Chile clears Codelco–Anglo American joint mining plan
Copper major Codelco and diversified miner Anglo American have received approval from Chile’s antitrust regulator for their planned joint operation of the adjacent Andina and Los Bronces mines.
The approval from the National Economic Prosecutor’s Office follows earlier clearances from China, Brazil and South Korea.
The two companies in September signed an agreement to jointly develop and operate the neighbouring assets, aiming to optimise the exploitation and processing of resources through integrated mine planning and shared infrastructure.
The joint plan is expected to lift production by about 120 000 t/y of copper fines between 2030 and 2051, unlocking an additional 2.7-million tonnes of copper over the period. The increase is expected to be achieved at lower unit costs and without significant additional capital investment.
“The agreement with Anglo American will unlock greater potential in the Andina-Los Bronces district and generate value for decades to come,” said Codelco chairperson Máximo Pacheco.
The companies estimate the initiative will generate at least $5-billion in additional pre-tax value through operational synergies in one of the world’s most significant copper districts.
Pacheco added that the companies were progressing implementation, including advancing environmental permitting and establishing a dedicated entity to coordinate the joint mining plan, responsible for optimising mining planning and the use of processing capacity at both sites.
“The development of the Andina-Los Bronces district is one of the most important mining collaboration initiatives in Chile in recent decades and seeks to maximise the value of two adjacent operations through an integrated long-term vision, contributing to strengthening the strategic role of Chilean copper in the world,” he stated.
