28th Apr 2026 09:54
(Alliance News) - Anglo American PLC on Tuesday reported a rise in copper, manganese and diamond output, but lower iron ore production in the first quarter, while subsidiary Kumba Iron Ore Ltd posted higher sales despite output falling.
London-based Anglo American produced 170,000 tonnes of copper in the three months ended March 31, up from 169,000 the previous year, at an average realised price of 572 US cents per pound, up 29% from 444 cents on-year. Diamond production rose to 7.1 million carats from 6.1 million, though the consolidated average realised price fell 19% to USD101 per carat from USD124.
Manganese ore production more than doubled to 759,000 tonnes in the first quarter from 348,000 a year earlier, reflecting a recovery from a temporary suspension which dated back to a tropical cyclone in Australia in March 2024.
Steelmaking coal output was down to 1.5 million tonnes from 2.2 million, "primarily impacted by lower production from Moranbah North following the incident in March 2025 and significant weather impacts at the Dawson open cut operation," Anglo said. Last year, the company had reported that "a small contained ignition occurred in the goaf at Moranbah North mine...resulting in the controlled and safe withdrawal of all personnel to the surface". Initial re-entry to Moranbah North mine was completed in April 2025.
"As previously announced, Anglo American is committed to divesting its Steelmaking Coal business and the sale process is progressing well, with expectations for a sale to be agreed in the second quarter of 2026," the company noted on Tuesday.
Nickel output decreased to 9,100 tonnes from 9,800. Iron ore output fell to 15.2 million tonnes from 15.4 million, at an average price of USD91 per wet metric tonne, down from USD96. Anglo American had previously reported a definitive agreement to sell the nickel business to MMG Singapore Resources Pte Ltd, with the sale in the process of clearing antitrust hurdles.
At Johannesburg-based subsidiary Kumba Iron Ore, the average price fell to USD93 per wet metric tonne from USD98. Waste mining decreased to 39.2 million tonnes in the first quarter from 40.5 million on-year, production decreased to 8.8 million tonnes from 9.0 million, but sales edged up to 9.3 million tonnes from 9.0 million.
Kumba Chief Executive Mpumi Zikalala commented: "In terms of our strategic priorities, as we position for a sustainable future, construction of Sishen's ultra high dense media separation project continues, with preparations underway for the main plant tie-in scheduled for the second half of 2026.
Zikalala continued: "More broadly, Kumba's export sales routes to our markets in Asia and Europe remain open and have not been impacted by shipping disruptions caused by the conflict in the Middle East. Our supply chains have been secured for the remainder of this year, and we continue to closely monitor developments and manage potential associated risks, including cost inflation."
Anglo left its production and unit cost guidance for 2026 unchanged, targeting iron ore production between 55 million and 59 million tonnes, at a cost of USD41 per tonne, including a contribution of 31 million to 33 million tonnes from Kumba, at USD45 per tonne. The latter's output is expected to be weighted towards the first half. From Minas-Rio iron operations, Anglo expects a contribution of 24 million to 26 million tonnes, at an average price of USD36 per tonne.
Guidance for annual copper output is between 700,000 and 760,000 tonnes at a cost of 172 US cents per pound. Within the diamonds business, which Anglo is exiting, guidance is between 21 million and 26 million carats at a cost of USD80 per carat.
Anglo American shares rose 0.6% to 3,651.50 pence on Tuesday morning in London. In Johannesburg, they fell 1.5% to ZAR820.41. Kumba shares were down 0.9% to ZAR308.04 each in Johannesburg.
By Holly Munks, Alliance News reporter
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