Project Update

Antofagasta PLC
12 December 2006

                                 Antofagasta plc

              Minera Los Pelambres - El Mauro tailings dam project

LONDON: 12 December, 2006 - Antofagasta plc ('Antofagasta') reports that on
Monday 11 December, the Court of Appeals of Santiago rejected a request by
claimants in the Pupio Valley that work on the Mauro tailings dam should cease
immediately following the Court's earlier decision. The Mauro tailings dam is a
development project of Antofagasta's 60%-owned subsidiary, Minera Los Pelambres
('Los Pelambres').

Antofagasta previously reported that on 3 November the Court of Appeals had
upheld a petition by these claimants against the Chilean water authority, the
Direccion General de Aguas, in relation to the award of certain permits for the
construction of the Mauro tailings dam. Los Pelambres, as a party affected by
the decision, and the Direccion General de Aguas have appealed to the Chilean
Supreme Court.

Los Pelambres continues to believe that it has received all the necessary
technical and legal permits and, following the decision yesterday, will continue
with the planned development of the project.

END

Enquiries - London                                                      

Antofagasta plc 
www.antofagasta.co.uk   
Tel: [phone]  

Desmond O'Conor
Email: [e-mail]     

Hussein Barma
Email: [e-mail]     


Enquiries - Santiago

Antofagasta Minerals S.A.
Tel: [phone]
       
Francisco Veloso
Email:[e-mail]


Issued by Bankside Consultants                                                                
Tel: [phone]
Keith Irons                                                  
Email: [e-mail]                                                                         

                                 



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