Anglo American and Codelco unite to boost Chile's copper production by 2030

Anglo American and Codelco have finalised a deal to jointly develop their neighbouring Los Bronces and Andina copper mines in Chile. The agreement allows both companies to retain ownership of their operations while sharing mine planning. The move aims to increase copper output without constructing a new mine. The partnership will create a joint mine plan expected to produce an additional 2.7 million tonnes of copper over 21 years. This translates to roughly 120,000 tonnes annually. The project is also forecast to generate at least $5 billion in pre-tax value for both firms.

The initiative still requires environmental approvals and other customary conditions before it can begin. Implementation is anticipated around 2030. Both companies will continue pursuing their own projects while aligning them with the joint plan.

The collaboration comes as Chile’s copper production has declined. In April 2026, output dropped 13.8% year over year to 399,954 metric tons, following a similar fall in March. Cochilco, Chile’s copper commission, has already lowered its 2025 production growth forecast from 3% to 1.5%. The project addresses rising global demand for copper, with Wood Mackenzie projecting a 24% increase by 2035. The joint effort could help stabilise Chile’s production levels while maximising efficiency in existing operations. Both companies will benefit from shared resources and coordinated planning.