Anglo, Codelco Sign $5 Billion Deal to Boost Chile Copper Output
The Andina and Los Bronces copper mines in the Andes Mountains in an aerial photograph taken near Santiago.
Photographer: Tomas Munita/BloombergAnglo American Plc and Chile’s state copper company Codelco agreed to definitive terms on jointly developing their adjacent mines near Santiago in a bid to boost production without major investments.
Building on an initial accord signed in February, Anglo and Codelco have secured approval by both sets of boards and are scheduled to participate in a signing ceremony Tuesday with Chile’s President Gabriel Boric.