Anglo American has announced a 5 percent increase in output for 2017, helped by a new diamond mine.
Under Mr Cutifani, Anglo has focused on increasing productivity with each worker producing 70 percent more than in 2013. Anglo’s diamond business De Beers reported a 22 percent increase in volumes to 33.5m carats as the Gahcho Kué mine in Canada came on stream. As well as diamonds, Anglo’s key assets include copper mines in Chile and steel-making ingredient iron ore.
On iron ore, Anglo said its focus remained on getting the licenses needed to start the third phase of production at its Minas Rio mine in Brazil. If Anglo cannot get the permit it will be forced to suspend operations.
Shares in Anglo American have risen 22 percent over the past month. Investors hope the appointment of Cyril Ramaphosa as leader of South Africa’s ruling African National Congress on Monday will create a more business-friendly environment in the country, which remains a big source of income for Anglo.
