Chile copper giant Codelco sues Anglo American in fight over mine "I never would have expected this behaviour from a world class company such as Anglo American," said Diego Hernandez, Codelco's chief executive. Anglo American's actions severely compromise the interests of its shareholders. The row ignited when Anglo sold 24.5pc of AAS to Mitsubishi for $5.4bn in November, which it said meant Codelco could now buy only a remaining 24.5pc stake. The surprise sale represented better value for Anglo than a deal with Codelco, but infuriated its rival and Chilean politicians. Codelco insists it is still entitled to buy 49pc and last week formally notified Anglo of its intention to exercise its option in the current January window, which rolls around every three years. Anglo says Codelco's behaviour, including trying to exercise its option "prematurely," means it does not have to sell it anything. The miner declined to comment on the latest move from Codelco. Its shares closed up 80p at £25.18 in London.