LONDON Jan 29 Anglo American 's iron ore
production rose more than expected in the fourth quarter,
recovering from trouble at the division's largest mine and
copper output also rose to a quarterly record.
Iron ore was the largest contributor to Anglo's profit in
2012 and the mining group said output at its key Kumba Iron Ore
unit rose by 25 percent to 11.3 million tonnes in the
fourth quarter from the same period a year earlier, when it was
hit by a strike.
Copper, the second largest contributor to Anglo's profit,
also provided good news with production up 24 percent
year-on-year to a quarterly record of 214,400 tonnes, driven by
strong output at the Los Bronces mine, and higher grades at
Equivalent refined platinum production increased by 25
percent to 520,300 ounces in the fourth quarter as a result of
an increase in production from Mogalakwena, the company said.
An ongoing strike of platinum miners in South Africa is
costing the company about 4,000 ounces of platinum production a
day resulting in 100 million rand ($9.11 million) of lost
revenue per day though.
In platinum Anglo is battling labour trouble but also a
margins squeeze due to higher costs and lower prices.
Anglo, the fifth-largest diversified mining group, is
wrestling with a turnaround effort under Chief Executive Mark
Cutifani, after years of sector-lagging returns.