Why Antofagasta plc, Anglo American plc and Randgold Resources Limited Should Beat The FTSE 100 Today

After a stormy start to the week, the FTSE 100 (FTSEINDICES: ^FTSE) came back a little yesterday to pick up 22 points. Today it’s gained a further 45 points in early trading to reach 6,618, but the index of top UK shares is still down more than 200 points from last week’s highs. FTSE 7,000 anyone? Probably not this week.

Today is turning out to be a good day for those who extract wealth from holes in the ground. Here are three FTSE 100 miners on the up:


We had a fourth-quarter production report from Antofagasta today, telling us of record copper production in 2013 — and it was enough to send the share price up 61p (7.4%) to 884p.

The final quarter of the year brought a 4.9% rise in copper production compared to the previous quarter, to 182,900 tonnes, taking the year’s total to 721,200 tonnes. The company saw gold production fall 6.4% in the quarter, to 63,300 ounces, due to lower grade production at its Esperanza mine. Antofagasta said it expects to produce around 700,000 tonnes of copper in 2014, along with 270,000 ounces of gold and 7,500 tonnes of molybdenum.

The share price is down around 30% over 12 months.

Anglo American

Anglo American (LSE: AAL) enjoyed a similar price rise, of 89.5p (6.7%) to 1,433p, also on the back of a Q4 update.

Iron ore production from its Kumba facility was up 25% on the same quarter a year ago, though there had been a strike in Q4 2012. Metallurgical coal exports rose by 3.7% to 4.7 million tonnes, with thermal coal output up 8% to 7.9 million tonnes. Copper rose to a record 214,400 tonnes, with Nickel up 38% to 10,200 tonnes.

The share price is currently showing a loss of around 25% over the past 12 months.

Randgold Resources

It’s not just those who produce actually useful metals who are having a good day, with Randgold Resources (LSE: RRS) (NASDAQ: GOLD.US) seeing a share price gain of 74p (1.8%) to 4,179p.

The company that extracts the shiny stuff from Sub-Saharan Africa updated us on progress at its Loulo-Gounkoto gold mining complex in Mali, with chief executive Mark Bristow saying that a strong management team of Malian nationals is helping drive up production, which should result in beating 2013’s targets. Guidance for 2014 was maintained at 640,000 ounces.

Over 12 months, Randgold shares are down just over 30%.

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Alan does not own any shares mentioned in this article.