Anglo American plc provided production guidance for the year 2022. The company expects that Quellaveco will ramp up fully over the next 9-12 months. Following a thorough commissioning and testing period, and receipt of final regulatory clearance, production guidance for Quellaveco in 2022 is revised to 80,000-100,000 tonnes of copper (previously 100,000-150,000) at a C1 unit cost of c.150c/lb, previously c.135c/lb.

Production guidance for Quellaveco in 2023 and 2024 is unchanged at 320,000-370,000 tonnes of copper. The company expects production for Chile is tightened to 560,000-580,000 tonnes of copper (previously 560,000-600,000 tonnes) due to lower throughput at Los Bronces caused by a combination of water restrictions and a change in ore characteristics. 2022 C1 unit cost guidance is revised to c.160c/lb (previously c.150c/lb), reflecting the impact of lower volumes and inflation.