Anglo American output falls in Q3 as Chile snow hits copper, guidance kept
Anglo American reported a 4.9% drop in Q3 copper output due to heavy snowfall in Chile but kept its full-year forecast. Its shares fell 2.2%.
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what happened
Anglo American shares slipped 2.2% on Tuesday after the company published its operational review, as reported by Seeking Alpha. According to the company, third-quarter copper production declined 4.9% year on year, to 174.9K metric tons. Anglo blamed heavy snowfall in Chile, which interrupted mining and production.
For the first nine months, copper output dropped 1%, to 519K tons. Even so, the company left its 2026 copper guidance of 700K-760K tons unchanged, pointing to higher grades at its Collahuasi and Quellaveco mines. Q3 diamond output fell 12% to 6.8M carats, but full-year diamond guidance was raised to 25M-28M carats from 21M-26M, reflecting full ownership of the Gahcho Kue mine in Canada. Per the report, premium iron ore output fell 4% to 13.8M tons in Q1 after planned plant upgrades. Anglo is also divesting its De Beers unit, and its proposed merger with Teck Resources is at an advanced integration planning stage.
why it matters
The volume figures matter most for copper markets. A quarterly decline combined with an unchanged annual forecast suggests the company expects output to recover in the second half. For investors in copper assets, the Chile weather disruption adds short-term supply uncertainty without changing the overall annual picture.
market impact
Copper and Anglo American shares: weaker quarterly output with unchanged guidance puts pressure on the company's stock
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instruments
sources
- Anglo American posts lower Q3 copper production but maintains full-year guidance — Seeking Alpha, 20 October 2026 at 15:57 UTC
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