Business & Banking

Business & Banking

Chile

Anglo Buys Exxon's Chilean Copper Mines Anglo American, the world's largest precious-metals mining company, is spending $1.3 billion in cash to buy two Chilean copper mines from Exxon Mobil Corp. The deal will help Anglo save up to $100 million by merging operations of its Compañía Minera Disputada de Las Condes Limitada group with its two existing copper producers in Chile - Collahuasi and Mantos Blancos. Anglo American, which is a controlling shareholder of the gem diamond producer De Beers, bought the Chilean operation as a way of expanding its base metal assets. With limited growth available in the mining of gold, platinum and diamonds, Anglo is working to strength

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