Mauro tailings dam

Antofagasta PLC
07 November 2006

                                ANTOFAGASTA PLC


For immediate release - Tuesday, November 7, 2006


              Minera Los Pelambres - El Mauro tailings dam project

LONDON: November 7, 2006 - Antofagasta plc ('Antofagasta') reports that last
Friday (3 November 2006) the Court of Appeals of Santiago upheld a claim
presented by community organisations in the Pupio Valley which forms part of the
municipality of Los Vilos against the award of some permits by the Chilean water
authority, the Direccion General de Aguas, in November 2005 for certain aspects
of the construction of the El Mauro tailings dam by Antofagasta's 60%-owned
subsidiary, Minera Los Pelambres ('Los Pelambres').

Following the Court of Appeals decision, Los Pelambres has issued the following
statement:

•  During a lengthy planning process for the El Mauro dam which began in
   2003, Los Pelambres gave detailed consideration to the environmental impact 
   of the project and focused especially on issues of safety, the proper use of 
   the natural water resources, and respect for third-party water rights. These 
   issues were fully reviewed by the relevant governmental technical and 
   environmental agencies.  The regional environmental authority of Coquimbo 
   (COREMA) approved the necessary Environment Impact Assessment in April 2004 
   and this decision was fully ratified by the national environmental authority 
   (CONAMA) at the end of 2004.  Los Pelambres subsequently applied for and was 
   granted all the necessary sectoral permits from the relevant governmental 
   authorities.  Los Pelambres believes that it has received all the technical 
   and legal permits necessary to undertake development of the El Mauro project, 
   which is now 58% complete.

•  As one of the parties affected by the decision of the Court of
   Appeals made against the Direccion General de Aguas on Friday 3 November, Los
   Pelambres is preparing an appeal to the Chilean Supreme Court to seek a 
   reversal of this decision.

•  Pending a definitive decision on this issue, Los Pelambres is
   continuing with the planned development of the project.


Enquiries - London                                                               Enquiries - Santiago
Antofagasta plc                                                             Antofagasta Minerals S.A.
Tel: [phone]                                                               Tel [phone]
www.antofagasta.co.uk                                                               Francisco Velsoso

                                                                          Email: [e-mail]

Desmond O'Conor
Email: [e-mail]
                                                                                            Issued by
Hussein Barma                                                                    Bankside Consultants
Email: [e-mail]                                                 Tel: [phone]

                                                                                          Keith Irons
                                                                            Email: [e-mail]






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