Anglo American: no surprises in review of production
(CercleFinance.com) - This morning Anglo American reviewed last year's production, which left investors fairly indifferent in London today.
The mining group from South Africa announced a 5% increase in its total copper extractions, on a like-for-like basis, over FY 2017. "This was achieved despite actions taken to remove higher cost volumes in platinum and metallurgical coal, which resulted in a 2% decrease in Q4 2017 copper equivalent production compared to Q4 2016," the group said. On a reported basis, copper production only increased by 0.4% to 579,300 tonnes.
Diamond production at its subsidiary De Beers increased by 22% last year, while that of manganese rose by 11% and iron ore increased by 8%. However, thermal coal production fell by 4%, as did nickel (-2%).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The mining group from South Africa announced a 5% increase in its total copper extractions, on a like-for-like basis, over FY 2017. "This was achieved despite actions taken to remove higher cost volumes in platinum and metallurgical coal, which resulted in a 2% decrease in Q4 2017 copper equivalent production compared to Q4 2016," the group said. On a reported basis, copper production only increased by 0.4% to 579,300 tonnes.
Diamond production at its subsidiary De Beers increased by 22% last year, while that of manganese rose by 11% and iron ore increased by 8%. However, thermal coal production fell by 4%, as did nickel (-2%).
Copyright (c) 2018 CercleFinance.com. All rights reserved.