Anglo American 2Q Copper Production Rose; Backs Full-Year View
20 July 2023 - 5:01PM
Dow Jones News
By Christian Moess Laursen
Anglo American on Thursday backed its full-year production
guidance after second-quarter copper production rose.
The multinational mining company produced 209,000 metric tons
copper in the quarter, a 56% increase from 134,000 tons in the
second quarter of 2022.
Meanwhile, Anglo American's platinum group metals production
fell to 943,000 ounces, down 9% from 1.032 million ounces a year
prior.
The FTSE-100 company trimmed its 2023 unit cost guidance for
platinum group metals to $1,000 an ounce from $1,025 an ounce
previously, while hiking its unit cost guidance for copper to 166
cents a pound from 156 cents a pound previously.
Full-year production guidance remained unchanged.
"Production increased by 11% compared to the second quarter in
2022, reflecting the ramp-up of our new Quellaveco copper mine in
Peru, which has now reached commercial production levels", Chief
Executive Duncan Wanblad said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
July 20, 2023 02:46 ET (06:46 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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