# Anglo American’s first-quarter copper output rises 28% Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-04-25 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Anglo American Q1 copper output up 28% Meta Description: Anglo American reports a 28% increase in copper production in Q1, driven by operations in Peru and coal improvements. Learn more about their latest results. URL: https://financedigest.com/anglo-americans-first-quarter-copper-output-rises-28html ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-04-25t062252z1lynxmpej3o05krtroptp4anglo-amercn-production-1736814103375-compressed.jpg) # Anglo American’s first-quarter copper output rises 28% LONDON (Reuters) -Anglo American’s overall first-quarter production rose 9% from a year earlier, helped by a 28% jump in copper output from the ramp-up of its Quellaveco mine in Peru and improvement in its steelmaking coal operations, it said on Tuesday. The London-listed miner said it produced 178,000 tonnes of copper in the quarter to March, and reported a 59% jump in steelmaking coal output to 3.5 million tonnes. Copper production, however, came below analysts’ expectations and was down from the previous quarter, due to lower grades at Chilean mines Los Bronces and Collahuasi. The [company left its full-year production and unit cost](https://www.financedigest.com/factbox-companies-count-the-cost-of-ditching-russia.html "Factbox – Companies count the cost of ditching Russia") guidance unchanged. With mixed results and no change to production and cost guidance, we do not expect meaningful changes to consensus [earnings estimates](https://www.financedigest.com/recruiter-randstad-beats-q1-earnings-estimates-despite-hiring-slowdown.html "Recruiter Randstad beats Q1 earnings estimates despite hiring slowdown") for 2023,” Citi analysts said in a note. Anglo’s [share price](https://www.financedigest.com/siemens-ceo-watching-the-share-price-of-siemens-energy-ceo.html "Siemens CEO watching the share price of Siemens Energy – CEO") was down 2% by 0742 GMT, in line with its peers. Rough diamond production via its [global giant](https://www.financedigest.com/vietnamese-publishers-able-to-compete-with-global-giants-thanks-to-new-advertising-tools-from-adnami.html "Vietnamese publishers able to compete with global giants thanks to new advertising tools from Adnami") De Beers remained flat at 8.9 million carats over the period, partly due to the transition of its Venetia mine in South Africa from open pit to a new underground section. De [Beers jointly owns Africa’s largest diamond producer](https://www.financedigest.com/top-diamond-producer-de-beers-names-equinors-cook-as-new-ceo.html "Top diamond producer De Beers names Equinor’s Cook as new CEO") Debswana with Botswana, although the country is exploring other options outside their 54 year-old partnership. The two partners are currently in talks to [renew a 2011 sales and marketing](https://www.financedigest.com/lightsource-bp-to-enter-polish-renewables-market.html "Lightsource BP to enter Polish renewables market") agreement which entitles De Beers to 75% of the production from Debswana. (Reporting by Clara Denina and Muhammed Husain; Editing by Dhanya Ann Thoppil, Kirsten Donovan and Bernadette Baum) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---