Home / Daily Briefs / 2022 / 20 / Antofagasta exits mining project in Pakistan

Antofagasta exits mining project in Pakistan

Antofagasta exits mining project in Pakistan

December 20, 2022
Chilean miner expects to receive $945 mln for its half of the copper and gold project by the end of next year

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?

    Forgot your password?

Free trial

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

Free Trial