| Duluth Metals to be sold to Chilean mining company | |
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ST. PAUL, Minn. (AP) -- Duluth Metals says it's selling its operations to Chilean mining giant Antofagasta PLC for about $85 million.
The two companies have been partners in Twin Metals Minnesota, which seeks to tap copper and nickel deposits in a massive swath of land near Ely. The region just a few miles south of the Boundary Waters Canoe Area Wilderness may contain the largest untapped source of precious metals in the world.
Duluth Metals controls 40,000 acres of mineral interests on land near the proposed site of the Twin Metals project, Minnesota Public Radio News (http://bit.ly/1x0P6MF ) reported. The firm has been exploring the northeast part of the state in search of copper and other metal for nearly 10 years.
"I think this deal removes a certain amount of uncertainty in the marketplace because Antofagasta is quite a substantial company in very good financial condition," Duluth Metals CEO Christopher Dundas said.
It's still unclear how the $2.5 billion copper-nickel mine project would progress after Antofagasta takes over.
Antofagasta officials said Monday the company is still interested in the Ely mineral deposits and plans to re-evaluate the design of the Twin Metals project.
The project has faced opposition from environmentalists and local residents who are afraid the mining activities would taint the area that's known for its sprawling wilderness.
"We'll pay close attention," Friends of the Boundary Waters spokesman Aaron Klemz said. "But we're unclear about what this might mean for the project moving forward."
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Information from: Minnesota Public Radio News, http://www.mprnews.org
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Antofagasta plc
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PRODUCTEUR |
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CODE : ANTO.L |
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ISIN : GB0000456144 |
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Antofagasta est une société de production minière de cuivre et d'or basée au Royaume-Uni. Antofagasta est productrice de cuivre, d'or, d'argent et de molybdène au Chili, en développement de projets de cuivre et d'or au Chili et au Pakistan, et détient divers projets d'exploration au Chili, au Perou, en Australie et en Suede. Ses principaux projets en production sont MICHILLA, EL TESORO MINE, LOS PELAMBRES, EL TESORO, ESPERENZA (OXIDES) et ESPERANZA (SULPHIDES) au Chili, ses principaux projets en développement sont REKO DIQ au Pakistan et LINCE/MICHILLA au Chili et ses principaux projets en exploration sont PUNT HILL et PYRAMID ( ALASKA) en Australie, KIRUNA SOUTH en Suede, CORDILLERA DE LAS MINAS au Perou et ANTUCOYA au Chili. Antofagasta est cotée au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2 232,0 milliards GBX (2 609,6 milliards US$, 2 448,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 18 octobre 2002 à 100,00 GBX, et son plus haut niveau récent le 18 avril 2024 à 2 264,00 GBX. Antofagasta possède 985 856 000 actions en circulation. |