Global miner Anglo American said on Monday it was not obliged to sell any of its shares in its southern Chilean properties to state copper giant Codelco, as a battle over a disputed option contract deepened.

Anglo American said Codelco sent it a letter on Monday saying it was ready to buy a smaller stake than the 49 percent stake it says it is eligible to buy. Anglo American had previously argued Codelco only had a right to buy a 24.5 percent stake after the sale of a similar-sized stake to Japan's Mitsubishi <8058.T>.

However, in December Anglo then filed a writ against Codelco accusing it of breach of contract and seeking to avoid the option altogether.

(Reporting By Simon Gardner; Editing by David Gregorio)