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(Kitco News) - Anglo American today announced the decision by the Chilean Committee of Ministers to approve the environmental permit application for the Los Bronces Integrated Project ("LBIP"), setting up the next phase of development for one of the world's largest copper mines.
Los Bronces is an open-pit copper and moly mine. The mineral that is extracted is ground and transported by a 56-kilometer pipeline to the Las Tórtolas flotation plant, where copper and molybdenum contained in concentrates are produced. Furthermore, the mine copper cathodes occurs.
The company said that LBIP is a multi-billion dollar project to develop the next phase of the existing open pit within Los Bronces' operating site and replace future lower grade ore by accessing higher grade ore from a new underground section of the mine.
Importantly, according to a press release, the project uses the mine's existing processing facilities, optimizes water efficiency, has no impact on glaciers and requires no additional fresh water or tailings facilities.
Ruben Fernandes, CEO of Anglo American's Base Metals business, commented, "We welcome the decision from the Committee of Ministers in support of our ongoing investment in Los Bronces – securing the long term future of one of the world's largest copper mines.
"We have designed the Los Bronces Integrated Project as an example of the very best of modern mining, bringing not only investment and jobs, but extensive protection for the environment and a considerable improvement in air quality for the broader region of Santiago."
Following the receipt of the environmental permit, Anglo American said it will continue to progress the project through its pre-feasibility stages towards submission for approval by the Anglo American Board in due course.
Anglo American is a leading global mining company. The company produces 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.
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