Antofagasta to exit Chilean hydropower project -reports

SANTIAGO, Jan 19 (Reuters) - Chilean copper miner Antofagasta (Other OTC: ANFGF - news) is in talks for an imminent exit from its interest in the Alto Maipo hydroelectric power project, local media reported on Thursday.

Antofagasta Minerals has a 40 percent stake in the project, located just outside the capital, Santiago, and the object of frequent protests by residents of the Maipo river valley.

London-listed Antofagasta, controlled by Chile (Stuttgart: 704599.SG - news) 's wealthy Luksic family, signed up to Alto Maipo in 2013, seeking to secure power for its Los Pelambres mine. The rest is held by AES Gener, the Chilean arm of U.S. power group AES Corp .

Last October, Antofagasta said it was reconsidering its position on Alto Maipo, after AES said the budget for the $2 billion project could rise between 10 and 20 percent after construction difficulties.

Antofagasta had lost patience with the issues linked to Alto Maipo, at the same time as other projects emerged to supply Los Pelambres, local newspaper La Segunda reported.

It said the company could receive the green light from its bankers to exit as soon as Thursday, leading shares in AES Gener to fall 4.8 percent.

Antofagasta declined to comment. (Reporting by Felipe Iturrieta and Fabian Cambero; Writing by Rosalba O'Brien; Editing by Peter Cooney)