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Anglo American Platinum Cuts Full-Year Production Guidance

AAL

Anglo American Platinum Cuts Full-Year Production Guidance. JO) said Tuesday that it has reduced its full-year total platinum production guidance, citing a total of 150,000 ounces of unprofitable platinum production from its Bokoni and Maseve mines in South Africa during the quarter ended Sep. 30. The Johannesburg-listed miner has revised its guidance for the year down to between 2.30 million and 2.35 million platinum ounces, from between 2.35 million and 2.40 million ounces announced previously. Comparable production of refined platinum, meanwhile, slowed 2% during the period, to 684,100 ounces, due to additional inventory that had built-up. The company said that comparable sales volumes for the period increased 13%, to 663,600 ounces.

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TOP NEWS: Miner Anglo American Tweaks Annual Production Guidance

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Anglo American lowered full-year platinum production guidance to 2.30 million to 2.35 million ounces due to the closure of the unprofitable production at Bokoni mine, which was placed on care and maintenance in the quarter. LONDON (Alliance News) - Anglo American PLC on Tuesday reported a mixed production performance in the third quarter and tweaked production guidance for the full year as a result. Full-year production guidance for Kumba has been increased to between 42 million and 44 million tons from the previous guidance range of 41 million to 43 million tons due to improved performance at Sishen mine operations. The company's Kumba iron ore mine recorded a 2% year-on-year drop in production to 11.5 million tons.

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Anglo heading for solid production year led by diamonds, iron ore - Miningmx

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The advances are attributable to significant improvements at Kumba Iron Ore, the Johannesburg-listed firm in which Anglo has a 70% stake, and its diamond operations held in the 85%-owned De Beers. Diamond production from Canada was five-fold higher in the third quarter at some 1.1 million carats owing to Gahcho Kué’s ramp-up. Copper production would come in at the low end of previous guidance at some 570,000 tonnes while nickel production was expected to be flat year-on-year. At the other operations in the Anglo fold, coal production is likely to remain flat year-on-year despite a 100-day stoppage in the third quarter following a fatality at at Goedehoop on 3 August.

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Anglo American Reports Mixed 3Q Production; Lowers Platinum Guidance

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LN) reported Tuesday mixed production figures across its divisions, with a sharp rise in diamond output and declines in nickel and iron ore, while it also lowered full-year guidance for platinum. 30. This compares with an 8% year-on-year increase in copper-equivalent production for the second quarter of this year and a 4% rise in the same metric for the third quarter of 2016. Anglo American's production of diamonds grew 46% to 9.2 million carats. Iron-ore production stood at 15.7 million tons, down 4% on year. Iron-ore output at the Kumba subsidiary was 2% lower than in the third quarter of 2016, at 11.5 million tons, while at the Minas-Rio project in Brazil it declined 6% to 4.2 million tons.

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Anglo American Reports 6% Increase In Q3 Production On Copper Equivalent Basis

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Anglo American Reports 6% Increase In Q3 Production On Copper Equivalent Basis. L) Tuesday reported a 6 percent increase in total production on a copper equivalent basis in the third quarter of 2017, compared to the year-ago period. Iron ore production from Minas-Rio declined 6 percent from the year-ago period to 4.2 million tonnes. However, iron ore production from Kumba decreased 2 percent from last year to 11.5 million tonnes.

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Anglo American PLC (LON100:AAL) article volume is higher than usual

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Anglo American boosts overall production by 6%

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Production of thermal coal was one of Anglo's few weaker spots in the quarter. Production figures from Anglo American PLC (LON:AAL) for the third quarter of 2017 presented a broadly reassuring picture, with copper and diamond production notably up on the comparable quarter a year ago, platinum production broadly flat, and thermal coal production down. Platinum production came in at 621,000 ounces for the quarter, although guidance has been lowered following the closure of an unprofitable operation. We have further increased production guidance at Kumba Iron Ore as we continue to improve our broader productivity performance.

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Anglo American cuts platinum view 3Q output mixed

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LN) reported Tuesday mixed production figures across its divisions, with a sharp rise in diamond output and declines in nickel and iron ore, while it also lowered full-year guidance for platinum. 30. This compares with an 8% year-on-year increase in copper-equivalent production for the second quarter of this year and a 4% rise in the same metric for the third quarter of 2016. Anglo American's production of diamonds grew 46% to 9.2 million carats. Iron-ore output at the Kumba subsidiary was 2% lower than in the third quarter of 2016, at 11.5 million tons, while at the Minas-Rio project in Brazil it declined 6% to 4.2 million tons. Anglo American's copper production rose 5% to 147,300 tons, while nickel output was 1% down year on year to 11,200 tons.

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UPDATE 1-UK Stocks-Factors to watch on Oct 24

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* CARPETRIGHT: Britain's largest floor coverings retailer Carpetright said on Tuesday trading conditions in its markets had been volatile in the first half and profit for the period would be below that of the current year. * LLOYS: Lloyds Banking Group opened a 500 million pound ($658 million) fund to help British businesses finance equipment on Tuesday, targeting small and medium-sized companies which banks froze out of credit following the financial crisis. com * For Top News : topnews. > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.

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Anglo American posts higher copper and diamond output - Digitallook.com

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"We have further increased production guidance at Kumba Iron Ore as we continue to improve our broader productivity performance. Commenting on the outfit's performance, Anglo chief Mark Cutifani said: "We have delivered another strong production performance across our business. Iron ore production at Kumba on the other hand fell by 2% year-on-year to 11.5m tonnes, although guidance was upped by a further 42 to 44m tonnes, thanks to higher productivity as Sishen. Production guidance for platinum was cut to between 2.30 and 2.35m ounces after unprofitable activities at Bokoni were shuttered and placed on care and maintenance.

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Anglo production Q3 output up 6 percent output, platinum cut

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LONDON, Oct 24 (Reuters) - Anglo American on Tuesday reported a 6 percent rise in output for the third quarter and raised its guidance on iron ore for a second time, but said it had removed "unprofitable ounces" from its platinum mines. * Platinum weighed down by weak market (Adds detail, analyst comment). CEO Mark Cutifani said the reduction in platinum guidance signalled the company's determination to remove "unprofitable ounces from production as we focus on value over volume". Anglo American lowered its production guidance for platinum to 2.30-to-2.35 million from 2.35-to-2.40 million ounces following the closure of unprofitable production at the Bokoni mine, which was placed on care and maintenance in the quarter.

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Anglo American output up 6% in Q3

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com - Anglo American has reported a 6% increase in total production on a copper equivalent basis in the third quarter compared to the corresponding period last year. - Copper production increased by 5% to 147,300 tonnes, reflecting strong mine extraction and higher associated grades. CEO Mark Cutifani said the reduction in platinum guidance signalled the company’s determination to remove “unprofitable ounces from production as we focus on value over volume”. 'In Platinum, we have taken necessary steps to remove unprofitable ounces from production as we focus on value over volume.

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Anglo American: I’m no intruder for Anglo American: Anil Agarwal, Chairman, Vedanta Resources

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I have also promised work for South African companies in India. The South African government is also very supportive. I will handhold them in India. How can I leverage for India?

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Tuesday preview: Results from Anglo American, Bunzl, St James's Place and Whitbread - Digitallook.com

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Sharecast | 23 Oct, 2017 Updated : 16:30. Tuesday remains quiet for macroeconomic news but the week's major corporate results kick in with updates from Anglo American, Bunzl, St James's Place and Whitbread. UBS analysts said the update should not be a material catalyst, seeing flat production of copper over June quarter at 145kt, in line with 2017 guidance of 570-600kt. As a result he expects Premier Inn to report 2.1% revpar growth for the half, with Costa’s growth broadly unchanged at 1.1% to produce group LFL growth of 2.1% for the half. UBS was going for sales up 7.5% to £1.67bn, revpar of 3% and Costa LFL growth of 1%, feeding down to group PBT of £298m, adjusted EPS of 133.5p, and a dividend of 50p.

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Anglo Pacific on a roll as commodities move in its favour

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Anglo has royalty interests in two coal mines in Australia: Rio Tinto’s Kestrel and Whitehaven’s Narrabri. The mining royalty specialist’s results have alrady been aided by a rally in the price of coking coal and vanadium. Julian Treger, Anglo Pacific’s chief executive, said: "The Piauí royalty reflects the company's strategy of investing into earlier stage, high growth potential royalties. Initially, Anglo will pay Brazilian Nickel Limited (BRN) US$2mln for a 1% gross revenue royalty (GRR) on the Piauí nickel – cobalt project in the north-east of the country.

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