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‘Illegal’ strike action hurts Anglo American’s copper production

Published: 12:51 26 Jan 2017 GMT

explosions on a copper mine
Copper prices went up, Anglo copper production went down

Anglo American PLC (LON:AAL) reported a sharp fall in copper production during the fourth quarter of 2016 of almost 20% year-on-year.

Bad weather, poorer-than-expected grade quality and “illegal industrial action” by contractors at its Los Bronces mine were the main reasons for the dip.

The fall in output weighed on Anglo’s shares and offset the overall increase in output across its mining operations.

Rough diamond production increased by 10% to 7.8mln carats compared to the same period last year, albeit against soft comparatives.

Platinum production also increased, up 2% year-on-year to 610,000oz, while nickel production rose by 4% to 10,900 tonnes following the successful ramp-up of Barro Alto to nameplate capacity earlier in the year.

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