Make Kitco Your Homepage

Anglo American, Aurubis collaborate on sustainable copper value chain

Kitco News

Editors Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of todays must-read news and expert opinions. Sign up here!

(Kitco News) - Global mining group Anglo American (LSE: AAL) announced Thursday that it has signed a memorandum of understanding with Aurubis to develop a copper product offering that responds to increasing expectations for future-enabling metals that are sustainably sourced and supplied.

In its statement, the company said that the objective of the collaboration is to provide assurance around the way copper is mined, processed, transported and brought to market.

"Applying their combined expertise, Anglo American and Aurubis will also explore the opportunity for technology-driven traceability solutions to bring greater transparency to the entire production cycle, as well as areas of common interest in technology development,"it added.

Peter Whitcutt, CEO of Anglo American's Marketing business, commented, "Together with Aurubis, and in line with our Sustainable Mining Plan goal to establish ethical value chains, we are engaging with industry participants to optimize the value that responsible supply can provide.

"The value chain starts from our portfolio of high-quality and long-life resource assets, now including our new world-class Quellaveco mine in Peru, and we are now working to establish a more comprehensive and integrated approach along the entirety of what is a fragmented mine-to-customer journey."

According to a press release, Anglo American and Aurubis have also committed to be assessed against the Copper Mark Chain of Custody Standard. Anglo American's managed copper operations in Chile – the Los Bronces and El Soldado mining operations and the Chagres smelter – were awarded the Copper Mark, the assurance standard for responsible production practices, in March 2022.

Anglo American is a leading producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel – with crop nutrients in development. The company is committed to being carbon neutral across its operations by 2040.

Aurubis is a global provider of non-ferrous metals and one of the world's largest copper recyclers. The company produces more than 1 million t of copper cathodes with 99.99 % purity in its European smelter network each year. In addition to copper, Aurubis produces gold, silver, platinum group metals, lead, nickel, tin, zinc, and selenium.

Kazakh mining giant KAZ Minerals increases copper production 26% in 9M 2022

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.