Codelco bids $500m for stake in key Chilean copper mine

Chile’s Codelco, seeking to retain the title of world’s top copper supplier, made a $500-million offer to buy a stake in a mine run by Teck Resources, people with knowledge of the matter said.

The proposal to acquire a 10% stake in the Quebrada Blanca mine from fellow state firm Enami is before the latter’s board, said the people, asking not to be named commenting on a deal that’s yet to be made public. La Tercera, a Chilean newspaper, reported in July an offer was in the works.