Reuters reported that Anglo American Plc and Codelco will ask for a second extension to mid August of negotiations to end a row over disputed assets.

Investors are watching closely to see if state owned copper giant Codelco and Anglo will hash out an agreement or whether they will plunge back into a courtroom showdown that could drag on for years.

Codelco said that the negotiations between the two firms continue and therefore there is still no deal between the parties. To have more time to explore the possibility of an agreement both firms have agreed to solicit that the conciliation session be extended to mid August. The miners had already asked a local court to extend their negotiation window to July 17th from June 22nd 2012.

Mr Gerardo Jofre chairman of Codelco said that the firms aimed to reach a deal by their self imposed deadline of July 17th 2012.

Source - Reuters

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