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Appointment of Jorge Bande
NEWS RELEASE, 21 January, 2015
COMPLETION OF DULUTH ACQUSITION
Antofagasta plc is pleased to announce that its wholly-owned subsidiary, Antofagasta Investment Company Limited ("Antofagasta"), has obtained all the necessary approvals and applications to complete the acquisition of Duluth Metals Limited ("Duluth") previously announced on 3 November 2014.
Under the terms of the agreement Antofagasta acquired all the shares of Duluth for an all cash consideration of C$0.45 per share, approximately C$53 million. The acquisition of Duluth by Antofagasta consolidates Antofagasta's ownership in the Twin Metals Minnesota Project ("TMM") to 100%. The TMM Project is a copper-nickel-platinum-palladium-gold- silver project in the Duluth Complex in north-eastern Minnesota, USA.
Diego Hernandez, CEO of Antofagasta plc, commented:
"The completion of the Duluth acquisition is a positive next step in building the company's long term growth pipeline. The Duluth Complex is an attractive geological deposit and now the pre-feasibility study is complete, we will focus on further optimisations of the project and advance the permitting process."
Investors - London Media (Brunswick)
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Antofagasta plc
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PRODUCER |
CODE : ANTO.L |
ISIN : GB0000456144 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Antofagasta is a copper and gold producing company based in United kingdom. Antofagasta produces copper, gold, molybdenum and silver in Chile, develops copper and gold in Chile and in Pakistan, and holds various exploration projects in Australia, in Chile, in Peru and in Sweden. Its main assets in production are MICHILLA, EL TESORO MINE, LOS PELAMBRES, EL TESORO, ESPERENZA (OXIDES) and ESPERANZA (SULPHIDES) in Chile, its main assets in development are REKO DIQ in Pakistan and LINCE/MICHILLA in Chile and its main exploration properties are PUNT HILL and PYRAMID ( ALASKA) in Australia, KIRUNA SOUTH in Sweden, CORDILLERA DE LAS MINAS in Peru and ANTUCOYA in Chile. Antofagasta is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 2 223.1 billions as of today (US$ 2 594.8 billions, € 2 425.1 billions). Its stock quote reached its lowest recent point on October 18, 2002 at GBX 100.00, and its highest recent level on April 26, 2024 at GBX 2 255.00. Antofagasta has 985 856 000 shares outstanding. |