On April 16 (Thursday), a document showed that Codelco and global miner Anglo American plan to separately submit environmental study reports to regulators for their proposed shared Andina-Los Bronces copper mine in Chile, using what they called an "unprecedented" dual-track model to streamline the approval process. The document showed that the two companies plan to submit two essentially identical applications in December for a copper mine to be jointly operated by both parties. Chile is currently the world's largest copper-producing country. Against the backdrop of an anticipated tightening in global copper supply, this model could serve as a blueprint for other major miners looking to share infrastructure and operations to boost production. The model would also allow Codelco and Anglo American to move faster and reduce risks. Codelco and Anglo American finalised this cooperation agreement in September 2025, planning to increase annual copper production by approximately 120,000 mt from 2030 to 2051, creating at least $5 billion in pre-tax value. ***"Mirror" Applications*** In areas where operations will overlap, the two companies proposed adopting identical environmental protection measures for each miner. A presentation document showed that they considered a single application submission legally unfeasible, as the Chilean constitution requires Codelco to retain ownership of its mining concessions. The two companies had also considered submitting three applications: one from each miner to extend the life of their respective mines, and a third from a joint entity responsible for operating the shared project. They ruled out this option, as it would require the enterprises to relinquish their existing open-pit mine environmental protection permits to make way for the merged mine. This "dual-track structure" also makes it possible for the two mines to resume independent operations in the future. ***On-Site Operations*** The documents detailed the plan to create a single mine site from the existing operations. Anglo American's Los Bronces mine is adjacent to Codelco's Andina mine. The two companies' plans showed that the rock barrier between them will also be mined, forming a single operating pit while keeping the project essentially within the existing footprint of the mines. A document showed that ore extracted from the shared mine site will be alternately sent to the Los Bronces and Andina processing plants, while waste rock will be dumped in each company's respective waste rock piles. To operate the two mines as an integrated system, modifications to waste rock piles, tailings facilities, pipelines, and supporting infrastructure are still required. The two companies stated that shared infrastructure can avoid redundant construction, reduce freshwater consumption, and alleviate pressure on the surrounding environment. ***Risks of a "Shared" Mine*** The two companies also identified significant risks, such as the need for close coordination with regulators, which could put pressure on Chile's already slow environmental review system. They emphasised that the project has "a very high level of public attention" and that there is a risk that environmentalists and affected communities may argue that the two reviews obscure the scale of the impacts. The Los Bronces mine has been accused for years of impacting air quality, water use, and glaciers in the high Andes region where it is located. Although Codelco and Anglo American believe the dual-track approach can reduce the risk of impacts being underestimated, they also acknowledged that it could lead to duplication of environmental protection management measures. (Wenhua Consolidated)

On Tuesday, April 8, Patricio Hidalgo, CEO of Anglo American Chile, stated that Chile needs to accelerate approvals to expand its copper mining before the supply gap widens in the coming years. Chilean President Gabriel Boric had previously promised to reduce approval times by one-third, but Congress is still discussing a reform aimed at streamlining the approval process. Chile accounts for about a quarter of global copper supply, and many mining companies in the country are urging faster approvals. Anglo American, one of the world's largest mining companies, operates the Los Bronces copper mine in Chile and holds a 44% stake in the Collahuasi copper mine. Hidalgo noted that due to the energy transition, emerging economies, and digitalization, copper demand in 2040 is expected to be equivalent to the output of 80 Los Bronces mines. The Los Bronces mine produced 172,000 mt of copper in 2024. He said, "When people see this kind of demand or structural gap in the copper market, we need to bring copper supply to the market more quickly." He also pointed out that collaboration could help maximize production, such as the recent agreement between Anglo American and Codelco to share infrastructure between the Los Bronces mine and the nearby Andina copper mine. Kathleen Quirk, CEO of Freeport-McMoRan, mentioned this agreement on Tuesday, which aims to increase annual production by 120,000 mt. She stated at the meeting, "We need to reach more of these sharing agreements." Hidalgo said he sees potential for more infrastructure-sharing agreements in Chile. To learn more about the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry Conference & Expo, hosted by SMM, which will be held in Nanchang, Jiangxi, from April 22-25, 2025. Over 3,000 industry elites, representatives from upstream and downstream copper industry chain enterprises, government officials, industry associations, third-party equipment, logistics and warehousing, and academic experts will gather together. The conference covers mining, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain. At the event, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry. The conference features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market outlook. Sub-forums delve into industry hot topics in areas such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative production of 1 million mt. Share cutting-edge technologies and valuable experiences to help upgrade the copper industry chain and promote high-quality industry development. The CCIE 2025 SMM (20th) Copper Industry Conference & Expo will help you grasp industry trends, expand your network, and explore business opportunities! SMM cordially invites you to join us in Nanchang, Jiangxi, from April 22-25, to gather in the new era of copper and jointly plan for new development!

On June 21, the SMM Copper Concentrate Imports Index (weekly) was reported at $0.13/mt, down $0.74/mt from the previous reading of $0.87/mt. As copper prices declined, the pricing coefficient for 20% grade domestic ore dropped to 91-93%.