LONDON, June 25, 2026, 09:24 BST
- Anglo shares gained 1.2% to 3,654 pence by 09:06 BST. The stock had finished down 2.6% on Wednesday.
- By these numbers, Anglo is set to end up with around 30,060 tonnes per year—4.1% of its copper-guidance midpoint now.
- Anglo’s portion of the reported pre-tax value comes to roughly $1.25 billion. The company still needs environmental permits.
Anglo American plc (LON:AAL) climbed in early Thursday trading in London. The company announced its Chile copper plan finished a day earlier, adding a headline 120,000 tonnes per year, though Anglo’s actual economic share amounts to around 30,060 tonnes based on its stake.
The delayed quote put the stock at 3,654 pence at 09:06 BST, up 42 pence, but still off 6.4% from Monday’s close. The FTSE 100 traded 0.3% higher than Monday. Shares in Anglo dropped 2.6% Wednesday.
Anglo and Codelco said Wednesday they finished final terms for a joint mine plan at the Los Bronces and Andina sites next to each other. The companies expect the plan to add 2.7 million tonnes of copper over 21 years, about 120,000 tonnes per year, split equally.
Anglo American Sur gets 60,000 tonnes a year in the first split. Anglo owns 50.1% of the firm, reducing its share to 30,060 tonnes. That’s 4.1% of Anglo’s 2026 copper guidance midpoint, which sits between 700,000 and 760,000 tonnes. The extra output doesn’t arrive until after 2030.
The calculation drops the project’s pre-tax net present value from $5 billion to around $1.25 billion for Anglo plc. Only the $1.25 billion can be counted for Anglo shareholders, not the whole $5 billion. The proposal should have unit costs about 15% lower than the current standalone plans for the two mines and requires little extra capital spending.
Goldman Sachs analyst Matt Greene said Anglo is looking for near-term copper growth mainly from lower-risk brownfield copper projects. He estimated that similar cross-border deals with other Anglo assets could bring down the group’s capex by around $15 billion in the next ten years.
Permits are still the main hurdle. Anglo Chief Executive Duncan Wanblad said “the timely receipt of the permits” is the next step before the companies can hit planned output and value goals. Final implementation is expected by 2030. Anglo American
Anglo and Codelco are going with an unusual approval process. Both will file two almost identical environmental studies in December 2026 for one joint pit, instead of a single application. Codelco needs to keep control of its concessions, making a joint bid impossible. The companies aim to carry out community outreach in the back half of 2026.
Anglo is set to release its second-quarter production numbers on July 23. Half-year results are due out July 30.
