Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Anglo American reported an 11.5pc drop in iron ore production from Kumba and Minas-Rio mines in Q2 2020, while copper output rose by 5pc.


Mark Cutifani, chief executive officer of Anglo American said in a statement on Thursday that strong performance from Minas-Rio and Collahuasi helped mitigate the overall decrease in production from Anglo American mines. The company progressed from 60pc production capacity in April due to the COVID-19 related shutdowns to 90pc by the end of June. The company aims at net-zero emissions by 2040. 


For the first six months, iron ore production dipped by 1.3pc to 30.5mn mt from 30.9mn mt in H1 2019. Copper production declined by 2pc to 314,000mt in H1 2020 from 320,000mt the same period in 2019, while nickel output surged by 11pc to 21,700mt from 19,600mt.


Iron ore production for Q2 2020 decreased by 11.5pc to 14.7mn mt from 16.4mn mt in the same quarter last year. At the company’s Kumba mine in Kathu, South Africa, production dropped by 20pc to 8.5mn mt while output at Minas-Rio in Serro, Brazil rose 5pc to 6.2mn mt during the same period under comparison.


Anglo American produces copper concentrate from its Collahuasi and Los Bronces mines and its Quellaveco mine in Monquegua, Peru. Copper concentrate output rose by 5pc to 167,000mt in April-June this year from 159,000mt in Q2 2019. Nickel output from the company’s Barro Alto and Codemin mines in Goiás, Brazil grew by 10pc to 10,800mt from 9,800mt during the same periods under comparison. 

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