Anglo American statement re. Codelco’s announcement
12 October, 2011
Anglo American notes the announcement made today by Codelco in relation to financing arrangements for the option it holds over a 49% shareholding in certain of Anglo American’s copper assets in Chile, together known as “Anglo American Sur”.
Anglo American Sur comprises the Los Bronces and El Soldado copper mines and the Chagres copper smelter. The option dates back to 1978 and was inherited by Anglo American upon acquisition of the assets in 2002. The exercise window for the option is limited to the month of January every three years until 2027; the next such window is January 2012.
Anglo American will consider the implications of Codelco’s announcement.