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.
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Notes to editors:
Anglo American is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com