Anglo American Q2 shines on diamond demand
By Frank Prenesti
Date: Tuesday 20 Jul 2021
(Sharecast News) - Anglo American reported a 20% rise in second quarter production, driven by strong output in diamonds and platinum, despite operations running at 95% of normal capacity because of Covid-19 disruptions.
The mining giant on Tuesday said rough diamond production rose by 134% in the three months to June 30 compared to the lockdown-impacted period a year ago as consumer demand recovered.
Platinum group metals production at its South African unit Anglo American Platinum increased by 59% to 1.06m, while copper production rose by 2% to 170,000 tonnes.
"We also successfully completed the demerger of our thermal coal operations in South Africa and announced the sale of our minority interest in Cerrejón in Colombia, marking the last stage of our transition from thermal coal operations, ahead of schedule," the company said.
"Our portfolio and growth investments are increasingly focused on those future-enabling metals and minerals that are critical to decarbonising energy and transport and to meeting consumers' growing needs, from luxury to everyday."
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