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![\"Anglo](\"http:\/\/www.mining.com\/wp-content\/uploads\/2019\/04\/anglo-tweet-april-2019.jpg\")
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The underground deposit at Los Bronces is estimated to have a 1.7% copper grade, three times the mine’s open pit grade. In that sense, it would be a rare example of an expansion project that will process lower tonnage and not require expansion of milling and processing capacity. The company also estimates it will reduce production costs from $1.50 a pound to about $1.3 a pounds while extending the mine life from its current 23 years to 40 years.<\/p>\n
The expansion is part of Anglos\u2019 wider plan to increase its copper exposure and output<\/a>, which include the ongoing construction of its\u00a0$5-billion Quellaveco mine, in Peru<\/a>, expected churn our first production in 2022.<\/p>\n The area around Los Bronces hosts 30% of Chile’s copper resources and 10% of world resources. It\u2019s also home to about 80% of South America\u2019s glaciers.<\/p>\n Due to its sensitivity, Anglo estimates it will take it around three years to obtain all necessary permits, including the environmental license.<\/p>\n Anglo American owns 50.1% of Los Bronces, with a joint venture between Chile\u2019s copper miner Codelco and Mitsui holding 29.5% and Mitsubishi having the reminding 20.4%.<\/p>\n In addition to Los Bronces, Anglo American runs El Soldado copper mine and it has 44% participation in Collahuasi mine, in northern Chile.<\/p>\n Copper deposits are\u00a0among the hottest assets in mining<\/a>\u00a0right now, with the world\u2019s top producers becoming increasingly bullish on the metal. There are expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies are constrained.<\/p>\n However, industry analysts at CRU say the coming online of major projects \u2014 Anglo\u2019s Quellaveco<\/a>\u00a0(2022), Teck\u2019s Quebrada Blanca expansion<\/a> (2021) and First Quantum\u2019s Cobre Panama<\/a> (already in production) will momentarily eliminate the gap between supply and demand.<\/p>\n The research group, in fact, has cut its forecast deficit and now expects the market will be in a small surplus this year and next, but short again by 250,000 tonnes by 2023.<\/p>\n The post Anglo vows to quit Los Bronces $3B expansion if it affects nearby glaciers<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The area around Los Bronces copper mine hosts 30% of Chile’s copper resources and 10% of the world’s. It’s also home to about 80% of South America’s glaciers.<\/p>\n The post Anglo vows to quit Los Bronces $3B expansion if it affects nearby glaciers<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,680,681,1580,440],"tags":[86],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109665"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1109665"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109665\/revisions"}],"predecessor-version":[{"id":1109830,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109665\/revisions\/1109830"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1109665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1109665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1109665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The area around Los Bronces copper mine hosts 30% of Chile’s copper resources and 10% of the world’s. It\u2019s also home to about 80% of South America\u2019s glaciers.<\/q><\/p>\n
With files from Bloomberg.<\/h6>\n