Chile's Codelco,Antofagasta Plan Exploration Joint Venture:Report

30th Jun 2010 13:55

SANTIAGO (Dow Jones)--State copper company Corporacion Nacional del Cobre de Chile and London-listed Chilean mining company Antofagasta PLC (ANFGY, ANTO.LN) are planning an exploration joint venture, the newspaper El Mercurio reported Wednesday. Codelco, as the state mining company is known, would contribute properties in northern Chile, which Antofagasta would explore, the newspaper reported, citing people close to the deal. Neither executives from Codelco or Antofagasta were immediately available to confirm the report. In Chile, Antofagasta owns and operates the Los Pelambres, Michilla and El Tesoro mines and is developing its Esperanza project. Codelco is the world's largest copper producer with an annual output of around 1.7 million metric tons. -By Carolina Pica, Dow Jones Newswires; 56-2-715-8919; [email protected] (END) Dow Jones Newswires June 30, 2010 08:55 ET (12:55 GMT)