Anglo American plc (LON:AAL) has welcomed the decision in Chile by the Committee of Ministers to approve the environmental permit application for the Los Bronces Integrated Project (LBIP), setting up the next phase of development for one of the world’s largest copper mines.
LBIP is a multi-billion dollar project to develop the next phase of the existing open pit within Los Bronces’ operating site and replace future lower grade ore by accessing higher grade ore from a new underground section of the mine. The project uses the mine’s existing processing facilities, optimises water efficiency, has no impact on glaciers and requires no additional fresh water or tailings facilities.
Following the receipt of the environmental permit, Anglo American will continue to progress the project through its pre-feasibility stages towards submission for approval by the Anglo American Board in due course.
Copper production guidance for Chile is unchanged, subject to water availability, as follows:
2023 530-580 kt
2024 550-600 kt
2025 530-580 kt
Ruben Fernandes, CEO of Anglo American’s Base Metals business, said: “We welcome the decision from the Committee of Ministers in support of our ongoing investment in Los Bronces – securing the long term future of one of the world’s largest copper mines. We have designed the Los Bronces Integrated Project as an example of the very best of modern mining, bringing not only investment and jobs, but extensive protection for the environment and a considerable improvement in air quality for the broader region of Santiago.”
