Anglo American Q2 Total Production Up 6% – Quick Facts

Anglo American plc (AAUKY.PK,AAL.L) reported a 6 percent increase in total production on a copper equivalent basis in the second quarter of 2018, compared to the year-ago period and excluding the Manas-Rio stoppage.

Copper production for the quarter ended 30 June 2018 rose 12 percent from last year to 158,000 tonnes, despite major planned maintenance at Collahuasi, with strong operational performance as well as higher grades.

Metallurgical coal production grew 33 percent from last year to 5.3 million tonnes.
De Beers production increased by 3 percent from the year-ago period to 9.0 million carats, reflecting sustained healthy trading conditions.

However, platinum and palladium production in the quarter was broadly unchanged from last year, despite Bokoni having been placed on care and maintenance in the third quarter of 2017.

Looking ahead, Anglo American maintained its full-year copper production guidance in a range of 630,000 to 660,000 tonnes and metallurgical coal at 20 million to 22 million tonnes.

The company raised its full-year platinum production guidance to a range of 2.4 million to 2.45 million ounces, from the prior range of 2.3 million to 2.4 million ounces, due to strong operational performance.

The company’s full year palladium production outlook remains unchanged at 1.5 million to 1.6 million ounces.

by RTTNews Staff Writer

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