LONDON, Aug 20 (Reuters) - Chilean miner Antofagasta named insider Diego Hernandez as its new chief executive to take over the running of the company from Jean-Paul Luksic, who retains his role as chairman but in a non-executive capacity.
Hernandez joined the company in 2012 and was formerly chief executive of the group’s mining division.
Antofagasta said in a statement that the changes, which take effect from Sept. 1, follow Luksic’s desire to step back from the day-to-day operation of the company.
The copper miner is due to invest $3 billion over the next five years in an effort to increase its output to 900,000 tonnes by 2018 from about 700,000 tonnes currently.
Reporting by Sarah Young, Editing by Paul Sandle