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Press Release by Anglo American
Anglo American reports a 1% increase in total production on a copper equivalent basis in the third quarter of 2018, compared to the same period of 2017, excluding the Minas-Rio stoppage(1).
Mark Cutifani, Chief Executive of Anglo American, said: "Our focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes 1% higher than the solid operational performance seen in Q3 2017. Production per employee has increased by 5% in 2018, compared to 2017, as we maintain relentless discipline on controllable costs. Strong operational performance at our Copper assets delivered a 17% increase in production, more than offsetting planned lower volumes at De Beers and the impact of rail infrastructure constraints at Kumba in the first half of the year."
De Beers production decreased by 5% to 8.7 million carats due to expected lower grades at Jwaneng and lower volumes at Venetia, due to a shutdown to upgrade its processing plant ahead of its transition from open cut to underground operations.
Copper production increased by 17% to 171,800 tonnes reflecting continued strong operational performance across all operations and planned higher grades.
Platinum and palladium production increased by 4% to 649,000 ounces and 1% to 411,000 ounces respectively driven by an improved performance at Amandelbult and the joint venture operations.
Kumba's iron ore production decreased by 9% to 10.5 million tonnes as planned, to offset elevated stock levels arising from Transnet rail constraints in H1 2018.
Metallurgical coal production decreased by 3% to 5.4 million tonnes with the timing of longwall moves.
Thermal coal export production increased by 13% to 7.7 million tonnes reflecting solid operational improvements at our coal assets.
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