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Anglo American lowers copper prod'n outlook on lower grades

Michael McCrae

Kitco News

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(Kitco News) - Anglo American said today it expects to produce less copper than forecast due to lower grades.

The South African miner released a production update today.

Copper output in 2023 is now 840-930kt instead of 910-1,020kt. The company said that copper production in 2023 and 2024 is "...impacted by lower grades across all operations, as well as an increase in ore hardness at Los Bronces, impacting throughput."

The company added that "...lower planned grades at Collahuasi impacted production in 2025. Chile production guidance is subject to water availability."

Anglo American is a diversified miner producing diamonds, copper, nickel, platinum group metals, iron ore, steelmaking coal and crop nutrients.

This year's overall production is expected to be 3% lower compared to the year prior.

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By Michael McCrae

For Kitco News

Contact mmccrae@kitco.com
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