Strengthening the cooperation between Mitsubishi Japan and Anglo-American in Peru`s copper mines

According to the report, according to the CRU, if the agreement is approved and legal licensing, Mitsubishi`s share of the Quellevco mine will increase by 40%, while Anglo American will retain 60% of the mine`s reserves.

The proposed payment terms will include $ 500 million after the mine closes, $ 50 million after the ore processing rate reaches at least 150 thousand tons per day and $ 50 million after reaching the rate to at least 180 thousand tons a day.

This capital will be used to finance some of Anglo American`s investment costs for the development of the Quellaveco mine.
The company is waiting for the Mitsubishi company`s support and its support for the development of the mine," said Mark Cutifani, director of the company.

The quellaveco mine is designed to produce an average of 300,000 tons of copper per year. According to the approval of the company`s board of directors, the development plan will begin in the second half of this year and is expected to produce the first copper product in 2022.