Anglo American expects its Chilean copper production to increase this year

SMM11, 28 Feb: Anglo American has increased its copper production guidance for its Chilean operations this year to 660000 tons from its previous forecast of 630000 tons, in accordance with its planned expansion of its Los Bronces and Collahuasi mines. By 2020, the company expects copper production to be between 620000 and 680000 tons, compared with 600000 to 660000 tons previously. In 2021, Anglo American released its first production guidelines for the period, pegging it to between 590000 and 650000 tons.

And Anglo American is also refocusing its business development on Africa in order to acquire more powerful mineral assets. The legendary mining company, founded in Johannesburg a century ago by Ernest Oppenheimer (Ernest Oppenheimer), is currently devoting 1/3 of its exploration budget to the African continent, including the search for copper and cobalt in Angola and Zambia. In South Africa, it is investing in platinum, diamonds and iron ore, mines that are making a profit for the company. The London-based company believes Africa can provide a new ore portfolio, even if BHP and Rio Tinto largely avoid the continent and focus on returning cash to shareholders.

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