LONDON--Chilean copper miner Antofagasta PLC (ANTO.LN) said late Friday it has sold Minera Michilla SA to Haldeman Mining Company SA for $52 million.
The transaction includes the open pit mine, the underground mine, the cathode production plant and various mining properties, Antofagasta said. It will retain the acid terminal and other facilities located at Caleta Michilla, which are currently used by the company's Centinela and Antucoya mining operations.
At the end of 2014, Antofagasta announced the decision to close its operations at Michilla on Dec. 31 2015 as the reserves were insufficient to sustain and justify a large-scale mining operation. Annual copper production in 2015 was 29,400 tones, with record production of 52,730 tones being achieved in 2003.
-Write to Ian Walker at firstname.lastname@example.org; @IanWalk40289749
(END) Dow Jones Newswires
November 28, 2016 01:56 ET (06:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.