Antofagasta Offers Chile Mining Stake to Marubeni

Antofagasta Offers Chile Mining Stake to Marubeni

Chile M&A

Chile’s Antofagasta has agreed to sell a 30% stake in the Antucoya copper venture to Japan’s Marubeni for $350m. The companies signed a memorandum of understanding which also commits Marubeni to cover its share of development costs in the mining venture. The MOU sets a number of conditions prior to striking a definitive deal in the first quarter of 2012. If all goes as planned, Antofagasta estimates the transaction would then close sometime during the second half of 2012. Officials at Antofagast

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