Anglo American said on Thursday it and Jiangxi Copper Company (Jiangxi Copper), one of China’s largest copper producers, had signed a memorandum of understanding to work together to provide greater assurance on the way copper was mined, processed, and brought to market.
According to Anglo American, the agreement was signed during a visit to Jiangxi Copper’s headquarters in Nanchang, China, and is part of Anglo American’s work with customers to create sustainable value chains beyond its mining operations, recognising consumers’ increasing expectations for sustainably sourced and supplied raw materials.
Anglo American marketing CEO Peter Whitcutt said: “We are developing a series of partnerships to shape a more sustainable and customer-centric value chain – one that meets consumer-driven demand for copper with demonstrably strong provenance credentials. That value chain begins with our portfolio of high-quality and long-life assets, now also including our world-class Quellaveco mine in Peru which began production in 2022.
“In line with our Sustainable Mining Plan goal to establish ethical value chains for our products, this collaboration aims to support Jiangxi Copper’s efforts to contribute to the Chinese industry’s long-term decarbonisation goals and transition to a greener economy, as we work to provide materials solutions that are responsibly produced, sourced, and delivered.”
China is the world’s largest copper-consuming nation, representing more than half of the global demand for refined copper, fuelled by traditional applications in construction, appliances, and machinery as well as the fast-growing renewable energy and electric vehicle sectors, with copper expected to play a pivotal role in enabling the country’s decarbonisation progress.
Jiangxi Copper deputy general manager Chen Yunian said: “As one of the world’s largest copper producers, Jiangxi Copper is committed to green, sustainable, and high-quality development. Through this co-operation with Anglo American, we will focus on advanced technologies and innovative applications of mining, processing, and smelting, and promote the development of a sustainable and responsible copper supply chain with a focus on renewable energy utilisation, energy conservation, and emission reduction.”
Anglo American’s managed copper operations in Chile – the Los Bronces and El Soldado mining operations and the Chagres smelter – were awarded the Copper Mark, the assurance standard for responsible production practices, in 2022.
BUSINESS REPORT