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Published on 11th November 2011
Updated 24th November 2011

The State-owned Chilean copper miner Codelco, under CEO Diego Hernandez, could consider diversifying into corporate mugging. After all, Codelco will have gained good experience from the mugging job it as done on Anglo Sur, and consequently Anglo American shareholders. Codelco could also consider pulling in the government of Chile as its partner in crime on a permanent basis. It could also appoint Mitsui as the ongoing receiver of nicked goods. After all, once Codelco forces Anglo into a forced multi-billion-dollar discount sale, the Chilean government is in turn going to nick a further billion dollars off Anglo shareholders in capital gains tax. Through this diversification into corporate mugging as a full-time occupation, Codelco could do wonders for its sagging copper output, obtain interest-free capital to fund its ageing mines and have the wherewithal to pour more dividends into the pockets of the people of Chile. Never mind about South Africa’s pension and provident fund investors in Anglo. After all, they’re not Chileans.

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