Anglo American and Codelco unite to boost copper production by 2.7M tonnes

Anglo American and Codelco have finalised a partnership to develop their neighbouring Los Bronces and Andina copper mines. The agreement lets both firms retain ownership of their sites while working together on mining operations. The collaboration aims to increase copper output without constructing a new facility. The joint mine plan is designed to extract an additional 2.7 million tonnes of copper over 21 years. This translates to roughly 120,000 tonnes annually. The project is expected to create at least $5 billion in extra pre-tax value for the two companies.

Implementation depends on environmental approvals and other standard conditions. Full operation is anticipated by around 2030. Both Anglo American and Codelco will still pursue their own separate projects alongside this joint effort.

The partnership comes as Chile’s copper production faces challenges. Output dropped 13.8% year over year in April 2026, following a similar decline in March. Cochilco has also lowered its 2025 production growth forecast for the country from 3% to 1.5%. Meanwhile, global copper demand is projected to rise by 24% by 2035, reaching 42.7 million tonnes per year. The deal allows both companies to share resources and expertise while maintaining control of their assets. It targets higher production at a time when Chile’s output is declining. The extra copper will help meet rising global demand over the next decade.