Anglo American reported a 5% decline in third-quarter copper production on Tuesday, 20 October 2026, after extreme winter weather disrupted its Chilean operations. The mining group nonetheless kept its full-year output guidance unchanged, according to its quarterly production report, as cited by mining.com. Anglo produced 174,900 tonnes of copper in the three months ended 30 September, down from 183,500 tonnes a year earlier.
Output in Chile fell 6% to 94,200 tonnes, reflecting record snowfall, severe weather and lower ore grades at Collahuasi and El Soldado. Production in Peru declined 3% to 80,700 tonnes. CEO Duncan Wanblad said operational performance had been resilient across the business, continuing the momentum from the first half of the year despite extreme winter weather in Chile.
He added that the company was on track to meet its 2026 guidance, supported by a planned improvement in copper ore grades in the fourth quarter. The copper outlook carries strategic weight because Anglo is reshaping its portfolio around the metal ahead of its proposed combination with Teck Resources. The company said the transaction remains on schedule for completion by March 2027, with approval from China's antitrust regulator as the final outstanding regulatory requirement.
The proposed merger would create a major global copper producer at a time when demand for the metal is expected to benefit from electrification and expanding power infrastructure. Copper production for the first nine months totalled 518,500 tonnes, 1% below the comparable period in 2025. Anglo maintained its annual guidance of 700,000 to 760,000 tonnes, supported by an expected improvement in ore grades at its Collahuasi and Quellaveco operations.
The company also lowered its copper unit-cost forecast to approximately 139 cents per pound from 145 cents, reflecting stronger by-product prices and cost controls, particularly in Peru. In other commodities, premium iron ore production declined 4% to 13.8 million tonnes, as planned upgrades at Kumba's South African operations offset stronger output from Minas-Rio in Brazil. Manganese production rose 6% to 1.03 million tonnes, while steelmaking coal output jumped 53% to 2.9 million tonnes.
Anglo is also advancing the sale of its Australian steelmaking coal assets to Dhilmar for up to $3.9 billion, while its planned nickel divestment remains under review by European regulators. The diamond business presents a more difficult picture. Declining diamond prices, production disruptions and uncertainty over future ownership continue to complicate the planned sale of De Beers.
Rough diamond production fell 11% year-on-year to 6.8 million carats in the third quarter, primarily because of planned maintenance at Orapa in Botswana and reduced activity at Venetia in South Africa ahead of a two-year production pause. Botswana's output declined 20% to 4.8 million carats, while South African production dropped 37% to approximately 418,000 carats. De Beers expects further declines in the fourth quarter as maintenance at Botswana's Jwaneng mine restricts production.
Trading conditions showed signs of stabilizing during the quarter, supported by improved consumer demand in the United States and India. However, competition from laboratory-grown diamonds continued to weigh on lower-priced natural stones. Source: mining.com (Cecilia Jamasmie, 20 October 2026), citing Anglo American's quarterly production report of 20 October 2026.
Source: mining.com