Anglo American faces sale of Chilean operations

20th Oct 2011 07:21

Anglo American, the Anglo-South African mining and minerals giant, has seen a 3% year-on-year increase in iron ore production in the third quarter of 2011.The figure has been achieved due to increased volumes from the company's operations at its Sishen mine in South Africa.Total coal production was up 5% although this masks a fall in production of metallurgical coal of 4%. Thermal coal production rose 17% although in South Africa there was a 10% decrease due to industrial action.In other operations, copper output fell by 9%, nickel increased by 14%, platinum equivalent increased by 3%, and diamonds increased by 3%.In its third quarter management statement Anglo American also says Codelco, the Chilean state owned copper company, will exercise its option to buy 49% of Anglo's "Sur" operations in the country. BS