Codelco May Resume Talks With Anglo, Chairman Tells El Mercurio

Codelco, the world’s largest copper producer, is open to resuming talks with Anglo American Plc (AAL) over an option to buy a 49 percent stake in Anglo’s Sur unit in Chile, Codelco Chairman Gerardo Jofre told El Mercurio.

There aren’t any negotiations going on at the moment, Jofre told the Santiago-based newspaper in an interview published today. Codelco won’t settle for a lower stake, Jofre said.

Codelco filed a lawsuit in January to force Anglo into selling the stake in the Sur unit, which owns the Los Bronces mine and two unexploited copper deposits. Anglo said in November it sold 24.5 percent of Sur to Mitsubishi Corp. (8058), limiting Codelco’s option to 24.5 percent.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net

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