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Anglo American reports production results for 3Q17

Published by
Global Mining Review,

Anglo American reports a 6% increase in total production on a copper equivalent basis in 3Q17, compared to the same period of 2016. For the first nine months of the year, copper equivalent production has increased by 8%.

Mark Cutifani, Anglo American Chief Executive, said: “We have delivered another strong production performance across our business. Grosvenor production has materially stepped-up as the new operating procedures have been implemented, while Gahcho Kué and Minas-Rio continue to make positive contributions. We have further increased production guidance at Kumba Iron Ore as we continue to improve our broader productivity performance. In Platinum, we have taken necessary steps to remove unprofitable ounces from production as we focus on value over volume.”

At De Beers, stable trading conditions supported an increase in rough diamond production (46% increase to 9.2 million carats), driven principally by Debswana, and the ramp-up of Gahcho Kué in Canada.

Anglo’s copper production increased by 5% to 147 300 t, reflecting strong mine extraction and higher associated grades.

The company’s production guidance for platinum has been lowered to 2.30 – 2.35 million oz following the closure of unprofitable production at Bokoni, which was placed on care and maintenance in the quarter.

Production guidance at Kumba Iron Ore has been further increased to 42 – 44 million t following the continuation of strong productivity performance at Sishen.

Metallurgical coal production increased by 8% as Grosvenor delivered strong production through successful management of geological challenges and completion of its first longwall panel. But thermal coal production decreased by 15% due to operating challenges at Khwezela, a 100-hour safety stoppage across all the South African coal operations in August and weather related stoppages at Cerrejón.

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