Anglo American’s first-half copper production surges 42%
Global miner Anglo American said on Thursday its first-half copper production surged 42%, underpinned by the ramp-up of its Quellaveco mine operations in Peru.
Copper production rose to 387,200 metric tons in the first half from 273,400 metric tons a year before, it said.
An increase in copper demand for applications from solar panels to electric cars is set to steepen sharply in coming years as the world moves toward green energy and electrification.
The London-listed company left its full-year outlook unchanged for volumes of the metals it produces, but increased its unit costs for copper and nickel to reflect stronger local currencies.
Anglo expects to reach between 840,000 and 930,000 metric tons of copper production this year.
Iron ore production rose 12% to 30.7 million metric tons in the first half.
Platinum metals group unit Amplats on Monday warned that half-year profit could slide as much as 75%.
Rough diamond production fell by 2%. Anglo’s diamonds unit De Beers Group on July 1 struck a new long-term sales deal with the government of Botswana, where they jointly own Africa’s largest diamond producer Debswana.
