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Anglo American Says Production Down 3% In 2022

Anglo American (AAL), a global mining company on Friday said that in 2022, production was down approximately 3 percent whereas unit costs increased by approximately 16 percent.

Capital expenditure was lower at approximately $5.7 billion due to supply chain disruptions, people availability and FX.

In 2023, production is expected to increase by 5% while unit costs are expected to increase by approximately 3 percent. Capital expenditure is forecasted between $6.0 and $6.5 billion.

In 2024, production is expected to increase by 5% led by copper, iron ore and steelmaking coal while Capex is forecast between $5.5 - 6.0 billion.

In 2025, production is expected to be in line with 2024 while the capex forecast is between $5.0 - 5.5 billion.

Shares of Anglo American closed Thursday's trading at 3299.50 pence, up 29.50 pence or 0.90 percent from the previous close.

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