A worker is seen at Anglo American's Los Bronces copper mine in Chile. The deal will merge certain operations at Anglo American’s Los Bronces mine and Codelco’s Andina mine in the Andes mountains of central Chile

Anglo American and Chile’s state-run Codelco have finalized an agreement to jointly operate their neighbouring Chilean copper mines in a deal aimed at generating at least $5-billion from higher production and cost savings, they said on Tuesday.

The plan will bring together certain operations at Codelco’s Andina mine and Anglo American’s Los Bronces mine in the Andes mountains of central Chile, boosting production by 120,000 metric tons of copper a year and reducing costs by about 15 per cent per ton.

Los Bronces last year produced 172,000 tons of copper, while Andina produced 1

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