>By TINTSWALO BALOYI
JOHANNESBURG – ANGLO American has reported increased production for the fourth quarter of 2016.
Only copper production took a knock.
There were increases in nickel, iron ore, platinum and rough rough diamonds.
Output of diamonds rose 10 percent to 7,8 million carats for the three months compared with the same period a year ago.
Iron ore output from Kumba rose 9 percent on the year to 11,9 million tons, while production from Minas-Rio increased 49 percent to 4,9 million tons.
Platinum output rose 2 percent on year to 610 100 ounces while copper output from retained operations fell 19 percent on year to 146 600 tons in the fourth quarter.
Copper output fell 19 percent due to lower grades at Los Bronces and the impact of strikes at Los Bronces and El Soldado.
Operational improvements across the portfolio delivered a 4 percent production increase.
– Guardian