Copper shines brightest at Anglo American

Suzie Neuwirth

FTSE 100-listed miner Anglo American today unveiled a mixed production update for the second quarter, with copper output up 14 per cent and nickel down 22 per cent.

While the surge in copper production beat forecasts, iron ore production slipped by one per cent, missing expectations of a slight increase.

In contrast, both Rio Tinto and BHP Billiton posted increased iron ore production in their updates this week, in what analysts say is a move to ‘rebalance’ the market and squeeze out smaller competitors.