Anglo American’s copper production up 56% driven by Quellaveco

Mining major Anglo American has reported that its Q2 2023 copper production increased by 56% y-o-y to 209 kt, reflecting the ramp-up of production from the company’s new Quellaveco copper mine in Peru.

The company’s rough diamond production decreased by 5% to 7.6 million carats, as a strong operational performance was offset by expected lower production from Venetia, as it transitions to underground operations.

Metal in concentrate production from the company’s platinum group metals operations decreased by 9% to 943 koz, mainly due to short-term operational challenges and 2022 planned infrastructure closures at Amandelbult, as well as the planned ramp-down of Kroondal.

Steelmaking coal production increased by 28% to 3.4 million tonnes, reflecting higher production at the open cut operations, which were impacted by unseasonal wet weather in Q2 2022.

Iron ore production increased by 9% 15.6 million tonnes, principally driven by a strong operational performance at Minas-Rio where production increased by 29%.

Importantly, the company said that its 2023 production guidance is unchanged.

Anglo American is a producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel, – with crop nutrients in development.