Wrap Text
Anglo American Q2 2014 Production Report
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name JSE: Anglo
Share code JSE: AGL
Short name NSX: Anglo-AMRC NM
Share code: NSX: ANM
ISIN number: GB00B1XZS820
(the "Company")
17 July 2014
Production Report for the second quarter ended 30 June 2014
Overview
% vs. Q2 % vs. H1
Q2 2014 Q2 2013 H1 2014 H1 2013
2013 2013
Iron ore (Mt) 11.5 11.3 2% 22.8 21.6 5%
Export metallurgical coal (Mt) 4.8 4.4 10% 10.9 9.0 21%
Export thermal coal (Mt) 8.1 8.5 (5)% 16.0 15.5 4%
Copper (t)(1) 194,400 183,000 6% 396,400 353,300 12%
Nickel (t)(2) 10,600 8,500 25% 19,800 14,700 35%
Platinum (equivalent refined) (koz)(3) 358 594 (40)% 715 1,177 (39)%
Diamonds (Mct)(4) 8.5 7.9 7% 16.0 14.3 12%
• Kumba Iron Ore production increased by 2% to 11.5 million tonnes following a solid
performance at both Sishen and Kolomela. Waste removal at Sishen remained a key
operational focus during the quarter
• Export metallurgical coal production increased by 10% to 4.8 million tonnes due to productivity
improvements at open cut operations and Grasstree, partially offset by a longwall move at
Moranbah and subsequent geotechnical issues with the cutting panel
• Export thermal coal production decreased by 5% to 8.1 million tonnes primarily due to lower
production from Drayton in Australia. Production from the South African assets increased due
to improved operational performance
• Copper production increased by 6% to 194,400 tonnes, with improved production from
Los Bronces and Collahuasi due to higher throughput, partially offset by expected lower
production at El Soldado
• Nickel production increased by 25% to 10,600 tonnes driven by continued improved
operational stability at Barro Alto, prior to the planned rebuild of the furnaces commencing in
the second half of the year
• Niobium production was flat at 1,100 tonnes
• Phosphates concentrate production was flat at 349,500 tonnes. Fertiliser production
decreased by 8% due to maintenance stoppages and throughput constraints
• Platinum equivalent refined production decreased by 40% to 358,000 ounces as a result of the
industrial action at Rustenburg, Amandelbult and Union mines in South Africa. A three-year
wage agreement reached on 24 June 2014 ended the five months of industrial action
• Diamond production increased by 7% to 8.5 million carats, largely due to higher output at
Venetia following the recovery from the pit flooding in 2013
(1) Copper production from the Copper business unit
(2) Nickel production from the Nickel business unit
(3) Equivalent refined is the mines’ production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined
production using Anglo American Platinum Limited’s standard smelting and refining recoveries
(4) De Beers production on 100% basis
IRON ORE AND MANGANESE
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Iron Ore and Manganese vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Iron ore 000 t 11,465 11,278 2% 11,328 1% 22,793 21,613 5%
Manganese ore 000 t 868 864 0% 692 25% 1,561 1,668 (6)%
Manganese alloys 000 t 73 73 0% 65 12% 137 131 5%
Iron Ore – Production from Kumba Iron Ore increased by 2% to 11.5 million tonnes. The pit at
Sishen continued to be mined according to the production recovery plan, although further
unexpected rainfall during May 2014 hampered waste stripping operations. Waste removal,
however, increased by 8% compared to Q2 2013 and by 24% compared to the previous quarter.
Sishen production was 8.3 Mt for the quarter, a decrease of 3% compared to Q2 2013 and 4%
compared to the previous quarter.
Kolomela mine produced 2.9 million tonnes, a 14% increase due to a continued strong
operational performance.
Export sales increased by 1% to 10.3 million tonnes. Domestic sales increased by 21% to
1.4 million tonnes due to increased offtake by ArcelorMittal S.A.
Manganese ore – Production flat at 868,000 tonnes and 24% higher compared to the previous
quarter driven by GEMCO delivering a record Q2 as it recovered from the higher than usual
rainfall during Q1 2014.
Manganese alloy – Production of 72,500 tonnes was in line with prior year.
COAL
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Coal vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Australia & Canada
Metallurgical - Export 000 t 4,831 4,396 10% 6,053 (20)% 10,884 9,010 21%
Thermal - Export 000 t 958 1,513 (37)% 769 25% 1,728 3,007 (43)%
Thermal - Domestic 000 t 1,846 1,725 7% 1,228 50% 3,074 2,798 10%
South Africa
Thermal - Export 000 t 4,274 4,015 6% 4,149 3% 8,423 7,924 6%
Thermal - Domestic (Eskom) 000 t 8,147 8,767 (7)% 7,407 10% 15,554 16,896 (8)%
Thermal - Domestic
000 t 1,611 1,574 2% 1,360 19% 2,971 3,093 (4)%(Non-Eskom)
Colombia
Thermal - Export 000 t 2,908 3,014 (4)% 2,948 (1)% 5,856 4,526 29%
Australia and Canada – Export metallurgical coal production increased by 10% to 4.8 million
tonnes mainly due to productivity improvements from the open cut operations, most notably
Dawson. The Grasstree underground mine recorded a significant improvement in productivity,
while Moranbah experienced geotechnical issues with the commencement of the new cutting
panel following a longwall move.
Australian export thermal coal production decreased by 37% to 1.0 million tonnes due to lower
production from Drayton as the mine nears the end of its life.
South Africa – Export thermal coal production increased by 6% to 4.3 million tonnes due to
productivity improvements at Greenside, Goedehoep and Kleinkopje; however, this was partially
offset by adverse mining conditions at Zibulo.
Production to Eskom decreased by 7% to 8.1 million tonnes due to lower production from Kriel as
the current reserve base nears depletion.
Domestic non-Eskom production improved by 2% to 1.6 million tonnes primarily due to additional
production at Isibonelo.
Colombia – Cerrejón’s production decreased by 4% predominantly due to dust emission
constraints following the extended drought conditions.
BASE METALS AND MINERALS - COPPER
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Copper vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Copper t 194,400 183,000 6% 202,000 (4)% 396,400 353,300 12%
Copper – Copper production increased by 6% to 194,400 tonnes.
Production from Los Bronces increased by 4% to 106,000 tonnes, with continued throughput
improvement at both plants. H1 2014 production was 11% higher than the prior year due to
higher grade areas being mined in the period.
At Collahuasi, production increased by 42% to 53,600 tonnes due to the SAG Mill 3 shutdown in
Q2 2013 and higher grades. Higher grades reflect the current phase of mining.
El Soldado’s production decreased by 40% to 8,400 tonnes due to the previously reported
intersection with a geological fault. The geological fault delayed the development of the next
major phase of ore supply, resulting in lower ore availability and grades.
Production from Mantos Blancos and Mantoverde decreased by 11% to a total of 26,400 tonnes,
with both operations experiencing a decline in grades.
BASE METALS AND MINERALS – NICKEL, NIOBIUM AND PHOSPHATES
NICKEL
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Nickel vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Nickel t 10,600 8,500 25% 9,200 15% 19,800 14,700 35%
Nickel – Production increased by 25% to 10,600 tonnes driven by continued improved operational
stability at Barro Alto, prior to the planned rebuild of the furnaces commencing in the second half of
the year.
Production from Barro Alto increased by 41% to 8,600 tonnes, reflecting continued operational
stability as well as the impact from the Q2 2013 unplanned stoppages in both lines.
Production from Codemin decreased by 17% to 2,000 tonnes mainly due to rephasing of annual
maintenance from Q1 to Q2 2014.
NIOBIUM
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Niobium vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Niobium t 1,100 1,100 0% 1,100 0% 2,200 2,200 0%
Niobium – Production of niobium was flat at 1,100 tonnes.
PHOSPHATES
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Phosphates vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Phosphates
Concentrate t 349,500 349,900 0% 347,900 0% 697,400 697,900 0%
Phosphoric Acid t 81,300 82,100 (1)% 53,800 51% 135,100 159,600 (15)%
Fertiliser t 275,700 300,500 (8)% 267,200 3% 542,900 573,700 (5)%
Dicalcium phosphate (DCP) t 43,600 39,500 10% 31,600 38% 75,200 77,800 (3)%
Phosphates – Concentrate production was flat at 349,500 tonnes. Fertiliser production
decreased by 8% to 275,700 tonnes, owing to an extension of planned maintenance and other
corrective maintenance stoppages, throughput constraints on certain products in Catalão,
product mix change reflecting market demand and severe weather conditions causing power
shortages at Cubatão in early May.
Phosphoric acid production decreased by 1% to 81,300 tonnes and dicalcium phosphate
production increased by 10% to 43,600 tonnes, due to a 12-day plant stoppage in Cubatão in
2013.
PLATINUM
Q2 2014 Q2 2014 H1 2014
Q2 Q2 Q1 H1 H1
Platinum vs. vs. vs.
2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Refined
Platinum 000 oz 421 582 (28)% 435 (3)% 856 1,021 (16)%
Palladium 000 oz 295 320 (8)% 257 15% 551 583 (5)%
Rhodium 000 oz 49 70 (30)% 61 (20)% 109 126 (13)%
Copper (1)- Refined t 3,900 1,900 105% 3,200 22% 7,100 3,900 82%
Copper (1)- Matte t 2,300 4,100 (44)% 1,200 92% 3,500 4,100 (15)%
Nickel(1) - Refined t 5,600 3,400 65% 4,900 14% 10,500 6,700 57%
Nickel (1)- Matte t 2,700 5,400 (50)% 1,400 93% 4,100 5,400 (24)%
Gold 000 oz 27 16 64% 25 5% 52 40 32%
Equivalent refined
Platinum 000 oz 358 594 (40)% 357 0% 715 1,177 (39)%
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflects
matte sold to a third party in Q2 2013 from 2012 and 2013 production stockpile
Platinum – Equivalent refined platinum production decreased by 40% to 358,000 ounces,
primarily due to the industrial action, which began on 23 January 2014 and which affected the
Rustenburg, Amandelbult and Union mines in South Africa. The industrial action concluded on 24
June 2014. The total platinum ounces lost due to the industrial action for the second quarter was
239,000 ounces. Total lost production from the industrial action during H1 2014 was 424,000
ounces and a further 16,000 ounces has been lost during the ramp up of operations as “safe
return to work” procedures are undertaken before mining can commence. In addition, production
was 44,000 ounces lower due to the consolidation of mines at Rustenburg and Union as part of
the restructuring in 2013.
The industrial action did not impact production at the Mogalakwena and Unki mines nor at the
majority of the joint operations and associates. Mogalakwena mine’s production increased by
23% to 96,000 ounces, due to higher achieved 4E(15) head grade and increased concentrator
throughput, supported by the mining productivity improvement programmes. Unki mine
production was flat at 15,000 ounces.
Production from the joint venture and associate portfolio increased by 3% to 188,000 ounces. All
operations except Modikwa mine delivered production increases. Production at Modikwa mine
was impacted in June 2014 by Section 54 safety notices that were issued by the Department of
Mineral Resources following a fatal incident that occurred on 3 June 2014.
Refined platinum production decreased by 28% to 421,000 ounces. While the processing
operations were not directly impacted by the strike action, lower mined supply affected refined
production. A drawdown of inventory helped offset some of the shortfall.
Palladium, Rhodium and Nickel – Refined production of palladium decreased by 8%, while
refined production of rhodium decreased by 30%. This variance was due to a different source of
feed as certain mines’ supply was impacted by the industrial action and the different processing
times of the metals. Refined nickel production increased by 105% as nickel tank house
production continues to improve. Nickel and copper matte production in Q2 2013 includes
previously stockpiled nickel and copper matte delivered to third parties for processing.
DIAMONDS
Q2 2014 Q2 2014 H1 2014
Diamonds Q2 Q2 Q1 H1 H1
vs. vs. vs.
(100% basis) 2014 2013 2014 2014 2013
Q2 2013 Q1 2014 H1 2013
Diamonds 000 carats 8,515 7,931 7% 7,531 13% 16,046 14,295 12%
Diamonds – Production increased by 7% to 8.5 million carats largely due to the recovery from
the pit flooding at Venetia in 2013. At Debswana, production benefited from improved
productivity at the processing plants, together with the impact of the clean-up of the Jwaneng
slope failure in 2013. This was offset by the mining of lower grade areas at Jwaneng.
Operations in southern Africa were affected by high seasonal rainfall in Q1 2014, but recovered
in Q2 2014, supported by initiatives implemented to better cope with these conditions.
NOTE
This Production Report for the second quarter ended 30 June 2014 is unaudited.
Interim Financial Results for the six months to 30 June 2014 will be announced on 25 July 2014.
PRODUCTION SUMMARY
The figures below include the entire output of consolidated entities and the Group’s attributable
share of joint operations, associates and joint ventures where applicable, except for De Beers’
joint ventures which are quoted on a 100% basis.
Q2 2014 Q2 2014 H1 2014
H1 H1
Iron Ore (tonnes) Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
Q1 2014 Q2 2013 H1 2013
Kumba Iron Ore
Lump 6,951,600 6,979,200 6,825,200 5,614,100 6,866,400 0% 1% 13,930,800 13,056,700 7%
Fines 4,513,400 4,348,600 4,460,500 3,860,500 4,411,400 4% 2% 8,862,000 8,556,100 4%
Total Kumba
11,465,000 11,327,800 11,285,700 9,474,600 11,277,800 1% 2% 22,792,800 21,612,800 5%
production
Sishen 8,336,600 8,657,500 8,395,000 6,429,100 8,562,100 (4)% (3)% 16,994,100 16,114,400 5%
Kolomela 2,948,400 2,512,900 2,739,500 2,806,100 2,583,600 17% 14% 5,461,300 5,263,100 4%
Thabazimbi 180,000 157,400 151,200 239,400 132,100 14% 36% 337,400 235,300 43%
Total Kumba
11,465,000 11,327,800 11,285,700 9,474,600 11,277,800 1% 2% 22,792,800 21,612,800 5%
production
Kumba sales volumes
RSA export iron ore 10,287,200 9,422,700 9,530,200 9,422,400 10,178,300 9% 1% 19,709,900 20,123,500 (2)%
RSA domestic iron
1,374,000 1,414,800 1,305,700 1,312,200 1,131,500 (3)% 21% 2,788,800 2,013,500 39%
ore
Samancor
Manganese ore(1) 868,300 692,200 846,000 788,100 864,200 25% 0% 1,560,500 1,667,600 (6)%
Manganese
72,500 64,800 66,200 54,800 72,800 12% 0% 137,300 131,000 5%
alloys(1)(2)
Samancor sales
volumes
Manganese ore 854,100 833,900 837,900 766,100 793,800 2% 8% 1,688,000 1,658,100 2%
Manganese alloys 74,400 79,200 60,400 56,800 68,400 (6)% 9% 153,600 131,500 17%
Q2 2014 Q2 2014 H1 2014
H1 H1
Coal (tonnes) Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
Q1 2014 Q2 2013 H1 2013
Australia
Metallurgical –
2,917,700 3,964,000 3,133,900 3,053,000 2,663,400 (26)% 10% 6,881,700 5,524,700 25%
Export Coking
Metallurgical -
1,441,800 1,659,300 1,241,900 1,444,700 1,283,800 (13)% 12% 3,101,100 2,573,600 20%
Export PCI
4,359,500 5,623,300 4,375,800 4,497,700 3,947,200 (22)% 10% 9,982,800 8,098,300 23%
Thermal - Export 958,400 769,300 1,584,700 1,672,400 1,513,100 25% (37)% 1,727,700 3,006,900 (43)%
Thermal - Domestic 1,846,000 1,227,900 1,688,800 1,752,300 1,725,300 50% 7% 3,073,900 2,798,300 10%
2,804,400 1,997,200 3,273,500 3,424,700 3,238,400 40% (13)% 4,801,600 5,805,200 (17)%
Canada
Metallurgical -
439,200 409,200 339,300 412,500 448,500 7% (2)% 848,400 912,000 (7)%
Export Coking
Metallurgical -
32,000 20,800 18,300 1,700 - 54% - 52,800 - -
Export PCI
471,200 430,000 357,600 414,200 448,500 10% 5% 901,200 912,000 (1)%
South Africa
Thermal - Export 4,273,600 4,149,100 4,602,000 4,504,900 4,015,200 3% 6% 8,422,700 7,924,400 6%
Thermal - Domestic (8)%
8,146,800 7,406,900 7,617,800 9,053,200 8,766,600 10% (7)% 15,553,700 16,896,400
(Eskom)
Thermal - Domestic (4)%
1,611,200 1,359,500 1,234,100 1,665,300 1,573,800 19% 2% 2,970,700 3,092,600
(Other)
14,031,600 12,915,500 13,453,900 15,223,400 14,355,600 9% (2)% 26,947,100 27,913,400 (3)%
Colombia
Thermal - Export 2,907,700 2,948,200 3,290,300 3,184,900 3,014,300 (1)% (4)% 5,855,900 4,526,300 29%
2,907,700 2,948,200 3,290,300 3,184,900 3,014,300 (1)% (4)% 5,855,900 4,526,300 29%
Total Metallurgical
4,830,700 6,053,300 4,733,400 4,911,900 4,395,700 (20)% 10% 10,884,000 9,010,300 21%
coal production
Total Export Thermal
8,139,700 7,866,600 9,477,000 9,362,200 8,542,600 3% (5)% 16,007,800 15,457,600 4%
coal production
Total Domestic
Thermal coal 11,604,000 9,994,300 10,540,700 12,470,800 12,065,700 16% (4)% 21,596,900 22,787,200 (5)%
production
Total Coal production 24,574,400 23,914,200 24,751,100 26,744,900 25,004,000 3% (2)% 48,488,600 47,255,100 (3)%
Weighted average
achieved FOB prices
Australia and Canada
Metallurgical -
109 124 133 129 153 (12)% (29)% 117 151 (23)%
Export(3) US$/t
Thermal - Export
82 79 78 82 84 4% (2)% 81 87 (7)%
US$/t
Thermal - Domestic
35 40 40 39 40 (13)% (13)% 37 39 (5)%
US$/t
South Africa
Thermal - Export
73 77 76 74 76 (5)% (4)% 75 80 (6)%
US$/t
Thermal - Domestic
19 18 21 18 19 6% 0% 19 20 (5)%
US$/t
Colombia
Thermal - Export
67 68 72 70 75 (2%) (11)% 68 76 (11)%
US$/t
Sales volumes
Australia and Canada
Metallurgical -
5,152,600 5,386,200 5,182,200 4,859,000 4,667,100 (4)% 10% 10,538,800 9,003,300 17%
Export(4)
Thermal - Export 897,300 1,019,700 1,881,800 1,477,900 1,505,300 (12)% (40)% 1,917,000 3,011,900 (36)%
Thermal - Domestic 1,870,000 1,331,400 1,632,000 1,684,300 1,700,000 40% 10% 3,201,400 2,809,100 14%
South Africa
Thermal - Export 3,982,500 3,977,300 4,660,200 4,877,600 4,049,100 0% (2)% 7,959,700 7,964,000 0%
Thermal - Domestic 9,677,500 9,078,500 8,805,800 10,429,100 10,243,400 7% (6)% 18,756,100 19,809,200 (5)%
Colombia
Thermal - Export 2,858,200 2,647,200 3,067,100 3,154,800 3,157,100 8% (10)% 5,505,400 4,930,593 12%
Q2 2014 Q2 2014 H1 2014
Coal by mine H1 H1
Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
(tonnes) Q1 2014 Q2 2013 H1 2013
Australia
Callide 1,844,600 1,229,200 1,688,800 1,752,300 1,725,300 50% 7% 3,073,800 2,876,600 7%
Capcoal (incl.
1,847,500 1,904,700 1,578,800 1,606,000 1,461,100 (3)% 26% 3,752,200 2,876,600 30%
Grasstree)
Dawson 1,101,200 1,022,800 1,162,700 993,300 1,077,100 8% 2% 2,124,000 1,829,800 16%
Drayton 708,500 659,100 976,400 1,055,900 785,000 7% (10)% 1,367,600 1,678,400 (19)%
Foxleigh 471,200 432,900 421,900 541,000 475,700 9% (1)% 904,100 1,003,700 (10)%
Jellinbah 756,300 677,500 755,900 673,400 610,000 12% 24% 1,433,800 1,087,200 32%
Moranbah North 434,600 1,694,300 1,064,800 1,300,500 1,051,400 (74)% (59)% 2,128,900 2,551,200 (17)%
7,163,900 7,620,500 7,649,300 7,922,400 7,185,600 (6)% 0% 14,784,400 13,903,500 6%
Canada
Peace River Coal 471,200 430,000 357,600 414,200 448,500 10% 5% 901,200 912,000 (1)%
471,200 430,000 357,600 414,200 448,500 10% 5% 901,200 912,000 (1)%
South Africa
Goedehoop 1,177,200 1,138,400 1,228,300 1,194,600 1,143,200 3% 3% 2,315,600 2,258,000 3%
Greenside 806,500 803,500 923,700 862,800 792,500 0% 2% 1,610,000 1,483,000 9%
Isibonelo 1,329,100 1,248,900 1,139,700 1,421,700 1,259,500 6% 6% 2,578,000 2,505,400 3%
Kleinkopje 1,142,700 807,500 935,600 1,106,900 973,800 42% 17% 1,950,200 1,954,700 0%
Kriel 1,756,200 2,045,500 1,962,500 2,189,900 2,056,200 (14)% (15)% 3,801,700 3,950,300 (4)%
Landau 870,900 902,700 1,079,800 1,065,800 939,100 (4)% (7)% 1,773,600 1,938,400 (9)%
Mafube 413,500 321,800 416,200 475,400 437,000 28% (5)% 735,300 933,700 (21)%
New Denmark 1,091,800 638,800 569,200 817,100 1,203,700 71% (9)% 1,730,600 2,200,600 (21)%
New Vaal 4,321,200 3,895,000 3,905,200 4,797,300 4,321,200 11% 0% 8,216,200 8,403,300 (2)%
Zibulo 1,122,500 1,113,400 1,293,700 1,291,900 1,229,400 1% (9)% 2,235,900 2,286,000 (2)%
14,031,600 12,915,500 13,453,900 15,223,400 14,355,600 9% (2)% 26,947,100 27,913,400 (3)%
Colombia
Carbones del
2,907,700 2,948,200 3,290,300 3,184,900 3,014,300 (1)% (4)% 5,855,900 4,526,300 29%
Cerrejón
2,907,700 2,948,200 3,290,300 3,184,900 3,014,300 (1)% (4)% 5,855,900 4,526,300 29%
Total Coal
24,574,400 23,914,200 24,751,100 26,744,900 25,004,000 3% (2)% 48,488,600 47,255,100 3%
production
Q2 2014 Q2 2014 H1 2014
Copper (tonnes) unless H1 H1
(5) Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
stated otherwise 2014 2013
Q1 2014 Q2 2013 H1 2013
Collahuasi 100% basis (Anglo
American share 44%)
Ore mined 16,248,500 17,560,100 23,120,000 19,421,500 19,526,000 (7)% (17)% 33,808,600 38,414,000 (12)%
Ore processed - Oxide 1,659,900 1,700,500 1,481,600 1,594,100 2,024,300 (2)% (18)% 3,360,400 3,953,200 (15)%
Ore processed - Sulphide 13,194,500 12,060,400 14,019,700 13,467,600 9,972,800 9% 32% 25,254,900 20,071,700 26%
Ore grade processed -
(6) 0.72 0.71 0.71 0.75 0.89 1% (19)% 0.72 0.88 (19)%
Oxide (% ASCu)
Ore grade processed -
1.03 1.09 1.23 1.21 1.00 (6)% 3% 1.06 0.88 21%
Sulphide (% TCu)(7)
Production - Copper
4,400 5,300 5,500 6,900 8,400 (17)% (48)% 9,700 16,100 (40)%
cathode
Production - Copper in
117,400 113,600 141,700 137,800 77,400 3% 52% 231,000 136,600 69%
concentrate
Total copper production for
121,800 118,900 147,200 144,700 85,800 2% 42% 240,700 152,700 58%
Collahuasi
Anglo American’s share of
copper production for 53,600 52,300 64,800 63,700 37,800 2% 42% 105,900 67,100 58%
Collahuasi(8)
Anglo American Sur
(9)
Los Bronces mine
Ore mined 15,483,900 12,311,300 14,502,400 13,243,600 14,991,700 26% 3% 27,795,200 29,192,100 (5)%
Marginal ore mined 4,949,400 5,280,400 5,261,100 3,903,800 4,551,100 (6)% 9% 10,229,800 8,056,400 27%
Ore processed – Sulphide 13,911,500 13,295,100 12,940,500 13,168,200 12,960,600 5% 7% 27,206,600 25,851,900 5%
Ore grade processed -
0.81 0.88 0.87 0.83 0.81 (8)% (1)% 0.84 0.80 5%
Sulphide (% TCu)
Production - Copper
8,900 9,900 9,900 8,600 9,300 (10)% (4)% 18,800 19,300 (3)%
cathode
Production - Copper in
- - - - 200 - (100)% - 600 (100)%
sulphate
Production - Copper in
97,100 105,700 100,000 97,900 92,200 (8)% 5% 202,800 180,100 13%
concentrate
Production total 106,000 115,600 109,900 106,500 101,700 (8)% 4% 221,600 200,000 11%
El Soldado mine(9)
Ore mined 450,300 1,893,500 2,001,200 1,910,600 2,439,800 (76)% (82)% 2,343,800 4,664,900 (50)%
Ore processed - Sulphide 1,777,400 1,856,900 1,852,400 1,730,200 1,870,600 (4)% (5)% 3,634,300 3,729,800 (3)%
Ore grade processed -
0.58 0.67 0.90 0.65 0.91 (13)% (36)% 0.63 0.97 (35)%
Sulphide (% TCu)
Production - Copper
300 200 300 200 300 50% 0% 500 700 (29)%
cathode
Production - Copper in
8,100 9,700 12,300 9,200 13,600 (16)% (40)% 17,800 28,800 (38)%
concentrate
Production total 8,400 9,900 12,600 9,400 13,900 (15)% (40)% 18,300 29,500 (38)%
(9)
Chagres Smelter
Ore smelted 33,200 36,700 39,900 38,100 35,800 (10)% (7)% 69,900 71,800 (3)%
Production 32,400 35,500 38,700 36,800 34,900 (9)% (7)% 67,900 69,700 (3)%
Total copper production for
114,400 125,500 122,500 115,900 115,600 (9)% (1)% 239,900 229,500 5%
Anglo American Sur
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide 1,109,000 1,078,000 1,099,500 1,073,300 1,059,400 3% 5% 2,187,000 2,156,800 1%
Ore grade processed -
0.60 0.69 0.69 0.69 0.69 (13)% (13)% 0.62 0.61 2%
Sulphide (% ICu) (10)
Production - Copper
7,900 5,000 6,700 7,500 8,000 58% (1)% 12,900 15,300 (16)%
cathode
Production - Copper in
6,300 6,100 6,700 6,100 7,200 3% (13)% 12,400 12,300 1%
concentrate
Production total 14,200 11,100 13,400 13,600 15,200 28% (7)% 25,300 27,600 (8)%
Mantoverde mine
Ore processed - Oxide 2,566,100 2,530,500 2,473,500 2,708,500 2,544,800 1% 1% 5,096,600 5,203,200 (2)%
Ore processed - Marginal
2,189,100 2,105,200 1,729,100 2,179,000 2,235,800 4% (2)% 4,294,300 4,372,300 (2)%
ore
Ore grade processed -
0.48 0.50 0.52 0.55 0.58 (4)% (17)% 0.49 0.60 (17)%
Oxide (% ASCu )
Ore grade processed -
0.23 0.24 0.23 0.24 0.26 (1)% (10)% 0.24 0.26 (9)%
Marginal ore (% ASCu )
Production - Copper
12,200 13,100 13,600 14,100 14,400 (7)% (15)% 25,300 29,100 (13)%
cathode
Total copper production for
26,400 24,200 27,000 27,700 29,600 9% (11)% 50,600 56,700 (11)%
Anglo American Norte
Total Copper segment
262,600 268,600 296,700 288,300 231,000 (2)% 14% 531,200 438,900 21%
copper production
Total Attributable copper
(11) 194,400 202,000 214,300 207,300 183,000 (4)% 6% 396,400 353,300 12%
production
Attributable sales volumes 180,800 207,600 214,500 216,700 176,700 (13)% 2% 388,400 337,000 15%
Q2 2014 Q2 2014 H1 2014
Nickel (tonnes) unless H1 H1
Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
stated otherwise(12) 2014 2013
Q1 2014 Q2 2013 H1 2013
Barro Alto
Ore mined 736,600 354,000 321,300 885,200 510,300 108% 44% 1,090,600 792,500 38%
Ore processed 555,500 464,000 487,800 444,400 412,700 20% 35% 1,019,500 684,100 49%
Ore grade processed -
1.78 1.78 1.82 1.87 1.74 0% 2% 1.78 1.78 0%
%Ni
Production 8,600 6,900 7,800 7,100 6,100 25% 41% 15,500 10,200 52%
Codemin
Ore mined 6,800 - - - 6,800 - 0% 6,800 6,800 0%
Ore processed 140,800 147,200 151,700 157,000 157,900 (4)% (11)% 288,000 293,700 (2)%
Ore grade processed -
1.67 1.67 1.72 1.70 1.68 (0)% (1)% 1.67 1.70 (2)%
%Ni
Production 2,000 2,300 2,400 2,400 2,400 (13)% (17)% 4,300 4,500 (4)%
Total Nickel segment
10,600 9,200 10,200 9,500 8,500 15% 25% 19,800 14,700 35%
nickel production
Sales volumes 8,900 10,000 11,200 9,200 6,300 (11)% 41% 18,900 13,400 41%
Niobium Q2 2014 Q2 2014 H1 2014
H1 H1
(tonnes) unless Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
otherwise stated Q1 2014 Q2 2013 H1 2013
Niobium
Ore mined 356,200 38,500 457,100 407,500 314,500 825% 13% 394,700 364,200 8%
Ore processed 238,700 229,700 224,400 239,900 249,700 4% (4)% 468,400 498,800 (6)%
Ore grade processed
1.10 0.92 1.16 1.19 1.11 20% (1)% 1.01 1.16 (13)%
- %Nb
Production 1,100 1,100 1,200 1,100 1,100 - 0% 2,200 2,200 0%
Sales volumes 1,200 1,100 1,200 1,200 1,200 9% 0% 2,300 2,300 0%
Phosphates Q2 2014 Q2 2014 H1 2014
H1 H1
(tonnes) unless Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
otherwise stated Q1 2014 Q2 2013 H1 2013
Phosphates
Concentrate 349,500 347,900 353,400 355,000 349,900 0% - 697,400 697,900 -
Concentrate grade -
37.1 36.8 36.7 37.1 37.4 1% (1)% 37.0 37.4 (1)%
%P2O5
Phosphoric acid 81,300 53,800 78,000 79,500 82,100 51% (1)% 135,100 159,600 (15)%
Fertiliser(13) 275,700 267,200 299,000 326,300 300,500 3% (8)% 542,900 573,700 (5)%
High analysis
44,200 30,100 44,400 61,300 53,000 47% (17)% 74,300 103,600 (28)%
fertiliser
Low analysis
231,500 237,100 254,600 265,000 247,500 (2)% (6)% 468,600 470,100 -
fertiliser
Dicalcium phosphate
43,600 31,600 38,700 43,100 39,500 38% 10% 75,200 77,800 (3)%
(DCP)
Fertiliser sales
241,000 266,500 340,100 280,300 263,600 (10)% (9)% 507,500 542,900 (7)%
volumes
Q2 2014 Q2 2014 H1 2014
H1 H1
Platinum Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
Q1 2014 Q2 2013 H1 2013
Refined production
Platinum (troy oz) 420,600 435,200 692,100 666,400 581,800 (3)% (28)% 855,800 1,021,000 (16)%
Palladium (troy oz) 294,600 256,700 428,200 369,300 319,700 15% (8)% 551,300 583,300 (5)%
Rhodium (troy oz) 48,700 60,600 83,500 84,900 69,800 (20)% (30)% 109,300 126,300 (13)%
Copper refined
3,900 3,200 1,800 2,600 1,900 22% 105% 7,100 3,900 49%
(tonnes)(14)
Copper matte
2,300 1,200 1,400 300 4,100 92% (44)% 3,500 4,100 17%
(tonnes)(14)
Nickel refined
(14) 5,600 4,900 5,200 4,900 3,400 14% 65% 10,500 6,700 36%
(tonnes)
Nickel matte
2,700 1,400 100 300 5,400 93% (50)% 4,100 5,400 2%
(tonnes)(14)
Gold (troy oz) 26,700 25,400 26,700 33,700 16,300 5% 64% 52,100 39,600 32%
Equivalent refined
Platinum (troy oz) 358,200 357,000 520,300 622,600 594,500 0% (40)% 715,200 1,177,000 (39)%
4E built-up head grade
2.77 2.86 3.19 3.36 3.24 (3)% (15)% 2.82 3.25 (13)%
(g/tonne milled)(15)
Q2 2014 Q2 2014 H1 2014
H1 H1
Diamonds Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 vs. vs. vs.
2014 2013
Q1 2014 Q2 2013 H1 2013
Carats recovered
(100% basis)
Orapa 3,487,000 3,204,000 3,516,000 2,644,000 3,132,000 9% 11% 6,691,000 5,215,000 28%
Letlhakane 177,000 131,000 164,000 132,000 257,000 35% (31)% 308,000 386,000 (20)%
Damtshaa 70,000 56,000 102,000 55,000 58,000 25% 21% 126,000 107,000 18%
Jwaneng 2,532,000 2,367,000 2,575,000 2,615,000 2,922,000 7% (13)% 4,899,000 5,196,000 (6)%
Debswana 6,266,000 5,758,000 6,357,000 5,446,000 6,369,000 9% (2)% 12,024,000 10,904,000 10%
Land 199,000 137,000 148,000 161,000 137,000 45% 45% 336,000 293,000 15%
Marine 310,000 295,000 317,000 284,000 286,000 5% 8% 605,000 559,000 8%
Namdeb Holdings 509,000 432,000 465,000 445,000 423,000 18% 20% 941,000 852,000 10%
Kimberley 154,000 159,000 147,000 224,000 223,000 (3)% (31)% 313,000 444,000 (30)%
Venetia 834,000 531,000 1,403,000 891,000 258,000 57% 223% 1,365,000 898,000 52%
Voorspoed 186,000 242,000 178,000 240,000 158,000 (23)% 18% 428,000 299,000 43%
DBCM 1,174,000 932,000 1,728,000 1,355,000 639,000 26% 84% 2,106,000 1,641,000 28%
Snap Lake 379,000 268,000 397,000 315,000 328,000 41% 16% 647,000 600,000 8%
Victor 187,000 141,000 185,000 171,000 172,000 33% 9% 328,000 298,000 10%
De Beers Canada 566,000 409,000 582,000 486,000 500,000 38% 13% 975,000 898,000 9%
Total carats recovered 8,515,000 7,531,000 9,132,000 7,732,000 7,931,000 13% 7% 16,046,000 14,295,000 12%
(1) Saleable production
(2) Production includes medium carbon ferro-manganese
(3) Within export coking and export PCI coals there are different grades of coal with different weighted average prices compared to benchmark
(4) Includes both hard coking coal and PCI sales volumes
(5) Excludes Anglo American Platinum’s copper production
(6) ASCu = acid soluble copper
(7) TCu = total copper
(8) Anglo American’s share of Collahuasi production is 44%
(9) Anglo American ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur
(10) ICu = insoluble copper (total copper less acid soluble copper)
(11) Difference between total copper production and attributable copper production arises from Anglo American’s 44% interest in Collahuasi
(12) Excludes Anglo American Platinum’s nickel production
(13) 2013 fertiliser includes updated production quantification methodology in the acidulation plant at Cubatão
(14) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table,
reflect matte sold to a third party in Q2 2013 from 2012 and 2013 production stockpiles
(15) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.
Note:
Production figures are sometimes more precise than the rounded numbers shown in the
commentary of this report. The percentage change will reflect the percentage change using the
production figures shown in the Production Summary of this report.
Forward-looking statements:
This contains certain forward looking statements which involve risk and uncertainty because they
relate to events and depend on circumstances that occur in the future. There are a number of
factors that could cause actual results or developments to differ materially from those expressed
or implied by these forward looking statements.
Sponsor : UBS South Africa (Pty) Ltd
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Emily Blyth Caroline Crampton
Tel: +44 (0)20 7968 8481 Tel: +44 (0)20 7968 2192
South Africa Sarah McNally
Pranill Ramchander Tel: +44 (0)20 7968 8747
Tel: +27 (0)11 638 2592
Notes to editors:
Anglo American is one of the world’s largest mining companies, is headquartered in the UK and
listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses
meets our customers’ changing needs and spans bulk commodities – iron ore and manganese,
metallurgical coal and thermal coal; base metals and minerals – copper, nickel, niobium and
phosphates; and precious metals and minerals – in which we are a global leader in both
platinum and diamonds. At Anglo American, we are committed to working together with our
stakeholders – our investors, our partners and our employees – to create sustainable value that
makes a real difference, while upholding the highest standards of safety and responsibility
across all our businesses and geographies. The company’s mining operations, pipeline of
growth projects and exploration activities span southern Africa, South America, Australia, North
America, Asia and Europe.
www.angloamerican.com
Date: 17/07/2014 08:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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