Antofagasta Sells Minera Michilla for $52 Million
November 28 2016 - 2:11AM
Dow Jones News
LONDON--Chilean copper miner Antofagasta PLC (ANTO.LN) said late
Friday it has sold Minera Michilla SA to Haldeman Mining Company SA
for $52 million.
The transaction includes the open pit mine, the underground
mine, the cathode production plant and various mining properties,
Antofagasta said. It will retain the acid terminal and other
facilities located at Caleta Michilla, which are currently used by
the company's Centinela and Antucoya mining operations.
At the end of 2014, Antofagasta announced the decision to close
its operations at Michilla on Dec. 31 2015 as the reserves were
insufficient to sustain and justify a large-scale mining operation.
Annual copper production in 2015 was 29,400 tones, with record
production of 52,730 tones being achieved in 2003.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 28, 2016 01:56 ET (06:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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