Anglo American says cost inflation, lower production and metal prices impacted its financial results in H1 2022 kitconews gold silver finance metals investing mining economics
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The company said that its nickel production decreased by 5% to 19,600 tonnes , primarily due to lower ore grades as a result of licensing delays that are now resolved, as well as the impact of heavy rainfall. "The impact of adverse weather and planned lower grades at many of our operations contributed to a 9% production decrease on a copper equivalent basis,” Anglo American said.
The company added that attributable free cash flow of $1.6 billion was driven largely by strong prices in the first quarter that declined towards the end of the period in tandem with increasing cost inflation.
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