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Anglo American Slows Quellaveco Copper Project Construction Over COVID-19 Spread

Anglo American plc (AAL.L) announced the temporary withdrawal of majority of employees and contractors from its Quellaveco copper project in Peru, due to a 15-day national quarantine by the Government of Peru to curb the spread of COVID-19.

Anglo American expects construction work on the project to be significantly slowed, with only critical areas of the project continuing as normal.

Anglo American's Quellaveco copper project is expected to begin production in 2022. Quellaveco is expected to produce approximately 300,000 tonnes per year at a cash cost of $1.05 per pound of copper in the first ten years of full production.

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