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Anglo American's Q2 copper output down 2% to 140,800 mt

https://www.chemnet.com   Jul 21,2017 Platts
South African Anglo American produced 140,800 mt copper on a contained metal basis in the second quarter of this year, down 2% on the year and 1% from Q1, the miner said Thursday.

Its copper output in the first half of this year was 283,400 mt, down 3% year-on-year.

Copper output in Q2, while broadly unchanged, was impacted by the temporary stoppage at El Soldado mine in Chile, partially offset by higher production at Los Bronces mine also in Chile, it said.

Its copper sales volumes in H1 2017 were impacted by temporary port closures in Chile due to poor weather conditions and heavy tidal swells limiting vessel availability.

It was also hit by higher arsenic content in copper concentrate from the Collahuasi mine in North Chile, which restricted sales into China, it said.

At the end of H1 2017, Anglo American had 105,000 mt of copper provisionally priced at 269 cents/lb. Its copper output guidance for this year stays unchanged at 570,000-600,000 mt.

The company's nickel output in Q2 hit 11,300 mt, up 2% on the year, while its nickel output in H1 was 21,200 mt, down 5% on the year.

The miner attributed the higher nickel output to stable performance at both smelting operations at its Barro Alto mine in Brazil, running slightly above nominal capacity in Q2, with output at its Codemin mine in Brazil having fallen 4% year-on-year to 2,200 mt in Q2 due to maintenance in May.

Its manganese ore output in Q2 jumped 7% year-on-year to 843,300 mt, with its Q2 output from the Australian and South African operations having risen by 5% and 9% on the year, respectively.

Anglo American's manganese alloy output in Q2 jumped 32% year-on-year to 39,300 mt, with its South African manganese operations continuing to operate only one of four furnaces, the company said.

Its platinum output in Q2 was 617,000 oz, up 5% on the year, with H1 platinum output at 1.189 million oz, up 3% on the year.
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