Kitco News - Anglo American reported on Thursday that 2023 production was 2% higher than prior year, due to a 24% increase in copper volumes primarily from Quellaveco, a strong performance from Minas-Rio and a steady increase from the steelmaking coal operations.
The company released its Q4 2023 production report yesterday.
Diamond production fell, dropping 8% from the year prior. Platinum group metal output was also down 6%.
The company maintained guidance.
The company also said that the current commodity market dictates lower expenses.
“Looking ahead, our deliberate prioritisation of value over volume is designed to improve margins and returns. We are committed to safely delivering a consistent production performance in a streamlined and more effective organisation with significantly lower costs and capital requirements and that is more resilient through the cycle," said Duncan Wanblad, Chief Executive of Anglo American.
