Anglo American new CEO will develop Quellaveco copper mine in Peru

SMM1, April 4: Anglo American, the world's largest mining company, announced on Thursday that its chief executive in Brazil, Rubens Fernandes (Ruben Fernandes), will replace mining veteran Wilfred (Bill) Bruijn from March 1. Fernandes will lead Anglo American's iron ore and nickel operations in South American countries for nearly three years and will become chief executive of Base Metals. The position is currently held by Duncan Wanblad, who will now focus on his role as director of the Strategy and Business Development Group, the group said in a statement.

Anglo said the changes announced today were based on the group's decision to separate the management of its global base metals business from strategic and business development activities.

"as we move forward with the transformation of Anglo's performance to unleash our full potential, it is appropriate for us to assign responsibility for the implementation of these two important portfolios," said Mark Cutifani, chief executive.

In his new position, Fernandes will work closely with the Chilean Copper team to develop the Quellaveco copper project in Peru. In his new position, Fernandes will also join the Anglo American Management Committee.

Due to growing demand for power generation and electric vehicles, demand for copper is expected to grow rapidly by 2020, so mining companies are vying for large copper projects.

Last year, the search for new copper deposits became a top priority for major mining companies, including BHP Billiton, the world's number one mining company, and Newcrest Mining, Australia's largest gold producer.

Production in mines in the world's top copper business in 2007 is now 10% to 15% lower than it was 12 years ago, and analysts expect the trend to continue.

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