Anglo American plans $26M upgrade for Quellaveco mine

[Redator]

Anglo American (LON: ANGLO) is planning an almost $26 million upgrade at its Quellaveco copper mine in Peru, aiming to boost output and improve sustainability as global demand for energy transition metals rises.

The company has filed its 13th supporting technical report (ITS) with Peru’s environmental certification agency, Senace. Prepared by consulting firm Insideo, the report outlines five key modifications scheduled for implementation between 2025 and 2027. The review process is expected to take three to four months.

Proposed changes include optimizing mine access near the waste material dump, implementing new water management systems such as ponds, canals, and check dams, and increasing the movement of mined material from 140 to 150 million tonnes annually.

Anglo American will also update its environmental monitoring plan and conduct drilling to confirm additional reserves.

Exploration drilling is expected to take the longest, while the other upgrades should wrap up by mid-2026.  It is estimated the work will require 111 temporary workers.

According to the changes proposed in the latest ITS, the pit will have a useful life of 17 years. The concentration plant will process ore stockpiled during active mining. Tailings will be disposed of at the Cortadera tailings dam.

The plant is expected to remain operational until year 34, processing high-grade waste to produce concentrates and tailings. The tailings will be thickened to extract “fines,” which will be placed in the pit over a rockfill lining as part of a co-disposal plan.

Quellaveco produced 79,900 tonnes of copper in the first quarter of 2025, up from 72,000 tonnes a year earlier. Anglo American’s full-year production guidance is 310,000 to 340,000 tonnes. The mine, which opened in 2022, has an expected mine life of 36 years and annual capacity of 300,000 tonnes in its first 10 years of operations. It already contributes over 10% of Peru’s copper output.

The site will soon be powered entirely by renewable electricity, part of a broader push by the company to reduce its environmental footprint. Anglo American is also investing in local development, supporting water access projects and entrepreneurship programs in nearby communities.