Anglo's Mixed Results Offset by Progress on Teck Merger

Anglo American reported mixed first-half results, with copper production broadly flat and diamond and coal businesses expected to post losses.

The London-listed miner produced 343,600 tons of copper in the first half, up from 342,200 tons a year earlier, but its diamonds and steelmaking coal units are projected to have negative underlying earnings due to weak demand and lower prices.

The company maintained its full-year copper production guidance of 700,000 to 760,000 metric tons. Anglo's proposed merger with Teck Resources remains on track, with Chinese approval the final regulatory hurdle.