Offer Update

Antofagasta PLC
28 April 2006




news release

Antofagasta plc
28 April 2006

       
         Antofagasta reaches 95.97% of Tethyan and closes takeover offer



Antofagasta PLC ('Antofagasta') announces today that its unconditional takeover
offer for Tethyan Copper Company Limited ('Tethyan') closed at 7pm Sydney,
Australia time today.

At the end of the offer period, Antofagasta had a relevant interest in 95.97% of
Tethyan shares. Antofagasta will now be proceeding with the compulsory
acquisition of the remaining shares in Tethyan. Formal compulsory acquisition
notices will be lodged with the Australian regulatory authorities next week.



                              
Enquiries - London            Enquiries - Santiago
Antofagasta PLC               Antofagasta Minerals S.A.
Tel: [phone]         Alejandro Rivera
www.antofagasta.co.uk         Tel: [phone]
                              Email: [e-mail]
Desmond O'Conor   
Email:[e-mail]                     
                       
Bankside Consultants           Enquiries - Australia
Tel: [phone]          N M Rothschild & Sons (Australia) Ltd 
Mob: [phone]          (financial advisers)
                               Tel: [phone]
Keith Irons                    Marshall Baillieu
Email: [e-mail]      Chris Forman
             
Jackson Wells Morris (public relations advisers)
Tel: [phone]
Benjamin Haslem
Jakob Webster




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