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Chile Antofagasta Exits Zambia Copper Exploration Project
Aug 11,2010 08:35CST
industry news

SANTIAGO, Aug 10, 2010 (Dow Jones Commodities News via Comtex) -- Chilean miner Antofagasta PLC (ANTO.LN) withdrew from a partnership agreement with TEAL Exploration & Mining in Zambia in May, a company spokesman confirmed.

Antofagasta entered into the agreement in 2008 with TEAL as part of its internationalization process.

"Following exploration work in Zambia the company decided not to continue working on the project...However, we're still (exploring) in many places around the globe and we don't rule out further exploration activity in the future in Africa," said the spokesman.

Antofagasta currently has an exploration agreement with Sunridge Gold Corp for its Asmara project in Eritrea.

Although Antofagasta has several exploration projects worldwide, all of its production comes from its Chilean mines.

For the second quarter Antofagasta produced 135,200 metric tons of copper from its Los Pelambres, Michilla and El Tesoro mines.

The miner is on track to start operating in the fourth quarter at its Esperanza project, also in Chile. 

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