Copper output dips at Anglo American

MINER Anglo American posted a nine per cent drop in third-quarter copper output, blaming lower grades and blizzards in Chile, but said full-year production would be above 2010, thanks to the expansion of Los Bronces.

The expansion of the flagship Los Bronces mine in Chile is on track for first production in the fourth quarter, it said, while commissioning of the Collahuasi expansion is under way.

Anglo is the latest of the majors to report lacklustre copper production, with Rio Tinto, BHP Billiton and Xstrata all reporting weaker output of the red metal and falling short of expectations.