Big miners’ capital discipline is good news for investors
Not, alas, for the planet
HIGH IN THE mountains of southern Peru lies Quellaveco, a vast open-pit copper mine. It is one of the world’s largest untapped deposits of the red metal. Anglo American, a mining giant and its majority owner, has, along with another investor, spent over $5bn getting it up and running. It is expected to come online in 2022. Once operational it will add more than 10% to the copper output of Peru, the world’s second-biggest producer of the stuff.
This article appeared in the Business section of the print edition under the headline “Rocks and hard places”
Business June 26th 2021
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