Anglo American Issues Production Guidance

(RTTNews) - Anglo American PLC issued capital expenditure and production guidance for the next three financial years. The company stated that, for 2023, production increased by approximately 3%; unit costs were up approximately 5%; and Capex was approximately $5.8 billion.

For 2024, the company expects: production to decrease by approximately 4%; unit costs to decrease by approximately 2%; and Capex to be approximately $5.7 billion. For 2025, the company expects: production to decrease by a further approximately 3%; and Capex of approximately $5.7 billion. For 2026, the company expects: production to increase by approximately 4%; and Capex of approximately $5.3 billion.

Duncan Wanblad, Chief Executive of Anglo American, said: "The prospects for mined products have rarely looked better. In the near term, given continuing elevated macro volatility, we are being deliberate in reducing our costs and prioritising our capital to drive more profitable production on a sustainable basis."

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