Wrap Text
Anglo American and Codelco complete Los Bronces - Andina agreement, to deliver 2.7 million tonnes of copper
Anglo American plc
Registered office: 17 Charterhouse Street, London EC1N 6RA
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GB00BTK05J60
JSE Share Code: AGL
NSX Share Code: ANM
(the "Company")
24 June 2026
Anglo American and Codelco complete Los Bronces - Andina agreement, paving the way to deliver 2.7
million tonnes of additional copper production
Anglo American plc ("Anglo American"), through its 50.1%-owned subsidiary, Anglo American Sur S.A.
("AAS"), and Codelco, announce the completion of the definitive agreement to implement a joint mine
plan for their respective Los Bronces and Andina copper mines in Chile, following receipt of the required
competition and regulatory approvals along with the fulfilment of conditions precedent. Today's
announcement follows the landmark agreement signed and announced by Anglo American and Codelco
in September 2025.
The joint mine plan is expected to unlock 2.7 million tonnes of additional copper over a 21-year period,
delivering an average of 120,000 tonnes per year of additional low-cost copper production (to be shared
equally) with minimal capital investment, creating at least $5 billion pre-tax in shared additional value.
Implementation of the joint mine plan remains conditional on the relevant environmental permits being
secured, together with other customary conditions to final implementation, currently expected by 2030.
Duncan Wanblad, CEO of Anglo American, said: "Our agreement with Codelco demonstrates what is
possible when we work in partnership to unlock compelling industrial synergies -delivering significant
value and more copper tonnes for both companies and for Chile. The next important milestone for Los
Bronces - Andina is the timely receipt of the permits which will allow us to begin delivering the additional
volume and value that we are targeting, for the benefit of all our stakeholders, and for Chile.
"By integrating the Los Bronces and Andina mine plans, we are unlocking one of the most significant
copper adjacency opportunities in the world. Adjacencies such as these are rare and they highlight the
role that responsible, partnership-led development can play – in this case supporting Chile's ambition to
lift national copper production to 6 million tonnes per year by 2030."
Bernardo Fontaine, Chairman of Codelco, commented: "This agreement represents a more efficient and
responsible way to develop one of the world's leading copper districts. It allows us to make better use of
existing infrastructure, capture greater benefits for Chile, and move forward with a long-term vision
based on operational excellence, sustainability, and the responsible use of resources. It is a tangible
example of how collaboration can generate greater value without compromising the thoroughness,
discipline, and commitment that Codelco demands today. The Andina–Los Bronces Joint Mine Plan
reflects the principles that guide Codelco today: safety; maximizing returns to the State, while ensuring
operations remain profitable without increasing debt; putting the house in order with firm leadership
and transparency; and strengthening sustainability."
Both Anglo American and Codelco will maintain the flexibility to develop their own standalone projects,
including the advancement of their respective underground resources, during the term of the joint mine
plan in a coordinated and appropriate manner.
The companies have also established principles to guide the implementation of the joint mine plan,
including sustainability principles which safeguard both social programmes and adherence to existing
environmental commitments.
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary
listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock
Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Tyler Broda
james.wyatt-tilby@angloamerican.com tyler.broda@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 1470
Marcelo Esquivel Emma Den Hollander
marcelo.esquivel@angloamerican.com emma.denhollander@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 1452
Rebecca Meeson–Frizelle Wade Haggarty
rebecca.meeson-frizelle@angloamerican.com wade.haggarty@angloamerican.com
Tel: + 44 (0)20 7968 1374 Tel: +44 (0)20 7968 1464
South Africa Nathan Morgan
Nevashnee Naicker nathan.morgan@angloamerican.com
nevashnee.naicker@angloamerican.com Tel: +44 (0)20 79682154
Tel: +27 (0)11 638 3189
Ernest Mulibana
ernest.mulibana@angloamerican.com
Tel: +27 (0)82 263 7372
Notes:
Anglo American is a leading global mining company focused on the responsible production of copper,
premium iron ore and crop nutrients – future-enabling products that are essential for decarbonising the
global economy, improving living standards, and food security. Our portfolio of world-class operations
and outstanding mineral endowments offers value-accretive growth potential across all three businesses,
positioning us to deliver into structurally attractive major demand growth trends.
Our integrated approach to sustainability and innovation drives our decision-making across the value
chain, from how we discover new resources to how we mine, process, move and market our products to
our customers – safely, efficiently and responsibly. Our Sustainability Strategy commits us to a series of
stretching goals over different time horizons to ensure we build trust as a corporate leader, contribute to
a healthy environment and help create thriving communities. We work together with our business
partners and diverse stakeholders to unlock enduring value from precious natural resources for our
shareholders, for the benefit of the communities and countries in which we operate, and for society as a
whole. Anglo American is re-imagining mining to improve people's lives.
Anglo American is currently implementing a number of major structural changes to unlock the inherent
value in its portfolio and thereby accelerate delivery of its strategic priorities of Operational excellence,
Portfolio optimisation, and Growth. The sale of our steelmaking coal and nickel businesses and the
separation of our iconic diamond business (De Beers) continue to progress and once completed, will focus
Anglo American on its world-class resource asset base in copper, premium iron ore and crop nutrients.
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are to refer to either Anglo American plc and its subsidiaries and/or those who work for them generally, or where it
is not necessary to refer to a particular entity, entities or persons. The use of those generic terms herein is for
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adaptation and implementation of Group policies, management, training and any applicable local grievance
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policies. Such policies and procedures constitute prescribed minimum standards only. Group operating subsidiaries
are responsible for adapting those policies and procedures to reflect local conditions where appropriate, and for
implementation, oversight and monitoring within their specific businesses.
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factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be
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Date: 24-06-2026 08:00:00
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