Anglo American in the fourth quarter reduced copper production by 14% year-on-year to 169.5 thousand tons, the company reported on Thursday.
The result is due to a decrease in copper grades at the Quellaveco (Peru) and Collahuasi (Chile) mines, which was partially offset by an increase at Los Bronces (Chile).
The annual figure is 695 thousand. tons (10% drop). by 2024) - close to the lower limit of the forecast of 690-750 thousand tons.
Anglo lowered its forecasts for copper production in 2026 from 760-820 thousand tons to 700-760 thousand tons. Of these, 390-420 thousand tons will be produced in Chile, 310-340 thousand tons - in Peru. The forecast for 2027 was reduced from 760-820 thousand tons to 750-810 thousand tons. In 2028, production is expected to be in the range of 790-850 thousand tons.
Iron ore production for the quarter increased by 6%, to 15.1 million tons, the annual result was 60.8 million tons (at the level of 2024) against the forecast of 58-62 million tons. The production level in 2026 has been raised from 54-58 million tons to 55-59 million tons. In 2027, 59-63 million tons are expected, in 2028 - 58-62 million tons.
Coking coal production during the quarter fell by 15% to 2.1 million tons, mainlym due to the sale of the Jellinbach field in November 2025 and lower production at the Dawson field. Nickel production increased by 3% to 10.3 thousand tons.
