off-the-wire

Anglo American posts 9% drop in copper output in first nine months

Kitco Media
By Reuters
Published:
Updated:
Reuters
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Global miner Anglo American on Tuesday posted a 9% drop in copper production in the first nine months of the year but maintained its 2025 guidance for the transition metal, and raised its outlook for iron ore output.

Anglo said its copper output stood at 183,500 metric tons in the July to September quarter, compared to 181,000 tons in the same period of 2024, but fell to 526,000 tons in the first nine months from 575,000 in 2024.

The London-listed miner in September announced a plan to merge with Canada’s Teck Resources, hoping to forge a new global copper-focused heavyweight.

The deal came as Anglo was in the middle of restructuring its business after fending off a $49 billion takeover offer from bigger rival BHP Group in 2024.

Anglo still expects to produce 690,000-750,000 tons of copper and raised its iron numbers to 58-62 million tons from 57-61 million previously, after a pipeline inspection at its Minas-Rio operation in Brazil completed ahead of schedule.

(By Clara Denina; Editing by Kirsten Donovan)

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