Anglo American Posted Notable Surge in Copper Production

SEATTLE (Scrap Monster): Anglo American announced production report for the first quarter of the year ended 31^st March, 2024.

According to company press release, the quarterly copper production recorded a surge by 11% in Q1 2024, mainly driven by the higher throughput at Quellaveco along with higher grades and throughput at Collahuasi and El Soldado. The Q1 2024 output totalled 198 kt, compared with 178 kt in the corresponding quarter a year before.

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The steelmaking and coal production recorded an increase by 7% driven by the Aquila and Capcoal operations. The iron ore production remained flat during the quarter. Minas-Rio reported strong performance. The nickel production remained broadly unchanged, registering marginal decline by 2% from 9.7 kt to 9.5 kt.

The production from its Platinum Group Metals (PGMs) operations stood lower by 7%, driven by lower volumes from Kroondal and lower production at Amandelbult. The rough diamond production registered decline by 23%.

Duncan Wanblad, Chief Executive of Anglo American noted that the company is pleased with its first quarter performance. The company targets to drive operational excellence across its assets and improve overall quality of the portfolio, with special focus on stability and effective cost management, he added.