By Christian Moess Laursen

Anglo American cut its diamond production guidance after a tumble in first-quarter output, offset by jumps in copper and coal production.

The diversified mining major said Tuesday that it produced 11% more copper in the quarter compared with same period a year before, at 198,000 metric tons, driven by the Quellaveco mine in Peru--one of the world's largest undeveloped copper deposits--achieving its highest throughput rate.

Steelmaking-coal production rose 7% to 3.8 million tons due to performance at the Aquila longwall and Capcoal open cut operations in Australia.

This offset a 23% tumble in diamond production to 6.9 million carat, which prompted a cut to the full-year expectation, now 26 million-29 million carat from 29 million-32 million carat previously.

The fall in output was primarily due to changes implemented to lower production in response to market inventory levels.

Elsewhere, platinum group metals fell 7% to 834,000 ounces, while nickel declined 2% to 9,500 tons.

Besides for diamonds, the London-based miner backed its production outlook for across its portfolio.

Write to Christian Moess Laursen at

(END) Dow Jones Newswires

04-23-24 0244ET