By Jaime Llinares Taboada

 

Anglo American PLC on Thursday forecast that its copper production will significantly increase in 2022, as its Quellaveco mine in Peru is expected to achieve first output in the middle of the year.

The FTSE 100 mining company said it expects to produce between 680,000 and 760,000 metric tons of copper in 2022, and Quellaveco is expected to contribute 120,000 to 160,000 tons.

This would be up from 647,000 tons in 2021, which was flat on year and missed previous guidance of 650,000 to 660,000 tons.

In addition, Anglo American forecast that in 2022 it will achieve 30 million to 33 million diamond carats, 4.1 million to 4.5 million platinum group metals ounces, 63 million to 67 million tons of iron ore, 20 million to 22 million tons of metallurgical coal, and 40,000 to 42,000 tons of nickel.

As for 2021, the group Thursday reported that diamonds production rose 29% to 32.3 million carats, with platinum group metals up 13% at 4.3 million ounces, iron ore 3% higher at 63.8 million tons, and manganese ore rising 5% to 3.7 million tons. However, metallurgical coal output fell 11% to 14.9 million tons and nickel slipped 4% to 41,700 tons, it said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

January 27, 2022 02:37 ET (07:37 GMT)

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