Anglo American On Track to Surpass Full-Year 2022 Guidance

SEATTLE (Scrap Monster): AngloAmerican published production report for the third quarter of the year ended 30 September, 2022.

The quarterly copper production registered a decline by 6% over the prior year quarter, mainly due to planned lower grades at its Chile operations and unfavourable ore characteristics at Los Bronces, which were partly offset by increased output from Quellaveco in Peru.

The slow ramp-up after the safety intervention coupled with Eskom load-shedding impacted iron ore production from Kumba. The overall production of the steelmaking raw material recorded a decline by 5%. The production at Minas-Rio mine remained flat during the quarter, the report said.

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The steelmaking coal production surged higher by 28%, while nickel production was down by 4% during the quarter. AngloAmerican reported 4% surge in rough diamond production, primarily driven by higher grade ore at Orapa, Botswana and robust performance at Namibian mines.

Duncan Wanblad, Chief Executive of Anglo American noted that the performance stepped up 16% q-o-q amid challenging environment. It expects to maintain the operational momentum in Q4 this year, so as to be able to meet its full-year 2022 guidance, he added.