| SANTIAGO, April 27
SANTIAGO, April 27 BHP Billiton
is advancing with the sale of its small Cerro Colorado copper
mine in Chile and there are a number of interested parties,
although finalizing the deal will likely take some months, the
mine's union said on Thursday.
BHP management updated union leaders on the planned sale of
the mine this week, ahead of planned visits to the deposit by
potential buyers, union leader Marcelo Franco said in an
BHP declined to comment.
Cerro Colorado produced 74,000 tonnes of copper last year
out of top exporter Chile's total 5.5 million. Located in the
extreme north of the country's copper belt, it has permission to
operate until 2023 but that could be extended.
"(The sale) is already pretty well advanced, but they said
it could last some months," said Franco.
Franco said he did not know the identity of the interested
parties. Traders have mentioned Chile's Empresas Copec SA
, a conglomerate that has voiced interest in
diversifying into copper, and Canadian companies such as Lundin
Mining Corp, as possible buyers.
He said the union had a positive attitude toward a future
deal as workers' benefits were legally assured and it felt BHP
was more focused on its larger Chilean assets, Spence and
Escondida - the world's biggest copper mine.
(Reporting by Fabian Cambero; Writing by Rosalba O'Brien;
Editing by Matthew Lewis)