Codelco and Anglo American Unite to Boost Chilean Copper Output

Codelco

Andina and Los Bronces to Jointly Target 1 Million Tonnes by 2030s

Strategic Collaboration Taps 60mn t of Contained Copper in the Andes

Codelco, Chile’s state-owned copper giant, has signed a memorandum of understanding with Anglo American’s 50.1%-owned AAS subsidiary to integrate operations at the Andina and Los Bronces mines. This joint strategy will target a combined production increase of 120,000 tonnes of fine copper per year from 2030 through 2051.

Ambitious Output Plan Sets 2030s Benchmark

According to Anglo American CEO Duncan Wanblad, the collaboration lays a clear pathway to producing over 1 million tonnes of copper annually by the early 2030s, representing a 30% increase from current output. This positions both firms as key players in meeting the world's growing copper demand driven by energy transition and electrification.

Together, Los Bronces and Andina account for 60 million tonnes of contained copper, or roughly 2% of global copper resources and reserves, underscoring the strategic weight of the partnership.

Staggered Output Performance Precedes Consolidation

In 2023, Los Bronces produced 172,000 tonnes, marking a 20.4% drop following a temporary care and maintenance phase starting in July. Meanwhile, Andina produced 181,600 tonnes, a 10% increase year-over-year, according to Chile’s Cochilco.

Despite these fluctuations, the integration plan remains on track. The companies expect to sign a definitive operational agreement in the second half of 2025, with current mine operations continuing uninterrupted until then.

This deal marks a significant shift toward operational consolidation in one of the world’s richest copper belts. It aims to improve efficiency, secure long-term output, and reinforce Chile’s dominance in the global copper market amid rising supply chain concerns.