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Anglo American’s new projects in diamonds, iron ore and coal underpin a sound set of production data for the first half of its financial year, setting up the diversified miner to meet or exceed some full-year targets.
Anglo, which has narrowed its portfolio to diamonds, platinum and copper, with bulk minerals like iron ore, coal and nickel making up the fourth leg of its business, will release interim results next Thursday.
In a production update, the miner said it had lifted output at all its divisions apart from copper and nickel, which had small declines for the six months to end June. "Through the improvements we have made to our portfolio and the efficiencies we are driving, we continue to unlock the potential of our world-class assets," said Anglo CEO Mark Cutifani.
Output was increasing at the Gahcho Kue mine in Canada, the Minas Rio iron ore mine in Brazil and the Grosvenor coal mine in Australia.
"Production from Kumba and diamonds exceeded our expectations, while metallurg...
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