Unlocking Value and Performance Outlook
Key projects driving growth capex
Major components of growth capex ($bn)
Guidance
~1.4
(previously-1.5)
~1.2
(previously-1.8)
~1.3
(previously-1.8)
~1.3
Collahuasi2 (Copper)
~0.2
-0.1
-0.1
Quellaveco³ (Copper)
~0.1
Woodsmith4
~0.7
~0.9
-1.0
~1.0
Technology & innovation
~0.3
2023F
~0.2
2024F
~0.1
2025F
-0.1
2026F
1. Cash expenditure on property, plant and equipment including related derivatives, net of proceeds from disposal of property, plant and equipment and includes direct funding for capital expenditure from non-controlling interests. Consequently, for Quellaveco,
growth capex reflects our attributable share. Guidance includes unapproved projects and is, therefore, subject to the progress of project studies, and unapproved Woodsmith capex of -$1bn pa is included after 2024.
2. Attributable share of Collahuasi debottlenecking project capex at 44%.
3. Attributable share of Quellaveco project capex at 60%.
4. Capex spend for 2020-2024 is approved. In 2025 and 2026, indicative Woodsmith capex is included, subject to Board approval.
Anglo American
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