Anglo American, Codelco to Unlock 2.7 Million Tonnes of Copper Without Developing a New Mine

Anglo American and Chile’s state-owned mining giant Codelco have finalized a landmark agreement that is expected to add 2.7 million tonnes of copper production over the next 21 years without the need to develop a new mine. The collaboration centers on the integration and optimization of the neighboring Los Bronces and Andina copper operations in central Chile.

Under the joint mine plan, the two companies will coordinate mining activities, processing facilities, and infrastructure to boost efficiency and increase output. The project is expected to generate an additional 120,000 tonnes of copper annually, with production and benefits shared equally between Anglo American and Codelco. The initiative is projected to create at least $5 billion in pre-tax value while requiring only minimal additional capital investment.

The agreement leverages the proximity of the Los Bronces and Andina deposits, allowing the companies to maximize existing resources and processing capacity rather than investing in a completely new mining operation. Industry analysts view the partnership as a significant example of how mining companies can increase critical mineral supply through operational collaboration and infrastructure sharing.

The project remains subject to environmental approvals and other regulatory requirements, with full implementation currently expected around 2030. Once operational, the integrated mining district could rank among the world’s largest copper-producing regions, helping meet growing global demand driven by electrification, renewable energy, and electric vehicle manufacturing.

The agreement comes at a time when copper is increasingly recognized as a strategic mineral essential for the global energy transition. By unlocking additional production from existing assets, Anglo American and Codelco aim to strengthen Chile’s position as the world’s leading copper producer while minimizing environmental and capital costs associated with new mine development.