in reporting lower profits, and said the short-term economic environment, including growth in major consumer China's economy, remained challenging.
"We have been a bit surprised by how slow the reopening of China has been and the lack of stimulus that everybody expected. The good news is the politburo in the last couple of days has indicated quite strongly that it will take some action," Chief Executive Duncan Wanblad told reporters. "What we are certain about is that there will be a recovery, what we are not certain about is the length of time that it is going to take to get from here to that recovery," Wanblad said.Anglo, however, said it is on track to deliver on 2023 production guidance, which includes a significant increase in volumes for the metals it mines during the later half of the year.
"Earnings estimates for the second half should remain broadly unchanged given no change to operational guidance while the performance is expected to improve in the second half of the year," said Citi analysts in a note.