26 January 2012
Anglo American: criminal investigation in Chile is totally unfounded
Anglo American notes the criminal accusation made by the President of the Federation of Copper Workers in Chile, a Codelco Board member, in relation to Anglo American’s sale of a 24.5% shareholding in Anglo American Sur (“AASur”) to Mitsubishi Corporation in November 2011. Anglo American’s disagreement with Codelco in relation to AASur is a contractual dispute between two large corporations and should be resolved as such.
Anglo American has published the transaction agreements between Anglo American and Mitsubishi Corporation. It is clear from those agreements that this was an entirely normal and wholly completed transaction between two multinational companies. Any allegation to the contrary, or to suggest that Anglo American or any of its employees have acted improperly, is totally unfounded.
Cynthia Carroll, Chief Executive of Anglo American, said: “It is completely inappropriate for criminal proceedings to be considered against any individuals in this contractual dispute between two companies, particularly when initiated by a Codelco Board member. Anglo American is a global mining company with an outstanding track record in Chile and has at all times acted in good faith and in full compliance with the option agreement. We are wholly confident in our legal position and would expect the Chilean courts to see this campaign as intimidation and to uphold our conduct as fully in accordance with the law. We have stated very clearly and consistently that we are open to working with Codelco to agree a commercial solution and we urge Codelco and its Board to act constructively to that end.”
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James Wyatt-Tilby Marcelo Esquivel
Tel: +44 (0)20 7968 8759 Tel: +56 2 230 6584
Tel: +44 (0)20 7968 8481
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, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.