Anglo American and Codelco Sign Joint Development Agreement to Add 2.7 Mt of Copper Production

Published: Jun 25, 2026 09:17

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Anglo American and Chile's state-owned miner Codelco have finalized a joint mine plan agreement to integrate the development of their neighbouring Los Bronces and Andina copper operations. Subject to regulatory approvals, the project is expected to add approximately 2.7 million tonnes of copper production over the next 21 years, with average annual incremental output of around 120,000 tonnes of low-cost copper shared equally between the two companies. The partners estimate the collaboration could unlock at least US$5 billion in value by optimizing mine sequencing, sharing infrastructure and improving resource utilization without requiring significant additional capital investment. The agreement is expected to strengthen Chile's position as the world's leading copper producer and support its goal of increasing national copper output to 6 million tonnes by 2030.

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