Anglo American announced a decrease in copper output for 2024. This drop stems from reduced production in Chile and Peru. Consequently, nickel and platinum group metals (PGMs) also saw lower volumes. SuperMetalPrice analyzes how this affects metal prices.
Copper Output Declines
Anglo American’s full-year copper output fell by 6%. Total production reached 772,700 tonnes. Chilean assets saw an 8% decrease. Los Bronces mine faced care and maintenance. Collahuasi also experienced a decline. However, El Soldado’s output increased by 22%. Peru’s Quellaveco mine saw a 4% drop. Fourth-quarter copper output decreased by 14%. This reached 197,500 tonnes. Anglo American projects lower copper output for 2025. They forecast 690,000-750,000 tonnes. Projections for 2026 and 2027 are 760,000-820,000 tonnes.
Nickel and PGM Production Trends
Nickel production fell by 2% to 39,400 tonnes. Codemin site output dropped by 13%. Barro Alto plant output increased by 2%. Fourth-quarter nickel output decreased by 10%. This reached 10,000 tonnes. Anglo American expects 37,000-39,000 tonnes in 2025. PGM production decreased by 7%. This totaled 3.55 million ounces. Refined PGM production increased by 3%. This reached 3.92 million ounces. 2025 PGM production is projected at 3 million to 3.4 million ounces.
Manganese Ore Production Impact
Manganese ore production fell by 38%. This reached 2.29 million tonnes. Australian operations halted due to cyclone damage. Reduced supply could increase metal price volatility. This affects industries relying on these metals. SuperMetalPrice reports on potential market impacts.
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