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Anglo American to walk away from Chile copper mine if no permit

Reuters - UK Focus

LONDON, Feb 21 (Reuters) - Anglo American (LSE: AAL.L - news) will walk away from its El Soldado copper mine in Chile (Stuttgart: 704599.SG - news) if it cannot agree a permit for a redesign of the operation, Chief Executive Mark Cutifani said on Tuesday.

The group hopes it will get regulatory approval for the mine in three to four weeks, but if a satisfactory permit cannot be agreed, "we won't continue going forward with the operation", he told a results presentation.

Anglo said last week it had temporarily suspended operations at the mine after failing to get regulatory approval for the redesign. (Reporting by Eric Onstad; editing by Jason Neely)