Mining colossus Anglo-American has sold off a large minority stake in its Chilean copper business for a reported $5.39bn to Japanese trading house Mitsubishi Corporation.
Mitsubishi has acquired 24.5% of Anglo American Sur (AAS), hitherto a wholly owned subsidiary of Anglo American. AAS is a Chilean copper mining and smelting company, holding a significant portfolio of copper assets in Chile, including the Los Bronces mine, the El Soldado mine, the Chagres smelter and large-scale prospective exploration properties.
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