Home Business Anglo American receives green light to prospect copper in Brazil

Anglo American receives green light to prospect copper in Brazil



Anglo-South African multinational Anglo American is looking at copper mining deposits in Brazil and has already won several permits to carry out exploration in Mato Grosso and Pará. Currently the company only exploits iron ore and nickel in the country.

A potential non-ferrous metal reserve in the region of Alta Floresta, north of Mato Grosso, is optimistically viewed by the National Department of Mineral Production (DNPM) due to its high potential.

Would this be an opportunity for Anglo American, which currently operates Minas-Rio? unit of iron ore in Minas Gerais?and the nickel mines of Barro Alto and Niquelândia, both in the State of Goiás.

Minas Rio’s operations have been paralyzed since March and thus remain at least until the fourth quarter due to problems of twice-breaking pipes in the pipeline that carries the ore from Conceição do Mato Dentro to Porto Açú (RJ) ). Due to the two environmental impacts, the company was fined by state and federal environmental agencies.

Copper is seen as an essential metal for the manufacture of electric vehicles and a series of products that is expected in the next few years. It has wide application in the construction sector.

Anglo American currently controls three large copper mines in Chile? Collahuase and Los Bronces? and Peru, Quellaveco, in which he is responsible for operations. The company achieved a total production of 580 thousand tons during the year, generating a profit of US $ 1.5 billion before interest, taxes, depreciation and amortization (Ebitda). It also has two expansion projects: one in Peru (in Quellaveco) and another in Finland.

Anglo American has confirmed that it will prospect for copper in the Brazilian region, but said that the stage is still very early, without any elaboration of a project dedicated to the exploration of the reserves to be surveyed.