/ 12 April 1999

ANGLO AND CHILE IN ZAMBIA?

ANGLO American Corporation has been in contact with Chile’s state-owned Codelco, the world’s largest copper producer, about joining up to exploit state-owned Zambia Consolidated Copper Mines. Anglo chairman and CEO Julian Ogilvie Thompson said on Thursday that Anglo expects to make a decision in the second quarter of this year about who will be its associate. Anglo agreed in January to acquire the Nkana, Nchanga and Konkola divisions and other assets from ZCCM. The deal, which would need heavy capital spending to revive Zambia’s struggling mines, has several conditions, including Anglo’s finding a partner.