Peruvian Miner Buenaventura Sees Antofagasta as Ally in Copper Growth Plans
- Exposure to copper assets are main reason for buying stake
- Buenaventura Chairman Roque Benavides speaks in interview
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After a few weeks digesting Antofagasta Plc’s surprise entry into its shareholder register, Buenaventura sees the new investor as an ally in its copper growth plans rather than a rival eying control of the Peruvian firm.
Buenaventura shares have surged 50% since mid-December when Antofagasta unveiled a 19% stake. That makes Antofagasta the biggest shareholder after the combined holdings of members of the Benavides clan that founded the Peruvian miner. Some investors have speculated that the firm controlled by Chile’s richest family may look to take over Buenaventura at some point.