14th Jul 2006 10:00
Antofagasta PLC14 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 MineralsS.A. ("Antofagasta"), has signed a Head of Terms agreement with AngloGoldAshanti Limited ("AngloGold"), one of the world's largest gold producers. Thisagreement sets out the terms of a proposed joint venture, the Southern ColombiaJoint Venture ("the JV"), to explore, discover, and develop copper and goldmining projects in an area of interest in southern Colombia extendingapproximately 30,000 square kilometres. Under the agreement, AngloGold will contribute its mineral interests in the areacovered by the JV and Antofagasta will commit to funding US$1.3 million inexploration over a period of one year. Antofagasta may elect to fund anadditional US$6.7 million in exploration within four years (representing a totalcontribution of US$8.0 million), in order to earn a 50% interest in the JV. Marcelo Awad, CEO of Antofagasta, commented, "This agreement further strengthensAntofagasta's exploration activities in Latin America, its primary region offocus, and represents a further step forward in our strategy of expandinginternationally." Enquiries - London Enquiries -Santiago Antofagasta plc Antofagasta Minerals S.A.Tel: +44 20 7808 0988 Tel +562 377 5070www.antofagasta.co.uk Ricardo MuhrDesmond O'Conor Email:[email protected]: [email protected] Issued byHussein Barma Bankside ConsultantsEmail: [email protected] Tel: +44 20 7367 8873 Keith Irons Email: [email protected] Oliver Winters Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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