$5bn Anglo copper project going ahead in Peru

Expected payback on the $5-billion copper project that Anglo American is leading in partnership with Mitsubishi is four years after initial production, Anglo CE Mark Cutifani said on Thursday, when the company announced the go-ahead for the development of the new community-backed low-cost, long-life Quellaveco copper mining project in Peru. “It’s a portfolio-changer for us as a group,” said Cutifani, who sees significant potential beyond the stated 30-year reserve life.