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Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
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US Comfortable With Canada Trade Standoff as Import Bans Loom 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Trump to Ease U.S. Fuel-Economy Standards 
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Anglo American's Q3 Production Results
Global mining leader Anglo American reported significant declines in its third-quarter production of copper and diamonds, yet it has maintained its production guidance for 2024.
Production Declines
In the quarter from June to September, Anglo American's copper production dropped 13%, while rough diamond output saw a substantial decline of 25%. The decrease in diamond production was attributed to ongoing lower demand, leading the company's De Beers unit to consider further production cuts.
For the first nine months of 2024, copper output totaled 575,000 tons, reflecting a 4% decrease, while diamond production reached 18.9 million carats, down 21% compared to the previous year.
Future Production Guidance
Despite these declines, Anglo American remains optimistic, projecting copper production between 730,000 and 790,000 tons and rough diamond output between 23 million and 26 million carats for the year. The company is continuously evaluating the need for additional production cuts moving forward.
Strategic Restructuring
Anglo American is undergoing a restructuring process, aiming to pivot primarily toward energy transition metals, particularly copper. This shift follows a failed $49 billion takeover bid from its rival BHP Group in May, reinforcing its commitment to its new strategic focus.
