, how well equipped are tribunals to address issues of valuation, and what can be done to fix information gaps and asymmetries? The relevance of these issues is all the more important given the numerous high-profile mining and oil & gas cases currently in the pipeline.

Hosted Refreshment Break

  1. Pedro Freitas

    Partner Veirano Advogados, Rio de Janeiro
  2. James A. Holtkamp

    Holland & Hart, Salt Lake City, UT
  3. LES E. LO BAUGH, JR.

    E Cubed Optimizers, LLC, Murrieta CA

Climate Change—Advising Natural Resources Industry Clients

What do lawyers need to know when counseling mining and oil & gas company clients about the practical implications of climate change? From climate-related lawsuits to consequences of inadequate climate change-related disclosures in SEC filings to the impacts of the Paris Agreement, companies face a climate change regulatory environment that is in flux. This session will focus on the climate change regulatory and policy challenges faced by natural resource companies, including direct limitations on greenhouse gas emissions, reporting potential liabilities from extreme weather events and other climate-change related occurrences, reconfiguring transportation and supply chain systems, realigning energy generation and transmission to accommodate low-carbon and renewable energy projects, changes required by consumers of natural resources, and inclusion of climate change impacts in pre-approval environmental review and public participation processes for natural resources projects.

  1. Stuart R. Butzier

    Shareholder Modrall Sperling, Santa Fe, NM
  2. Nicolas Castellano Gard

    Castellano Carlevaro Asociados, Montevideo, Uruguay
  3. Maria Paz Cerda

    AES Gener S.A., Santiago
  4. TIAGO K. FIGUEIRO

    Veirano Advogados, São Paulo, Brazil
  5. Alejandro M. Massot

    Partner Estudio Randle, Buenos Aires, Argentina

The New Frontier for Energy Generation: Challenges and Opportunities of Renewables in Latin America and the Impact on Resource Projects

The 21st century brought with it a new revolution that will continue to impact human beings and the environment on a daily basis:  the green revolution. This revolution has impacted energy-generation activities more heavily than in other areas, and all around the globe countries are researching and implementing renewable sources for energy generation. Latin America is no stranger to this trend and many jurisdictions have established goals and incentives for the design, construction, and operation of renewable energy generation alternatives. The mining and oil & gas industries are adjusting to these new requirements under increasing pressure from public opinion, investors, and governments. This presentation will analyze the regulatory frameworks of Argentina, Brazil, Chile, and Uruguay; the impact of foreign and multilateral regulations and policies affecting investors in the resources industries; the practical results so far; and the challenges ahead.

Hosted Reception for Registrants, Speakers, and Guests

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Split Section: Mining - Thursday Morning

  1. Michael J. Bourassa

    Partner Fasken Martineau, Toronto, ON
  2. Javier Cordova Unda

    Minister of Mines, Republic of Ecuador, Quito, Ecuador
  3. Rodrigo Borja Callisto

    Lexim Abogados, Quito, Ecuador
  4. Jeronimo Carcelen Pacheco

    Partner Carcelén, Desmadryl, Guzmán & Tapia, Santiago, Chile / Dechert LLP, Washington, DC
  5. Ron Hochstein

    Lundin Gold Inc., Quito, Ecuador and Vancouver, BC
  6. Pablo Mir

    Partner Bofill Mir and Alvarez Jana, Santiago, Chile

Fruta del Norte & the Evolution of Ecuadorian Mining Law

Fruta del Norte is one of the largest undeveloped gold deposits discovered in the last 10 years. This presentation will review how Ecuadorian mining policy and regulations impact project development, and will address recent government initiatives for attracting foreign mining investment. What challenges have there been for developing, financing, building, and operating the first large-scale gold mining operation in Ecuador?

  1. Patricia Nunez

    Partner Nunez, Munoz & Cia Ltda., Abogados, Santiago, Chile
  2. William B. Prince

    President, Rocky Mountain Mineral Law Foundation Dorsey & Whitney LLP, Salt Lake City, UT
  3. Bernard J. Guarnera

    Behre Dolbear, Denver

Understanding the SEC’s Proposed New Mining Disclosure Rules

The U.S. Securities and Exchange Commission recently released the long-awaited Federal Register version of its proposed rule to update disclosure requirements for mining registrants in Item 102 of Regulation S-K under the Securities Act of 1933, the Securities Exchange Act of 1934, and related guidance in Industry Guide 7. The proposed rule is intended, according to SEC Chair Mary Jo White, “to modernize the disclosure requirements by aligning them with global standards and give investors more comprehensive information of a registrant’s mining properties that they can use to make informed investment decisions.“ This session will assess the practical implications of the rule.

Hosted Refreshment Break

  1. Peter L. Webster

    Barrick, Salt Lake City
  2. R. Craig Johnson

    Parsons Behle, Salt Lake City
  3. Carlos Vilhena

    Partner Pinheiro Neto Advogados, Brasilia, Brazil

Use of Rocky Mountain Mineral Law Foundation’s Form 5 in Civil Law Jurisdictions—What to Watch Out For

Common law and civil code jurisdictions deal with rights and obligations under a contract in significantly different ways. This presentation will review Form 5 and identify clauses that may be pitfalls in civil law jurisdictions and how they can be “civilianized.”

Lunch - On Your Own

Split Section: Oil & Gas - Thursday Morning

  1. Pedro H. Serrano Espelta

    Marval, O’Farrell & Mairal, Buenos Aires, Argentina
  2. Vera DE Brito de Gyarfas

    Partner King & Spalding LLP, Houston, TX

Structuring LNG to Power Projects in Latin America

LNG is an increasingly important source of energy in Latin America. This session will analyze the relevant contracts and related legal issues, the commercial benefits of low natural gas prices from U.S. LNG exports, the structuring requirements of an import terminal—onshore or floating—and the requirements of legal agreements to ensure the successful implementation of a bankable LNG to power project.

  1. XENNIA FORNO

    Rubio Leguia Normand, Lima
  2. Jessica Richards

    Western State Colorado University, Gunnison, CO

Oil & Gas Development in a Global Perspective—Social License to Operate in Host Communities

The need for securing a “social license to operate” (SLO) in the extractive industries has experienced a mixed reception. While the mining industry embraced the concept years ago, the oil & gas sector is coming to embrace it today. This presentation will focus on how the concept has been received in the oil & gas industry, with emphasis on the developing world. Despite years of trying to be better “corporate citizens” and adopting various corporate social responsibility strategies, many oil & gas companies find themselves deeply unpopular where they operate. This presentation will define SLO, consider the differing receptions in the mining and oil & gas sectors, discuss the “elements” of SLO in the oil & gas sector, provide case studies of where it has (and has not) been achieved, and propose a strategy for integrating SLO into the oil & gas industry.

Hosted Refreshment Break

  1. Rafael Vergara

    Partner Carey y Cia Ltda., Santiago, Chile
  2. German Villamil-Pardo

    Gómez-Pinzón Zuleta Abogados S.A.S. Bogotá, Colombia

How Recent Judicial Decisions from the High Courts Impact Oil & Gas Activities

Recent judicial decisions adopted by the highest courts concerning environmental matters and social consultation are raising concerns in the oil & gas industry as they bring uncertainty about the ability to perform contracts and licenses originally negotiated with governments. These decisions also impact corporate business models and budgets, and this presentation will cover these issues across Latin America.

Lunch - On Your Own

Split Section: Mining - Thursday Afternoon

  1. Florencia Heredia

    Senior Partner Allende & Brea, Buenos Aires, Argentina
  2. Warren Beech

    Partner, Hogan Lovells, Johannesburg, South Africa
  3. Francisco J. Valdivieso

    Valdivieso, Gutiérrez & Manríquez, Santiago, Chile

Potential for Shared Infrastructure in the Mining Sector—What Lawyers Should Know

Significant potential exists for shared infrastructure (rail, port, water, power) in the mining sector, with the advantage of reduction in capital cost investment for developers, benefits to indigenous business (agriculture, small manufacturing), and the possibility of allowing otherwise “stranded resources” to be developed. This presentation will review recent examples in Africa, Australia, and elsewhere, and discuss the legal issues pertaining to shared infrastructure transactions.

Hosted Refreshment Break

  1. Juan Paulo Bambach

    Philippi Prietocarrizosa Ferrero DU & Uria, Santiago, Chile
  2. Sandra Manrique

    Philippi Prietocarrizosa Ferrero DU & Uria, Bogotá, Colombia
  3. Maria Paz Pulgar

    Philippi Prietocarrizosa Ferrero DU & Uria, Santiago
  4. Hernan Torres

    Philippi Prietocarrizosa Ferrero DU & Uria, Lima, Peru
  5. Adriano D. Trindade

    Pinheiro Neto Advogados, Brasilia, Brazil

Enforceability of Royalties Under Latin American Legislation

For decades, royalties have been used in mining transactions in Latin America. However, civil law does not recognize royalties as right in rem, but only as right in personae. The legal nature of royalties under civil law must be understood in order to determine enforceability. Royalties will be enforced where the goods are located, and therefore under local legislation. Focusing on Chile, Colombia, and Peru, this presentation will address the origin and legal nature of royalties, applicable laws and regulations, consequences of conflicting legal systems, local enforceability, and recommendations for obtaining an enforceable royalty.

  1. Paul Fornazzari

    Fasken Martineau DuMoulin LLP, Toronto, ON
  2. Fernando Aguirre B.

    Senior Partner Bufete Aguirre, La Paz, Bolivia
  3. PAMELA BÓRQUEZ ASTUDILLO

    Legal Subdivision Coordinator, CORFO, Santiago, Chile
  4. Ignacio H. Celorrio

    Quevedo Abogados, Buenos Aires, Argentina
  5. TERRY HAMMONS

    Albermarle Corporation, Charlotte, NC

The Rise of Brine: Exploration and Development Challenges in the Lithium Triangle - Argentina, Bolivia, and Chile

The latest hike in lithium products prices, due to prospective demand from Tesla and similar manufacturers, has created a flow of investment and speculation in the "lithium triangle" that comprises Chilean, Bolivian, and Argentinean territories. Regulatory challenges arising from issues such as sustainable development, national energy policies, and local expectations are increasingly developing there and in the U.S. This panel will address each country’s regulations, bi-national collaboration, and future challenges.

Quito Host Committee Reception for all Delegates

Join us for a not-to-be-missed evening in the heart of Quito’s historic Old City hosted by our wonderful Quito Host Committee law firms. The venue is the beautiful 16th-century Santo Domingo Church and Monastery—enjoy cocktails, hors-d’oeuvres, a concert, and even a dance performance! Buses will leave the Swissôtel promptly at 6:15pm.

Split Section: Oil & Gas - Thursday Afternoon

  1. Juan Carlos Serra

    Basham, Ringe y Correa, S.C., Mexico City, Mexico
  2. Miguel Strauss

    Statoil, Houston, TX
  3. Eduardo G. Pereira

    Professor of Energy Law; Partner Lisbon, Portugal

Joint Operating Agreements—Host Government Perspectives

To what extent should host governments interfere with the negotiation and conclusion of a JOA?  For instance, should governments require submission of the negotiated JOA for information only, or the submission of the negotiated JOA for approval, or issue their own standard JOA model form? Or, should the participation of the national oil company in the joint venture satisfy the need for governmental oversight for resource management purposes?

Hosted Refreshment Break

  1. Mónica Jiménez González

    Ecopetrol S.A., Bogotá, Colombia
  2. Andrew B. Derman

    Partner Thompson & Knight LLP, Dallas, TX
  3. W. Martin Añez Rea

    International Consultant DRLAbogados, Madrid, Spain
  4. Jaime Zaldumbide

    Partner Pérez Bustamante & Ponce, Quito, Ecuador

Evolution of Hydrocarbon Contracting Schemes in Latin America

Panelists will compare legislation and contracts within Latin America. Starting with an overview of model concession contracts in different jurisdictions and applicable legislation in the  region, panelists will then discuss lessons learned and how governments and investors can be aligned to support hydrocarbon exploration. How are different countries reacting with legislation and incentives to preserve their investment appeal in the face of low commodity prices? How are major companies moving their chess pieces in response? Special emphasis will be placed on our host country—Ecuador.

Quito Host Committee Reception for all Delegates

Join us for a not-to-be-missed evening in the heart of Quito’s historic Old City hosted by our wonderful Quito Host Committee law firms. The venue is the beautiful 16th-century Santo Domingo Church and Monastery—enjoy cocktails, hors-d’oeuvres, a concert, and even a dance performance! Buses will leave the Swissôtel promptly at 6:15pm.
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Environment and Sustainability - Friday Morning

  1. Kevin O'Callaghan

    Fasken Martineau DuMoulin LLP, Vancouver, BC
  2. Juan Sonoda

    Partner Beretta Godoy, Buenos Aires, Argentina
  3. Gonzalo Grez

    Partner, Cariola Díez Pérez-Cotapos & Cía, Ltda., Santiago, Chile
  4. Marta Gisela Martinez

    Vouga Abogados, Asunción, Paraguay
  5. ALEJANDRO PEMINTEL ECHENIQUE

    Ferrere, La Paz, Bolivia
  6. Ursula Zavala Carlin

    Counsel Rodrigo, Elias & Medrano Abogados, Lima, Peru
  7. GUILLERMO TEJEIRO GUTIÉRREZ

    Brigard & Urrutia Abogados, S.A.S., Bogotá, Colombia

Indigenous Rights in South America—A Comparison of Legal Regimes

Authors of the book “Indigenous Laws in South America,” published by the Rocky Mountain Mineral Law Foundation in 2016, will provide a panel discussion with a Q&A format that addresses the topics most relevant for extractive industries across Latin America, such as land rights and environmental approvals.

  1. Dawn G. Meidinger

    Director Fennemore Craig, P.C., Phoenix, AZ
  2. Patricio Leyton

    Partner, Ferrada Nehme Ltda., Santiago, Chile
  3. Nicholas L. Owens

    Anadarko Petroleum Corporation, Houston
  4. Kathleen C. Schroder

    Partner Davis Graham & Stubbs LLP, Denver, CO

An Evolving Landscape of Priorities for Species, Habitats, and Biodiversity

Increasingly, focus is being placed on the intrinsic value of the natural world and species. An evolution of terminology and scale is occurring that redefines nomenclature such as “critical habitat” and expands the benchmarks of analyses employed, moving from a habitat to an ecosystem-based approach. Terms such as “net conservation gain” have found their way into a multitude of regulations currently being promulgated to herald a new era of mitigation and offsets where age-old business standards will change and greater transparency will be required. This presentation examines and compares efforts in Latin America to apply the “mitigation hierarchy” that involves avoiding, minimizing, and compensating for impacts, as well as a mitigation standard of “net conservation gain.”  This presentation also describes U.S. laws, regulations, and landscape-scale analyses, in addition to lending standards from groups such as the International Finance Corporation (IFC), that incorporate these concepts and will affect resource extraction, including oil and gas development.

Hosted Refreshment Break

  1. Rachel Perks

    World Bank, Washington, DC
  2. Andrew A. Irvine

    Legal and Corporate Engagement Manager EITI, Oslo, Norway
  3. Alvaro Ordonez

    Partner, Ferrere, Quito, Ecuador
  4. MARCELLO M. VEIGA

    University of British Columbia, Vancouver , BC

Artisanal and Small-Scale Mining—Building and Implementing an Effective Legal Framework

Mining industries in Latin America and across the world are often dominated by artisanal and small-scale mining (ASM) operations, which are marred by myriad health, social, economic, and environmental problems. Even with significant economic and social contributions, these operations are often considered illegal because they operate informally, outside legal frameworks. While approaches to addressing problems resulting from ASM have varied, scholars recognize that legalization of ASM is a fundamental condition for a legitimate, stable, and responsible ASM sector. This presentation will analyze and discuss approaches in Colombia, Ecuador, and Peru to address problems resulting from ASM. Learning from these approaches, the speakers will recommend actions to build and implement an effective legal framework to formalize ASM in these countries and others, with the goal of establishing ASM as a safe, healthy, and environmentally responsible means of livelihood, as well as an opportunity to create jobs and reduce poverty.

  1. Scot W. Anderson

    Partner Hogan Lovells US LLP, Denver, CO
  2. Michael Dixon

    Partner Blake, Cassels & Graydon LLP, Calgary, AB
  3. Bill Marquardt

    Berkeley Research Group, LLC, Miami, FL
  4. GUILHERME MEISTER

    Ernst & Young, LLP, Sáo Paulo, Brazil

Crucial Factors in Building, Maintaining, and Updating a Global Compliance Program in the Resource Industry

In times of decreased commodity prices, there is increased pressure to accomplish more with less. This session will provide insight from external advisors and in-house experts on how to overcome compliance challenges and where to get the best compliance “bang for your buck.” Panelists will address challenges resource companies have faced in implementing and maintaining a compliance program; examples of strategies that have worked (and not worked) to address those challenges; how to effectively win the hearts and minds of senior management; how to implement a compliance culture in a business friendly manner; adapting a compliance program to different cultures with different business practices; and current best practices regarding facilitation payments, risk assessments, training, and gifts and entertainment.

Adjournment