Copper Production to Reach 1.5 Million Metric Tons Over 10 Years

Anglo American's robust pipeline projects are expected to drive copper production growth to 1.5 million metric tons over the next decade. At the 10th annual CRU World Copper Conference in Santiago, Chile, John MacKenzie, chief executive of Anglo's Copper Division, highlighted the company's significant pipeline projects, including the expansion of Los Bronces, which will become the world's fifth largest copper mine. The mine's production is expected to nearly double from current levels to 490,000 metric tons per year over the next three years. With a mine life of 30 years and further exploration potential, Los Bronces is a significant contributor to Anglo American's copper production.

Key Takeaways:

Anglo American's copper production is expected to reach 1.5 million metric tons over 10 years, driven by robust pipeline projects.
The Los Bronces expansion is on track for first production in the fourth quarter of this year, with a capacity to produce 490,000 metric tons per year.
Los Bronces has a mine life of 30 years, with further exploration potential.
Anglo American currently owns a 44% stake in Chile's largest copper mine, Collahuasi.
The company mined 623,295 metric tons of copper in Chile last year, a 7% decrease from 669,814 metric tons produced in 2009.
John MacKenzie, chief executive of Anglo's Copper Division, highlighted the company's significant pipeline projects, including the Los Bronces expansion.
The 10th annual CRU World Copper Conference was held in Santiago, Chile, where MacKenzie made the announcement.

Statistics:

Copper production is expected to reach 1.5 million metric tons over 10 years.
Los Bronces expansion is expected to produce 490,000 metric tons of copper per year over the next three years.
Anglo American mined 623,295 metric tons of copper in Chile last year.
The company's copper production decreased by 7% from 669,814 metric tons produced in 2009.
Los Bronces has a mine life of 30 years.
The mine has further exploration potential.

Sources:

Dow Jones Commodities News (Apr 05, 2011)
Dow Jones Newswires (By Tatyana Shumsky, 212 416 3095, tatyana.shumsky@dowjones.com)