{"id":12608,"date":"2012-07-20T13:05:36","date_gmt":"2012-07-20T11:05:36","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-1-anglo-american-says-q2-iron-ore-copper-up\/"},"modified":"2012-07-20T13:05:36","modified_gmt":"2012-07-20T11:05:36","slug":"update-1-anglo-american-says-q2-iron-ore-copper-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-anglo-american-says-q2-iron-ore-copper-up\/","title":{"rendered":"UPDATE 1-Anglo American says Q2 iron ore, copper up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, July 20<\/span> (Reuters) &#8211; Global miner Anglo American<br \/>\n posted a rise in second quarter output for its key<br \/>\ncommodities, with iron ore and copper helped higher by<br \/>\nproduction ramp ups at the flagship Kolomela and Los Bronces<br \/>\nmines, while platinum and diamonds were weaker.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Anglo announced production results for the second quarter<br \/>\njust a day after a major reshuffle at its South African units<br \/>\nthat included a new bosses for platinum, Kumba Iron Ore<br \/>\nand thermal coal units, triggered by the departure of Neville<br \/>\nNicolau from the helm of Anglo American Platinum. He<br \/>\nwill be replaced by Kumba&#8217;s Chris Griffith.<\/p>\n<p><span><\/span><\/p>\n<p>Iron ore, a key plank of the miner&#8217;s growth strategy, was up<br \/>\n12 percent at 12.9 million tonnes, due to the ramp up of Kumba&#8217;s<br \/>\nKolomela mine that offset operational issues at Sishen, and<br \/>\nimprovements at Anglo&#8217;s Amapa operation in Brazil. Kumba<br \/>\nreported earnings separately on Friday.<\/p>\n<p><span><\/span><\/p>\n<p>Copper production was helped 7 percent higher by Chile&#8217;s Los<br \/>\nBronces, though increases there were partly dented by lower<br \/>\ngrades and adverse weather, as well as lower recoveries and a<br \/>\nball mill failure at the Collahuasi operation, the world&#8217;s third<br \/>\nlargest copper mine.<\/p>\n<p><span><\/span><\/p>\n<p>Diamonds followed a drop in the first quarter with a further<br \/>\n11 percent drop in the second as De Beers, which separately<br \/>\nreported earnings on Friday, focuses on maintenance and waste<br \/>\nstripping while it waits for demand to recover.<\/p>\n<p><span><\/span><\/p>\n<p>Platinum, the unit whose troubles have been a focus for<br \/>\nAnglo and its investors, saw virtually flat production compared<br \/>\nto the previous year, thanks to improved productivity and safety<br \/>\nperformance at its core Rustenburg mines.<\/p>\n<p><span><\/span><\/p>\n<p>Refined platinum production totalled 623,000 ounces, down 3<br \/>\npercent on the same quarter last year. That dip was partly<br \/>\ncaused by the delayed restart of the converter plant, with the<br \/>\nbacklog in stocks to be processed by the end of the third<br \/>\nquarter.<\/p>\n<p><span><\/span><\/p>\n<p>Anglo&#8217;s metallurgical coal operation, meanwhile, produced a<br \/>\nrecord quarter thanks to improvements at its open cut operations<br \/>\nincluding Peace River Coal, which the group has elected not to<br \/>\nsell. Production of the steelmaking coal rose 23 percent in the<br \/>\nsecond quarter, year on year, to 4.8 million tonnes.<\/p>\n<p><span><\/span><\/p>\n<p>Thermal coal, meanwhile, saw production increases both in<br \/>\nColombia and South Africa.<\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON, July 20 (Reuters) &#8211; Global miner Anglo American posted a rise in second quarter output for its key commodities, with iron ore and copper helped higher by production ramp ups at the flagship Kolomela and Los Bronces mines, while platinum and diamonds were weaker. Anglo announced production results for the second quarter just a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12608","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12608"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12608\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}