Copper | Anglo American

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About us

At Anglo American we're re-imagining mining to improve people's lives.

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Our products are essential ingredients in so much of modern life – from smartphones, electric vehicles and household appliances to solar panels, wind turbines and data centres.

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We have developed a Sustainable Mining Plan that will foster innovation and deliver step change results across the entire mining value chain.

Sustainable Mining Plan

We have developed a Sustainable Mining Plan that will foster innovation and deliver step change results across the entire mining value chain.

FutureSmart Mining™

Smart innovation in technology, digitisation & sustainability working hand in hand to connect metals & minerals to all of us who need and value them.

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We have developed a Sustainable Mining Plan that will foster innovation and deliver step change results across the entire mining value chain.

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We have developed a Sustainable Mining Plan that will foster innovation and deliver step change results across the entire mining value chain.

Origins

We have developed a Sustainable Mining Plan that will foster innovation and deliver step change results across the entire mining value chain.

Copper: material for a modern world

Anglo American

A material for a modern world

Copper is one of the most critical metals underpinning two major demand growth trends: improving living standards for a growing and urbanising global population; and decarbonising the global economy.

Decarbonising the global economy

Copper is critical to progressing economic development and facilitating the energy transition.

Copper is vital in the development of lowcarbon technologies - such as renewable power generation Infrastructure and EVs powered by batteries and fuel cells.

3-5x The additional amount of copper required in wind and solar power plants compared to fossil fuel power stations.

Growing and urbanising global population

To support higher living standards alone, the installed stock of the global economy must increase. In the developed world, there is a c.230 kg of copper installed per person, but at a global level there is just 65 kg. To bridge this gap, the global installed stock must increase from c.500 Mt today to > 2,000 Mt in the coming decades.

>2,000Mt Global installed stock must increased from c.500Mt today

Powering the future through operational efficiency and sustainablity

In the developed world, around 230 kg of copper is installed per person, compared to just 65 kg globally. To bridge this gap, the total global installed copper stock must rise from approximately 500 million tonnes today to over 2,000 million tonnes in the coming decades. Anglo American is well positioned to benefit from the structural tightness in the copper market, thanks to our strong growth profile. Our business is focused on building resilience, improving margins and growing sustainablity.

$3,805 million

underlying EBITDA

45%

Group underlying EBITDA

773kt

2024 production

World class assets

Anglo American’s copper assets are among the most competitive and future-ready in the world. With operations in Chile and Peru, we’re well placed to meet rising demand for copper in a decarbonising economy. From the high-altitude innovation of Los Bronces to the fully renewably powered Quellaveco, our portfolio combines scale, quality and sustainability. These long-life assets are built for resilience in today’s challenging market.

Quellaveco

renewably powered, digitally enabled

Our Quellaveco copper mine, located in Peru, started production in mid-2022 and is one of the largest greenfield copper mines to be built in recent decades; it sits in the first quartile of the global cost curve and we delivered the project on time and on budget. In its first 10 years of production, it is expected to produce on average around 300,000 tonnes of copper per annum (100% basis).

Our Quellaveco copper project will boost our supply of one of the modern world’s most needed energy transition metals. Quellaveco expects to deliver around 300,000 tonnes per annum of copper on average in the first ten years of operation.

From April 2023, our new Quellaveco copper mine was supplied with 100% renewable electricity, transforming our ‘exposure to copper, a metal critical to economic development and implementing the energy transition.

The remote Integrated Operations Centre has revolutionised the mining process. Here, real-time data is collected, future scenarios are visualised, and a fleet of 30 automated mining trucks is operated at a safe distance, mitigating potential hazards.

Technologies also include six remote-controlled blasthole drilling machines, capable of drilling a 16-meter hole in just 12-15 minutes, a significant improvement over conventional drills. This forward-thinking, lower-risk approach not only sets the stage for the future of mining but also positions Quellaveco as a hub for digital mining expertise, creating digital mining experts who can in turn educate others around the world.

36 years of mine life

300,000 - 330,000 tonnes production guidance 2024

300,000 tonnes per year of copper equivalent in the first ten years of operation

Los Bronces

Los Bronces is a world-class copper deposit, accounting for more than 2% of the world's known copper resources.

Driving operational efficiency

At Los Bronces, one of the world's largest copper mines, implementing our Best Practice Principles (BPPs) has been transformative in cutting downtime. This targeted approach has helped to address the mine's unique challenges, including extreme weather conditions and the complex logistics related to operating in the high Andes of central Chile, to deliver the reliable performance that is essential for meeting production targets.

Transformative approach to water

switching over from continental water to waste water and desalinated water at our Los Bronces copper operation,

water efficiency at most of our operations, diversion of fresh water to communities as well as converting our water supply to alternative non-fresh water sources, such as at Los Bronces, where we have increased Anglo American plc Integrated Annual Report 2024 Strategic Report Strategic enablers 77 our use of treated municipal wastewater imported from regional utilities

Rising to copper industry challenges

The world needs more copper, yet the industry is facing declining grades, increasing water scarcity and pressure to reduce energy consumption. We are working on a series of step-change initiatives which demonstrate our FutureSmart Miningtm approach in action.

SandLix^TM

Unlocks the heap leaching of complex, low-grade copper ores, specifically targeting chalcopyrite-rich ores. By optimising particle size, temperature and chemistry for each ore, highly permeable heaps are formed and precisely controlled to achieve high copper recoveries without complex or expensive reagents. Once scaled-up, SandLix^TM has the potential to allow 'stranded' ores to be economically processed in a sustainable way - using around half the amount of water and energy compared to conventional processing.

Hydraulic dewatered stacking (HDS)

Anglo American has invested in the development of a new tailings management approach, called hydraulic dewatered stacking (HDS), which is an engineered codisposal approach utilising a fines-free sand that is derived from the tailings themselves to create a desaturated tailings facility through passive in situ dewatering. A large-scale demonstration was completed as per plan at our El Soldado copper operation in Chile in late 2024, and initial results are promising, showing that the presence of vertical sand channels within a facility can accelerate dewatering and associated consolidation.

Coarse particle recovery (CPR)

An innovative flotation process which can be used to improve recovery or permits material to be ground to a larger particle size, allowing the early rejection of coarse waste and greater water recovery - is now embedded into our El Soldado and Quellaveco operations. Benefits are dependent on application and site-specific constraints. CPR has enabled a 16% increase in copper production without the need for additional energy at El Soldado and is recovering ¢.600 additional tonnes per month of copper that would otherwise likely be consigned to tailings at Quellaveco.

Quarterly production report

Prev year: 196kt

173,300 tonnes

reflecting higher production from Quellaveco in Peru as a result of higher plant throughput, offset by planned lower production in Chile, which resulted in a 11% decrease year-on-year. Quarter-on-quarter, production is 3% higher, largely due to improved performance from Collahuasi.

2025 unit cost guidance: c.151 c/lb

690–750 kt

2025 production guidance. Unit costs exclude royalties and depreciation and include direct support costs only. FX rates used for 2025 unit costs: c.950 CLP:USD, c.3.75 PEN:USD, c.5.75 BRL:USD, c.18.60 ZAR:USD, c.1.60 AUD:USD. Subject to macro-economic factors.

Leadership

Tony Power

CEO, Peru

Tony Power

CEO, Peru

Batchelor of Engineering, Electrical & Computer Engineering

Tony has been CEO of Anglo American in Peru since January 2025, having previously led the global Operational Excellence team. Tony has served in a number of senior technical and operational roles during his 22-year career with Anglo American, including as Executive Head of Technical for Base Metals and General Manager of the Mogalakwena PGMs mine and Khwezela Coal mine in South Africa.

Tony has a Bachelor of Engineering, Electrical and Computer Engineering degree from Queensland University of Technology.

Patricio Hidalgo

CEO, Chile

Patricio Hidalgo

CEO, Chile

Patricio has been CEO of Anglo American in Chile since December 2022, having joined Anglo American in 2021 as General Manager of our Los Bronces copper operation. Before that, he was General Manager of BHP´s Spence mine in Chile. Patricio worked for BHP for 17 years, in a number of operational and commercial roles in Chile, Australia, and Singapore.

Patricio has a degree in Mining Engineering from the Universidad de Santiago de Chile, an MBA from Curtin University in Australia and the Advanced Management Program from Harvard University in the US.

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Ruben Fernandes

Chief Operating Officer

Ruben Fernandes

Chief Operating Officer

MBA, MSc (Metallurgical Engineering)

As Chief Operating Officer, Ruben is responsible for ensuring safe and responsible operations, optimising performance, future options and commercial value across Anglo American's portfolio.

Prior to this role, Ruben served as regional director for the Americas, CEO of Base Metals and CEO of Anglo American Brazil.

Ruben joined Anglo American in 2012, and was previously head of mining at Votorantim Metals in Brazil. Between 2009 and 2011, he was COO at Vale Fertilizers and, CEO of Kaolin Companies – Pará Pigments and Cadam – two subsidiaries of Vale, between 2007 and 2009, and held various analysis, marketing and project roles in Vale’s Base Metals business which he joined in 1999.

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Quellaveco Mine

Quellaveco Mine