A sign stands at the entrance to the offices of Anglo American Plc in the Marshalltown district of Johannesburg, South Africa, on Friday, Oct. 26, 2012. Anglo American Plc Chief Executive Officer Cynthia Carroll , the first woman, external hire and non-South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Feb 6 (Reuters) – Global miner Anglo American on Wednesday posted a 6% fall in copper production last year to 773,000 metric tons, and reduced its output forecast for rough diamonds for 2025 and 2026 on lower demand.

The London-listed miner expects 2025 copper production of 690,000-750,000 tons and 760,000-820,000 tons in 2026. The metal is used for electric vehicles and renewable infrastructure.

Its 2024 rough diamond production dropped 22% to 24.7 million carats, the lower end of its guidance. Anglo cut its production forecast for 2025 to a range of 20 million to 23 million carats, from 30 million to 33 million previously, as demand remains low and inventories high.

The miner is restructuring its business to mainly focus on energy transition metal copper, as well as iron ore, after fending off a $49 billion takeover offer from BHP Group in May.

It is looking to sell or spin off its diamond unit De Beers. CEO Duncan Wanblad said on Monday the divestment would be “substantively complete” by the end of 2025.

Anglo will post its 2024 financial results on February 20.

(Reporting by Clara Denina; Editing by Kirsten Donovan)

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