First copper extracted from Anglo American's Quellaveco project

Anglo American has produced the first copper concentrate from its Quellaveco project in Peru, the mining giant announced on Tuesday.

The blue chip called it a "major milestone" ahead of receiving final regulatory clearance for commercial operations at the open pit copper mine to begin.

Tom McCulley, until recently Anglo America’s group head of projects and chief executive of Anglo American in Peru, said: "First copper production in Quellaveco is a key milestone in our delivery of this world-class asset, on time and on budget.

"The first production of copper concentrate marks the beginning of the normal period of testing the processing plant with ore and the ramping up of mining activities to demonstrate readiness for operations."

Adolfo Heeren, current chief executive of Anglo American in Peru, said: "Once in full operation, Quellaveco alone with increase Peru’s copper production by around 10% and deliver sustainable benefits for decades to come."

Quellaveco, which is located in the Moquegua region in the south of the country, is expected to produce 300,000 tonnes of copper equivalent per year on average over the first decade of operation. It has an estimated 1.7bn tonnes of ore reserves and 8.9m tonnes of contained copper.

It is expected to reach design production capacity in 12 months.

McCulley, who has led the development of Quellaveco, was appointed chief executive of crop nutrients in January.