Verified facts
Anglo American produced 174,900 tonnes of copper in the third quarter, down 5% from a year earlier. Its 20 October production report points to severe Chilean weather and lower-grade ore among the factors.
Annual copper production guidance remains 700,000 to 760,000 tonnes. Peru copper unit-cost guidance improved to about 50 US cents per pound from about 65 cents. These are forecasts, not achieved full-year results.
De Beers raised its production range to 25m–28m carats from 21m–26m. The revision reflects full ownership of Gahcho Kué: a larger reported ownership share does not itself add to global diamond supply.
Apolifina analysis
Production volume is only one component of mining earnings. Commodity prices, ore quality and operating costs affect what reaches shareholders. The De Beers change is particularly important to interpret correctly: a reporting-boundary change should not be mistaken for an equivalent improvement in customer demand.
Uncertainty and risk
Guidance depends on operating conditions and assumptions. Weather, water availability, transport constraints and commodity prices remain risks. This production update is not a complete set of financial results.
General information, not a personal recommendation. Investments can fall in value.
Primary sources
Source released and checked on 20 October 2026.