Copper production was two per cent higher than the first half of 2023 at Anglo American, with operations in Chile and Peru both performing well.
“We have delivered a strong second quarter performance overall as we continue to embed operational excellence across the asset base,” Anglo American chief executive Duncan Wanblad said.
“Minas-Rio achieved record second quarter production, while our copper operations in Chile and Peru both performed well against our plans.
“We are focused on continuing to deliver our strategic priority of operational excellence – improving performance stability is driving increased confidence in operational plans, including production volumes and unit costs.”
Steelmaking coal production also increased, up 26 per cent due to higher production from the Grosvenor underground mine and the Dawson open cut operation. However, the underground fire at Grosvenor is expected to hinder output.
“At the end of June, the Grosvenor mine experienced an underground fire and the workforce was safely evacuated without injury,” Wanblad said.
“As a result of the incident, the operation is suspended and Grosvenor’s production is excluded from the steelmaking coal guidance for the second half of the year.”
Rough diamond production decreased by 15 per cent, driven by a proactive approach to manage inventory and preserve cash. Production from Anglo’s platinum group metals operations was also lower, down two per cent.
“In May, we announced our plan to accelerate our strategy by simplifying the portfolio and focusing on our world-class assets in copper, premium iron ore and crop nutrients,” Wanblad said.
“We are working at pace to execute on the asset divestments, including steelmaking coal – with the intention of optimising value for our shareholders, while minimising frictional costs, mitigating execution risks, and enabling the delivery of significant sustainable cost savings.”
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