LONDON (dpa-AFX) - Anglo American Plc (AAUKY.PK, AAL.L), a British mining company, on Tuesday registered a rise in copper production for the first-quarter, mainly after Quellaveco mine in Peru achieved its highest plant throughput rate, whereas Collahuasi and El Soldado in Chile benefitted from higher grades.
For the three-month period, the company reported copper production of 198kt, higher than 178kt, recorded for the same period last year. Nickel output dropped to 9.5kt from last year's 9.7kt.
Production of Platinum group metals stood at 834koz, lesser than 901koz in 2023. This reflects expected lower volumes from Kroondal and lower production at Amandelbult.
Diamonds production was at 6.9Mct, higher than previous year's 8.9 Mct, primarily due to changes implemented to lower production in response to market inventory levels.
Iron ore output remained flat at 15.1Mt from last year's 15.1Mt, with a strong performance from Minas-Rio, up 4 percent, offset by a planned decline at Kumba to align with third-party logistics constraints.
Steelmaking coal production increased to 3.8Mt from 3.5Mt a year ago, driven by the Aquila and Capcoal operations, partially offset by the Dawson open cut operation and ongoing challenges with the strata conditions at Moranbah.
Manganese ore output stood at 784kt as against 841kt a year ago.
Looking ahead, for the full year, the miner expects copper production of 730kt to 790 kt.
Platinum Group Metals output is seen at 3.3Moz to 3.7 Moz.
The company projects to produce Iron Ore of 58Mt to 62 Mt.
Steelmaking Coal production is expected to be in the range of 15Mt to 17Mt.
The firm expects Nickel output of 36Kt to 38Kt.
Looking forward, Anglo American revised down its guidance for diamonds output to 26Mct to 29Mct from previous expectation of 29Mct to 32Mct. This is due to the higher than average levels of inventory in the market and the expected gradual recovery in rough diamonds through the rest of the year.
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