Antofagasta PLC SALE OF MICHILLA (2339Q)
November 28 2016 - 2:00AM
UK Regulatory
TIDMANTO
RNS Number : 2339Q
Antofagasta PLC
28 November 2016
London, 25 November 2016
SALE OF MICHILLA
Antofagasta plc ("Antofagasta" or the "Company") is pleased to
announce that following the closure of the Michilla mine at the end
of 2015 it has today signed an agreement to sell Minera Michilla SA
("Michilla") to Haldeman Mining Company SA (HMC), a medium sized
Chilean mining company that produces copper and gold in Chile, for
a total consideration of $52 million. The transaction includes the
open pit mine, the underground mine, the cathode production plant
and various mining properties. Antofagasta will retain the acid
terminal and other facilities located at Caleta Michilla, which are
currently used by its Centinela and Antucoya mining operations.
Notes to Editors:
About Minera Michilla SA
Antofagasta acquired Michilla in 1992, giving rise to what today
is the Company's mining division. At the end of 2014, Antofagasta
announced the decision to close its operations at Michilla on 31
December 2015 as the reserves were insufficient to sustain and
justify a large-scale mining operation. Annual copper production in
2015 was 29,400 tonnes, with record production of 52,730 tonnes
being achieved in 2003.
About Haldeman Mining Company SA
HMC is a Chilean medium-sized mining company, with the Cardone
Solari and Solari Donaggio families controlling 60% of the shares.
The company has copper and gold mining operations in the First and
Fourth Regions of Chile. In the Fourth Region, HMC operates Tambo
de Oro which produces 30,000 ounces of gold per year and, in the
First Region, the Sagasca project, which has an annual operating
capacity of 19,000 tonnes of copper cathode.
Investors - London Media (Brunswick)
Andrew Lindsay alindsay@antofagasta.co.uk Carole Cable
antofagasta@brunswickgroup.com
Paresh Bhanderi pbhanderi@antofagasta.co.uk Will Medvei
antofagasta@brunswickgroup.com
Telephone +44 20 7808 0988 Telephone +44 20 7404 5959
Investors - Santiago Media - Santiago
Alfredo Atucha aatucha@aminerals.cl Pablo Orozco
porozco@aminerals.cl
Telephone +56 2 2798 7000 Carolina Pica cpica@aminerals.cl
Telephone +56 2 2798 7000
_______________________________
This information is provided by RNS
The company news service from the London Stock Exchange
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