Multinational resource group Anglo American (LSE: AAL) will announce the fate of expansions at its Los Bronces copper mine in Chile on December 17, company spokespersons told BNamericas.
On that day the company will also announce the results of a revision of the entire group's spending portfolio for 2009, Anglo American reported in a release.
However, the company did not comment on a Friday report by Santiago newspaper Diario Financiero saying it aimed to delay the expansion of Los Bronces.
The report stated that Anglo American did not intend to reduce the scope of the expansion or make structural changes to it, but would slow its rate of progress.
Anglo American kicked off a US$1.7bn expansion at Los Bronces in late 2007 to increase annual output from some 226,000t to roughly 400,000t in 2011.
In Chile the company also has a 44% stake in the Collahuasi copper mine, and 100% of the El Soldado, Mantoverde and Mantos Blancos mines, and Chagres smelter.
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