REG - Anglo American PLC - Sakatti awarded ‘Strategic Project’ status

Anglo AmericanAnnouncement

25/03/2025 10:45

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RNS Number : 0791C  Anglo American PLC  25 March 2025

 25 March 2025
 Sakatti copper project in Finland awarded 'Strategic Project' status by
 European Commission

Anglo American's Sakatti copper and polymetallic project in Finland has been
designated as a 'Strategic Project' by the European Commission under the
European Union's (EU) Critical Raw Materials Act (CRMA). Under the CRMA,
Strategic Projects are considered to be in the public interest due to their
importance in ensuring security of supply of strategic raw materials in the
EU, thereby benefiting from more efficient processing of permitting
applications and therefore more predictable development timelines.

 

Alison Atkinson, Anglo American's Projects & Development Director, said:
"We are delighted to be awarded Strategic Project status for Sakatti - an
important milestone for this exceptional mineral deposit with a high
concentration of future-enabling metals, including a primary product of
copper, very much aligned with Finland's and the EU's critical raw materials
priorities.

 

"The EU currently produces about 4% of the critical minerals it needs and has
a stated ambition to increase this to 10%. With Sakatti expected to deliver
around 100,000 tonnes of copper equivalent metal production per year from the
early 2030s, we expect to play a significant role in helping to build Europe's
capacity and secure the responsible supply of the metals and minerals required
for decarbonising our energy and transport systems, numerous advanced
technologies, and meeting the fast-growing demands of hundreds of millions of
people in their everyday lives."

 

Anglo American has a number of well-sequenced brownfield and greenfield
prospects for a pathway to more than one million tonnes of annual copper
production, which includes the greenfield Sakatti project. Last year marked 20
years of Anglo American in Finland, having begun mineral exploration activity
in 2004 and discovered the Sakatti deposit in 2009. Located in Finnish
Lapland, 15 kilometres north of Sodankylä, we are applying our blueprint for
responsible mining to design and develop Sakatti as one of our next generation
of FutureSmart mines - a highly automated, low-carbon underground operation
with minimal surface footprint.

 

Finland provides a stable and secure source of many of the metals and minerals
needed for the world to decarbonise, as well as longstanding processing and
refining capability, bringing benefits across the Nordic region. With an
increasing number of countries prioritising sustainable access to responsibly
sourced critical raw materials, Finland is well positioned in terms of its
natural resources and the country's investment across the critical minerals
value chain, from exploration to mining, processing, and recycling.

 

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Tyler Broda

 james.wyatt-tilby@angloamerican.com                                                tyler.broda@angloamerican.com
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 1470
 Tel: +44 (0)20 7968 8759

                                                                                  Michelle West-Russell
 Marcelo Esquivel

                                                                                  michelle.west-russell@angloamerican.com
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)     (mailto:michelle.west-russell@angloamerican.com)

 Tel: +44 (0)20 7968 8891                                                           Tel: +44 (0)20 7968 1494

 Rebecca Meeson-Frizelle                                                            Asanda Malimba

 rebecca.meeson-frizelle@angloamerican.com                                          asanda.malimba@angloamerican.com
 (mailto:rebecca.meeson-frizelle@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8480
 Tel: + 44 (0)20 7968 1374

 South Africa

 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Ernest Mulibana
 ernest.mulibana@angloamerican.com (mailto:ernest.mulibana@angloamerican.com)

 Tel: +27 82 263 7372

Notes:

Anglo American is a leading global mining company focused on the responsible
production of copper, premium iron ore and crop nutrients - future-enabling
products that are essential for decarbonising the global economy, improving
living standards, and food security. Our portfolio of world-class operations
and outstanding resource endowments offers value-accretive growth potential
across all three businesses, positioning us to deliver into structurally
attractive major demand growth trends.

 

Our integrated approach to sustainability and innovation drives our
decision-making across the value chain, from how we discover new resources to
how we mine, process, move and market our products to our customers - safely,
efficiently and responsibly. Our Sustainable Mining Plan commits us to a
series of stretching goals over different time horizons to ensure we
contribute to a healthy environment, create thriving communities and build
trust as a corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural resources
for our shareholders, for the benefit of the communities and countries in
which we operate, and for society as a whole. Anglo American is re-imagining
mining to improve people's lives.

 

Anglo American is currently implementing a number of major structural changes
to unlock the inherent value in its portfolio and thereby accelerate delivery
of its strategic priorities of Operational excellence, Portfolio
simplification, and Growth. This portfolio transformation will focus Anglo
American on its world-class resource asset base in copper, premium iron ore
and crop nutrients, once the sale of our steelmaking coal and nickel
businesses, the demerger of our PGMs business (Anglo American Platinum), and
the separation of our iconic diamond business (De Beers) have been completed.

 

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

 

 

 

 

Group terminology

In this document, references to "Anglo American", the "Anglo American Group",
the "Group", "we", "us", and "our" are to refer to either Anglo American plc
and its subsidiaries and/or those who work for them generally, or where it is
not necessary to refer to a particular entity, entities or persons. The use of
those generic terms herein is for convenience only, and is in no way
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structured, managed or controlled. Anglo American subsidiaries, and their
management, are responsible for their own day-to-day operations, including but
not limited to securing and maintaining all relevant licences and permits,
operational adaptation and implementation of Group policies, management,
training and any applicable local grievance mechanisms. Anglo American
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the day to day implementation of such policies. Such policies and procedures
constitute prescribed minimum standards only. Group operating subsidiaries are
responsible for adapting those policies and procedures to reflect local
conditions where appropriate, and for implementation, oversight and monitoring
within their specific businesses.

 

Disclaimer

This document is for information purposes only and does not constitute, nor is
to be construed as, an offer to sell or the recommendation, solicitation,
inducement or offer to buy, subscribe for or sell shares in Anglo American or
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or other advice and has no regard to the specific investment or other
objectives, financial situation or particular needs of any recipient.

 

Forward-looking statements and third party information

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, prospects and projects (including
development plans and objectives relating to Anglo American's products,
production forecasts and Ore Reserve and Mineral Resource positions) and
sustainability performance related (including environmental, social and
governance) goals, ambitions, targets, visions, milestones and aspirations,
are forward-looking statements. By their nature, such forward-looking
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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
product prices, unanticipated downturns in business relationships with
customers or their purchases from Anglo American, mineral resource exploration
and project development capabilities and delivery, recovery rates and other
operational capabilities, safety, health or environmental incidents, the
effects of global pandemics and outbreaks of infectious diseases, the impact
of attacks from third parties on our information systems, natural catastrophes
or adverse geological conditions, climate change and extreme weather events,
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manner, the ability to produce and transport products profitably, the
availability of necessary infrastructure (including transportation) services,
the development, efficacy and adoption of new or competing technology,
challenges in realising resource estimates or discovering new economic
mineralisation, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, liquidity and
counterparty risks, the effects of inflation, terrorism, war, conflict,
political or civil unrest, uncertainty, tensions and disputes and economic and
financial conditions around the world, evolving societal and stakeholder
requirements and expectations, shortages of skilled employees, unexpected
difficulties relating to acquisitions or divestitures, competitive pressures
and 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 Guidance 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
included in this document is sourced from third party sources (including, but
not limited to, externally conducted studies and trials). 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.

©Anglo American Services (UK) Ltd 2025.  (TM) and (TM) are trademarks of
Anglo American Services (UK) Ltd.

 

 

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