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Home/News Feed/Anglo American cuts copper cost forecast, shares jump 5% amid merger progress

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Anglo American cuts copper cost forecast, shares jump 5% amid merger progress

Market News

23 Jul 2026

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Bullish

Anglo American PLC's shares rose 5% after it sharply reduced its copper production cost forecast, lowering the cash cost per pound from about 172 cents to 145 cents. This cost reduction is driven by lower expenses in Chile and Peru, aided by higher by-product credits and favorable currency shifts. The company is focusing on copper as its core business following its upcoming merger with Canada's Teck Resources, expected to complete between September 2026 and March 2027. Despite flat copper output and some inflationary pressures, full-year production guidance remains unchanged, while challenges persist in other divisions like De Beers and steelmaking coal.

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