Anglo American PLC on Thursday reported mixed production performance in 2022, with copper and diamond operational improving, while platinum group metals and iron ore disappointed.

The London-based mining company improved copper production by 2.6% to 664,000 tonnes in 2022 from 647,000 tonnes in 2021.

For the fourth quarter that ended December 31, copper output increased by 52%, due to the ramp-up of production from its new Quellaveco copper mine in Peru, while production from operations in Chile was broadly flat.

In 2022, diamonds production rose by 7.1% to 34.6 million carats from 32.3 million carats, reflecting strong operational performance, particularly at Jwaneng in Botswana.

Anglo American also said steelmaking coal grew marginally to 15.0 million tonnes in 2022 from 14.9 million tonnes a prior year.

The group said it had secured 100% renewable electricity supply for its operations in Australia from 2025, effectively removing all scope two emissions from its Steelmaking Coal business.

Annual manganese ore production increased by 1.6% to 3.74 million tonnes from 3.68 million tonnes, while nickel output fell by 4.6% to 39,800 tonnes from 41,700 tonnes.

Separately, Anglo American Platinum Ltd, subsidiary of Anglo American, said on Thursday its annual platinum group metal production declined in 2022 due in part to poor grades and electricity loadshedding.

The Johannesburg-listed platinum producer reported a 6% drop in PGM output to 4.02 million ounces in 2022 from 4.29 million ounces a prior year.

For the fourth quarter to December 31, production also slumped 10% to 990,400 ounces from 1.10 million ounces in the same quarter in 2021.

Iron ore production declined by 7.1% to 59.3 million tonnes in 2022 from 63.8 million tonnes in 2021.

Kumba Iron Ore Ltd, in which Anglo American has a 65% stake, reported on Thursday that its iron ore production decreased by 7.8% to 37.7 million tonnes from 40.9 million tonnes.

Anglo American expects diamonds production for 2023 to range between 30 million carats and 33 million carats, while copper is guided to rise to between 840,000 tonnes and 930,000 tonnes.

Annual PGM output is projected to decline to between 3.6 million ounces and 4.0 million ounces, while iron ore production guidance ranges between 57 million tonnes and 61 million tonnes.

The 2023 guidance for steelmaking coal is between 16 million tonnes and 19 million tonnes.

Anglo American shares were up 1.2% at 3,429.00 pence in London on Thursday morning. But they were down 0.2% at R 717.46 in Johannesburg.

In Johannesburg, Anglo American Platinum jumped by 2.5% to R 1,315.7, while Kumba rose 0.2% to R 526.81.

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