Anglo American and Codelco Sign Joint Mining Deal in Chile

Anglo American, through its subsidiary Anglo American Sur S.A., and Chilean state miner Codelco have finalized a definitive agreement to implement a Joint Mining Plan for the Los Bronces and Andina copper mines. After obtaining all required regulatory and competition approvals, the partnership aims to unlock an additional 2.7 million tonnes of copper over a 21‑year horizon, roughly 120,000 tonnes per year, with minimal capital investment. The plan is projected to generate about US$5 billion in pre‑tax incremental value, to be shared between the two companies.

The implementation depends on securing the necessary environmental permits, expected no later than 2030. Anglo American CEO Duncan Wanblad highlighted the collaboration’s potential to deliver high‑impact industrial synergies and boost Chile’s copper output toward its 6 million‑tonne target by 2030. Codelco Chairman Bernardo Fontaine emphasized the efficiency and responsibility of the joint approach, noting its alignment with operational excellence, sustainability, and fiscal maximisation for the Chilean treasury.