Anglo America ReportedCopper production decreased by 6% to...

Anglo America Reported
Copper production decreased by 6% to 147,000 tonnes, primarily due to a decrease of 19% in Chile, partly offset by the first production of copper in concentrate from Quellaveco in Peru.

Chile - Copper production decreased by 19% to 126,500 tonnes due to planned lower grades at all operations, and unfavourable ore characteristics and unplanned stoppages at Los Bronces.

Production from Los Bronces decreased by 29% to 56,900 tonnes, primarily due to lower ore processed as a result of the impact of increased ore hardness and unplanned stoppages, as well as planned lower grades (0.58% vs 0.70%).

At Collahuasi, attributable production decreased by 8% to 60,400 tonnes driven by planned lower grades (1.08% vs1.28%).
Production from El Soldado decreased by 21% to 9,200 tonnes due to planned lower grades (0.59% vs 0.73%).

Chile ́s central zone continues to face severe drought conditions, with the last two years up to June 2022 being the driest years since records began. While the rain and snowfall deficit decreased during the third quarter, the outlook remains very dry and these conditions place pressure on water availability in 2023.

In the short term, various management initiatives to improve water efficiency and secure alternative sources of water continue to partly mitigate the impact on production.