Anglo American 4Q Copper Production Rises 6%, PGMs Fall 9% -- Commodity Comment
January 28 2021 - 6:29AM
Dow Jones News
By Ian Walker
Anglo American PLC reported fourth quarter production and
provided guidance for the year ahead, maintaining projections for
copper, platinum and iron-ore production but lowering its range for
diamond output.
On 4Q copper production:
"Copper production increased by 6% to 167,800 tones, largely due
to secured access to industrial water at Los Bronces, partially
offset by planned plant maintenance at Collahuasi."
On 2021 copper production guidance:
"Production guidance is unchanged at 640,000-680,000 tones,
subject to the extent of further Covid-19 related disruption."
On 4Q platinum group metals production:
"Own mined production decreased by 9% to 716,900 ounces, with
ongoing safety controls and restrictions in place to help protect
employees from Covid-19."
On 2021 platinum group metals production guidance:
"Production guidance (metal in concentrate) is unchanged at
4.2-4.6 million ounces. Refined production guidance is also
unchanged at 4.6-5.0 million ounces. Both are subject to the extent
of further Covid-19 related disruption."
On 4Q iron ore production:
"Iron ore production at Minas-Rio in Brazil increased by 5% to a
record 6.5 million tones for the quarter."
On 2021 iron ore guidance:
"Iron ore production guidance is unchanged at 64-67 million
tones (Kumba 40-41 million tones; Minas-Rio 24-26 million tones),
subject to the extent of further Covid-19 related disruption."
On 4Q rough diamond production:
"Rough diamond production decreased by 14% to 6.7 million
carats, driven by continued planned reductions in response to the
lower demand for rough diamonds caused by the Covid-19 pandemic and
operational challenges at Orapa that led to lower than expected
production."
On 2021 rough diamond production guidance:
"Production guidance is revised to 32-34 million carats
(previously 33-35 million carats) (100% basis), subject to trading
conditions, due to ongoing operational challenges and lower
expected production from the final cut at Venetia."
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 28, 2021 06:14 ET (11:14 GMT)
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