The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.
The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).
Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange jointly with Thomson Reuters, U.S. derivatives bourse Intercontinental Exchange, the London Metal Exchange and broker ICAP's online platform EBS will present their proposals this Friday.