Annual Report 2007 - Antofagasta plc

38 Contingent Assets and Contingent Liabilities continueda) Los Pelambres – Mauro tailings dam continuedweek and Los Pelambres was neither notified of nor represented in the hearing. The court also notifiedLos Pelambres of an order to suspend those works which directly affect the Pupio stream. Los Pelambresbelieves that it has obtained all the necessary approvals and permits for the construction of the Mauro tailings,which was 98.5% complete at the end of 2007.(iv) There are other claims at first instance currently in the Chilean courts against governmental authorities.These claims are not against Los Pelambres, but in some cases the company has intervened in case aneventual judgement affects the project.Current operations are unaffected as the Quillayes dam which is expected to have capacity until early 2009remains in use.b) Tethyan Copper Company Limited – Chagai Hills Exploration Joint VentureOn 26 June 2007 the High Court of Balochistan at Quetta dismissed a petition which had sought to declarethat the Chagai Hills Exploration Joint Venture of 1993 and the exploration licences granted to Tethyan werenull and void and overturned an injunction passed earlier by the Court. The petition had been filed in November2006 and was directed at several parties including the Group, the Government of Pakistan and the Governmentof Balochistan.The petitioners have filed a Civil Petition for Leave to Appeal (“CPLA”) against the judgment and this will beheard by the Supreme Court to decide whether the appeal should be heard on its merits.c) Equatorial Mining Limited – ErrigalIn July 2006, Equatorial Mining Limited (“Equatorial”) received notice of a claim by Errigal Limited in theNew South Wales Supreme Court. Errigal claims that it is a former minority shareholder in one of Equatorial’ssubsidiaries whose interest was acquired by Equatorial in 1993. The claim is for amounts payable under the1993 acquisition agreement. The Group does not agree with the interpretation of the 1993 agreement advancedby Errigal and the action will continue to be defended vigorously.39 Ultimate Parent CompanyThe immediate parent of the Group is Metalinvest Establishment, which is controlled by E. Abaroa Foundation,in which members of the Luksic family are interested.Both Metalinvest Establishment and the E. Abaroa Foundation are domiciled in Liechtenstein. Informationrelating to the interest of Metalinvest Establishment and the E. Abaroa Foundation are given in the Directors’Report on page 62.FINANCIAL STATEMENTSAntofagasta plc Annual Report and Financial Statements 2007 133