Chile's FNE and antitrust bodies from China, Brazil, and South Korea have approved the joint Andina-Los Bronces mining plan between Codelco and Anglo American. The deal, signed in February 2025, will enable 120,000 additional tonnes of fine copper per year from 2030 to 2051. Codelco board chairman Máximo Pacheco said it will unlock greater potential in the mining district.
Codelco announced on Wednesday that it has secured the necessary competition clearances to proceed with the Andina-Los Bronces joint mining plan, first outlined a year ago in a memorandum and formally signed in February 2025 with Anglo American. The approvals come from Chile's National Economic Prosecutor's Office (FNE), China's State Administration for Market Regulation (SAMR), and equivalent bodies in Brazil and South Korea, as reported by La Tercera. “The agreement with Anglo American will unlock greater potential in the Andina-Los Bronces district and generate value for decades. Decisions we make today in mining have long-term effects, and this project shows how cooperation can lead to more production, efficiency, and value for our country,” said Máximo Pacheco, chairman of Codelco's board. Patricio Hidalgo, Anglo American's Chile CEO, stated: “The joint mining plan with Codelco advances responsible production, establishing a more efficient, competitive, and sustainable model, while reinforcing Chile's leadership in critical minerals for the global energy transition.” The initiative will boost output by 120,000 tonnes of fine copper annually from 2030 to 2051, at lower unit costs without major new investments. It will also create over $5 billion in additional pre-tax value, shared equally. The companies are now developing the timeline, including environmental permitting and forming a coordinating entity.
