Post by ukipa on May 25, 2012 19:11:02 GMT 4
Codelco Says Hernandez Resigns as CEO of Top Copper Miner
Codelco, engaged in a dispute with Anglo American Plc over the world’s fifth-largest copper mine, said its chief executive resigned in the same week as the companies resumed talks to seek an out-of-court settlement.
Diego Hernandez, a former BHP Billiton Ltd. (BHP) executive, will leave Codelco after two years in the job for personal reasons, the state-owned company said in a statement on the Chilean securities regulator’s website yesterday. Chief Financial Officer Thomas Keller will replace Hernandez.
The announcement comes two days after Anglo and Codelco halted legal proceedings to seek an agreement over terms of a 2002 contract that gave Codelco an option to buy a stake in Anglo assets at a below-market price. Mining Minister Hernan de Solminihac said Hernandez’s departure won’t affect negotiations.
Read full article...
www.bloomberg.com/news/2012-05-24/codelco-says-hernandez-resigns-as-ceo-of-top-copper-miner.html