LONDON (dpa-AFX) - Anglo American (AAUKY.PK, AAL.L), on Thursday, reported that fourth-quarter nickel production increased by 9%, reflecting improved operational stability.
Steelmaking coal production rose by 2%, reflecting steady performance at the Aquila operation and improved performance at Grosvenor, partly offset by ongoing challenging strata conditions at Moranbah.
Meanwhile, copper production decreased by 6%: a 16% decrease in Chile's production was primarily driven by Los Bronces, which more than offset higher production from Quellaveco in Peru.
Production from the company's Platinum Group Metals or PGMs operations was 6% lower, mainly due to the planned ramp-down of operations at Kroondal (now sold) and lower production at Amandelbult due to planned infrastructure closures.
Rough diamond production declined by 3%, largely due to the planned reduction as Venetia transitions to underground operations, partly offset by higher production from Botswana.
Duncan Wanblad, Chief Executive of Anglo American, said: 'Our fourth quarter production was in line with our expectations and in line with the third quarter, despite the deliberate slowdown at Kumba to help draw down stock levels caused by poor third-party rail performance. Our Quellaveco mine in Peru delivered its strongest quarter yet of 93,700 tonnes of copper, while Minas-Rio also delivered its highest ever quarterly volume of 6.6 million tonnes of premium high-grade iron ore. Compared to the same period in 2022, fourth quarter volumes reduced by 7%, primarily due to the planned Kumba reduction and the current unfavourable ore phase at Los Bronces.'
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