Anglo American share price: Group posts eight-percent increase in Q2 output

Half-year output up nine percent

Anglo American share price: Group posts eight-percent increase in Q2 output

Anglo American (LON:AAL) has updated investors on its second-quarter and half-year performance.

Highlights from the company statement:

Anglo American reports an 8% increase in copper equivalent production in the second quarter of 2017, compared to the same period of 2016. For the half year as a whole, copper equivalent production increased by 9%.

Mark Cutifani, Anglo American Chief Executive, said: "We have delivered another strong production quarter across most of our businesses. Through the improvements we have made to our portfolio and the efficiencies we are driving, we continue to unlock the potential of our world class assets. The production ramps at Gahcho Kué, Minas-Rio and Grosvenor are also contributing to these ongoing positive performance trends. We have increased the full year production guidance for Kumba Iron Ore and are on track to deliver full year guidance across the rest of our products."

Highlights

· At De Beers, the ramp-up of Gahcho Kué and stable trading conditions supported a 36% increase in rough diamond production.

· Copper production, while broadly unchanged, was impacted by the temporary mine stoppage at El Soldado, partially offset by higher production at Los Bronces.

· Platinum's Mogalakwena mine production increased by 15% due to higher grades and increased throughput.

· Iron ore volumes from Sishen increased by 38% due to operational improvements.

· Metallurgical coal production from Australia was impacted by Cyclone Debbie, two longwall moves in Q2 and the ongoing geological issues at Grosvenor; improvements are expected in H2.

As of 07:22 BST, Thursday, 20 July, Anglo American plc share price is 1,127.94p.

Top Equities Brokers

0 Brokers added for comparison:
Clear all