Anglo American Codelco Joint Mine Plan Targets 2.7mn t of Additional Copper

Anglo American, Codelco

Anglo American Codelco joint mine plan has cleared another major milestone after both companies completed their agreement to coordinate development of the adjacent Los Bronces and Andina copper operations in Chile.

Anglo American Codelco joint mine plan is expected to unlock an additional 2.7mn t of copper over 21 years from 2030, equivalent to around 120,000 t/yr of extra combined production.

Anglo American Codelco joint mine plan also targets at least $5bn in cost savings by optimising development across the two neighbouring assets rather than treating them as completely separate operations.

The agreement strengthens Chile’s effort to lift national copper output toward 6mn t/yr by 2030 while reducing the need to develop an entirely new greenfield mine.

Los Bronces-Andina Integration Could Unlock Low-Risk Copper Growth

Los Bronces and Andina are geographically adjacent, creating an unusual opportunity to coordinate mine planning across two large existing copper operations.

This type of integration can improve ore sequencing, reduce duplicated infrastructure and allow both operators to optimise access to resources near their respective boundaries.

The resulting 120,000 t/yr production increase is significant because new copper supply has become increasingly difficult to develop quickly.

Large greenfield projects require long permitting periods, major infrastructure spending and substantial capital. By contrast, brownfield optimisation can add tonnes using existing mines, processing capacity and logistics systems.

Anglo American has already reported stronger performance at Los Bronces. First-quarter output rose by 12% to 48,500t after the restart of its second processing plant.

The joint plan could build on that improvement and support a more stable long-term production profile from the district.

Cost Savings Strengthen Chile’s Copper Competitiveness

The agreement is expected to save at least $5bn over its life, giving both companies a stronger cost position as ore grades decline and operating expenses rise across the global mining industry.

The plan will also include sustainability safeguards consistent with existing environmental commitments.

Implementation still depends on environmental approval and other customary conditions, with completion targeted around 2030.

The structure preserves flexibility for both companies to pursue standalone projects alongside the joint mine plan.

That includes Anglo American’s proposed merger with Teck, which would create the Anglo Teck Group with exposure across copper, zinc and iron ore.

For Chile, the agreement is strategically important because the country needs to increase output from existing districts while also advancing new projects.

If implemented successfully, Los Bronces-Andina could become a model for how neighbouring assets can generate additional supply through cooperation rather than entirely new mine development.

The Metalnomist Commentary

The biggest advantage of the Los Bronces-Andina plan is that it unlocks meaningful copper supply from an existing mining district rather than relying on a new greenfield project. In a market short of fast, low-risk growth options, 120,000 t/yr of additional copper from shared infrastructure is strategically valuable.