File picture: IOL

JOHANNESBURG - Anglo American Plc on Thursday reported a five percent increase in total production on a copper equivalent basis for 2017.

Anglo American said that this was achieved despite steps taken to remove higher cost volumes in platinum and metallurgical coal, which resulted in a two percent decrease in the fourth quarter of 2017 copper equivalent production compared to 2016.

The miner released its production report for the fourth quarter ended 31 December 2017.

Copper production increased marginally to 148,600 tonnes, with Collahuasi mine in northern Chile achieving record production in the year, driven by continued strong plant performance and higher grades. 

Anglo American chief executive, Mark Cutifani, said the miner had delivered another strong operating performance in 2017. 

"The five percent increase for the full year reflects our ongoing focus on productivity and was achieved despite the removal of unprofitable and higher cost platinum and metallurgical coal volumes, consistent with our disciplined, value-led approach to production," Cutifani said.

"The ramp-up of Gahcho Kué and Grosvenor mines made positive contributions to our production profile in 2017, and a strong performance from Sishen resulted in an eight percent increase in production from Kumba Iron Ore."
 
 - African News Agency (ANA)