AAUKY - Anglo American mining production rebounds; cuts thermal coal guidance

Anglo American ([[AAUKF]], [[AAUKY]]) says its mining operations continued to recover from the early impact of the pandemic during Q3, with total production jumping 24% compared with the previous quarter as operations are now running at ~95% of normal capacity.But output was still running behind year-ago numbers for most of the commodities the company produces: Diamond production fell 4% Y/Y, platinum slipped 2%, palladium was flat, iron ore dropped 9% in South Africa and 18% in Brazil, metallurgical coal tumbled 26%, thermal coal declined 11%, and nickel fell 10%.Q3 copper production increased 4% Y/Y, driven by the Collahuasi operation in Chile, and manganese rose 3%.Anglo's operations were hit harder than many of its rivals earlier this year due to its reliance on South Africa, where the government imposed stringent lockdown measures.Anglo maintained most of its full-year production targets, although it cut guidance for export thermal coal to 19M metric tons

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Anglo American mining production rebounds; cuts thermal coal guidance