Anglo - production report
Anglo American ("AGL") reported a solid third quarter for 2025, with copper production at 183,500 tonnes, up 1% quarter-on-quarter, driven by higher grades at Quellaveco and Los Bronces. Iron ore output declined 9% to 14.3 million tonnes due to pipeline inspections, but Minas-Rio's guidance was increased to 23-25 million tonnes for 2025. Manganese ore surged 140% to 973,800 tonnes after a cyclone suspension. Diamonds production rose 38% to 7.7 million carats, mainly from Botswana. Steelmaking coal output fell 54% to 1.9 million tonnes following incidents and asset sales. The company raised Minas-Rio's 2025 guidance and maintained other production and cost forecasts. Anglo American continues its portfolio transformation, including a proposed merger with Teck and divestments, to accelerate growth in copper, iron ore, and critical minerals.
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