The agreement establishes that both companies will maintain ownership of their concessions and operate independently, but with coordinated management in processing and logistics.
After more than a decade of negotiations, Codelco and Anglo American reached a key agreement for Chilean mining by signing a Memorandum of Understanding (MOU).
This will allow the company to coordinate its operations in the Andina-Los Bronces district, optimizing resources and increasing copper production without requiring large investments.
The plan, which will run from 2030 to 2051, seeks to generate at least US$5 billion in value, consolidating Chile as a strategic player in the copper industry.
The agreement establishes that both companies will maintain ownership of their concessions and operate independently, but with coordinated management in processing and logistics.
This projected an increase of 120 thousand tons of copper per year, which represents 2.8% more than in 2023. In addition, a joint operating entity with equal participation will be created to ensure greater efficiency.
CODELCO - ANGLO AMERICAN AGREEMENT
In this regard, Pablo Barberis, an economist and professor at the University of Business at the University of Chile, highlighted that this alliance will not only boost production, but will also reduce operating costs.
In financial terms, it is estimated that the Chilean State could receive additional revenues of US$ 3.75 billion in 21 years. The coordination between Andina and Los Bronces will also allow for optimizing costs and reducing environmental impact, in line with the sustainability commitments of both companies.
In this regard, economic analyst from Andrés Bello University, Alejandro Urzúa, explained the objectives of the alliance and its economic impact on the country.
However, senior economist at Libertad y Desarrollo, Macarena García, warned that the fiscal imbalance must be kept in mind in the coming years.
The collaboration between the two mining companies also includes measures for responsible water management and the protection of high Andean ecosystems, key aspects in a context of climate change and water scarcity.
Experts agree that the joint exploitation of Andina and Los Bronces will strengthen Chile's leadership in copper production and contribute to the transition towards a more sustainable economy.
