Anglo American targets growth in star copper unit
The globally diversified mining company’s production data came in largely as expected and within the guidance it provided
Anglo American has stepped up spending on assessing going underground at its Los Bronces copper mine in Chile as it continued to post solid annual operating results. Anglo American and its listed subsidiaries, Anglo American Platinum and Kumba Iron Ore, released fourth-quarter and full-year production data for 2018 as well as received commodity prices, coming in largely as expected by the market and within guidance provided by the globally diversified mining company. “While iron ore was a miss, all other divisions surprised to the upside, with the big beats being at the coal division [both thermal (SA) and met coal], diamonds and copper,” said Goldman Sachs analysts in a note.
Another analyst flagged concerns about the prices Anglo achieved for its copper, iron ore from Kumba and metallurgical coal from Australia. “The lower realised pricing will likely temper some of the positives from the better production,” said RBC Capital Markets analyst Tyler Broda. “However, our key tak...