Anglo American puts forward copper mines for sale

Author: Paul Ploumis
10 Nov 2014 Last updated at 07:29:00 GMT
SANTIAGO (Scrap Monster): According to the sources, Anglo American is planning to sell, two of its copper mines located in Chile, also a smelter, based on the company’s portfolio, that, it is selling off all the less profiting branches of the  company.

Magris Resources and QKR Inc, are the two of the firms which are showing high interest in the sale, right from the beginning.  Magris Resources, is a firm located in Toronto, and is owned by Aaron Regent, the former Chief Executive Officer of Barrick Gold Corp. QKR, is an investment group located in London, owned by Lloyd Pengilly.

The source states that, many potential bidders are showing their interest in the sale, and the auction will start, most probably, from the beginning of next month. The expectation of Anglo America, is to raise at least an amount of 1 billion dollars from the sale of two copper mines, Mantos Blancos copper mine and Mantoverde, also the company’s share at the ElSoldado copper mine and Chagres smelter. Anglo, one of the biggest copper mines located in Chile, is planning to invest largely on the company’s, Collahuasi mine and Los Bronces.