Anglo American produced 209,000 tons of copper in the third quarter of 2023, the same as in the second quarter and an increase of 42.3%. This was mainly due to higher production at the Quellaveco copper mine in Peru, while third quarter production in Chile was down 7% compared to the previous quarter.
Anglo American produced 596,000 tonnes of copper in the first three quarters of 2023, an increase of 42% over the same period last year.
Anglo American's copper production guidance for 2023 is lowered to 83-870,000 tonnes (Chile lowered to about 520,000 tonnes and Peru's guidance for 310-350,000 tonnes is unchanged). The reduction was due to lower grades of some ore in Chile, a fire at the Los Bronces substation, and the impact of geotechnical faults on El Soldado production.
Los Bronces copper mine in Chile
Los Bronces copper production in the third quarter of 2023 was 46,000 tons, down 23% sequentially and 20% year-over-year. The main reasons were the continued high hardness of the ore and the 16-day power outage at the plant facility due to a substation fire, which resulted in lower grades and production. Unfavorable ore characteristics at the current mine, including lower grades and higher ore hardness, will continue to affect operations until the next phase of mining is entered.
The cumulative copper production of Los Bronces in the first three quarters of 2023 was 158,000 tons, down 15% from the same period last year.
Collahuasi copper mine in Chile
Collahuasi copper production in the third quarter of 2023 was 66,000 tonnes, an increase of 15% quarter-on-quarter and 9% year-on-year. The increase was mainly due to planned ore grade upgrades as well as increased ore production and increased throughput following plant maintenance in the second quarter of 2023.
Collahuasi accumulated copper production of 180,000 tons in the first three quarters of 2023, a decrease of 4% year-on-year.
El Soldado copper mine in Chile
El Soldado copper production in the third quarter of 2023 was 0.97 million tons, a decrease of 29% quarter-on-quarter and an increase of 5% year-on-year. The year-on-year increase was mainly due to the improvement of ore grade, while the month-on-month decrease mainly reflected the impact of rock and soil faults on production.
In the first three quarters of 2023, El Soldado accumulated copper production of 32,000 tons, an increase of 28% year-on-year.
Quellaveco copper mine in Peru
Quellaveco's copper production in the third quarter of 2023 was 88,000 tons, an increase of 11% sequentially, reflecting the gradual increase in production from new projects as the tailings dam develops as planned.
Quellaveco produced 225,000 tons of copper in the first three quarters of 2023.
