Listed Mining Companies
Chile’s discredited State-owned copper company is behaving like a bull in a foreign-direct-investment (FDI) china shop. Codelco’s mindless brawl with Anglo American is hurting both Chile’s future FDI prospects and also its physical copper production. Not only will mining investors be wary of risking more foreign money in a country that nationalises by stealth, but the acrimonious dispute is also stopping Codelco and Anglo, which are copper-mining neighbours, from mining $2-billion worth of metal in the shared wall between the two deposits, the Financial Times notes. Worse still, a criminal case is now being trumped up against Anglo, which takes this messy fight to a whole new level.
