Anglo American 4Q Production Rose, Sees Increase in Copper Output in 2023

By Anthony O. Goriainoff

Anglo American PLC said Thursday that production in the fourth quarter rose 10%, boosted by the continuing ramp-up at Peru's Quellaveco project, which produced more than 80,000 metric tons of copper.

The FTSE 100 mining company said it expects to produce between 840,000 and 930,000 metric tons of copper in 2023.

Copper production for 2022 was 664,000 metric tons, a 3% rise on 2021's production.

Anglo American forecast that in 2023 it will produce 30 million to 33 million carats of diamonds, 3.6 million to 4.0 million platinum group metals ounces, 57 million to 61 million tons of iron ore, and 38,000 to 40,000 tons of nickel.

Platinum group metals include platinum, palladium, rhodium, iridium, ruthenium , and osmium.

For 2022, the group reported that diamond production rose 7% to 34.6 million carats, with platinum group metals down 6% at 4.02 million ounces, iron ore 7% lower at 59.3 million tons, and manganese ore rising 2% to 3.7 million tons.

Steelmaking coal output rose 1% to 15.0 million tons and nickel slipped 5% to 39,800 tons, it said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

February 02, 2023 02:47 ET (07:47 GMT)

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