Anglo American 1Q Production Mixed, Lowers Fiscal Year Nickel Estimate

By Rory GallivanFeaturesDow Jones Newswires

Mining giant Anglo American PLC (AAL.LN) reported Monday higher production for commodities such as diamonds and coal for the first quarter, but lowered its full-year nickel production estimate as output of the metal declined.

Rough diamond production for the quarter ended March 31 rose by 8% from the same period last year to 7.4 million carats, while export metallurgical coal production increased by 28% to 5.2 million tons.

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Nickel production decreased by 12% to 9,900 tons due to unplanned maintenance, the company said, adding that full-year production guidance has been revised to between 43,000 and 45,000 tonnes from 45,000 tons previously.

Production guidance of other main commodities was left unchanged.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

April 24, 2017 02:33 ET (06:33 GMT)