Anglo American Q2 total production up 6%

Anglo American on Thursday reported a 6% year on year rise in total second quarter output on a copper equivalent basis, excluding disruption after a leak at its Brazilian Minas-Rio iron ore project.

Chief executive Mark Cutifani said the increase was driven by coking coal and copper.

Coking coal production increased by 33% to 5.3m tonnes driven by strong performance at Moranbah and Grosvenor, while thermal coal export production fell by 1% to 7.m tonnes due to “challenging geology” and guidance revised to 28-30m tonnes.

The mining giant said De Beers diamond production increased by 3% to 9m carats reflecting sustained healthy trading conditions.

Copper production increased by 12% to 158,000 tonnes despite major planned maintenance at the Collahuasi mine in Chile, with strong operational performance as well as higher grades.

Platinum and palladium production was broadly unchanged despite the Bokoni mine in South Africa having been placed on care and maintenance in the third quarter of 2017.

Platinum guidance was increased to 2.4-2.45m ounces after a strong operational performance, Anglo said.

Kumba iron ore production increased by 2% to 11.6m tonnes, driven by good performance at the Kolomela operation in South Africa.

Guidance was marginally decreased to 43-44m tonnes to align production to rail availability.