Anglo-American sees first production from expanded Chile mine
Anglo-American, the FTSE 100 mining company, has completed the first copper production from the huge expansion project at its Los Bronces mine in central Chile.
Anglo-American, the FTSE 100 mining company, has completed the first copper production from the huge expansion project at its Los Bronces mine in central Chile.
The expansion of Los Bronces is expected to more than double the mine's existing production of 221,000 tonnes per year.
Anglo-American's Chief Executive, Cynthia Carroll, said of the development: "At peak production levels, Los Bronces is expected to be the fifth largest copper mine in the world, with reserves and resources that support a mine life of over 30 years and with further expansion potential."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
 
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Los Bronces is an open-cut copper and molybdenum mine located approximately 65km northeast of Santiago, Chile, at an altitude of around 4,000m above sea level.
The ore is extracted, crushed and transported down a 56km slurry pipeline to the Las Trtolas flotation plant, where copper and molybdenum concentrates are produced. The mine also produces copper cathodes.
At its peak of construction the Los Bronces Project employed approximately 16,000 workers.
Anglo-American shares have fallen 33% in the year to date and are 15% down over five years.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
- 
 More pensioners dragged into 60% tax trap – could you be caught? More pensioners dragged into 60% tax trap – could you be caught?Frozen thresholds are pushing more older workers into paying income tax at levels much higher than the headline rate, new figures show. We look at why and how you can avoid being caught in the 60% tax trap. 
- 
 Higher earners face £377 bill if Reeves puts up income tax – do you fit the Treasury’s definition of ‘working people’? Higher earners face £377 bill if Reeves puts up income tax – do you fit the Treasury’s definition of ‘working people’?Labour’s election manifesto pledged not to raise National Insurance, VAT or income tax but prime minister Keir Starmer appeared reluctant to repeat the promise this week 
 
