Antofagasta exits mining project in Pakistan

Antofagasta exits mining project in Pakistan

M&A Equity Chile Asia Canada

Chilean mining company Antofagasta has agreed to sell its stake in the Reko Diq project in Pakistan for $945 million, it said in a press release last week. Antofagasta, owned by local conglomerate Grupo Luksic, had formed Tethyan Copper Company (TCC), a 50-50 joint venture with Canada's Barrick Gold, to develop Reko Diq, one the largest copper and gold reserves in the world. The Chilean company, however, agreed to exit the joint venture in March this year after a long legal case to get a mining

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial