(Corrects tax number in second paragraph.)
Anglo American Plc (AAL) said Codelco placed a value of about $400 million on undeveloped land it will transfer from its Sur unit to the Chilean state-owned company as part of a deal to settle claims.
Anglo placed nominal commercial value on the mining tenements, Peter Whitcutt, group director of strategy and business development, said on a conference call with reporters today. Anglo will pay $318 million in tax on the overall deal announced today, spokesman James Wyatt-Tilby said by phone.
To contact the reporter on this story: Carli Cooke in Johannesburg at email@example.com
To contact the editor responsible for this story: Amanda Jordan at firstname.lastname@example.org