Anglo American PLC (LON:AAL) has upped its platinum production guidance for this year.
The blue-chip miner produced 406,000 ounces of the silvery-white metal in the second quarter and now expects full-year production to be between 2.40-2.45mln ounces (previously 2.3-2.4mln), citing “strong operational performance”.
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Total production of platinum-group metals for the year was also raised to a range between 4.85-5.10mln ounces. Overall, total production in the three months ended June 30 grew 6% on a copper equivalent basis, excluding the impact of suspended operations at its Minas-Rio iron-ore mine in Brazil.
Copper production rose 12% compared to a year ago to 158,000 tonnes, while production from its iron-ore Kumba mine in South Africa rose to 11.6mln tonnes.
Anglo reduced its full-year guidance for iron-ore though to 43mln-44mln tonnes (down from 44mln-45mln) in order to align production rates to rail availability.
The FTSE 100 group’s De Beers diamond mining company increased production by 3% to 9mln carats and guidance for the year remains unchanged at 34mln -36mln carats of diamonds.