ANGLO AMERICAN: QUELLAVECO ACHIEVES COMMERCIAL COPPER OUTPUT

Global miner Anglo American has trimmed first-year production guidance for its Quellaveco copper mine in Peru after beginning commercial operations and embarking on a ramp-up over 9-12 months to full production.
After operational testing, however, Anglo American predicts FY2022 production of 80,000-100,000t at C1 costs of $US1.50/lb - down from its previous forecast of 100,000-150,000t at $1.35/lb.
Forecast production for FY2023 and FY2024 remains 320,000-370,000tpa and longer-term guidance at Quellaveco remains 300,000tpa copper equivalent over its first 10 years.
Chief executive Duncan Wanblad says Quellaveco is expected to lift Anglo American's total global output by 10% in copper equivalent terms and take total copper production close to 1Mtpa.