LONDON (dpa-AFX) - Anglo American plc (AAUKY.PK, AAL.L), on Thursday, reported that production is up 2% compared to Q3 of last year, with its operating levels generally maintained at about 95% of normal capacity.
The company noted that the increase in production is led by planned higher rough diamond production at De Beers, increased production from its Minas-Rio iron ore operation in Brazil, reflecting the planned pipeline maintenance in Q3 2020, and improved plant performance at its Kumba iron ore operations in South Africa.
Mark Cutifani, Chief Executive of Anglo American, said, '...We are broadly on track to deliver our full year production guidance across all products, while taking the opportunity to tighten up the guidance for diamonds, copper and iron ore within our current range as we approach the end of the year...'
Rough diamond production rose by 28%, principally from the Jwaneng and Venetia mines, reflecting planned higher production in response to the ongoing consumer demand recovery led by the key US and China markets.
However, Copper production decreased by 6% due to planned maintenance at Collahuasi, while total year to date production across all copper operations increased marginally by 1% despite ongoing water availability constraints caused by record drought conditions in Chile.
Looking ahead, the company tightened its full-year copper production guidance to 650,000-660,000 tonnes, due to plant performance challenges at Los Bronces, subject to water availability and the extent of any Covid-19 related disruption. Previously, the company expected production to be in the range of 650,000-680,000 tonnes.
Copyright RTT News/dpa-AFX