Anglo American Urges Chile to Expedite Approvals to Fill Copper Supply Gap

Published: Apr 9, 2025 09:58

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On Tuesday, April 8, Patricio Hidalgo, CEO of Anglo American Chile, stated that Chile needs to accelerate approvals to expand its copper mining before the supply gap widens in the coming years. Chilean President Gabriel Boric had previously promised to reduce approval times by one-third, but Congress is still discussing a reform aimed at streamlining the approval process. Chile accounts for about a quarter of global copper supply, and many mining companies in the country are urging faster approvals. Anglo American, one of the world's largest mining companies, operates the Los Bronces copper mine in Chile and holds a 44% stake in the Collahuasi copper mine. Hidalgo noted that due to the energy transition, emerging economies, and digitalization, copper demand in 2040 is expected to be equivalent to the output of 80 Los Bronces mines. The Los Bronces mine produced 172,000 mt of copper in 2024. He said, "When people see this kind of demand or structural gap in the copper market, we need to bring copper supply to the market more quickly." He also pointed out that collaboration could help maximize production, such as the recent agreement between Anglo American and Codelco to share infrastructure between the Los Bronces mine and the nearby Andina copper mine. Kathleen Quirk, CEO of Freeport-McMoRan, mentioned this agreement on Tuesday, which aims to increase annual production by 120,000 mt. She stated at the meeting, "We need to reach more of these sharing agreements." Hidalgo said he sees potential for more infrastructure-sharing agreements in Chile. To learn more about the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry Conference & Expo, hosted by SMM, which will be held in Nanchang, Jiangxi, from April 22-25, 2025. Over 3,000 industry elites, representatives from upstream and downstream copper industry chain enterprises, government officials, industry associations, third-party equipment, logistics and warehousing, and academic experts will gather together. The conference covers mining, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain. At the event, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry. The conference features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market outlook. Sub-forums delve into industry hot topics in areas such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative production of 1 million mt. Share cutting-edge technologies and valuable experiences to help upgrade the copper industry chain and promote high-quality industry development. The CCIE 2025 SMM (20th) Copper Industry Conference & Expo will help you grasp industry trends, expand your network, and explore business opportunities! SMM cordially invites you to join us in Nanchang, Jiangxi, from April 22-25, to gather in the new era of copper and jointly plan for new development!

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