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Tuesday, August 16, 2022

UK fund to buy Anglo’s Chile copper mines – paper

SANTIAGO, Aug 8 (Reuters) – A British investment fund will buy the Chilean copper assets being sold by global miner Anglo American, a Chilean newspaper reported on Saturday, without naming its source or identifying the fund.

The Mantoverde and Mantos Blancos copper mines are expected to fetch between $ 500 million and $ 1 billion. Mining and trading company Glencore (Xetra: A1JAGV – news) , former Xstrata CEO Mick Davis’ X2, and British investment firm Audley Capital were among the first round of bidders, sources told Reuters in June.

“Anglo American (LSE: AAL.L – news) is close to completing the sale of (the two mines) and the buyer will be an English investment fund,” said El Mercurio, without giving further details or citing sources.

Anglo American could not immediately be reached for comment. (Reporting by Rosalba O’Brien; Editing by Raissa Kasolowsky)

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