Anglo American Holds Guidance on Teck Timetable, BHP Copper Falls 19%, Goldman Lifts Forecasts, and Ghana Targets Raw Export Ban

Anglo American Copper Output Falls 5% but 2026 Guidance Holds: First, Anglo American, which reported third-quarter production at 06:00 GMT on Tuesday. Copper output fell 5 percent to 174,900 tonnes, from 183,500 tonnes a year earlier, according to Reuters. Anglo blamed record snowfall in Chile and lower-grade stockpile ore at Collahuasi. For the first nine months, copper was down 1 percent at 519,000 tonnes. BHP Copper Output Drops 19% as Chile Disruptions Mount: Meanwhile, BHP. In its operational review for the September quarter, published October 20, BHP reported first-quarter copper production down 19 percent to 400,700 tonnes, according to Reuters. Mining.com says that missed analyst expectations. BHP kept its annual guidance. Goldman Lifts Copper Forecasts as Gold Slips for a Third Session: Next, markets. Reuters reports three-month copper on the London Metal Exchange rose 0.36 percent to 14,391 dollars a tonne by 0705 GMT. Goldman Sachs raised its end-2026 copper forecast to 14,700 dollars and its 2027 average to 15,400 dollars, citing weaker mine supply. It expects deficits outside the United States of 950,000 tonnes this year and 220,000 tonnes next year. Ghana Sets 2030 Target to End Raw Mineral Exports: Finally, resource policy in West Africa. Nairametrics reports Ghana's President John Dramani Mahama told the Mining in Motion Summit in Accra on Monday that the country plans to ban exports of unprocessed minerals by 2030. He said, "I've set a clear goal that by 2030, raw minerals should no longer leave our shores." Sources: - Anglo American Q3 2026 Production Report — Anglo American Copper Output Falls 5% but 2026 Guidance Holds: https://www.angloamerican.com/media/press-releases/2026/20-10-2026 - Reuters via Fidelity — Anglo American Copper Output Falls 5% but 2026 Guidance Holds: https://www.fidelity.com/news/article/default/202610200321RTRSNEWSCOMBINED_L1N466061_1 - BHP Operational Review, quarter ended 30 September 2026 — BHP Copper Output Drops 19% as Chile Disruptions Mount: https://www.bhp.com/news/media-centre/releases/2026/10/bhp-operational-review-for-the-quarter-ended-30-september-2026 - Mining.com — BHP Copper Output Drops 19% as Chile Disruptions Mount: https://www.mining.com/web/bhp-misses-quarterly-copper-output-estimates-on-chile-disruptions/ - Bloomberg — BHP Copper Output Drops 19% as Chile Disruptions Mount: https://www.bloomberg.com/news/articles/2026-10-19/copper-boom-belies-a-deepening-mining-recession-in-top-producer - Reuters via Fidelity (metals) — Goldman Lifts Copper Forecasts as Gold Slips for a Third Session: https://www.fidelity.com/news/article/default/202610200344RTRSNEWSCOMBINED_L1N46607A_1 - ET Now — Goldman Lifts Copper Forecasts as Gold Slips for a Third Session: https://www.etnownews.com/markets/gold-price-today-october-20-bullion-heads-for-third-straight-session-of-losses-as-stronger-dollar-higher-us-yields-weigh-article-156370192 - Reuters via Asharq Al-Awsat (gold) — Goldman Lifts Copper Forecasts as Gold Slips for a Third Session: https://english.aawsat.com/business/5329812-gold-rebounds-one-week-low-dollar-slips - Trading Economics (iron ore) — Goldman Lifts Copper Forecasts as Gold Slips for a Third Session: https://tradingeconomics.com/commodity/iron-ore - Nairametrics — Ghana Sets 2030 Target to End Raw Mineral Exports: https://nairametrics.com/2026/10/20/ghana-plans-to-ban-exports-of-unprocessed-minerals-by-2030/ - Northern Star Resources key dates — Tomorrow's Flashpoint: https://www.nsrltd.com/investors/key-dates/