Anglo American has reported a solid start to 2026, with first-quarter production broadly in line with mine plans and gains in copper output helping offset softer performances in some commodities.
Chief executive Duncan Wanblad said the company delivered a “strong start to the year” across copper and premium iron ore, supported by improved performance at key operations.
Copper production rose 1 per cent to 170,400 tonnes, driven by higher throughput at Los Bronces and Collahuasi in Chile, alongside improved recoveries at Quellaveco in Peru, despite expected lower grades.
Premium iron ore output declined slightly by 2 per cent to 15.2 million tonnes, with stable performances from Kumba and Minas-Rio, located in South Africa and Brazil respectively.
Manganese ore production more than doubled to 759,100 tonnes following recovery from a cyclone-related disruption in Australia in 2024.
Among its exiting businesses, rough diamond production increased 17 per cent to 7.1 million carats, while steelmaking coal output fell 31 per cent to 1.5 million tonnes due to the impact of a 2025 incident at Moranbah North in Queensland and adverse weather.
The company continues to advance its portfolio optimisation strategy, including progressing the sale of its steelmaking coal and De Beers businesses. A sale agreement for steelmaking coal is expected in the second quarter of 2026.
Anglo American also confirmed that its planned merger with Teck Resources Limited remains on track, with completion expected between September 2026 and March 2027, pending final regulatory approvals.
“The integration planning is progressing well, ensuring that once the transaction closes, we will be well positioned to begin delivering the exceptional value and expected synergies that we have identified,” Wanblad said.
