Anglo American Reports 14% Drop in Q4 Copper Production Amid Broader Output Declines

Anglo American announced on Thursday that its fourth-quarter copper production fell by 14% to 198,000 tons, down from 230,000 tons in the same period last year. The decline was attributed to the planned shutdown of the smaller, costlier Los Bronces plant and expected lower grades at the Collahuasi operation, both located in Chile.

Iron ore production rose 4% year-over-year to 14.3 million tons, driven by increased output from the Kumba plant in Cameroon. However, production from Platinum Group Metals (PGMs) operations fell 6% to 876,000 tons.

Steelmaking coal production saw a significant 49% year-over-year decline, primarily due to an underground fire at the Grosvenor mine in June 2024, planned reductions at the Moranbah mine due to a longwall move, and the sale of the Jellinbah mine, which ceased contributing to Anglo American’s output from November 1, 2024.

Nickel production for the quarter decreased by 10%, reflecting planned lower grades. Rough diamond production dropped 26% compared to the previous year, as the company reduced output in response to sustained low demand, high inventory levels, and efforts to manage working capital.

Despite these declines, Anglo American maintained its 2025 production guidance, expecting copper output between 690,000 and 750,000 tons and iron ore production between 57 million and 61 million tons.