Anglo American, Codelco finalise $5bln Chilean copper mines deal

From zawya.com

Anglo American and Chilean state-run copper giant Codelco said on Tuesday finalised an agreement to jointly operate their neighbouring Chilean copper mines, aiming to unlock at least $5 billion in value from their key assets. The mining plan relates to Codelco's Andina mine and Anglo American's Los Bronces mine in central Chile outside the capital of Santiago, building on a memorandum of understanding signed by the two groups in February. "We can now maximise the potential of the Andina-Los Bronces mining district without major investments and with significantly greater returns," said Codelco Chairman Máximo Pacheco. ... (full story)