Codelco

Chilean court denies Codelco bid to freeze Anglo American's dividends

Diversified miner Anglo American Plc. (LON:AAL) announced today the 14th Civil Court of Santiago has rejected state copper giant Codelco's latest petition to freeze 49% of the dividends paid by the Sur Division of the London-based miner.

Chilean mining industry faces looming energy crisis

Chile will not be able to keep mining for copper, gold and other minerals if the government does not address the country's pressing energy needs, a mining conference in Santiago heard this week.

British government urges Anglo American and Codelco to reach amicable resolution

Chile's state-owned mining company Codelco, the world's largest copper producer London-based Anglo American (LSE: AAL) should try reaching a negotiated solution to the ongoing dispute about Codelco’s stake in Anglo’s Sur unit, said British ambassador to Chile, Jon Benjamin.

$1.7 billion in business as a result of Expomin 2012

1,300 exhibitors, 5,000 new products, 35 countries represented, 70,000 visitors and nearly $1.7 billion in future business is the result of ExpoMin 2012, the world mining congress held April 9 to 13 in Santiago, Chile.

Chile’s Codelco will decide future of its Chuquicamata underground mine this year

Chile’s state-owned copper giant Codelco will make a decision on the construction of an underground mine at its Chuquicamata operation before the end of this year, said CEO and Executive President Diego Hernandez.

Chilean miner Codelco shuffles management

Chile state copper company Codelco shuffled management at several of its divisions, the company said Wednesday.

Codelco profits surge but 2012 output likely to dip

The world's top copper producer said Friday that pre-tax profits for the full year 2011 jumped 21% to $7.03bn.

Chile’s mining industry hunts for renewable energy

As oil prices continue to rise, and nations around the world look for ways to weather an energy crisis, Chile is turning to one of its own best renewable resources – solar energy – to supply much needed power.

Codelco experimenting with 'biomining' in Chile

BBC News reports on new technology used for mining copper in Chile. Biosigma, a joint venture between Codelco and Nippon Metals and Mining, is experimenting with microbes that break down copper at higher recovery rates and reduce operating costs:

Chile’s Codelco to expand to the rest of South America

It’s Ecuador and Colombia next for Chilean copper giant Codelco, as the company proceeds with plans to become more international by exploring mining opportunities in neighbouring countries.

Codelco’s battle with Anglo American worsens, threating Anglo’s business

Chilean copper giant Codelco is preparing new legal actions in its dispute with Anglo American (LSE:AAL) as the company is not satisfied with the documents submitted Wednesday to a civil court by the London-based company.

Chile Copper Giant Codelco to invest over US$4.3 bln in 2012

Chilean state giant Codelco, the world's biggest copper producer, plans to invest over US$4.3 billion this year, said the company’s president Diego Hernandez said on Tuesday

Anglo American/Codelco secret talks fiasco could extend legal battle up to five years

After over two months of futile negotiations behind closed doors between Chile's state-owned copper giant Codelco and global miner Anglo American, a resolution of the dispute that have seen both parties sunk in a legal battle seems far off, said Codelco's CEO Diego Hernandez to a local daily.

Codelco forced to disclose Mitsui loan contract

A Chilean civil court ordered world's largest copper producer Codelco to publish the agreement for a financing deal of up $6.75 billion with Japan's Mitsui & Co. (TYO:8031), reports the online version of local newspaper El Mercurio.

Codelco already struggling to match 2011 copper output

Chilean state giant Codelco, the world's biggest copper producer, will have to strive this year to match record 2011 copper production of 1.735 million tonnes, said CEO Diego Hernandez to the El Mercurio newspaper's Sunday edition.

Anglo defends itself against 'criminal accusation' as mud flies in fight with Codelco

Anglo-American in its increasingly acrimonious fight with Codelco on Thursday had to defend itself against what it termed "the criminal accusation" made by the president of the Federation of Copper Workers in Chile who sits on the Chile’s state-owned copper giant board.

Codelco will spend $5 billion in 2012, Chile court hands it minor victory over Anglo

Bloomberg reports Chile's state-owned firm Codelco, the world's largest copper producer, plans to invest $5 billion in 2012 on capital projects, more than twice the $2.3 billion it allocated last year. Also on Friday a Santiago court blocked Anglos from selling any more shares in its Sur subsidiary while it battles Codelco over an option to acquire 49% of its Chile operations.

Codelco now seeks 'forced enforcement' of Sur option, compensation from 'erratic' Anglos

Chile’s state-owned copper giant on Tuesday turned the screws further on Anglo-American in its bitter fight over a 49% stake in Anglo-American Sur, one of the world's richest copper deposits.

Chile’s Codelco files documents to exercise US$6 billion Anglo option

Chile's state copper company Codelco, the world's top producer, announced today that it has used its rights to exercise its disputed option to buy a 49 percent stake in global miner Anglo American's southern Chilean properties.

Anglo American and Codelco meet in court

Formerly called “The Disputed One,” Anglo American’s Los Bronces mine located northeast of Santiago, Chile, is living up to its name. The operation, which is expected to become the world's fifth-biggest copper mine, is at the heart of the ongoing legal dispute between the London-based global miner and Chile’s Codelco, the world’s largest copper producer.

Codelco to invest US$ 244 million in Quetena copper deposit

Codelco, the world's largest copper producer, will invest US$ 244 million to speed up the development of its Quetena copper deposit in northern Chile, an open pit operation that will produce 62,000 tons of fine copper per year.

Chilean Justice gives Mitsubishi three days to answer Codelco’s demands

A Chilean civil court told Japanese Mitsubishi today that it has three working days to respond to the lawsuit filed by Codelco in the context of the conflict with Anglo American.
Codelco's legal action seeks to annul the $5.39 billion deal between Anglo and Mitsubishi, after the Japanese company sold its 24.5 percent stake in Anglo American Plc’s Sur unit.

Codelco starts new legal actions against Anglo amid accusations of generating an “artificial dispute”

The legal battle between Codelco and Anglo American is escalating. Yesterday, Chile’s state-owned copper company lodged a so-called pre-judicial preparatory measure in the 17th Civil Court of Santiago, seeking details of Mitsubishi’s purchase of a 24.5 percent stake announced on Nov. 9. The measure aims to ultimately annul the $5.39 billion deal between Anglo and Mitsubishi.
While this was happening, London-based miner filed a legal action to annul Codelco’s “protection petition” presented Nov.14, which prevents Anglo from keep selling part of its assets.

Codelco to invest up to US$30mn in Ecuador within next four years

Chilean state copper producer Codelco will invest US$10mn-30mn within the next four years in Ecuador following the signing of an exploration agreement.

Codelco enjoying one of its best years 'ever', profits jump to $5.3 billion

The world's top copper producer, Chile's Codelco, said on Friday it produced 1.25 million tonnes of copper in the nine months to September, up 3.5 percent from the same period last year. The state-run miner said pre-tax profits rose 37 percent during the January-September period from a year earlier to $5.3 billion.

Codelco is having one of its best production years ever, and will beat its 1.7 million tonne output target for 2011, Chairman Gerardo Jofre told Reuters on Wednesday.