Anglo American production up 4% in Q3; tightens copper, thermal coal guidance

  • Tue 22 Oct 2019 07:41

    Anglo American said full-year copper and thermal coal production would be at the lower end of their guidance ranges.

    The company reported a 4% rise in the third-quarter output, as a fall in copper, coal and diamond production kept a lid on growth.

    Still, the company said it remained broadly on track to deliver within its full-year production targets, with an increase in production guidance at Minas-Rio.

    Copper production decreased by 8% to 158,900 tonnes due to unprecedented drought conditions impacting Los Bronces in Chile.

    Copper production guidance was tightened to a range of 630,000 to 650,000 tonnes (previously 630,000 to 660,000 tonnes) due to the severe drought, which also remained a risk for 2020 production, the company said.

    Production guidance for export thermal coal was tightened to about 26m tonnes from a range of 26m to 28m tonnes due to lower than expected production from Cerrejón, the company added. De Beers' diamond production decreased by 14% to 7.4m carats due to planned mine closures and the underground transition at Venetia. Production guidance was unchanged at about 31m carats. In iron ore, production guidance for Kumba was unchanged at 42m to 43m tonnes, but Minas-Rio production guidance for 2019 was increased to 20 to 22m tonnes (previously 19-21 million tonnes) based on continued strong performance.



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Anglo American (AAL)

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