February 16, 2009 / 7:46 AM / 10 years ago

UPDATE 1-Antofagasta unit buys desalination plant

* Unit to buy desalination plant in Chile

* Purchase to have no impact on water volumes, sales

* Completeion expected in Q1

(Adds details)

LONDON, Feb 16 (Reuters) - Copper miner Antofagasta Plc (ANTO.L) said on Monday a unit has agreed to buy a desalination plant in the city of Antofagasta in Chile from Desalant S.A. for about $52.5 million.

As part of this agreement, on-going arbitration proceedings between the subsidiary — Aguas de Antofagasta S.A. — and Desalant will also be terminated, Antofagasta said.

ADASA will operate the plant but the acquisition will have no direct impact on water volumes or sales as ADASA is the sole customer. The purchase is expected to be completed in the first quarter.

Reporting by Julie Crust

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