Anglo American and Codelco to boost copper output by 120,000 tonnes
Anglo American and Codelco have agreed to work together to boost their copper output. The partnership is expected to boost copper output without requiring major investments. The companies aim to increase their annual copper output by 120,000 tonnes, or $5 billion.
“This is a very smart deal,” said Duncan Vanblad, CEO of Anglo American.
For Codelco, the partnership is important to help restore output at older mines that have reached their lowest levels in 2023.
As ore quality deteriorates and the cost of starting new projects increases, major mining companies are working together to cut costs and increase output.
