LONDON (dpa-AFX) - London-headquartered mining business Anglo American plc (AAL) on Thursday said its production in the third quarter ended 30 September 2022 was broadly flat compared to the same period in 2021. The same was attributed to higher production from Quellaveco, Steelmaking Coal and De Beers which was offset primarily by expected lower copper ore grades in Chile and some operational challenges at the Kumba iron ore business.
Rough diamond production increased by 4 percent to 9.6 million carats, primarily due to the treatment of higher-grade ore at both Orapa (Botswana) and in South Africa and continued strong performance in Namibia.
Steelmaking coal production increased by 28 percent 5.5 million tonnes, reflecting the ongoing ramp-up of the longwall operations. Production for 2022 is expected to be towards the lower end of the guidance range of 15-17 million tonnes.
Copper production decreased by 6 percent to 147,000 tonnes, primarily due to a decrease of 19 percent in Chile, partly offset by the first production of copper in concentrate from Quellaveco in Peru. Production guidance for 2022 is unchanged at 640,000-680,000 tonnes.
Metal in concentrate production from the Platinum Group Metals operations decreased by 6 percent.
Iron ore production decreased by 5 percent to 16.1 million tonnes, due to an 8 percent decrease at Kumba, while production at Minas Rio was flat.
Nickel production decreased by 4 percent to 10,000 tonnes, primarily due to planned lower ore grades, partly offset by the deferral of planned annual maintenance to the fourth quarter of 2022. Production for 2022 is expected to be towards the lower end of the guidance range of 40,000-42,000 tonnes. Unit cost guidance for 2022 is unchanged at c.495c/lb.
Shares of Anglo-American closed Wednesday's trading at 2772.5 pence, up 114 pence or 4.29 percent from the previous close.
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