Anglo American delivers strong start to 2026
(Posted on 29/04/26)
Duncan Wanblad, CEO of Anglo American, said: "We've delivered a strong start to the year across both Copper and Premium Iron Ore, tracking well to our mine plans. In Copper, the reopening of the second plant at Los Bronces has provided incremental profitable production, Collahuasi continues to progress towards higher grade ore later this year and Quellaveco's recoveries improved, helping to partially offset the expected lower grades through the first half. In Premium Iron Ore, Kumba and Minas-Rio once again delivered stable operational performances. While the conflict in the Middle East is creating considerable volatility in the broader market, our resilient supply chain is currently supporting business continuity, and we are actively managing the situation to address potential adverse effects, including cost inflation.
"We are continuing to execute our portfolio optimisation. We have resumed normal operations at Moranbah North and the sale process for Steelmaking Coal is progressing well, with expectations for a sale to be agreed in the second quarter of 2026. We are progressing the sale process for De Beers and continue to assess further cost and capital preservation measures to minimise the impact from challenging diamond markets. In Nickel, we are working through the European Commission's anti-trust approval process.
"Our merger with Teck, to form a copper-focused global critical minerals champion, is on track for an expected September 2026 to March 2027 close. We were pleased to receive regulatory approval from South Korea in the quarter, with anti-trust approval from China now the final outstanding regulatory milestone, alongside other customary closing conditions. Although we both continue to operate separately until closing, 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."
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