LONDON--Chilean copper miner Antofagasta PLC (ANTO.LN) said Friday its subsidiary Minera Los Pelambres has agreed to transfer its 40% interest in Alto Maipo SpA to AES Gener, and that the electricity price applicable to the power purchase agreement with Alto Maipo has been reduced.

Antofagasta announced last October Minera Los Pelambres has been reviewing its options with respect to its 40% investment in the Alto Maipo project, following the announcement of a forecast 10-20% total cost overrun.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

January 20, 2017 03:34 ET (08:34 GMT)

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