Anglo American 2Q Production Fell 9% on Lower Copper, Iron Ore, Coal Volumes -- Commodity Comment
21 Julho 2022 - 4:29AM
Dow Jones News
By Jaime Llinares Taboada
Anglo American PLC on Thursday reported weaker production for
the second quarter, reflecting expected issues in copper
production, planned maintenance at the Minas-Rio iron ore operation
in Brazil, and the ramp-up of its Aquila coal mine in Australia.
Here's what the multinational mining company had to say:
"Full year production guidance is unchanged for PGMs, copper and
iron ore, increased for diamonds and decreased for steelmaking coal
due to longwall ramp-up timing."
"Overall for the second quarter, production was 9% lower
compared with the same quarter in 2021, primarily due to expected
lower grades and water availability in Copper, ramp-up of the
Aquila longwall in steelmaking coal and planned maintenance at the
Minas-Rio iron ore operation."
"Rough diamond production decreased by 4%, reflecting lower
grades in Canada and Botswana. Production guidance is increased to
32-34 million carats (previously 30-33 million carats) due to
robust demand and strong year-to-date operational performance."
"Metal in concentrate production from our Platinum Group Metals
(PGMs) operations was broadly flat, with strong performances at
Unki and Mototolo offsetting planned lower grades at Mogalakwena.
Unit cost guidance is reduced to c.$950/PGM ounce (previously
c.$970/PGM ounce), reflecting the weaker South African rand."
"Copper production decreased by 21% due to planned lower grades
and water availability."
"Iron ore production decreased by 8% after a safety intervention
at Kumba's Kolomela mine, as well as planned maintenance at
Minas-Rio."
"Steelmaking coal production decreased by 12% as the replacement
Aquila longwall ramped up following the planned end of production
from Grasstree, as well as high rainfall impacting the open pit
operations. Full year guidance is revised to 15-17 million tonnes
(previously 17-19 million tonnes) and unit cost revised to
c.$110/tonne (previously c.$105/tonne)."
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 21, 2022 03:14 ET (07:14 GMT)
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