Anglo American announced the start of commercial copper operations at its Quellaveco project in Peru on Monday, following the successful testing of operations and final regulatory clearance.
In a statement, Anglo American said Quellaveco was expected to produce 300 000 tons per year of copper equivalent volume on average over its first 10 years.
Anglo American CEO Duncan Wanblad said: “Quellaveco alone is expected to lift our total global output by 10% in copper equivalent terms and take our total copper production close to 1 million tons per year. At a highly competitive operating cost, Quellaveco exemplifies the asset and return profile that is central to our portfolio quality and our ability to provide customers with a reliable and sustainable supply of future-enabling metals.”
Anglo American’s Base Metals business CEO Ruben Fernandes said: “We designed Quellaveco as one of Anglo American’s and South America’s most technologically advanced mines, incorporating autonomous drilling and haulage fleets – a first in Peru – a remote operations centre, as well as several of Anglo American’s digital and advanced processing technologies.
“Drawing its electricity supply entirely from renewables, Quellaveco is setting an example of a low-emission mine producing a critical metal for decarbonising the global economy – copper. In Quellaveco, we can see FutureSmart Mining in action.”
Anglo American said it expected that Quellaveco would ramp up fully over the next 9-12 months.
“Following a thorough commissioning and testing period, and receipt of final regulatory clearance, production guidance for Quellaveco in 2022 is revised to 80 000 to 100 000 tons of copper, previously 100 000 to 150 000 tons. Production guidance for Quellaveco in 2023 and 2024 is unchanged at 320 000 to 370 000 tons of copper,“ the group said.
Anglo American said the production guidance for Chile was tightened to 560 000 tons to 580 000 tons of copper, previously 560 000 tons to 600000 tons, due to lower throughput at Los Bronces caused by a combination of water restrictions and a change in ore characteristics.
BUSINESS REPORT