Codelco Sues Anglo American Over $5B Mine Stake

Law360, New York (January 10, 2012, 5:36 PM EST) -- Chile's state-owned copper company sued Anglo American PLC on Tuesday over the British company's plans to sell a $5.4 billion stake in a coveted Chilean copper mine to Mitsubishi Corp., the latest shot in an ongoing battle over contract options for the mine's vast copper reserves.

Corporacion Nacional del Cobre, known as Codelco, asked a Chilean state court to force the London-based miner to honor Codelco's option to buy 49 percent of the Sur mining complex and to pay damages stemming from the alleged breach of...
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