Anglo American and Codelco unite to supercharge Chilean copper production

Anglo American and Codelco have finalised a deal to develop their neighbouring Los Bronces and Andina copper mines. The partnership aims to increase production without constructing a new site. Both companies will retain ownership of their respective operations while collaborating on planning. The joint mine plan is designed to produce an additional 2.7 million tonnes of copper over 21 years. This averages about 120,000 tonnes annually. The project is expected to create at least $5 billion in extra pre-tax value for the two firms.

The agreement includes sustainability principles to protect community programmes and meet environmental obligations. However, the project still requires environmental approvals and other standard conditions before it can begin, with implementation targeted around 2030.

Chile’s copper output has faced recent challenges. Production fell by 13.8% year over year to 399,954 metric tons in April 2026, following a similar decline in March. Cochilco has since lowered its 2025 production growth forecast for the country from 3% to 1.5%, citing weaker performance at major mines. Despite this, the agency still anticipates Chile will produce 5.58 million metric tons of copper in 2025, with an average price of $4.30 per pound for both 2025 and 2026. The collaboration between Anglo American and Codelco could significantly boost copper production through coordinated efforts. It also aligns with broader industry goals to maintain output while addressing environmental and community concerns. The project’s success depends on securing the necessary approvals in the coming years.