Anglo American Q3 output flat YoY

Mining giant Anglo American reported a slight fall in third-quarter output, as it ramped up its steelmaking coal longwall operations and posted a strong performance at its De Beers diamond unit.

Overall production on a copper equivalent basis fell 1% in the three months to September 30, but were up 16% quarter on quarter.

Rough diamonds production rose by 4% to 9.6 million carats from a year earlier, supported by higher grades in Botswana.

Iron ore production was down 5% to was 16.1 million metric tons. Copper output fell 6% to 147,000 tons due to planned lower grades at all operations in Chile as well as unfavorable ore characteristics at its Los Bronces operation. This was partly offset by first production of copper from the Quellaveco mine in Peru, the company said.

Reporting by Frank Prenesti for Sharecast.com