Anglo coal soars while nickel falls

Suzie Neuwirth

Mining giant Anglo American today posted mixed first quarter results, with metallurgical coal production up 23 per cent while nickel plummeted 48 per cent.

The coal increase was due to “productivity improvements” while the nickel decrease was attributed to the closure of a mine.

The FTSE 100-listed company reported a two per cent increase in iron ore production and a one per cent increase in copper output.

Meanwhile, platinum production dropped two per cent and diamond production increased three per cent.

Later today, Anglo American has its annual general meeting with new chief executive Mark Cutifani.