Pretoria News

Anglo American lifts production 10%, despite decline in its PGM |

TAWANDA KAROMBO

ANGLO American, the diversified resource group, yesterday posted a decline in platinum group metals and nickel production, which was, however, offset by stronger output from its copper, diamond and coal production.

Anglo American’s overall output for the period firmed by 10%.

Copper output topped 244 300 tons, a massive 52% surge on the prior year contrasting period, and diamonds registered a 6% increase to 8.2 million carats. Production of steelmaking coal was also 6% higher which was powered up by optimum productivity during the quarter period.

Duncan Wanblad, the chief executive for Anglo American, said the overall productivity increase for Anglo American for the quarter period had been driven by “the ongoing ramp-up at Quellaveco, which produced more than 80 000 tons” of copper.

He also attributed the robust output surge to “higher rough diamond production from De Beers and improved operational performance” from the Minas-Rio and Kumba iron ore businesses.

In Botswana, diamond production increased by 11% to 5.8 million carats, “driven by strong plant performance at Jwaneng” while in Namibia, diamond production increased by 51% to 0.6 million carats, attributable to “continued strong performance from the Benguela Gem vessel and the treatment of higher grade ore” at the land operations.

Diamond production from the South Africa production, however, sagged by as much as 27% to 0.9 million carats. At Venetia in South Africa, mining of the open pit has now been ended and the mine will transition to underground operations this year.

“In 2023, our unwavering focus remains on ensuring a safe and stable platform for strengthened and repeatable operational performance, while progressing towards our sustainability ambitions and advancing our organic growth options,” said Wanbald.

Anglo American’s stronger production performance across iron ore, copper and steelmaking coal, said Wanbald, had been dimmed by a “weaker performance at our PGMs operations” during the period under review.

Own mined PGM production was 11% weaker at 656 600 ounces mainly as a result of “lower grades at the Mogalakwena operation, as well as planned infrastructure closures at Amandelbult” despite stronger performance from Mototolo.

“Mogalakwena production decreased by 15% to 256 700 ounces as a result of mining in a lower grade area. Production at Amandelbult decreased by 17% to 176 600 ounces, primarily due to planned infrastructure closures and the closure of the Merensky Concentrator,” the company reported.

In Zimbabwe, the Unki mine was impacted by maintenance at the concentrator and lower grade ores, all contributing to a 17% decrease in production at 52 600 ounces.

With joint venture operations broadly flat at 99 000 ounces, there was some PGM respite for Anglo American after Mototolo lifted output by some 26%.

For its Australian operations, Anglo American has secured 100% renewable electricity supply from 2025, “effectively removing all Scope 2 emissions” from the steelmaking coal business.

This year, Anglo American has also completed a transaction to combine First Mode and nuGenTM, its zero emissions haulage system that is designed “to accelerate the development and commercialisation of innovative decarbonisation technology” putting it in good course “towards carbon neutral operations”.

BUSINESS REPORT

en-za

2023-02-03T08:00:00.0000000Z

2023-02-03T08:00:00.0000000Z

https://pretorianews.pressreader.com/article/281968906833816

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