Anglo American increased output at two of its three core divisions as the diversified miner ramped up three growth projects to improve the group’s total production. Anglo, focused chiefly on platinum, diamonds and copper, reported a solid first-quarter operating performance when translating all its output to a copper equivalent compared with the matching period a year ago. The standout performance was diamond sales. "A slightly positive set of results with no big misses. Production for the big divisions [iron ore, coal, diamonds and copper] was in line, with no changes to guidance," said investment manager Goldman Sachs. Anglo reported sharply higher first-quarter diamond sales at its 85%-held subsidiary De Beers, along with improved production from all its divisions apart from copper and nickel. "A strong operational performance — enhanced by the continued ramp-up of Gahcho Kué, Minas-Rio and Grosvenor — delivered an 9% increase in production on a copper-equivalent basis," said Ang...
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