Anglo American (LSE:AAL) and Chilean state miner Codelco have completed their definitive joint mine plan agreement for the Los Bronces and Andina copper operations in Chile, clearing all required regulatory and competition approvals, with the partnership targeting 2.7 million tonnes of additional copper output.
The deal, which Anglo American operates through its 50.1%-owned subsidiary Anglo American Sur, integrates the mine plans of two adjacent open-pit operations in Chile's central Andes, allowing shared use of existing infrastructure and coordinated extraction sequencing across what the companies describe as one of the world's most significant copper districts.
The agreement was first signed in September 2025, with today's announcement confirming fulfilment of all conditions precedent.
Both companies retain the flexibility to advance their own standalone underground projects in parallel with the joint plan, a carve-out that preserves independent development optionality for each party.
The next catalyst is permit receipt, which CEO Duncan Wanblad described as "the timely receipt of the permits which will allow us to begin delivering the additional volume and value that we are targeting."
