Quellaveco, Anglo American’s Peruvian copper mine, boosted the multinational’s red metal production during the first quarter.
Company-wide output grew 28% to 178,000t compared to the same period 2022, despite a 15% drop in Chile to 118,600t.
Quellaveco, in Moquegua region, began commercial operations last September. However, its output fell 27% compared to the last quarter of 2022 to 59,500t.
Sales were 69,000t in 1Q23 compared to 72,200t in 4Q22.
According to Anglo American, the lower production is explained by plant maintenance carried out during the period, as well as tests to confirm and complete the construction of all the infrastructure linked to the project. Given the uncertainty resulting from protests, the company prioritized moving forward with these works.
According to the mines and energy ministry, Quellaveco produced 37,310t of copper in January and February. Based on that figure and Anglo American’s, March production would have risen to over 22,000t.
Anglo says Quellaveco’s production is still expected to be between 310,000t and 350,000t this year as the mine ramps up.
The company will invest up to US$100mn this year to complete the ramp-up. Meanwhile, the molybdenum plant started production at the beginning of April and is also being ramped up.
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