Anglo American says total production up 6%, driven by copper, coal

July 19, 2018, 6:31 pm | Admin

JOHANNESBURG – Multinational mining company Anglo American on Thursday reported a six percent increase in total production on a copper equivalent basis in the second quarter of 2018, compared to the same period last year.

CEO Mark Cutifani said the company had delivered a strong performance overall, "consistent and relentless focus on driving efficiency and productivity from our existing world class asset base".

Output from its diamonds subsidiary De Beers increased by three percent to nine million carats, reflecting sustained healthy trading conditions.

Copper production increased by 12 percent to 158,000 tonnes despite major planned maintenance at Collahuasi, with strong operational performance as well as higher grades.

Metallurgical coal production increased by 33 percent to 5.3 million tonnes, driven by strong performance at Moranbah and Grosvenor. Thermal coal export production decreased by one percent to 7.2 million tonnes due to challenging geology. Guidance was revised to 28-30 million tonnes.

Platinum and palladium production was broadly unchanged despite Bokoni having been placed on care and maintenance in the third quarter of 2017. Platinum guidance increased to 2.4-2.45 million ounces following strong operational performance.

Anglo American said Kumba iron ore production increased by two percent to 11.6 million tonnes, driven by good performance at Kolomela. Guidance marginally decreased to 43-44 million tonnes to align production to rail availability.

https://www.iol.co.za/business-report/companies/anglo-american-says-total-production-up-6-driven-by-copper-coal-16125525

Last modified on July 20, 2018, 6:41 pm | 92