Anglo American posted a strong increase in third quarter iron ore production and increased its iron output target for the year.
Its copper production fell, hit by declining grades at its Chilean mines.
Output of iron ore, which makes up about a third of the company's underlying earnings, saw a 37 percent increase to 13 million tonnes in the quarter, compared with the same period last year.
The solid increase encouraged the company to boost its annual output guidance for the steelmaking ingredient slightly, to 45-46 million tonnes, from 44-46 million previously.
However copper, another big earner for AngloAmerican, posted a 15 percent decline to almost 177,000 tonnes on declining grades at its aging Los Bronces and Collahuasi mines.
Production of diamond rose 6 percent to 8.2 million carats while platinum output fell 14 percent to less than 533,000 ounces, as the company was in a ramp-up phase after a damaging 5-month mining strike earlier this year.
Source: Reuters |
