(Alliance News) - Anglo American PLC said on Thursday that it has signed a deal with Aurubis AG to develop a sustainable copper product venture.
The London-based mining company said that the partnership aims to provide "assurance" about the way that copper is mined, processed, transported and brought to market. This is for the purpose of meeting increasing expectations for metals that are sustainably sourced and supplied.
Together, the companies will also explore the opportunity for technology-driven traceability solutions for the entire production cycle, as well as areas of common interest in technology development, it said.
Aurubis is a Hamburg-headquartered mining company and the largest copper producer in Europe, as well as the largest copper recycler worldwide.
"Together with Aurubis, and in line with our sustainable mining plan goal to establish ethical value chains, we are engaging with industry participants to optimise the value that responsible supply can provide. The value chain starts from our portfolio of high-quality and long-life resource assets, now including our new world-class Quellaveco mine in Peru, and we are now working to establish a more comprehensive and integrated approach along the entirety of what is a fragmented mine-to-customer journey," Anglo American Chief Executive Peter Whitcutt said.
Anglo American shares were trading 0.7% higher at 3,213.00 pence in London on Thursday morning. In Johannesburg, the stock was down 0.1% at ZAR656.55.
Aurubis shares were up 0.4% at EUR73.68 on Thursday morning in Frankfurt.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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