Anglo American Q4 2025 overview of its operations
Anglo American reports that its copper production was 169,500 tonnes, with higher production at Los Bronces as a result of higher grades and strong plant performance offset by lower grades at both Quellaveco and Collahuasi, resulting in a 14% decrease year-on-year.
Premium iron ore production increased by 6% to 15.1 million tonnes, primarily due to higher production from Kumba.
Manganese ore production increased by 22% to 908,500 tonnes, reflecting more normalised production levels following the temporary suspension caused by a tropical cyclone in Australia in March 2024.
Rough diamond production decreased by 35% to 3.8 million carats, primarily driven by maintenance shutdowns at Jwaneng and Orapa as part of the production response to market conditions.
Steelmaking coal production decreased by 15% to 2.1 million tonnes, primarily due to the sale of Jellinbah in November 2024 and lower production at Dawson due to wet weather and mine sequencing, partially offset by strong performance at the Aquila longwall operation.
Nickel production increased by 3% to 10,300 tonnes, reflecting the benefit of higher grades and recoveries.
All of our continuing businesses delivered their full year production guidance for 2025.
See next page for footnotes.
The Group expects to recognise charges within underlying EBITDA in the second half of 2025 relating to long-term rehabilitation provisions at Copper Chile that are currently estimated to be c.$0.2 billion.
Underlying EBITDA from De Beers is expected to be negative in 2025. Due to the Group profit mix for the business, and specifically the impact from De Beers losses, the Group underlying effective tax rate is expected to be above the 44-48% guidance range. The Group is undertaking an impairment review of De Beers’ carrying value, assessing the impact of diamond market conditions, which could potentially lead to an impairment at the full year results.
