SANTIAGO (Reuters) – Chilean state-run copper miner Codelco said on Monday that it had reached an agreement with BHP for the multinational firm to explore the “Anillo” mining property.
BHP will spend up to $40 million to explore the area, Codelco said in a statement.
BHP could form a tie-up with Codelco to mine there if there is evidence of a favorable business case, Codelco added.
(Reporting by Fabian Cambero; Editing by Brendan O’Boyle)
