Santiago — Anglo American will scrap its next big copper project if studies indicate the plan could harm nearby glaciers or there is major opposition from local communities in Chile, a top executive says.
Production at Los Bronces — the largest copper mine operated by the globe-straddling company — will decline in five years as ore grades decrease. The output expansion at the site, which has been mined for more than 150 years, could take annual production from 369,500 tonnes in 2018 to about 400,000 tonnes. The company plans to use new technology to increase efficiency and to dig underground tunnels to avoid impact on the nearby glaciers.
The Juncal Norte and Olivares Alfa glaciers, about 4,000m above sea level and close to Los Bronces and Codelco’s Andina mine, are melting at a faster pace than others further away, he said.Faul expects it will take about three years to obtain the necessary permits for the project, including the environmental license. Project development would take four years, and ramp up a further five years.