Anglo American reports copper equivalent production decline in 2022; says profit down 48% to $4.5B

- Global mining group Anglo American reported yesterday that the impact of adverse weather and planned lower grades at many of its operations contributed to a 2% production decrease on a copper equivalent basis in 2022.

"Lower grades also impacted production at Mogalakwena and Barro Alto . The planned end of mining at the Grasstree steelmaking coal operation was partially offset by the ramp-up of the replacement Aquila longwall. De Beers increased production in line with continued strong demand for rough diamonds," it added.

Group underlying EBITDA decreased by $6.1 billion to $14.5 billion due to a decrease in the price for the Group's basket of products, lower sales volumes and higher input costs across the Group.

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