Anglo American announced reduced diamond production guidance for 2025 and 2026 due to lower demand in China and challenging market conditions impacting its De Beers unit. The company expects a marginally negative Ebitda for De Beers in 2024, leading to analyst forecasts of downgrades. While diamond production is facing headwinds, Anglo American's copper outlook remains steady with growth anticipated in 2026.
Anglo American said it expects an impairment in De Beers ' full-year results as lower diamond demand in China and diamond market conditions hit the mining giant's diamond business."Difficult rough diamond trading conditions mean that we have reduced production guidance in 2025 and 2026 to reflect our focus on value, working capital efficiency and cash generation," Anglo chief executive Duncan Wanblad said.
"We continue to set up the copper business for growth in subsequent years with the resumption of the smaller plant at Los Bronces and through debottlenecking at Collahuasi." 2024 production resultsAnglo American's share price is up almost 7% in London's morning trade as the mining giant released its production results for the December quarter of 2024.
DIAMONDS PRODUCTION DE BEERS ANGLO AMERICAN MARKET CONDITIONS COPPER IMPAIRMENT
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