Los Pelambres Shipments of Copper Concentrates

Antofagasta PLC
14 January 2000


Antofagasta plc

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No. 1627889


First Shipments of Copper Concentrates from Los Pelambres

LONDON: Friday, 14 January 2000 - Antofagasta plc (ANTO.L), the UK-listed
mining group based in Chile, announces that shipments of copper concentrates
began yesterday from its newly built Punta Chungo port facility at Los Vilos. 
The initial shipment of 10,000 tonnes is destined for Japanese smelters. A
second shipment of 25,000 tonnes is scheduled for 20 January.

Production of concentrates at the US$1.36 billion Los Pelambres mine began at
the end of October 1999.  Los Pelambres is expected to reach full production
by March 2000 and will produce thereafter an average of 271,000 tonnes of
copper in concentrates in the first five years and 246,000 tonnes per year
over the 30-year mine life. 
 
Antofagasta holds a 60% equity interest in the mine and the remaining 40% is
held by two consortia of Japanese industrial groups, comprising Nippon Mining
and Metals Co. Ltd, Marubeni Corporation and Mitsui and Co. Ltd. (25%) and
Mitsubishi Materials Corporation and Mitsubishi Corporation (15%).

Antofagasta has a current market capitalisation of approximately £920 million
and in addition to mining operations, its principal activities include rail
and road transportation and water distribution.  It also holds a 33.6%
investment in Quinenco S.A., a diversified industrial and financial group
operating in Latin America and listed in ADR form on the New York Stock
Exchange. 


Enquiries: Antofagasta 
Philip Adeane, Managing Director           Email: [e-mail]
Hussein Barma, Chief Financial Officer            [e-mail]
Neil Herbert, Financial Controller                [e-mail]
                                                  Tel: [phone]
Issued By:
Keith Irons                                  Email: [e-mail]
Bankside Consultants Limited                                                
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