Anglo American, via its 50.1%-owned subsidiary Anglo American Sur (AAS), and Codelco have completed a definitive agreement to carry out a joint mine plan for their Los Bronces and Andina copper mines in Chile.
This development follows receipt of the necessary competition and regulatory approvals, as well as the fulfilment of other required conditions.
The companies signed the agreement in September 2025.
The planned collaboration is expected to generate an additional 2.7 million tonnes (mt) of copper over a 21-year period, averaging an extra 120,000t per year.
Anglo American CEO Duncan Wanblad said: “Our agreement with Codelco demonstrates what is possible when we work in partnership to unlock compelling industrial synergies – delivering significant value and more copper tonnes for both companies and for Chile.
“The next important milestone for Los Bronces-Andina is the timely receipt of the permits, which will allow us to begin delivering the additional volume and value that we are targeting, for the benefit of all our stakeholders, and for Chile.”
Final implementation of the joint mine plan remains subject to the receipt of relevant environmental permits and other customary requirements, with completion currently anticipated by 2030.
Under the terms of the agreement, Anglo American and Codelco will retain the option to pursue their own stand-alone projects during the period, including development of their respective underground resources, in a coordinated manner.
Codelco chairman Bernardo Fontaine said: “This agreement represents a more efficient and responsible way to develop one of the world’s leading copper districts. It allows us to make better use of existing infrastructure, capture greater benefits for Chile, and move forward with a long-term vision based on operational excellence, sustainability and the responsible use of resources.
“It is a tangible example of how collaboration can generate greater value without compromising the thoroughness, discipline and commitment that Codelco demands today.”
