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Anglo American Q4 Copper Equivalent Production Rises; Maintains FY20 View

Anglo American plc (AAUKY.PK,AAL.L) reported Thursday that its fourth-quarter copper equivalent production increased 4 percent led by the continued successful ramp-up at Minas-Rio in Brazil.

Excluding the impact of Minas-Rio, Group copper equivalent production was down 1 percent in the quarter.

Copper production decreased 13 percent to 158,800 tonnes from last year's 184,000 tonnes, largely impacted by a reduction at Los Bronces, driven by the continued drought conditions in central Chile.

De Beers Group rough diamond production decreased 15 percent to 7.8 million carats, driven by lower production levels in South Africa and Botswana. Production in Botswana decreased by 7 percent to 5.9 million carats.

Platinum and palladium production both increased by 10 percent, to 531,700 ounces and 360,400 ounces, respectively.

Looking ahead for fiscal 2020, the company said its rough diamond production guidance is unchanged at 32-34 million carats.

Copper production guidance for 2020 is unchanged at 620,000-670,000 tonnes, subject to water availability.

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