Corporación Nacional del Cobre de Chile (Codelco)’s board has agreed to exercise its right to acquire up to 49% of Anglo American Sur in January 2012 for about $9.76bn.

Codelco entered into an agreement with Mitsui & Company on 12 October to receive debt finance of up to $6.75bn, for the acquisition.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Anglo American Sur assets include Los Bronces and El Soldado copper deposits, the copper charges smelter and other exploration projects Los Sulfatos and San Enrique Monolito.

With the exercise of the option to purchase and the agreement with Mitsui, Codelco will have a significant shareholding participation in a world-class asset.

The acquisition will also provide Codelco with additional resources that will allow its expansion and extension.

 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Mining Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Mining Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact

Excellence in Action
Recognised with the Research & Development Award , Nokia’s Cognitive Digital Mine uses AI, IoT and digital twin technology to deliver predictive, self-optimising mining operations. Learn how Nokia’s Digital Twin Black Box is enabling safer, more efficient and more profitable mines worldwide.

Discover the Impact