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Anglo American Q3 2019 Production Report

Mining News - Published on Wed, 23 Oct 2019

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Anglo American plc Production Report for the third quarter ended 30 September 2019. Mr Mark Cutifani, Chief Executive of Anglo American, said “Production is up 4% for the quarter, driven by the continued successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal. De Beers production is lower, as expected, with Victor mine now at the end of its life and the transition of Venetia to underground. We remain broadly on track to deliver within our full year production targets, with an increase in production guidance at Minas-Rio. We expect to deliver to our production guidance for Copper and Thermal Coal, albeit at the lower end of their ranges; with Copper working to mitigate the effect of drought conditions in central Chile.”

Production summary

De Beers’ diamond production decreased by 14% to 7.4 million carats due to planned mine closures and the underground transition at Venetia, and as we continue to produce to weaker market demand due to macro-economic uncertainty as well as continued midstream weakness.

Copper production decreased by 8% to 158,900 tonnes due to unprecedented drought conditions impacting Los Bronces in Chile.

Platinum and palladium production were broadly unchanged at 526,800 ounces and 351,800 ounces respectively.

Kumba’s iron ore production was unchanged at 10.5 million tonnes as increased production at Sishen was offset by lower production at Kolomela due to a plant upgrade.

Minas-Rio’s strong operational performance continued as iron ore production reached 6.1 million tonnes.

Metallurgical coal production increased by 22% to 6.6 million tonnes due to improved wash plant throughput and equipment efficiency, as well as timing of longwall moves

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Posted By : Rabi Wangkhem on Wed, 23 Oct 2019
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