Anglo American is on track to meet its 2026 production guidance

Duncan Wanblad, CEO of Anglo American, said: “Operational performance was resilient across the business, continuing our momentum from the first half of the year despite extreme winter weather in Chile. We are on track to meet our 2026 guidance, supported by the planned improvement in copper ore grades in the fourth quarter. In Copper, Quellaveco production increased from the second quarter, benefiting from the expected improvement in the ore grades, while record snowfall and related unplanned maintenance later in the third quarter affected production in Chile. In Premium Iron Ore, Minas-Rio benefited from higher plant availability, while Kumba’s tie-in of its first ultra-high-dense-media-separation (UHDMS) module reduced production as planned, albeit with sales largely unaffected as stockpiles were drawn down. We continue to manage controllable costs tightly, particularly in the context of pressures from energy input cost volatility and higher ocean freight rates impacting spot iron ore price realisations. However, strong by-product credits and cost performance see Copper Peru unit cost guidance improved to c.50 c/lb (previously c.65 c/lb).

“We continue to make progress on our portfolio optimisation. The sale of our Steelmaking Coal business in Australia to Dhilmar for up to $3.875 billion in cash is on track to complete by the first quarter of 2027, while we continue to work through the European Commission’s regulatory approval process for the agreed sale of our Nickel business. At De Beers, we continue to work towards a transaction in a challenging market, having taken decisive action to protect cash and preserve value.

“Our merger with Teck to form a copper-focused global metals and minerals champion continues to progress and integration planning is now at an advanced stage. We continue to engage constructively with China’s anti-trust regulator, with this being the final outstanding regulatory milestone required for completion. Expected completion timing by March 2027 remains unchanged.”

• Copper production decreased by 5% to 174,900 tonnes, primarily driven by unprecedented weather events in Chile, and processing lower-grade stockpile ore at Collahuasi.
• Premium iron ore production decreased by 4% to 13.8 million tonnes, due to commencing the tie-in of the first UHDMS module at Kumba, partially offset by higher plant availability at Minas-Rio, reflecting the planned shutdown in the comparative period.
• Manganese ore production increased by 6% to 1,031,400 tonnes, reflecting increased operating levels in Australia and improved productivity and operating improvements in South Africa.
• Rough diamond production decreased by 11% to 6.8 million carats, primarily driven by planned plant maintenance at Orapa and a slowdown at Venetia ahead of the previously announced production pause.
• Steelmaking coal production increased by 53% to 2.9 million tonnes, primarily driven by the ramp-up of longwall production at Moranbah North.
• Nickel production increased by 3% to 10,400 tonnes, reflecting timing of maintenance at Barro Alto.
• Production and unit cost guidance remains unchanged for 2026, except for lower Copper Peru unit costs of c.50 c/lb (previously c.65 c/lb) and De Beers production of 25–28 million carats (previously 21-26 million carats), with unit costs revised accordingly to c.$70/carat (previously c.$80/carat).