Chile's Codelco to reinvest $1 bln from E-CL sale

SANTIAGO Fri Jan 7, 2011 11:43am EST

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SANTIAGO Jan 7 (Reuters) - Chile's state copper miner Codelco [CODEL.UL] will reinvest the proceeds from the sale of its roughly $1 billion stake in energy firm E-CL (EDN.N), the head of Codelco's board, Gerardo Jofre, said Friday.

Jofre said he expects the sale will take two to three months. (Reporting by Moises Avila; Editing by John Picinich)