Canada is proving the place to be ....... http://www.bloomberg.com/news/2011-11-17/codelco-says-anglo-american-s-future-in-chile-is-at-risk-1-.html

Anglo American Plc (AAL) is risking its future in the world’s largest copper producing nation by denying Chile’s state-owned Codelco a 49 percent stake in its Sur unit, said Diego Hernandez, Codelco’s chief executive officer.

Anglo, part owner of the world’s biggest platinum and diamond producers, last week moved to block Codelco from exercising an option to buy 49 percent of its Chilean copper unit by selling a stake to Mitsubishi Corp. for $5.39 billion. Codelco is taking legal action against Anglo to protect the option.

Anglo wasn’t allowed to sell the 24.5 percent stake to Mitsubishi because Codelco had already started a process to buy 49 percent of Sur, Hernandez told reporters in Santiago today. Rather than defending the rights of its shareholders, Anglo American is putting its future in Chile at risk, he said.

The London-based company “made a mistake” in selling the share, he said.

The Santiago-based company was granted an injunction on Nov. 15 to prevent Anglo from selling additional stakes in the Sur unit.

Anglo will continue to invest in Chile, where it has spent $6.5 billion since 1980, the company said in a Nov. 9 statement announcing its sale to Mitsubishi. Anglo jointly operates Collahuasi, the world’s third-largest copper mine, in northern Chile with Xstrata Plc.