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Anglo shows strength through copper

Anglo American has reported a 1% increase in total production on a copper equivalent basis in Q3 2018, compared to the same period of 2017, excluding the Minas-Rio stoppage.

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Copper production of 485,000t for the year to date (Q1-Q3) was 13% higher than a year earlier, while copper production in Q3 increased by 17% to 171,800t, reflecting what Anglo described as continued strong operational performance across all operations and planned higher grades.

 

“Our focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes 1% higher than the solid operational performance seen in Q3 2017,” commented Mark Cutifani, CEO of Anglo American.

 

“Production per employee has increased by 5% in 2018, compared to 2017, as we maintain relentless discipline on controllable costs,” he continued. “Strong operational performance at our copper assets delivered a 17% increase in production, more than offsetting planned lower volumes at De Beers and the impact of rail infrastructure constraints at Kumba in the first half of the year.”

Anglo American production for the third quarter of 2018
Anglo American production for the third quarter of 2018

In its Production Report for the third quarter ended 30 September 2018, it the miner also highlighted:

  • De Beers production decreased by 5% to 8.7M carats due to expected lower grades at Jwaneng and lower volumes at Venetia, due to a shutdown to upgrade its processing plant ahead of its transition from open cut to underground operations.
  • Platinum and palladium production increased by 4% to 649,000 ounces and 1% to 411,000 ounces, respectively, driven by an improved performance at Amandelbult and joint-venture operations.
  • Kumba’s iron ore production decreased by 9% to 10.5 Mt, as planned, to offset elevated stock levels arising from Transnet rail constraints in H1 2018.
  • Metallurgical coal production decreased by 3% to 5.4 Mt, with the timing of longwall moves.
  • Thermal coal export production increased by 13% to 7.7 Mt reflecting solid operational improvements at our coal assets.
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