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Codelco divests 37% stake in Chilean natural gas plant for US$193.5M

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Codelco divests 37% stake in Chilean natural gas plant for US$193.5M

Codelco agreed to divest its 37% stake in the GNL Mejillones natural gas plant in Chile for US$193.5 million to the Ameris Capital AGF fund, Reuters reported Aug. 7.

The sale of the plant, controlled by a unit of French company Engie SA, allows the Chilean state miner to focus on its core copper business and strengthen its position to finance part of its project portfolio.

Previously, the copper miner flagged a delay to the restart of its Chuquicamata copper smelter to the end of October.