Codelco, Anglo American set to jointly operate neighboring Chile mines, newspaper reports
SANTIAGO, Feb 20 (Reuters) - Chilean state-run copper giant Codelco (COBRE.UL) and London-listed miner Anglo American (AAL.L), opens new tab are set to announce a deal to jointly operate neighboring copper mines in central Chile, according to a report by newspaper La Tercera late on Wednesday.
Under the agreement, expected to be announced as soon as Thursday morning, the companies will merge their operations at Codelco's Andina division and Anglo American's Los Bronces, the paper reported.
Reuters could not immediately reach Codelco or Anglo American for comment outside of regular business hours.
Andina, one of Codelco's smaller units that includes the Rio Blanco and Sur Sur mines, produced 164,500 metric tons of copper in 2023. Los Bronces, meanwhile, is a key mine for Anglo American, with output of 215,000 tons in 2023.
Codelco owns a 20% stake in Anglo American Sur, the local Anglo American unit that includes Los Bronces.
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