Company Data
| Last traded |
R261.89 |
| Change |
R-3.11 |
| % Change |
-1.17% |
| Cumulative volume |
4.99m |
| Market cap |
R351.71bn |
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Johannesburg - Resources giant Anglo American [JSE:AGL] on Monday confirmed that production had been stopped at its mines in Chile following the devastating earthquake that struck at the weekend.
The company's Chile operations include the Los Bronces and El Soldado mines, which produce a combined 280 000 tons of copper a year.
"Production was halted at the operations due to power failures when the earthquake occurred. Impact on production has not been quantified," confirmed Anglo American spokesperson Pranill Ramchander.
The 8.8 magnitude earthquake that struck south-central Chile early on Saturday has affected about 80% of the country.
"We are in touch with our teams on the ground and our priority is always on the safety of our people," Ramchander said, adding that the group would continue to monitor the situation "very closely".
Chile is the world's largest producer of copper and the disruption of mining operations are expected to push copper prices higher this week.
- I-Net Bridge