• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    Anglo American Seeking Partner: Must Love Copper

    Scott Tibballs
    May. 17, 2018 04:45PM PST
    Base Metals Investing
    LSE:AAL

    Anglo American is reportedly much closer to making a decision on the future of its Quellaveco copper project in Peru. Mitsubishi is rumored to be a potential buyer of part of the company’s 82-percent stake.

    Anglo American (LSE:AAL) is reportedly much closer to making a decision on the future of its Quellaveco copper mine in Peru.

    Sources told Reuters on Thursday (May 17) that Mitsubishi (TSE:8058) is among the potential buyers of part of the company’s 82-percent stake.

    The US$5-billion project in Southern Peru has been stalled since 2013, but there have been rumblings that the operation could be restarted since earlier this year. The company said in 2017 that it was planning to offload part of its share of the project in a bid to lower costs.

    Reuters sources said that Anglo American has hired investment banks Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) to help with the sale, and that details will be announced within two months — within the timeframe set by the company on the project’s future.

    Last month, the head of Anglo American’s copper business, Hennie Faul, told Bloomberg that the company is in the final stretch of bringing in a partner to shoulder some of the costs.

    Mitsubishi is the company’s current partner, holding 18.1 percent of the project. The Japanese firm is interested in raising its stake in Quellaveco, but there are other prospective buyers, Faul said at the time.

    Anglo American intends to retain 51-percent ownership and remain as operator. The company produced 155,000 tonnes of copper in Q1 2018, up 9 percent on Q1 2017, when it produced 143,000 tonnes.

    Quellaveco is projected to produce 225,000 tonnes of copper per year, which would just barely put it in the top 20 copper mines globally, and would ensure Peru retains its position as the second-largest copper-producing country.

    Shares of Anglo American closed down GBX 9.20 or 0.49 percent on the London Stock Exchange on Thursday, at GBX 1,883.20.

    The price of copper on the London Metal Exchange is currently sitting at US$6,773.5.

    Don’t forget to follow us @INN_Resource for real-time updates!

    Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

    anglo americancopper investinglse:aal
    The Conversation (0)

    Go Deeper

    AI Powered
    Copper pipes laid on top of each other in bundles.

    5 Best-performing Copper Stocks on the TSX in 2025

    Close-up of stacked copper pipes with hollow circular openings.

    Anglo American and Teck to Merge, Forming US$53 Billion Global Copper Powerhouse

    Latest News

    Copper Quest Announces Multi-National Investor Awareness Campaign

    Bold Ventures Announces Prospecting and Sampling Results and Mobilizes Crew to Burchell Gold and Copper Project

    Heritage Mining Plans Aggressive Program at Zone 3 Extension Mega-Quartz Vein System at its Flagship Drayton-Black Lake Project

    Quetzal Copper Announces Refiling of June 30, 2025 Financial Statements

    Olympic Domain Project Update with BHP

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Empire Metals

    EPMLF

    Corazon Mining

    CZN:AU

    Blackstone Minerals

    BSX:AU

    Osisko Metals: Pure Potential

    OM:CA

    Los Andes Copper

    LA:CA

    Questcorp Mining

    QQQ:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×