# Anglo American and Codelco copper mining alliance

> Live situation record from CLSTR: https://clstr.news/situations/anglo-american-and-codelco-copper-mining-alliance
> Updated: 2026-08-18T15:41:20.000Z. Sources: 15. Developments: 2.

Anglo American and Codelco are advancing a strategic alliance to integrate the Andina and Los Bronces copper deposits in Chile. To lead this coordination, Anglo American appointed Benjamín Martinich as Vice President of Integration, effective September 1.

The Joint Mining Plan aims to increase copper production by approximately 120,000 tonnes annually, totaling 2.7 million tonnes over a 21-year period. By optimizing infrastructure and adjacent resources, the partnership expects to reduce unit costs by roughly 15% and generate at least US$5 billion in incremental pre-tax value, to be shared equally between the two companies.

Following the initial organizational steps, the joint venture has received regulatory approval from authorities in Chile, China, Brazil, and South Korea. The partnership intends to create a joint operating company to develop the Andina-Los Bronces mining district. If production targets are met between 2030 and 2051, the integrated district could become one of the five largest mining operations globally.

## Claims

- Lundin Mining reduced its 2026 copper production guidance for the Caserones mine. (corroborated by 2 sources)
- The Caserones copper production projection for 2026 was revised from 130,000–140,000 tonnes to 120,000–130,000 tonnes. (corroborated by 2 sources)
- Severe winter storms in the Atacama region caused unplanned inactivity at the Caserones mine. (corroborated by 2 sources)
- The Caserones copper cash cost projection was revised to a range of US$2.15/lb to US$2.35/lb. (corroborated by 2 sources)
- The company's consolidated copper production projection is now 300,000 to 325,000 tonnes. (corroborated by 2 sources)
- Candelaria is still expected to meet its annual production projection. (corroborated by 2 sources)

## Timeline

### 2026-08-18: Lundin Mining cuts Caserones copper production forecast due to storms

Lundin Mining reduced its 2026 copper production forecast for Chile's Caserones mine to 120,000–130,000 tonnes due to severe winter storms in the Atacama region.

11 sources. https://clstr.news/cluster/codelco-and-anglo-american-advance-mining-alliance

### 2026-08-11: Anglo American appoints Benjamín Martinich to lead Andina-Los Bronces integration

Anglo American appointed Benjamín Martinich to lead the integration of the Andina-Los Bronces copper alliance with Codelco, a move expected to boost copper production and reduce operational costs.

5 sources. https://clstr.news/cluster/anglo-american-appoints-benjamn-martinich-to-lead-andina-los-bronces-integration

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Cite as: Anglo American and Codelco copper mining alliance. CLSTR, https://clstr.news/situations/anglo-american-and-codelco-copper-mining-alliance