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Anglo American Q3 Copper Production Up 4%

Anglo American plc (AAUKY.PK,AAL.L) reported that its third-quarter copper production increased by 4% to 165,700 tonnes, driven by strong plant performance at Collahuasi.

Copper production annual guidance has been tightened to 630,000-660,000 tonnes from the prior outlook of 620,000-670,000 tonnes.

Platinum production decreased by 2% to 516,500 ounces and palladium production was flat at 352,200 ounces.

De Beers' diamond production decreased by 4% to 7.2 million carats driven by planned reductions in production to reflect the lower demand for rough diamonds due to the Covid-19 pandemic.

Diamond production annual guidance is unchanged at 25-27 million carats (100% basis).

Kumba's iron ore production for the third-quarter decreased by 9% to 9.5 million tonnes with Sishen's production 9% lower at 6.5 million tonnes and Kolomela's 10% lower at 3.0 million tonnes.

Iron ore sales volumes for the quarter increased by 7% to 10.9 million tonnes driven by a 13% increase in export sales as Transnet's performance returned to pre-Covid-19 levels, with a significant improvement in loading rates at the port.

Kumba iron ore production guidance for 2020 is unchanged at 37-39 million tonnes. Minas-Rio production guidance is unchanged at 22-24 million tonnes.

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