Strong Aftershock In Northern Chile, BHP Says Mines Unaffected

An aftershock measuring 6.3 on the Richter scale close to Antofagasta in northern Chile Friday prompted concerns for further mine disruptions following last weekend's massive earthquake but BHP Billiton Ltd. (BHP) said its operations were unaffected.

London Metal Exchange copper prices rose on the open of electronic trading in Asia, rising to $7,455 a metric ton, up $57.50 on the previous afternoon kerb, reversing some of copper's overnight losses.

BHP's Spence and Escondida mines, located 100 and 300 kilometers away from the epicenter, respectively, are operating normally and there isn't any disruption to the power grid, a BHP spokeswoman said.

Escondida is the world's largest copper mine with output of about 1.2 million tons a year.

Traders noted buying interest in copper miners with operations outside of Chile on the Australian share market, including OZ Minerals Ltd. and Equinox Minerals Ltd., on the back of the quake news.

The 8.8 earthquake on Saturday affected central and southern Chile, while most large mines are located in the country's north. Some copper mines closer to the epicenter closed temporarily, but escaped significant damage, and all operations have reopened.

Repairs to power lines and roads are set to impact smooth operations for some time, however, while the market remains on watch for potentially damaging aftershocks.

-By Elisabeth Behrmann, Dow Jones Newswires; 61-2-8272-4689 [e-mail]