Anglo American reports 1Q19 results
Published by Claire Cuddihy,
Assistant Editor
World Coal,
Anglo American has released its results for the first quarter of 2019.
Mark Cutifani, Chief Executive of Anglo American, said: “Production is 6% lower in the quarter, with two planned longwall moves at metallurgical coal accounting for 80% of the reduction. Isolated production issues at Venetia (De Beers), Kumba Iron Ore and Platinum Group Metals made up the balance, mitigated by stronger operational performance from Copper, with a 4% production increase, and the ramp-up at Minas-Rio, which is ahead of plan following the restart of operations in December 2018. By the end of the quarter we had increased our production run-rate, are on track to deliver this year’s production targets and our guidance is unchanged.”
Highlights
- De Beers’ diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from opencast operations to underground operations.
- Copper production increased by 4% to 161 100 t due to strong plant performance and planned higher grades.
- Platinum and palladium production decreased by 5% to 471 900 oz and by 6% to 326 600 oz, respectively, due to operational challenges as well as one-off benefits in 1Q18.
- Kumba’s iron ore production decreased by 12% to 9.5 million t due to plant maintenance.
- Minas-Rio’s iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area.
- Metallurgical coal production decreased by 25% to 4.2 million t with two longwall moves in the period compared to only one in 1Q18.
- Thermal coal export production decreased by 2% to 6.6 million t, with solid operational performance across the South African mines offset by lower production at Cerrejón due to dust management.
To read the full report: https://www.angloamerican.com/media/press-releases/2019/25-04-2019
Read the article online at: https://www.worldcoal.com/coal/25042019/anglo-american-reports-1q19-results/
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