Share Prices & Company Research

Market News

21 Apr 2022 | 07:02

Anglo American lowers production guidance after Q1 output falls 10%

(Sharecast News) - Anglo American lowered annual production guidance after a 10% fall in first-quarter output, reflecting Covid-related staff shortages, high rainfall in South Africa and Brazil, and issues at its metallurgical coal and iron ore operations. The company on Thursday forecast platinum group metals (PGM) production to 3.9 million - 4.3 million ounces from 4.1m-4.5m.

Iron ore production was revised downwards to 60 million - 64 million tonnes from 63m-67m. First quarter output fell 19% as rainfall and plant issues affected operations in South Africa and Brazil.



Full year cost guidance was lifted 9%, reflecting a 4% impact from stronger producer currencies and 3% from inflationary pressures, particularly diesel, as well as revisions to volume guidance.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.