(Kitco News) - Anglo American reported Thursday that its Q3 2022 copper production decreased by 6% y-o-y to 147 kt, primarily due to planned lower grades at all its operations in Chile, as well as unfavorable ore characteristics at Los Bronces.
The company's rough diamond production increased by 4% to 9.6 Mct, principally reflecting the treatment of higher grade ore at Orapa (Botswana) as well as continued strong performance in Namibia.
Metal in concentrate production from the company's platinum group metals operations decreased by 6% to 1,046 koz, due to the impact of Eskom load-shedding (power outages) primarily in September, infrastructure closures at Amandelbult and lower grade at Mogalakwena.
The company's iron ore production decreased by 5% to 16.1 Mt primarily due to Kumba, which was impacted by the slow ramp-up after the safety intervention in the second quarter and Eskom load-shedding, primarily in September.
Anglo American also reported that its nickel production decreased by 4% to 10 kt, primarily due to lower grades, while steelmaking coal production increased by 28% to 5.5 Mt, reflecting the ongoing ramp-up of the longwall operations.
CEO Duncan Wanblad commented, "As we move through the final quarter, we are focused on maintaining operational momentum to deliver our full year guidance. The continued safe ramp-up of our steelmaking coal operations, as well as further performance improvements at our iron ore businesses, are priorities to set the platform for delivery into next year. We do continue to feel the effects of dislocations in the global economy on our business - in energy and across supply chains and labor markets - and are planning accordingly for 2023, confident in the strategic position of our business."
Anglo American is a leading global mining company which producing diamonds (through De Beers), copper, platinum group metals, the steelmaking ingredients of iron ore and metallurgical coal, and nickel - with crop nutrients in development and thermal coal operations planned for divestment.
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