Antofagasta PLC
14 July 2006
Antofagasta plc
Antofagasta to form new joint venture with AngloGold in Colombia
London, 14 July 2006
Antofagasta plc is pleased to announce that its subsidiary, Antofagasta Minerals
S.A. ('Antofagasta'), has signed a Head of Terms agreement with AngloGold
Ashanti Limited ('AngloGold'), one of the world's largest gold producers. This
agreement sets out the terms of a proposed joint venture, the Southern Colombia
Joint Venture ('the JV'), to explore, discover, and develop copper and gold
mining projects in an area of interest in southern Colombia extending
approximately 30,000 square kilometres.
Under the agreement, AngloGold will contribute its mineral interests in the area
covered by the JV and Antofagasta will commit to funding US$1.3 million in
exploration over a period of one year. Antofagasta may elect to fund an
additional US$6.7 million in exploration within four years (representing a total
contribution of US$8.0 million), in order to earn a 50% interest in the JV.
Marcelo Awad, CEO of Antofagasta, commented, 'This agreement further strengthens
Antofagasta's exploration activities in Latin America, its primary region of
focus, and represents a further step forward in our strategy of expanding
internationally.'
Enquiries - London Enquiries -Santiago
Antofagasta plc Antofagasta Minerals S.A.
Tel: +44 20 7808 0988 Tel +562 377 5070
www.antofagasta.co.uk
Ricardo Muhr
Desmond O'Conor Email:rmuhr@aminerals.cl
Email: doconor@antofagasta.co.uk
Issued by
Hussein Barma Bankside Consultants
Email: hbarma@antofagasta.co.uk Tel: +44 20 7367 8873
Keith Irons
Email: keith@bankside.com
Oliver Winters
Email: oliver.winters@bankside.com
This information is provided by RNS
The company news service from the London Stock Exchange