By Jaime Llinares Taboada

Anglo American PLC on Friday downgraded its production outlook for platinum group metals, iron ore, metallurgical coal and nickel.

As part of a presentation to investors, the miner provided detailed guidance for 2021-24. Taking the mid-points of the guidance ranges provided, platinum group metals production is expected to stay at 4.3 million ounces a year until at least 2024. This represents a downgrade from previous expectations of 4.4 million ounces for both 2022 and 2023.

As for iron ore, production is expected to total 194.5 million metric tons in 2021-23, down from previous expectations of 199.5 million tons. In 2024 Anglo American expects it to rise to 67 million-71 million tons.

Meanwhile, metallurgical coal output is expected to increase more slowly than expected. The outlook for this year was reaffirmed at 15 million tons. However, the company now forecasts production to total 44 million tons over 2022 and 2023, down from 47 million tons previously. Annual coal output would then rise to 24 million-26 million tons in 2024.

Nickel guidance has been reduced to 125,000 tons in 2021-23 from the previous 134,000 tons, before reaching 42,000-44,000 tons in 2024.

Finally, copper production guidance has been narrowed down for 2022 and raised for 2023, whilst the outlook for diamonds stays unchanged.

Shares at 1138 GMT were down 0.9% at 2,946 pence.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

12-10-21 0707ET