Codelco Says Anglo American’s Future in Chile Is at Risk
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Anglo American Plc is risking its future in the world’s largest copper producing nation by denying Chile’s state-owned Codelco a 49 percent stake in its Sur unit, said Diego Hernandez, Codelco’s chief executive officer.
Anglo, part owner of the world’s biggest platinum and diamond producers, last week moved to block Codelco from exercising an option to buy 49 percent of its Chilean copper unit by selling a stake to Mitsubishi Corp. for $5.39 billion. Codelco is taking legal action against Anglo to protect the option.