The company's competitive asset portfolio will support Anglo American's growth potential. Anglo American boasts a diversified mineral portfolio, maintaining leading positions in diamond and platinum group metals (PGMS) production. At the same time the firm's copper operations continue to demonstrate substantial growth and cost efficiency which will bode well for the firm in the coming years. Anglo American's Quellaveco project announced the start of commercial operations in September 2022. The project is located in southern Peru and is one of the world's largest untapped copper ore bodies, expected to produce 300,000 tonnes of copper per year over its first 10 years. This focus on copper comes as the firm restructures its portfolio with its exit from the South African thermal sector which it concluded in March 2022. The firm expects the project to ramp up fully over the next 9 -12 months. As of Q322, exploration and evaluation expenditure increased by 21% y-o-y.