Anglo American Plc’s Q4 Performance: Iron Ore Production Decreases by 12% Due to Kumba’s Planned Reduction

Published On: February 15, 2024Company: Anglo American Plc (
What was the overall impact of Kumba's planned production reduction on Anglo American's Q4 performance?
Overall, despite an increased production by 15% at Minas-Rio, the planned slowdown in Kumba's production resulted in an overall decrease of iron ore production by 12% for Anglo American.


  • Anglo American production for fourth quarter was as expected, despite slowdown at Kumba, with the Quellaveco mine in Peru and Minas-Rio achieving their highest quarterly volumes.
  • Overall fourth quarter volumes were down by 7% due to planned reduction at Kumba and unfavourable ore phase at Los Bronces.
  • Minas-Rio’s record quarterly performance led to a 15% production increase, but this was offset by a slowdown in Kumba’s production, resulting in an overall decrease in iron ore production by 12%.
  • Nickel production increased by 9%, while copper production saw a decrease of 6% due to a decrease in Chile’s production.
  • The Group is currently evaluating the carrying value of De Beers due to subdued Sight sale results and poor macroeconomic conditions, and the carrying value of Barro Alto due to a sharp decline in short- and medium-term nickel prices.
  • The company expects to recognise charges within EBITDA in the latter half of 2023 at Copper Chile and at De Beers.
  • The company’s 2024 guidance remains unchanged from the December investor update.

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About Anglo American Plc (

Anglo American Plc is one of the companies listed on the Botswana Stock Exchange (BSE). The company is a major player in the mineral exploration, extraction, refining and trading sectors. With its operations headquartered in Gaborone, its operational activities span several sectors including oil and gas, coal, diamonds, iron ore, copper and precious metals.

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