Anglo American Upgrades Kumba Iron Ore's 2017 Production Guidance
July 20 2017 - 03:02AM
Dow Jones News
By Razak Musah Baba
LONDON--Anglo American PLC (AAL.LN) Thursday increased its 2017
production guidance for Kumba Iron Ore in South Africa as it
reported an 8% increase in copper equivalent production in the
second quarter of 2017, compared with the same period of 2016.
The miner said for the half year ended June 30, copper
equivalent production increased by 9% from the year earlier.
"We have delivered another strong production quarter across most
of our businesses," Chief Executive Mark Cutifani said. "Through
the improvements we have made to our portfolio and the efficiencies
we are driving, we continue to unlock the potential of our world
class assets. The production ramps at Gahcho Kue, Minas-Rio and
Grosvenor are also contributing to these ongoing positive
performance trends. We have increased the full year production
guidance for Kumba Iron Ore and are on track to deliver full year
guidance across the rest of our products."
Kumba Iron Ore's full-year production guidance has been
increased to 41 to 43 million tons from 40 to 42 million tons as a
result of the improved performance.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
July 20, 2017 02:47 ET (06:47 GMT)
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