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Article: MINMETALS CAN'T EXERCISE OPTION ON CHILEAN GABY MINE
- Article from:
- AsiaInfo Services
- Article date:
- September 24, 2009
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AsiaInfo Services
09-24-2009
Minmetals Can't Exercise Option On Chilean Gaby Mine
SANTIAGO, Sep 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- Corporacion Nacional del Cobre de Chile (Codelco) decided not to sell its large Gabriela Mistral (Gaby) copper mine, which meant that China Minmetals Corp. would be unable to exercise an option for a stake in the mine, Jose Alvarez, an executive vice president for finance of the Chilean state-owned copper miner, said on September 23.
Codelco will keep a copper output of about 1.75 million tons in 2008 and 2009, disclosed the vice president. The company predicted that the copper output would not change before 2015-2016, and after that, its ...