Anglo American keeps outlook despite lower copper output in quarter
Anglo American reported a 5% drop in copper output for the third quarter but kept its full-year guidance for copper and iron ore. Source: Sharecast.
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what happened
According to Sharecast, copper production fell 5% in the three months to 30 September, to 174,900 tonnes. The miner blamed unplanned maintenance and record snowfall in Chile. Premium iron ore output dropped 4% to 13.8m tonnes, while manganese ore rose 6% to 1.03m tonnes.
Despite the quarterly decline, the company reaffirmed full-year copper guidance of 700,000 to 760,000 tonnes and premium iron ore guidance of 55m to 59m tonnes. It trimmed its copper unit cost forecast to around 139 cents per pound from 145 cents. Chief executive Duncan Wanblad said operating performance was resilient and the company is on track for its 2026 targets, helped by better copper ore grades in the fourth quarter. The $53m all-share merger with Teck Resources is at an advanced integration stage, with China's anti-trust regulator the final outstanding milestone.
why it matters
For copper and iron ore markets, both output volumes and producer costs matter. A lower cost forecast alongside unchanged volume targets could support the company's margins. Completion of the Teck deal is expected by March 2027, while disposals of steelmaking coal, diamonds and nickel businesses remain underway.
market impact
Copper and iron ore: a quarterly output dip with unchanged guidance moderately supports raw material prices
tags
instruments
sources
- Anglo American reaffirms outlook despite production hit — Sharecast, 20 October 2026 at 08:35 UTC
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