Anglo American Chief Executive Mark Cutifani said "Anglo American has continued its strong operational recovery, with a 24% increase in production compared to Q2. We are currently operating at about 95% of our normal capacity - testament to our efforts to protect operational continuity across our business, whilst maintaining comprehensive measures across our operations to safeguard the lives and livelihoods of our workforce and host communities, as part of our holistic response to Covid-19. Continued strong performance at the Collahuasi copper operation in Chile helped mitigate our overall year-on-year production decrease to 3% compared to Q3 2019, despite planned maintenance at Minas-Rio iron ore in Brazil and excluding the effect of the suspended Grosvenor metallurgical coal operation in Australia. We have also seen encouraging improvement in demand for rough diamonds as we approach the holiday selling season, although there is still some uncertainty in terms of the timing of a sustained recovery."
Copper production increased by 4% as Collahuasi in Chile increased production by 17% due to ongoing strong performance.
PGMs production was broadly flat as a strong performance from the open pit Mogalakwena mine, with 12% higher palladium production, largely mitigated lower production from the underground Amandelbult.
In Iron ore, the pipeline inspection and maintenance at Minas-Rio in Brazil was completed successfully and on schedule, with operations restarted in early October.
Rough diamond sales improved ahead of the key Q4 holiday selling season for diamond jewellery.
Production Report for the third quarter ended 30 September 2020
(3) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
(4) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).
(5) Produced ounces of metal in concentrate. Reflects own mine production and purchase of concentrate.
(6) Volumes are reported as wet metric tonnes. Product is shipped with ~9% moisture.
(7) Reflects export primary production, secondary production sold into export markets and production sold domestically at export parity pricing from South Africa, and attributable export production (33.3%) from Colombia.
(8) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).
Source : STRATEGIC RESEARCH INSTITUTE, STEELGURU
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