China Minmetals Corp. is interested in taking a stake in Chilean miner Antofagasta PLC's (ANTO.LN) Reko Diq copper and gold project in Pakistan, La Tercera newspaper reported.

The Reko Diq project is a joint venture with Canadian miner Barrick Gold Corp. (ABX), called Tethyan Copper Co. Tethyan has a 75% stake in Reko Diq with the local government of Baluchistan holding the remaining 25%.

Antofagasta invited Minmetals to participate "and we are interested but it's in currently in the evaluation phase," Minmetals president Zhou Zhongshu told the newspaper during a visit to Chile.

Minmetals has a mine in the Chagai district in Baluchistan that is close to the Reko Diq project.

The newspaper reported that Antofagasta confirmed the talks with Minmetals.

"We are always open to proposals, but we haven't defined anything yet. This is only a declaration of interest," the unnamed person at Antofagasta told the newspaper.

The $3.3 billion project could produce 190,000 metric tons of copper and 270,000 troy ounces of gold a year the first five years in operation, Antofagasta has said.

-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919; carolina.pica@dowjones.com
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