April 23, 2024 09:19 GMT
Anglo American Cuts FY Diamond Guidance
BASIC INDUSTRIES
- Q1 rough diamond production -23% YoY, mainly due to changes made to lower production in response to market inventories. Copper +11%, Steelmaking coal +7%, Iron ore flat.
- FY diamond production guidance cut from 29-32mn to 26-29mn carots. Other forecasts left in place. Unit cost guidance revised to USD 90/ct from USD 80/ct.
- EUR spreads largely muted.
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