The company had warned it would evaluate options for the mine, including walking away form it, if it didn’t receive the necessary permits.
Anglo American PLC Mining News
Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.
The world's number five diversified miner posted its first annual net profit in five years.
The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.
While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.
Decision follows a fresh attack by hooded protesters who seized installations over the weekend.
About 100 hooded protesters have seized parts of the copper mine, Anglo American's biggest operation in Chile.
Anglo American is sounding out investors about a multi-billion pound spin-off of its South African operations in an attempt to pacifiy growing pressure from its biggest shareholder to consider a radical break-up.
Shares were up more than 5% after the firm posted higher output across all divisions, except for copper, and said market conditions for its diamond business had improved.
Los Bronces, Anglo American’s flagship operation, is expected to produce between 600,000 and 630,000 tonnes of copper this year.
Firms says the affected pipe only carries ground ore mixed with water.
One of the miner’s worst kept secret may be revealed as soon as Tuesday.
A month after Anglo completed the sale of Mantos Blancos and Mantoverde copper mines in northern Chile, analysts are calling into question the firm’s chance to unload two other assets.
The announcement comes only days after Anglo announced a $330m deal to sell lossmaking South African platinum mines to Sibanye Gold.
The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.
According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.
This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.
It would be the first time since 2009 that Anglo has to cut dividends.
Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.
The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.
The environmental watchdog said the fine was calculated based on at least five infractions detected at the operation and the mine's facilities.
Anglo’s assets up for grabs include three mines and a smelter valued at $1 billion.
The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.
The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.
Anglo’s boss Mark Cutifani says company needs to find an extra $2 billion of earnings before interest and tax to meet the return on capital target set for 2015.