The companies aim to enhance efficiency, resource utilisation and sustainability while maximising copper production in the region.

Chilean state-run copper giant Codelco and London-listed miner Anglo American signed a memorandum of understanding to jointly operate neighboring copper mines in central Chile, the companies announced on Thursday.

They will jointly develop their adjacent Los Bronces and Andina mines,in a bid to boost copper production without major investments.

Chilean state-run copper giant Codelco and London-listed miner Anglo American are set to announce a deal to jointly operate neighboring copper mines in central Chile, according to a report by newspaper La Tercera late on Wednesday.