The Los Bronces Development Project
Anglo American started up operations in Chile in 1980 by acquiring 40% of Empresa Minera de Mantos Blancos S.A., which mined the deposit of the same name in Region II. We became the majority partner of Mantos Blancos in 1984.
Between 1988 and 1992, we exercised our purchase option on the Mantoverde deposit, located in Region III, which became part of Empresa Minera de Mantos Blancos S.A.
In 1996, we acquired a 44% interest in Compañía Minera Doña Inés de Collahuasi, which has a deposit in Region I.
In 2000, we increased our stake in Empresa Minera de Mantos Blancos S.A., currently Anglo American Norte S.A., to 99.97%.
In 2002, we acquired Compañía Minera Disputada de Las Condes, now Anglo American Sur S.A., adding the El Soldado, Chagres Smelter and Los Bronces divisions to its operations.
As of 2004, we implemented major projects, such as the Los Bronces Development, the Chagres smelter optimization and the El Soldado pit extension.
In 2007, approval was given for and construction started on the Los Bronces Development Project, which entails an investment of US$2.3 billion to US$2.4 billion and the aim of which is to build new grinding, ore conveyance and concentration facilities to increase the division's production capacity to an average of 400,000 tonnes of fine copper a year.
In 2009, we announced two important high quality copper prospects, San Enrique Monolito and Los Sulfatos. They are close to Los Bronces and jointly have inferred resources of 2.1 billion tonnes of ore, which will increase our copper ore resources by 50%.