LONDON, June 27, 2026, 17:01 BST
- Anglo American closed at 3,718p on Friday, rising 0.43% for the day. Shares dropped 4.4% for the week, trading between 3,542p and 3,955p.
- Anglo’s Los Bronces-Andina deal with Codelco could bring in around 60,000 tonnes of copper a year, assuming permits, or roughly 8% of its 2026 guidance midpoint.
- SIX Swiss delisted Anglo on June 26. Anglo is still cleaning up its listing structure ahead of its Teck Resources Ltd (TSE:TECK.B) merger.
London Stock Exchange trading was closed over the weekend, with regular hours running 0800-1630 Monday to Friday. Anglo American plc (LON:AAL) closed at 3,718p Friday, the last quoted price for a stock that has slipped from 4,239p back on June 2.
Anglo shares edged up 0.43% Friday, but the weekly move was rougher. The stock started last week at 3,890p, ticked up to 3,905p Monday, then slid 4.99% Tuesday and dropped another 2.64% Wednesday. A bounce over the next two sessions took some pressure off, but the stock still finished the week 4.4% lower. By contrast, the FTSE 100 (INDEXFTSE:UKX) dipped 0.21% Friday but put in a 1.40% gain for the week.
Anglo and state copper company Codelco finalized a joint mine plan deal for Los Bronces and Andina on June 24, after getting competition and regulatory sign-off. The agreement will add 2.7 million tonnes of copper over the next 21 years, or 120,000 tonnes a year, split evenly. The deal is in Chile, not seen in day-to-day trading.
Anglo would get around 60,000 tonnes a year from the plan, but that’s before permits and final rollout. Compared to Anglo’s 2026 copper guidance of 700,000-760,000 tonnes, that’s about 8.2% of the midpoint. It also equals roughly 35% of the 170,400 tonnes Anglo put out in the first quarter. The project isn’t slated to start up before permits expected by 2030.
Investors are putting a premium on copper growth without the price tag of building a new giant mine. Anglo and Codelco put the pre-tax shared value at no less than $5 billion, saying the extra copper would need little extra capital. Timing could be the issue. Permitting, not the rocks, is the next hurdle.
Anglo CEO Duncan Wanblad said getting permits is “the next important milestone” for Los Bronces-Andina. Codelco Chairman Bernardo Fontaine said the deal is “a more efficient and responsible way” to develop the district. Angloamerican
The deal comes as copper prices are trading near records, Reuters said Friday. Smelter treatment charges have dropped to zero on benchmark terms, even turning negative in spot markets for months. That suggests mined concentrate is still the tightest part of the supply chain.
Anglo is cutting listing friction. SIX Exchange Regulation said it will delist Anglo’s ordinary shares from the SIX Swiss Exchange on June 26. The last trading day will be June 25, after the regulator approved Anglo’s application back in March.
Merger with Teck Resources Ltd (TSE:TECK.B) is the core deal. Teck said both sides plan to create Anglo Teck, headquartered in Canada. The group would rank among the top five copper producers, with over 70% tied to copper. Canada approved the deal under the Investment Canada Act, and shareholders voted in favor.
Anglo said in its Q1 update that its deal with Teck is still expected to close between September 2026 and March 2027. China antitrust clearance is the last big regulatory hurdle, along with other usual closing conditions.
Anglo has no company report set for next week on the investor calendar. Next up are its Q2 production report on July 23 and half-year results on July 30.
