Codelco restructures team for Anglo American mine JV

Codelco has restructured the management team overseeing its planned joint venture with Anglo American’s Los Bronces copper mine, dissolving a dedicated vice presidency for the project, according to a document seen by Reuters on Tuesday.

Claudia Monreal Lopez has been appointed to lead the new team, assuming her role on October 27, with a mandate to ensure coordination across all Codelco areas involved in the project, according to a resolution signed by Chief Executive Jorge Gomez.

The state-owned company dissolved the vice presidency of integration for the project in early September.

Codelco’s Andina mine and Anglo American’s Los Bronces are both located in the Andes mountains northeast of Santiago.

The companies reached a final agreement in late June to jointly operate the deposits, targeting an average of about 120,000 metric tons of additional copper per year between 2030 and 2051.

The venture would generate at least $5 billion in additional pre-tax value for both companies, the partners said.

The companies plan to submit two separate environmental permit applications in December to advance the project, according to documents obtained by Reuters.

(Reporting by Fabian Cambero, Writing by Iñigo Alexander, Editing by Natalia Siniawski)