Anglo American Production Report for the third quarter ended 30 September 2023

 “Production in the third quarter overall was consistent with the same period in 2022. A 42% increase in copper production as Quellaveco’s contribution ramps up was offset primarily by De Beers, as Venetia transitions to underground operations, and by performance at Moranbah and the Grosvenor ramp-up at the underground Steelmaking Coal operations.

Duncan Wanblad, Chief Executive of Anglo American, said: “Our focus is on delivering our full year production guidance in line with a planned stronger second half of the year. Our production volumes increased by 4%(1) quarter-on-quarter, reflecting a step-up from our Steelmaking Coal operations driven by Aquila and at Grosvenor following the Q2 longwall move, operational improvements in the PGMs business and a progressive increase in volumes from Quellaveco. This was partially offset by planned maintenance programs at some operations and a planned reduction from Venetia, which continues to transition to underground operations. Copper production from Chile decreased due to ongoing ore hardness and an electrical substation fire at Los Bronces, resulting in a minor revision to guidance for our Chile operations. We are on track to deliver our full year guidance across all other products.”

Q3 2023 highlights

• Copper production increased by 42%, reflecting the progressive increase in production from Quellaveco in Peru, while production from our operations in Chile decreased by 4%.
• Production from our Platinum Group Metals (PGMs) operations was broadly flat despite planned mining in a lower grade area at Mogalakwena.
• Iron ore production decreased by 4%, principally driven by planned plant maintenance at Minas-Rio.
• Nickel production decreased by 7%, mainly reflecting the impact of lower grades.
• Steelmaking coal production decreased by 21%, reflecting challenging strata conditions at Moranbah and the ramp-up of Grosvenor during July following the longwall move in Q2.
• Rough diamond production decreased by 23%, primarily due to the planned reduction as Venetia transitions to underground operations.