Anglo American’s $5.3bn new Quellaveco copper mine in Peru promises to be strongly cash generative over decades with the potential to add a similar sized project nearby, says Tom McCulley, CEO of Anglo American in Peru.

In what could be one of the world’s last major copper mines of this scale, Anglo has shared the risk by selling a 40% stake in the project to Japan’s Mitsubishi, bringing its capital down to a more palatable $2.7bn and a four-year payback.

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