Reuters reported that Japan's Mitsui has extended USD 1.863 billion loan to world No 1 copper producer Codelco to allow the state miner to buy a 24.5% stake in Anglo American Sur's coveted south central Chile copper assets.

Codelco said that Mitsui and Codelco are interested in exploring mining opportunities together in Chile or internationally.

Earlier mining titans Codelco and Anglo American Plc ended a bruising 10 month long dispute with the global miner agreeing to sell a stake in the properties to its Chilean rival at a discount to the market price.

Codelco also said it would pay for 24.5% stake in Sur while Mitsui & Company Limited would pay for 5%. Their joint venture will acquire 29.5 percent of the assets.

Source - Reuters

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