Anglo American's Copper Production Up 5% in 2017 -- Commodity Comment

By FeaturesDow Jones Newswires

Stoxx Europe 600-listed mining company Anglo American released its 4Q 2017 production report on Wednesday. Here are remarks from the company's report:

On overall production...

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"Anglo American reports a 5% increase in total production on a copper equivalent basis for 2017. This was achieved despite actions taken to remove higher cost volumes in platinum and metallurgical coal, which resulted in a 2% decrease in Q4 2017 copper equivalent production compared to Q4 2016."

On diamonds...

"De Beers production increased by 5% supported by stronger trading conditions, with Gahcho Kué operating at nameplate capacity since Q2 2017."

On copper production...

"Copper production increased marginally to 148,600 tons. Collahuasi achieved record production in the year, driven by continued strong plant performance and higher grades... Production from Los Bronces increased marginally [with] good operational performance and higher grades partially offset by the previously reported impact of a ball mill stator failure at the processing plant... El Soldado production decreased by 29% to 9,700 tons largely due to expected lower grade."

On platinum and palladium production...

"Platinum production decreased by 4% and palladium by 5% following the decision in Q3 2017 to remove unprofitable ounces by placing Bokoni on care and maintenance. Mogalakwena delivered a record production year driven by further productivity improvements."

On Kumba iron ore production...

"Kumba Iron Ore production for the full year increased by 8% driven by improved productivity... Kolomela production increased by 12% due to sustained productivity improvements. Waste removal reduced by 9%, as planned, mainly attributable to access to low strip ratio areas, also in line with the mine plan."

On metallurgical coal production...

"Metallurgical coal production for the full year increased marginally to 19.7 million tons, with Grosvenor's ramp-up and record productivity levels at underground operations offset by the removal of higher cost volumes at Dawson."

On nickel production...

"Nickel production of 11,400 tons was a record quarter."

Write to David Hodari at david.hodari@wsj.com

(END) Dow Jones Newswires

January 25, 2018 05:31 ET (10:31 GMT)

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