5th Feb 2026 10:38
(Alliance News) - Anglo American PLC said Thursday its annual copper and iron ore production met its estimates, describing performance as "strong".
The London-based diversified miner said copper production fell 10% to 695,000 tonnes in 2025 from 773,000 in 2024, coming in at the bottom end of Anglo's prior guidance of between 690,000 tonnes and 750,000. Copper output for the fourth quarter of 2025 declined 14% to 170,000 tonnes from 198,000 a year earlier.
Anglo American expects copper production to rise to between 700,000 tonnes and 760,000 in 2026, up to between 750,000 tonnes and 810,000 in 2027, and up to between 790,000 tonnes and 850,000 in 2028.
Premium iron ore production was flat in 2025 at 60.8 million tonnes, in the upper half of guidance of between 58 million tonnes and 62 million. Output for the fourth quarter was up 5.6% to 15.1 million tonnes from 14.3 million.
Anglo American projects iron ore production at between 55 million tonnes and 59 million in 2026, revised up from 54 million to 58 million tonnes predicted previously. Output is seen rising to between 59 million tonnes and 63 million in 2027 and to between 58 million tonnes and 62 million in 2028.
In a separate filing on Thursday, Kumba Iron Ore Ltd said iron ore production was up 0.9% to 36.1 million tonnes in 2025 from 35.7 million in 2024. Output was up 9.7% to 8.6 million tonnes in the fourth quarter from 7.8 million a year earlier, but was down 6.5% from 9.2 million in the third quarter.
Kumba kept its 2026 production guidance for iron ore of between 31 million tonnes and 33 million.
Anglo American said manganese ore production rose 30% to 2.97 million tonnes in 2025 from 2.28 million in 2024, and third-quarter output was up 22% to 909,000 tonnes from 742,000 a year before.
"We delivered another strong production quarter in our copper and premium iron ore businesses to end 2025, in line with our guidance," Anglo American Chief Executive Officer Duncan Wanblad said.
"2025 has been a year of significant transformation and a defining moment in Anglo American's long history," Wanblad said.
As part of its simplification plan, Anglo American is selling its coal, diamond and nickel assets. In September last year, Anglo American and Teck Resources Ltd announced they have agreed to combine their respective businesses in what they bill as a "merger of equals".
Anglo American's Wanblad said the mining group continues to secure key regulatory approvals for the Teck transaction, and it is advancing its integration plans.
Among businesses that Anglo American plans to exit, diamond production fell 12% to 21.7 million carats in 2025 from 24.7 million in 2024, and fourth-quarter output dropped 35% to 3.8 million carats from 5.8 million a year before.
Steelmaking coal in 2025 slumped 43% to 8.2 million tonnes from 14.5 million, and output for the fourth quarter was 15% lower at 2.1 million tonnes from 2.4 million a year before.
Anglo American said on Thursday the formal sale process for steelmaking coal is progressing well. "In Nickel we continue to work through the regulatory process, and we are progressing the separation of De Beers," it said.
Nickel production was down 0.8% to 39,700 tonnes in 2025 from 39,400 in 2024, while fourth-quarter output was up 3% to 10,300 tonnes from 10,000 a year before.
Shares in Anglo American were down 3.4% to ZAR772.28 on Thursday midday in Johannesburg. They were down 1.0% to 3,525.00 pence in London. But shares in Kumba were up 1.2% to ZAR380.58 in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
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