Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 04 25T062252Z 1 LYNXMPEJ3O05K RTROPTP 4 ANGLO AMERCN PRODUCTION
2023 04 25T062252Z 1 LYNXMPEJ3O05K RTROPTP 4 ANGLO AMERCN PRODUCTION

Anglo American’s first-quarter copper output rises 28%


Anglo American’s first-quarter copper output rises 28%

LONDON (Reuters) -Anglo American’s overall first-quarter production rose 9% from a year earlier, helped by a 28% jump in copper output from the ramp-up of its Quellaveco mine in Peru and improvement in its steelmaking coal operations, it said on Tuesday.

The London-listed miner said it produced 178,000 tonnes of copper in the quarter to March, and reported a 59% jump in steelmaking coal output to 3.5 million tonnes.

Copper production, however, came below analysts’ expectations and was down from the previous quarter, due to lower grades at Chilean mines Los Bronces and Collahuasi. The company left its full-year production and unit cost guidance unchanged.

“With mixed results and no change to production and cost guidance, we do not expect meaningful changes to consensus earnings estimates for 2023,” Citi analysts said in a note.

Anglo’s share price was down 2% by 0742 GMT, in line with its peers.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Rough diamond production via its global giant De Beers remained flat at 8.9 million carats over the period, partly due to the transition of its Venetia mine in South Africa from open pit to a new underground section.

De Beers jointly owns Africa’s largest diamond producer Debswana with Botswana, although the country is exploring other options outside their 54 year-old partnership.

The two partners are currently in talks to renew a 2011 sales and marketing agreement which entitles De Beers to 75% of the production from Debswana.

(Reporting by Clara Denina and Muhammed Husain; Editing by Dhanya Ann Thoppil, Kirsten Donovan and Bernadette Baum)

 

Recent Post: