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Anglo’s second-quarter production up 11%

20th July 2023

By: Martin Creamer

Creamer Media Editor

     

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JOHANNESBURG (miningweekly.com) – Diversified mining company Anglo American lifted second-quarter production by 11% compared with the second quarter in 2022, reflecting the ramp-up of its new Quellaveco copper mine in Peru, which has now reached commercial production levels.

A strong performance was also delivered at the London- and Johannesburg-listed company’s Minas-Rio iron-ore operation in Brazil, as well as higher production from its opencast steelmaking coal operations in Australia.

These were offset by temporary lower production from De Beers' Venetia diamond mine in Limpopo, as it transitions from openpit to underground, as well as the impact of lower copper throughput and grades in Chile.

In the six months to June 30, Johannesburg-listed Kumba Iron Ore reported a 6% iron-ore production rise underpinned by Kolomela’s recovery and improved productivity at both operations.

However, multiple disruptions including derailments and cable theft on the Transnet rail line, resulted in iron-ore railed to Saldanha Bay port decreasing by 3% at June 30. With lower finished stock levels at the port, sales decreased by 4%.

Meanwhile, the second-quarter production of platinum group metals (PGMs) subsidiary Anglo American Platinum was 9% lower on short-term operational challenges and infrastructure closures at the Amandelbult mine as well as expected lower grades at the Mogalakwena mine.

Lower refined production of 1 073 800 oz PGM ounces was the result of a planned asset integrity programme at the Johannesburg-listed company’s processing operations.

Edited by Creamer Media Reporter

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