REG - Anglo American PLC - Permitting process of Los Bronces project

Anglo AmericanAnnouncement

25/04/2022 07:00

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RNS Number : 1266J  Anglo American PLC  25 April 2022

 23 April 2022
 Anglo American statement re. Los Bronces project permitting

Anglo American plc ("Anglo American") is currently engaged in an environmental
assessment process for its Los Bronces Integrated Project (LBIP) in Chile, a
process which began in 2019. LBIP is a mine life extension project which
expands the current open pit within Los Bronces' operating site and replaces
future lower grade ore by accessing higher grade ore from a new underground
section of the mine. The project uses the mine's existing processing
facilities, optimises water efficiency, and requires no additional water or
tailings storage facilities. LBIP represents a significant investment in the
future of one of Chile's largest copper mines and is an example of modern
mining where the full range of sustainability considerations have been
consulted on and designed in from the outset.

 

Anglo American notes the recommendation published by the Environmental
Assessment Service of Chile (SEA) to reject the permitting application for the
Los Bronces Integrated Project. The SEA has confirmed that LBIP satisfies all
relevant environmental regulation but bases its adverse recommendation on an
alleged lack of information during the evaluation process to fully remove any
doubts about a potential risk to public health. The SEA's recommendation is
despite the strong support for the project offered to date by 23 of the 25
technical services bodies and government ministries that form part of the
assessment process. A decision on the LBIP permit application by the SEA is
expected within the next week.

 

Anglo American welcomes the SEA's confirmation that LBIP meets all the
required environmental regulatory criteria. Anglo American also firmly
believes that all appropriate information has been provided throughout the
evaluation process, and that this information has been appropriately
socialised at every available opportunity within the regulated permitting
process, including through formal meetings and via written submissions.

 

LBIP has been designed with the benefit of ten years of scientific studies and
a thorough and transparent consultation process with local communities and the
relevant authorities. Mitigation measures will compensate for 120% of the
emissions created by the project and Los Bronces' current operations, both
during construction and in operation, thereby improving local air quality. The
result is a project that has been configured specifically to protect the local
environment, without any impact on biodiversity or on the nearby protected
areas or glaciers.

 

In the event of a negative decision from the SEA, the permitting process
allows for further review to evaluate the full range of merits of the project
alongside the technical permitting considerations. Anglo American is committed
to following the established process and is working with the Chilean
authorities to demonstrate that all potential impacts have been fully
mitigated and to secure approval for the project.

 

Current copper production guidance in respect of 2022 and 2023 is unchanged.
Production guidance remains subject to water availability and the ongoing
effects of Covid-19.

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Juliet Newth

                                                                                  juliet.newth@angloamerican.com (mailto:juliet.newth@angloamerican.com)
 Katie Ryall

                                                                                  Tel: +44 (0)20 7968 8830
 katie.ryall@angloamerican.com (mailto:katie.ryall@angloamerican.com)

 Tel: +44 (0)20 7968 8935

                                                                                  Michelle Jarman

                                                                                  michelle.jarman@angloamerican.com (mailto:michelle.jarman@angloamerican.com)
 South Africa

 Nevashnee Naicker                                                                  Tel: +44 (0)20 7968 1494

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

Notes to editors:

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of diamonds (through De Beers), copper, platinum
group metals, premium quality iron ore and metallurgical coal for steelmaking,
and nickel - with crop nutrients in development - we are committed to being
carbon neutral across our operations by 2040. More broadly, our Sustainable
Mining Plan commits us to a series of stretching goals to ensure we work
towards a healthy environment, creating thriving communities and building
trust as a corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural resources
for the benefit of the communities and countries in which we operate, for
society as a whole, and for our shareholders. Anglo American is re-imagining
mining to improve people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

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Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

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