23rd Apr 2015 06:12
LONDON (Alliance News) - Anglo American PLC Thursday reported a rise in iron ore, platinum and diamond production in the first quarter as the company reiterated its full-year guidance across all of its segments.
The FTSE 100 miner said iron ore production rose at both the Kumba and Minas-Rio mines, with thermal coal, diamond and platinum production also rising, whilst metallurgical coal and nickel production fell year-on-year in the first quarter.
Iron ore production at Kumba rose to 12.2 million tonnes in the first quarter, compared to 11.3 million tonnes a year earlier, whilst production at Minas-Rio totalled 1.2 million tonnes. The Minas-Rio mine was not producing in the same period a year earlier.
Thermal coal production rose to 8.7 million tonnes in the period from 7.9 million tonnes, but metallurgical coal production fell to 5.0 million tonnes from 6.1 million tonnes.
Copper production also fell to 171,800 tonnes in the first quarter from 202,000 tonnes, alongside nickel production declining to 6,700 tonnes from 9,200 tonnes a year earlier.
Platinum production rose 50% to 536 equivalent ounces from 357 ounces, and diamond production experienced a slight increase to 7.7 million carats from 7.5 million.
Anglo American said all of its units' guidance remains unchanged for the full year.
By Joshua Warner; [email protected]; @JoshAlliance
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