Diversified mining giant Anglo American said on Thursday it is confident about a "significant" step-up in production for its second half, believing it can still achieve its full-year guidance even as it trims back its capital expenditure.
The miner - whose portfolio spans coal, copper, manganese and crop nutrients - reported a 10% rise in overall production for its half-year to end-June, when its headline earnings more than halved to $1.64 billion (R28.7 billion).
Group production rose by 10% overall, boosted significantly by both copper and coal, but it faced an average fall of 19% for its basket of commodities, and it more than halved its dividend payout to $700 million (about R12.3 billion).