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Johannesburg - Global mining company Anglo American [JSE:AGL] produced more iron ore last year after increased production at its Minas-Rio mine in Brazil offset lower output from its Kumba Iron Ore [JSE:KIO] subsidiary in South Africa.
Production at Kumba Iron Ore fell 7% to 44.9 million tonnes last year while output at Minas-Rio rose to 9.2 million tonnes from 0.7 million tonnes, the company said on Thursday.
Iron ore is one of the biggest earners for Anglo American, which also produces coal, copper, platinum and diamonds.
It said annual production of thermal coal, nickel, copper and diamonds all fell last year though platinum output rose 25% to 2.3 million ounces as the company ramped up output following strikes in 2014.
Like its rivals, Anglo is battling with low commodity prices and slowing growth in top copper consumer China.
Anglo said last month it would sell more assets, suspend dividends until the end of 2016 and whittle its business down to three divisions to cope with severe falls in commodity prices.
Kumba Iron Ore said on Thursday it would scale back operations, cut costs and planned to reduce jobs at its Sishen mine, the largest iron ore operation in Africa.
The overhaul at Anglo American highlights the scale of the fallout from the commodities slide, which is forcing mining companies across the board to cut jobs, investment and costs.
