Appointment of Jorge Bande NEWS RELEASE, 21 January, 2015 COMPLETION OF DULUTH ACQUSITION

Antofagasta plc is pleased to announce that its wholly-owned subsidiary, Antofagasta Investment Company Limited ("Antofagasta"), has obtained all the necessary approvals and applications to complete the acquisition of Duluth Metals Limited ("Duluth") previously announced on 3 November 2014.
Under the terms of the agreement Antofagasta acquired all the shares of Duluth for an all cash consideration of C$0.45 per share, approximately C$53 million. The acquisition of Duluth by Antofagasta consolidates Antofagasta's ownership in the Twin Metals Minnesota Project ("TMM") to 100%. The TMM Project is a copper-nickel-platinum-palladium-gold- silver project in the Duluth Complex in north-eastern Minnesota, USA.
Diego Hernandez, CEO of Antofagasta plc, commented:
"The completion of the Duluth acquisition is a positive next step in building the company's long term growth pipeline. The Duluth Complex is an attractive geological deposit and now the pre-feasibility study is complete, we will focus on further optimisations of the project and advance the permitting process."

Investors - London Media (Brunswick)

Andrew Lindsay

alindsay@antofagasta.co.uk

Carole Cable

antofagasta@brunswickgroup.com

Paresh Bhanderi

pbhanderi@antofagasta.co.uk

Robin Wrench

antofagasta@brunswickgroup.com

Telephone

+44 20 7808 0988

Telephone

+44 20 7404 5959

Investors - Santiago

Alejandro Rivera

arivera@aminerals.cl

Telephone

+56 2 2798 7000

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