Anglo American has reported stable production results for the September quarter, driven by strong operational performance across its key assets including its Minas-Rio iron ore operation in Brazil.
Chief executive officer Duncan Wanblad said the company continues to meet production expectations due to its “consistent focus on operational excellence”.
“Our Minas-Rio iron ore operation in Brazil achieved a second successive record quarter while the reshaping of our copper operations continues to progress with the older of the two Los Bronces plants placed on care and maintenance,” Wanblad said.
“Ongoing stability at the PGM processing assets allows us to increase full year refined PGM (platinum group metals) production guidance to 3.7–3.9 million ounces, and strong operational performance at nickel increases production guidance to 38,000-39,000 tonnes.”
Anglo American revised its full-year production guidance for both PGMs and nickel.
Key production highlights included a six per cent increase in nickel production, a two per cent rise in iron ore production, and a 13 per cent decrease in copper production, which was expected due to the Los Bronces plant closure.
Wanblad confirmed that Anglo American’s portfolio simplification remains on track.
“Our accelerated portfolio simplification to unlock the inherent value in Anglo American is well under way,” he said
“The PGMs demerger is on track to complete by the middle of 2025, our steelmaking coal sale process continues to see significant competition for this world-class set of assets, with a final round of bidders in place, and we expect to announce execution of a sale agreement in the coming months.
“We are also encouraged by recent imagery that shows that the fire damage in the underground area of the Grosvenor mine appears limited, further supporting the sale process.”
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