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Codelco to Invest $5 Billion This Year, CEO Tells La Segunda

Codelco, the world’s largest copper producer, will invest $5 billion in 2012, up from $2.3 billion in 2011, Diego Hernandez, Codelco’s Chief Executive Officer, told La Segunda in an interview.

An agreement with Anglo American Plc in January over the Anglo Sur unit in central Chile is very unlikely, Hernandez told the Santiago-based evening newspaper. Codelco will not soften its position, Hernandez said.