Two of three divisions Anglo intends keeping report reduced output
Two of the three divisions Anglo American intends keeping in its portfolio reported reduced output in the year to date, with just platinum showing a marginal increase while diamonds and copper have both declined. Anglo American embarked on an asset disposal programme targeting its bulk commodity mines in iron ore, coal and nickel as a way to cut its debt. In the latest production update for the September quarter and which include numbers for the year to date, Anglo showed a 2% increase in platinum production to 1.77-million oz, while diamonds dropped 9% to 19.6-million carats and copper fell 6% to 430,500 tonnes. Looking ahead to the balance of the year and full annual production guidances, Anglo said its diamond output was unchanged at between 26-million and 28-million carats, platinum would come in between 2.3-million and 2.4-million oz while copper was forecast to remain at between 570,000 and 600,000 tonnes. Anglo CEO Mark Cutifani singled out the strong performance at the Kumba...
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