24th Jul 2025 08:40
(Alliance News) - Anglo American PLC on Thursday said copper and manganese production fell but iron ore rose in the first half of this year, as its "portfolio simplification" plans made progress.
The London-based diversified miner has demerged Valterra Platinum Ltd, formerly called Anglo American Platinum Ltd. It is in the process of selling its diamond, steelmaking coal and nickel businesses. Copper, iron ore and manganese mines form core part of its new business.
For the first half of 2025, copper production declined 13% to 342,200 tonnes from 393,800 tonnes a year earlier. Copper output for the second quarter was 173,000 tonnes, down 12% from 196,000 in the same quarter last year, and was 2.3% lower from 169,000 tonnes in the first quarter of 2025.
But iron ore production was 31.4 million tonnes in the first six month, up 2.1% from 30.7 million tonnes. Iron ore output was up 1.9% to 15.9 million tonnes year-on-year in the second quarter from 15.6 million tonnes, and rose 3.2% from 15.4 million, quarter-on-quarter.
In a separate filing, Kumba Iron Ore Ltd on Thursday said iron ore production for the first half of 2025 was 18.24 million tonnes, down 1.1% from 18.45 million tonnes a year earlier. But iron ore output for the second quarter inched up 0.8% to 9.25 million tonnes from 9.18 million tonnes in the same quarter last year, and rose 2.9% from 8.99 million in the first quarter of 2025.
Within Anglo American, manganese ore production declined 3.9% to 1.09 million tonnes from 1.13 million tonnes. On-year, manganese ore output for the second quarter more than doubled to 746,000 tonnes from 356,000 tonnes, primarily due to the resumption of mining activities at the Australian operations following the damage caused by a tropical cyclone in March 2024. Output multiplied from 348,000 tonnes on a quarterly basis.
Among businesses it is exiting, Anglo American said diamond production in the first half slumped 23% to 10.2 million carats from 13.3 million carats. Diamond output for the second quarter plunged 36% to 4.1 million carats on-year from 6.4 million carats, and was down 33% from 6.1 million carats, on-quarter.
Steelmaking coal production for the first six months plummeted 46% to 4.3 million tonnes from 8.0 million tonnes, primarily due to the suspension of Grosvenor mine in Queensland, Australia, since June 2024, the sale of minority interest in Jellinbah Group Pty Ltd in November 2024 and the fire at the Moranbah North mine in March 2025.
Steelmaking coal output for the second quarter slumped 50% to 2.1 million tonnes on-year from 4.2 million tonnes, and was down 4.5% from 2.2 million tonnes in th first quarter.
Nickel production in the first half was down 1.0% to 19,300 tonnes from 19,500 tonnes. For the second quarter, nickel output fell 5% to 9,500 tonnes on-year from 10,000 tonnes, but rose 3.1% from 9,800 tonnes on-quarter.
Platinum group metals production for the first half slumped 32% to 1.18 million ounces from 1.75 million ounces. PGM output for the second quarter plunged 46% to 492,000 ounces on-year from 921,000 ounces, and was down 29% from 696,000 ounces on-quarter. Anglo American has spun off its PGM operation.
"I am pleased to report another solid quarter in copper and iron ore, with both businesses tracking to guidance," Anglo American Chief Executive Officer Duncan Wanblad said.
Looking ahead, copper production is expected to range between 690,000 tonnes and 750,000 tonnes in 2025, down from 773,000 tonnes in 2024.
Iron ore production is guided to between 57 million tonnes and 61 million tonnes in 2025, flat to down from 60.8 million tonnes in 2024.
Shares in Anglo American shares were flat at 2,348.00 pence on Thursday morning in London. In Johannesburg, they were down 0.6% to ZAR558.96.
On the JSE, Kumba rose 1.5% to ZAR326.21.
By Artwell Dlamini, Alliance News senior reporter South Africa
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