Anglo American's diamond, copper production falls in second quarter

ANGLO American saw generally lower production of its metals and minerals in the second quarter as it advances the sale of the diamond group De Beers as part of a substantial portfolio simplification strategy.

- EDWARD WEST

The global mining group said in a production report on Thursday for the second quarter to June 30 that rough diamond production fell 36%, while copper production fell 11% during the three months due to sluggish demand.

The group is restructuring its portfolio to focus on copper, as it is a key metal in the burgeoning demand for electric vehicles and renewable energy infrastructure. The group is also focused on iron ore. The changes follow an attempt by BHP to take it over last year.

Anglo American directors said Thursday that the demerger of its platinum business on May 31, 2025, had been a success, but that the sale of its nickel and coking coal assets had not yet been completed. Platinum is not used to a great extent in renewable energy infrastructure.

Group CEO Duncan Wanblad said in a statement: "I am pleased to report another solid quarter in Copper and Iron Ore, with both businesses tracking to guidance.