Anglo American lowers production guidance after Q1 output falls 10%

Anglo American

2,369.50p

17:15 07/01/25

-0.96%

-23.00p

Anglo American lowered annual production guidance after a 10% fall in first-quarter output, reflecting Covid-related staff shortages, high rainfall in South Africa and Brazil, and issues at its metallurgical coal and iron ore operations.

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Mining

10,480.11

17:14 07/01/25

0.51%

52.78

The company on Thursday forecast platinum group metals (PGM) production to 3.9 million - 4.3 million ounces from 4.1m-4.5m.

Iron ore production was revised downwards to 60 million - 64 million tonnes from 63m-67m. First quarter output fell 19% as rainfall and plant issues affected operations in South Africa and Brazil.

Full year cost guidance was lifted 9%, reflecting a 4% impact from stronger producer currencies and 3% from inflationary pressures, particularly diesel, as well as revisions to volume guidance.