Anglo American reports higher Q4 production of iron ore, copper

LONDON (Scrap Monster): Anglo American Plc, one of the largest mining companies in the world has reported increased production of iron ore, metallurgical coal, copper, nickel, platinum in 4^th Quarter ended 2011 December, although diamond production declined.

The company would release the full year finacial results upto December 31, 2011 in February. The company is listed in London and Johannesburg exchanges.

Highlights of  Q4 production report:
- Iron ore production increased by 5% to 12.4 million tonnes mainly due to initial production from Kolomela mine and a continued improvement in performance at Amapá

 - 9 Mtpa Kolomela mine commissioned five months ahead of schedule, with firstshipment from Saldanha port in December 2011

- Production ramp up schedule for Kolomela mine of 4-5 million tonnes in 2012.

- Metallurgical Coal delivered record production from its Australian open cut metallurgical coal  operations, resulting in a 4% increase in metallurgical coal production to 4.1 million tonnes

- Export thermal coal production from South Africa and Colombia increased by 5% to 8.6 million

tonnes

- Copper production increased by 10% to 170,000 tonnes, and by 22% compared to Q3 2011, due to the commissioning of the Los Bronces expansion and higher ore grades at Los Bronces, Collahuasi and El Soldado 

-Nickel

(1)  production increased by 125% to 9,900 tonnes, and by 52% compared to Q3 2011, as production from Barro Alto continued to ramp up

- Platinum refined production decreased by 19% to 710,000 ounces, mainly due to a greater number of safety stoppages resulting in lower mine  production and increased processing of lower grade surface stockpiles. Equivalent refined  platinum production declined by 9% to 583,200 ounces, due to a higher number of safety stoppages. This was offset by a strong performance at Mogalakwena’s North pit and full ramp up at Unki mine.

-Diamond production decreased by 24% to 6.5 million carats. This reduction mainly reflects De  Beers’ deliberate focus on increasing waste stripping, as well as scheduled maintenance