Anglo American Posted 24% Surge in Q3 Mine Production

Anglo American reduced the 2020 production guidance to 630,000-660,000 tonnes, due to Covid-19 related disruptions.

SEATTLE (Scrap Monster): Anglo American mine production surged higher by 24% in Q3 this year, compared with the prior quarter. The Q3 jump in production signals continued recovery of operations from early impacts of Covid-19 pandemic. The company’s mines were reportedly operating at 95% of capacity during the quarter, the recent company press release said.

The copper production was up by 4% to 165,700 tonnes, backed by continued robust performance at Anglo’s Collahuasi copper mine in Chile, which increased its production by 17%. This helped to keep the overall decline in year on-year production to 3%. The production from Los Bronces recorded decline by 1% to total 79,400 tonnes. Meantime, the production from El Soldado totalled 10,800 tonnes, down by 23% from the previous year quarter.

Anglo American reduced the 2020 production guidance to 630,000-660,000 tonnes, due to Covid-19 related disruptions.

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The Anglo American platinum output decreased by 2% to 516,500 ounces, whereas the palladium production remained flat at 352,200 ounces. The diamond production through De Beers recorded 4% decline from Q3 last year.

The company’s iron ore output in South Africa and Brazil declined by 9% and 18% respectively.