Anglo lifted by copper as diamonds dip

MINING giant Anglo American yesterday posted a rise in quarterly output for its key commodities, but a dip in its diamond production, which was hit by weaker prices.

The FTSE 100 company said iron ore was up five per cent at 12.4m tonnes – fuelled by the $1bn (£636m) Kolomela mine, which reaped rewards ahead of schedule.

Improvement at its Amapa operation in Brazil helped to offset weaknesses in South Africa, the figures for the fourth quarter showed.

The Los Bronces mine, at the heart of the miner’s legal dispute with Chilean state copper producer Codelco, also contributed to the strong output figures, which mirror what is happening across the industry, with rival BHP Billiton also having seen strengthening demand.