Anglo American raises iron ore guidance 

Anglo American saw steady performance across copper, iron ore and manganese ore in Q3 CY25 as the company continues with its portfolio simplification. 

The company says it is well positioned to meet 2025 guidance, with the miner maintaining production and unit cost guidance with the exception of the Minas-Rio iron ore project in Brazil. 

In Q3, Minas-Rio benefited from strong operational performance and a successful pipeline inspection, allowing Anglo American to increase guidance from 22-24mt to 23-25mt. 

Iron ore production for Q3 dropped 9% from Q3 CY24 primarily driven by anticipated lower production from Minas-Rio due to the successful completion of the 5-yearly pipeline inspection. 

There was strong operational momentum for copper, thanks to higher grades at both Quellaveco and Los Bronces, offsetting the current lower production phase at Collahuasi.  

Collahuasi production is expected to recover by the end of 2026. 

Steelmaking coal production was 54% lower in Q3 at 1.9mt primarily due to the incident at Moranbah North in March and the sale of Jellinbah in November 2024.  

Anglo American chief executive Duncan Wanblad says the company continue to make progress towards a safe and structured restart and ramp up at Moranbah North ahead of resuming normal operations. 

“At Grosvenor, we received approval from the regulator in August for first stage re-entry, marking a significant milestone in the recovery journey,” he said. 

“Preparations are under way to restart the formal sale process of the steelmaking coal business in the coming months.” 

Anglo American continues to progress its portfolio simplification strategy. 

“We continue to work through the regulatory approvals for the nickel transaction and, for De Beers, we are making good progress with the dual track separation and a structured sale process is currently under way,” Mr Wanblad said. 

Looking ahead, Anglo American sees its merger with Teck as the next major strategic step in accelerating growth.