Share

Strike-hit Anglo ups iron ore, copper output

Johannesburg - Miner Anglo American [JSE:AGL], smarting from a five-month strike at its platinum operations, reported higher iron ore and copper output for the first half of the year.

Production of iron ore, the biggest money earner for Anglo American last year, rose 5% to 22.8 million tonnes for the six months ended June 30.

Output of copper, which contributed about a quarter of the company's earnings last year, rose 12% to 396 400 tonnes.

Anglo American, which has been slashing jobs in its platinum operations and mothballing mines to improve the unit's profitability, said equivalent refined platinum production plunged 39% to 715 000 ounces due to the strike that ended in June.

The company's subsidiary Anglo American Platinum [JSE:AMS] (Amplats) this week warned that first-half earnings would fall by as much as 96%.

Amplats is reviewing its older and more capital-intensive platinum mines in Rustenburg in South Africa. However, the company did not provide any details on Thursday on possible disposal of some underperforming mines.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders