LONDON (ShareCast) - (Sharecast News) - Chilean copper miner Antofagasta said on Friday that it has bought a 19% stake in Peruvian metals company Buenaventura for an undisclosed sum.
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."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE