SANTIAGO, May 9, 2026, 14:04 CLT
- Anglo American is seeking environmental approval for a $295 million proposal at its El Soldado copper mine in Chile.
- The company wants to extend the mine’s life past 2027, aiming to keep processing running until 2045, according to the filing.
- Anglo is making the move as it looks to highlight its copper-focused strategy ahead of the proposed Teck Resources merger.
Anglo American has put forward a $295 million proposal to Chile’s environmental review system aimed at keeping its El Soldado copper mine running through 2045. The mid-sized mine, operated by the London-listed group since 2002 in the Valparaíso region, would see new open-pit phases, the underground mine reopened, and expanded tailings infrastructure, according to Diario Financiero’s Thursday evening report.
Timing is key here. Anglo is under pressure to show it can safeguard and grow its copper output, even as it sheds underperforming divisions and gets ready for a merger with Teck Resources—a tie-up the firms claim would vault them into the global copper top five. Of all the metals in Anglo’s new-look portfolio, copper stands out for investors. It’s essential for power grids, EVs, and a raft of clean-energy tech.
The “Proyecto Desarrollo El Soldado” aims to process as much as 6 million tonnes of material annually from 2030 to 2045, Chilean mining outlet Reporte Minero reported, referencing the project’s environmental filing. The proposal outlines a tailings classification and thickening facility, plans to reuse disturbed land, and systems designed for water recovery. Reporte Minero
El Soldado doesn’t match the scale of Collahuasi or Los Bronces. Still, Anglo’s Chile website puts its 2025 output at 42,605 tonnes of fine copper in concentrate, with a workforce of around 650, counting both employees and contractors. The site stands out as a proving ground for Anglo’s push to squeeze more out of aging copper mines using tech-heavy solutions like bulk sorting—a method targeting higher-grade rock before it hits pricier downstream processing.
Labour and permits are in focus here. According to Reporte Minero, construction is expected to run for about 18 months, hitting a peak workforce of 944. When it comes to the operating phase, figures jump—on average, 1,480 staff, peaking at 1,750. The project filed as an Environmental Impact Study (EIA), which is Chile’s more rigorous review process, triggered when projects could impact resources, protected zones, or the quality of air, water, or soil.
The risk is real: approval isn’t guaranteed. Back in December 2024, Chile’s environmental regulator slapped Anglo American Sur with major charges over alleged violations at El Soldado, warning the company could lose its permit, be forced to close, or be fined if problems persisted. Anglo told Reuters at the time it was addressing the regulator’s concerns and remained committed to its environmental responsibilities.
The Chile plan lands alongside a fresh move by Anglo. On May 7, Fluor announced it’s been tapped for feasibility-study work at Anglo’s Woodsmith mine in North Yorkshire, England. The value of the contract hasn’t been disclosed, but Fluor will add it to the books in the second quarter of 2026. Woodsmith is focused on polyhalite—a naturally occurring fertiliser mineral packed with several essential plant nutrients.
Fluor’s Mining & Metals president Harish Jammula called the Woodsmith project “a long-term, stable and sustainable naturally occurring source of critical fertilizers for global markets,” according to the company’s statement. Construction has already begun on tunnelling and shaft sinking, Fluor noted. Once fully up and running, the project is targeting annual production of 13 million tonnes of polyhalite fertiliser. Fluor Newsroom
Anglo’s newest production update kept the timeline for its planned tie-up with Teck unchanged, aiming for a close somewhere between September 2026 and March 2027. According to the company, the only major regulatory step still pending is Chinese antitrust sign-off. In the same release, Anglo reported ongoing progress on the sale of its steelmaking coal unit, and said it’s still moving forward with efforts to split off De Beers, its diamond arm.
Rivalry looms close. BHP, with a 57.5% stake in Chile’s massive Escondida copper mine, faces Rio Tinto at 30%, and Glencore, which matches Anglo’s 44% share at Collahuasi. This is the lineup Anglo’s Chilean copper operations are up against—especially if delays in permitting or rising costs start to squeeze returns at older mines like El Soldado.
Anglo finished Friday in London at 3,849 pence, gaining 0.26% and valuing the company at roughly 41.24 billion pounds, according to AJ Bell. Looking ahead, traders are eyeing more than just a Chilean filing; Anglo faces a knot of variables — El Soldado, Woodsmith, asset sales, Teck sign-offs — all needing to line up before a streamlined, copper-focused future comes into view.
