Anglo American copper output hits record but iron ore down

Anglo American (AAUKY.PK, AAUKF.PK) reports mixed Q3 production results, with copper, diamond and nickel output up but iron ore down and platinum output flat Y/Y.

Q3 copper production rose 32% Y/Y and 13% Q/Q to a quarterly record ~207K metric tons, as output at its Collahuasi mine in Chile more than doubled; output and revenue at Collahuasi, a venture with Glencore Xstrata, has been plagued by lower ore grades, extreme weather and accidents.

However, iron ore output fell 24% Y/Y and 16% Q/Q to 9.5M metric tons, as weaker production at unit Kumba Iron Ore’s Sishen mine was only partly offset by increased output at Kolomela.

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