Anglo American PLC (LSE:AAL) said it remains on track to meet its 2025 production targets after a steady third quarter, with chief executive Duncan Wanblad highlighting strong performances in copper and iron ore and an upgraded outlook for its Minas-Rio mine in Brazil.
Copper output rose 1% to 184,000 tonnes, driven by higher grades and better plant performance at Quellaveco in Peru and Los Bronces in Chile. This helped offset lower production at Collahuasi, which is expected to recover by late 2026.
Iron ore production dipped 9% to 14.3 million tonnes due to a planned pipeline inspection at Minas-Rio, but the operation’s 2025 production guidance was raised to between 23 and 25 million tonnes.
Kumba in South Africa delivered a “solid quarter”, with stronger rail logistics supporting sales, the company said.
Manganese output rebounded sharply, more than doubling to 973,000 tonnes as production normalised following a cyclone-related shutdown last year.
Rough diamond output at De Beers rose 38% to 7.7 million carats, mainly due to higher production from Botswana’s Jwaneng mine ahead of scheduled maintenance later this year.
Steelmaking coal production, however, slumped 54% to 1.9 million tonnes following the incident at Moranbah North in March and the sale of Anglo’s stake in the Jellinbah mine.
The miner said progress continued on restarting Moranbah North and that preparations were underway to relaunch the sale process for its coal business in the coming months.
Nickel production was steady at 10,100 tonnes, while the pending sale of the unit to China-backed MMG Singapore remains subject to regulatory approvals.
Wanblad said Anglo was “well positioned to meet 2025 guidance,” noting progress in simplifying the portfolio and completing the $2.5 billion sale of its remaining stake in Valterra Platinum.
Work also continues on separating De Beers and finalising the nickel divestment.
He added that Anglo’s planned merger with Canada’s Teck Resources — still subject to shareholder and regulatory approval — would create a “global critical minerals champion” with more than 70% of its business exposed to copper.
The company also advanced its new partnership with Chile’s Codelco, agreeing to a joint mine plan between the neighbouring Los Bronces and Andina operations.
Anglo left its overall production and cost guidance unchanged for 2025, except for the upgrade at Minas-Rio. Copper guidance remains between 690,000 and 750,000 tonnes, with expected costs around 151 cents per pound. Iron ore costs are forecast at roughly $36 per tonne.