LONDON (dpa-AFX) - Miner Antofagasta Plc. (ANFGY.PK, ANTO.L) announced Monday that it has signed an agreement to sell Minera Michilla SA to Haldeman Mining Co. SA. for a total consideration of $52 million.
The decision was taken following the closure of the Michilla mine at the end of 2015.
The sale includes the open pit mine, the underground mine, the cathode production plant and various mining properties.
Antofagasta said it will retain the acid terminal and other facilities located at Caleta Michilla, which are currently used by its Centinela and Antucoya mining operations.
Antofagasta, which acquired Michilla in 1992, announced at the end of 2014 its decision to close its operations at Michilla on December 31, 2015 as the reserves were insufficient to sustain and justify a large-scale mining operation.
Annual copper production in 2015 was 29,400 tonnes, with record production of 52,730 tonnes being achieved in 2003.
Haldeman Mining is a medium sized Chilean mining company that produces copper and gold in Chile.
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