Acquisition

Antofagasta PLC
30 December 2003

The following statement has been released by Antofagasta plc and is distributed
in London by Bankside Consultants Ltd on behalf of the Company.  Contact:  
Keith Irons, 020 7444 4155.




                      ANTOFAGASTA COMPLETES ACQUISITION OF
                             ESSAN WATER CONCESSION


LONDON: 30 December 2003 - Antofagasta plc (ANTO.L), the UK mining group with
operations in Chile, reports that it has completed the acquisition of the
30-year ESSAN water concession in Chile's Region II following the signing of the
Concession agreement and payment of the consideration on 29 December 2003.  The
final consideration was US$ 195.3 million (including IVA tax), reflecting the
change in the US dollar/ Chilean peso exchange rate since the Concession was
awarded on 25 November 2003.  The Concession will be operated by Aguas de
Antofagasta S.A., a wholly-owned subsidiary.



Enquiries -


Antofagasta plc                                    F.C.A.B. (Chile)
Tel:  [phone]                             Tel:  [phone]



Philip Adeane                                      Ramon Jara
Email:  [e-mail]               Email:  [e-mail]



Hussein Barma                                      Miguel Sepulveda
Email:  [e-mail]                   Email:  [e-mail]

Bankside Consultants
Tel:  [phone]


Keith Irons
Email:  [e-mail]






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