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Anglo’s Bid to Increase Copper, Iron Ore Output Hit by Rain

Sunday, 24 April 2011

Anglo’s Bid to Increase Copper, Iron Ore Output Hit by Rain

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Anglo American Plc (AAL), the world’s biggest platinum producer, posted declines in output of copper, coal and iron-ore in the first quarter as heavy rain in the Southern Hemisphere hindered expansion plans.

Iron-ore output fell 19 percent to 9.9 million metric tons mainly due to “wet pit conditions, resulting from excessive rainfall” at the mines of Kumba Iron Ore Ltd. (KIO), in which Anglo owns a 65 percent stake, the company said in a statement today. Copper production fell 14 percent to 138,800 tons, while coking coal output was 37 percent lower at 2.1 million tons.
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