Anglo American Says Production Recovered to 95% of 2019 Levels in 2nd Half
January 28 2021 - 2:49AM
Dow Jones News
By Jaime Llinares Taboada
Anglo American PLC said Thursday that its production recovered
to 95% of 2019 rates in the second half of 2020, and cut its
diamond-output forecast for 2021.
The FTSE 100 mining company reported full-year output drops
across most of the commodities it produces, as the coronavirus
pandemic disrupted operations and hurt demand.
Diamond production decreased 18% to 25.1 million carats. Copper
rose 1% to 647,000 metric tons as the Los Broncos mine in Chile
secured access to industrial water. Platinum group metals output
fell 14% to 3.8 million ounces.
Iron ore declined 7% to 61.1 million tons despite production
increases in Brazil. Metallurgical coal plunged 26% to 16.8 million
tons, and thermal coal declined 22% to 20.6 million tons.
As for 2021, Anglo American cut its diamond-production forecast
to 32 million-34 million carats, from the previous 33 million-35
million carats projection.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
January 28, 2021 02:34 ET (07:34 GMT)
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