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Michele Maatouk Sharecast News
15 Dec, 2023 15:45

Antofagasta buys 19% stake in Peru’s Buenaventura

dl antofagasta mining miners workers ftse 100
AntofagastaCompany photo / Antofagasta

Antofagasta

1,664.00p

17:15 07/01/25
1.87%
30.50p

Chilean copper miner Antofagasta said on Friday that it has bought a 19% stake in Peruvian metals company Buenaventura for an undisclosed sum.

FTSE 100

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17:14 07/01/25
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FTSE 350

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FTSE All-Share

4,484.17

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Mining

10,583.04

17:14 07/01/25
0.98%
102.93

Buenaventura is Peru's largest, publicly-traded precious and base metals company and a major holder of mining rights in Peru.

Antofagasta said the investment is in line with its strategy of prioritising exploration and investment in the Americas.

Chairman Jean-Paul Luksic said: "Our investment demonstrates the significant potential we see in Buenaventura's asset portfolio.

"We are excited by the prospect of working together with Buenaventura to realise that potential, in a way that maximises value for Buenaventura and its stakeholders and is consistent with responsible and sustainable operation and engagement with communities, employees, customers, suppliers, regulators and other stakeholders."

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