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Sulphur 417 Mar-Apr 2025

19 March 2025

Anglo and Cochilco to combine operations

CHILE

Anglo and Cochilco to combine operations

Anglo American and Codelco have signed a memorandum of understanding (MoU) with the aim of jointly developing their neighbouring Los Bronces and Andina copper mines in central Chile.

“By putting in place a joint mine plan and optimising the use of our respective processing plants, we believe we can unlock an additional 2.7 million tonnes of copper production over a 21-year period from 2030, alongside other operational synergies made possible by coordinating our activities across the site,” said Anglo American’s CEO Duncan Wanblad. The figure equates to an average of around 128,000 t/a. “Our technical teams have been working together for many years to identify the optimal configuration to unlock the full value of this extraordinary mining district,” he added.

Maximo Pacheco, chairman of state-owned Codelco, said: “Codelco and Anglo American have been good neighbours for decades. This relationship has developed through more than ten cooperation agreements between the two companies over half a century.”

Under the MoU’s terms, they will conduct due diligence with the aim of signing definitive agreements in 2H 2025, subject to securing environmental permits for a joint mine plan and regulatory approvals.

If the proposed combination proceeds, a 50:50 owned operating company will coordinate mine plan execution with the resulting production, value generated, costs and liabilities shared equally between Anglo American and Codelco. They will retain full ownership rights of their assets and continue to operation their concessions separately. Anglo American has signed the MoU through its 50.1%-owned subsidiary Anglo American Sur.

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