Anglo American Q1 outrput falls 6%

FTSE 100 miner Anglo American reported a 6% fall in first quarter output after production issues at the Venetia diamond mine and Kumba iron ore and platinum group metals.

Copper output rose 4% to 161,000 tonnes due to strong plant performance and planned higher grades after a 61% ramp up at the Brazilian Minas-Rio operation, which resumed production in December after a dam breach that killed 84 people.

De Beers' diamond production decreased by 8% to 7.9m carats driven by lower production at Venetia as it transitions from open pit to underground.

Kumba's iron ore production fell by 12% to 9.5m tonnes due to plant maintenance.

“By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged,” said chief executive Mark Cutifani.