Anglo American Maintains Copper & Iron Ore Mining Production in First Quarter

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Mining firm Anglo American said it produced 170,400 tonnes of copper and 15.2 million tonnes of iron ore in the first quarter. The company's operations remain solid while it waits for the conclusion of its merger with Teck Resources. Copper price forecasts for this year remain high.

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Copper Production Rises Slightly, Iron Ore Production Falls

U.K.-headquartered Anglo American reported copper mining output of 170,400 tonnes in the first quarter, a 1% increase compared to the same period in 2025. In contrast, iron ore production fell by 2% to 15.2 million tonnes.

According to Industrial Info Resources data, there are 72 active capital Anglo American projects across eight countries, with a total investment value of US$11.94 billion. Subscribers to the Industrial Info Resources Global Market Intelligence (GMI) Metals & Minerals Project Database can view a list of detailed project reports.

The copper production volumes were driven by higher throughput at the Collahuasi and Los Bronces mines in Chile. Los Bronces produced 48,500 tonnes, while Anglo American's attributable share of Collahuasi output reached 38,800 tonnes. These increases helped offset decreases at the Quellaveco mine in Peru, where output fell to 73,400 tonnes, marking an 8% yearly decline due to anticipated lower ore grades.

Looking ahead, the mining company expects to produce between 700,000 and 760,000 tonnes of copper this year, with 390,000 to 420,000 tonnes from its Chilean operations and 310,000 to 340,000 tonnes from Peru.

"We've delivered a strong start to the year across both copper and premium iron ore, tracking well to our mine plans. In copper, the reopening of the second plant at Los Bronces has provided incremental profitable production, Collahuasi continues to progress towards higher grade ore later this year, and Quellaveco's recoveries improved, helping to partially offset the expected lower grades through the first half," said Anglo American Chief Executive Officer Duncan Wanblad.

Iron ore output fell 2% at the company's South African Kumba operations to 8.84 million tonnes in the first quarter. Similarly, the Minas-Rio asset in Brazil produced 6.36 million tonnes, a 1% decrease.

For the year, guidance remains at 55 million to 59 million tonnes. Kumba is expected to contribute 31 million to 33 million tonnes, with Minas-Rio supplying the remainder.

Teck-Anglo Merger

Anglo American, like Teck, was optimistic about its pending merger, expecting completion between September 2026 and March 2027.

"We were pleased to receive regulatory approval from South Korea in the quarter, with anti-trust approval from China now the final outstanding regulatory milestone, alongside other customary closing conditions," Wanblad said. "Although we both continue to operate separately until closing, the integration planning is progressing well, ensuring that once the transaction closes, we will be well positioned to begin delivering the exceptional value and expected synergies that we have identified."

The merger would create one of the world's largest copper mining companies, with annual production of around 1.2 million tonnes. The combined entity would have 110 capital projects, with a total investment value of more than US$34 billion, according to Industrial Info Resources data.

Copper Prices

Copper prices remained bullish in April, despite the war between Iran and the United States/Israel, which continues to disrupt international markets and raise fears of slower growth. Nevertheless, copper's long-term demand remains supported by its role in the energy transition, such as power grids, electric vehicles, renewable energy and more.

J.P Morgan forecasted a copper price of US$13,500 per metric ton in the second quarter, dropping to US$13,000 in the third quarter and US$12,500 in the fourth.

Meanwhile, Goldman Sachs has set an average copper price forecast for 2026 at US$12,650 per metric ton.

Key Takeaways

• Anglo American produced 170,400 tonnes of copper in Q1, 1% higher year on year.
• The company expects its merger with Teck Resources to conclude between September 2026 and March 2027.
• Copper price forecasts remain high despite global instability.

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