Response to Codelco injunction

RNS Number : 1591S

Anglo American PLC

15 November 2011

 

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15 November 2011
Anglo American to oppose injunction on sale of further shares in Anglo American Sur

Anglo American plc ("Anglo American") notes the injunction granted by the Court of Appeals in Santiago, Chile in relation to Anglo American's ability to dispose of further shares in Anglo American Sur ("AAS").

The option agreement between Anglo American, certain of its affiliates and Codelco, expressly contemplates the eventuality of Anglo American disposing of its AAS shares at any time prior to the date on which the option may be exercised and therefore no longer holding 100% of the shares in AAS. In such an eventuality, the percentage of shares in AAS over which Codelco may exercise its option is reduced by the percentage of shares in AAS not held by Anglo American at the time of exercise. The option is exercisable only during the month of January every three years until January 2027.

The injunction does not apply to the transaction between Anglo American and Mitsubishi Corporation which completed on 9 November 2011.

Anglo American intends to file a response to the injunction and will take such other steps as are necessary to protect its rights.

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby Tel: [phone]		UK Leng Lau Tel: [phone]
Emily Blyth Tel: [phone]		Caroline Crampton (neé Metcalfe) Tel: [phone]
Chile Marcelo Esquivel Tel: [phone]		Leisha Wemyss Tel: [phone]

Notes to editors:

Anglo American plc is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds.  Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com

 

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