Huge earthquake hits off the coast of Chile

|By:, SA News Editor

A massive 8.2 magnitude earthquake has struck off the northwest coast of Chile, causing a 2 meter high tsunami, killing at least five people and leading to much damage.

While hundreds of thousands of people have been evacuated from the affected areas, mining operations in the region appear to be relatively unaffected.

Companies with interests in the area include Anglo American (AAUKF) and Glencore Xstrata (GLNCY), which operate the huge Collahuasi mine near the border with Bolivia. Workers were evacuated, but the mine doesn't seem to have been damaged. Teck Resources (TCK) and Codelco, the world's biggest copper producer, also own interests in the region.

Copper futures jumped following the earthquake but then fell back, and are +0.3% to $3.048 a pound.