Antofagasta Regulatory News (ANTO)

24 Feb 2006 07:02

Antofagasta PLC24 February 2006 news release For immediate release: 24 February 2006 Antofagasta plc Antofagasta announces purchase of 8.94% interest in Tethyan London, 24 February 2006: Further to its announcement on 14 February 2006 of arecommended cash offer for Tethyan Copper Company Limited ("Tethyan"),Antofagasta PLC ("Antofagasta") is pleased to announce that it has today filedwith the Australian Stock Exchange a Notice of Initial Substantial Holder whichdiscloses the purchase by Antofagasta of 11,842,910 Tethyan shares in the marketbetween 20 and 23 February 2006. This represents an interest of 8.94% inTethyan's issued share capital. Antofagasta's Bidder's Statement is expected to be lodged with the AustralianSecurities and Investment Commission and to be dispatched to Tethyan shareholders as soon as practicable. Rothschild is advising Antofagasta in relation to this transaction. Enquiries - London Antofagasta PLCTel: +44 20 7808 0988www.antofagasta.co.ukDesmond O'ConorEmail: doconor@antofagasta.co.uk Bankside ConsultantsTel: +44 20 7367 8873 / +44 7885 356 639Keith IronsEmail: keith@bankside.com Enquiries - Santiago Antofagasta Minerals S.A.Alejandro RiveraTel: +562 377 5145Email: arivera@aminerals.cl Enquiries - Australia N M Rothschild (Australia) Ltd (financial advisers)Tel: +61 2 9323 2000Marshall BaillieuChris Forman Jackson Wells Morris (public relations advisers)Tel: +61 2 9904 4333Benjamin Haslem Details of on-market purchases of Tethyan shares Date of acquisition Consideration Number of--------------------- ------------ shares -------------- 20 February 2006 A$5,167,491 4,310,55321 February 2006 A$823,613 689,44723 February 2006 A$8,208,755 6,842,910 About Antofagasta PLC Antofagasta PLC is a Chilean-based mining group listed on the London StockExchange and is a constituent of the FTSE-100 index. Its principal mining assetsinclude the Los Pelambres, El Tesoro and Michilla mines and the Esperanza copperproject. In addition to copper mining, Antofagasta's interests include rail androad transport operations and water distribution. About Tethyan Copper Company Limited Tethyan is a company listed on the Australian Stock Exchange. Its principalassets are a 75% interest in the exploration licence encompassing the highlyprospective Chagai Hills region of North West Pakistan known as Reko Diq, whichincludes the Tanjeel Mineral Resource and the Western Porphyries, and a 100%interest in certain other licences in the region. This mining district hostssignificant copper-gold porphyry deposits as part of an extended copper-goldbelt. Tethyan has reported total indicated and inferred mineral resourceestimates at these properties of 2.4 billion tonnes with a copper grade of 0.51%and a gold grade of 0.27 grams per tonne. The resource estimates includeprobable reserves at the Tanjeel Mineral Resource of 128.8 million tonnes with acopper grade of 0.7%. Reserve and resource estimates have been reported byTethyan to JORC standards. Tethyan had gross assets of A$28.8 million as at 30June 2005 and reported a net loss of A$1.7 million for the year ended 30 June2005. This information is provided by RNS The company news service from the London Stock Exchange