Platinum stands out as Anglo lowers output targets for several minerals
Globally diversified miner Anglo American, lowered its full-year production forecasts for a number of its minerals, with the exception of platinum, which it nudged up thanks to an improved operational performance. Looking at the London-based group’s second-quarter production specifically, CEO Mark Cutifani noted there’d been a strong performance in its copper and metallurgical coal units. "This reflects our consistent and relentless focus on driving efficiency and productivity from our existing world-class asset base," he said.
Looking ahead for the full year, however, the outlook was mixed, with production targets lowered for iron ore from Kumba Iron Ore because of rail constraints, and for export thermal coal from SA and Colombia. Offsetting the downward revisions was the expectation of higher output from Anglo American Platinum, the world’s biggest producer of platinum. Amplats said it would increase its platinum production to between 2.4-million and 2.45-million ounces for...
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