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ANGLO AMERICAN PLC - Final Interim Management Statement for Q1 2014

Release Date: 24/04/2014 08:00
Code(s): AGL     PDF:  
Wrap Text
Final Interim Management Statement for Q1 2014

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")

24 April 2014

Anglo American plc
Interim Management Statement for the first quarter ended 31 March 2014

Overview

                                              Q1 2014            Q1 2013      % vs. Q1 2013
Iron ore (Mt)                                    11.3               10.3             +10%
Export metallurgical coal (Mt)                    6.1                4.6             +31%
Export thermal coal (Mt)                          7.9                6.9             +14%
Copper (t)                                    202,000            170,500             +18%
Nickel (t)                                      9,200              6,200             +48%
Platinum (equivalent refined)(1) (koz)            357                583             (39)%
Diamonds (Mct)                                    7.5                6.4             +18%

•    Kumba Iron Ore production increased by 10% to 11.3 million tonnes, following solid
     performances at both Sishen and Kolomela. Q1 2013 was impacted by lower than planned
     production at Sishen following the unprotected strike in Q4 2012

•    Export metallurgical coal production increased by 31% to 6.1 million tonnes, a record
     quarter, primarily as a result of continuing productivity improvements

•    Export thermal coal production from South Africa increased by 6% to 4.1 million tonnes.
     Cerrejón’s production increased by 95% reflecting the strike affected Q1 2013 period

•    Copper production(2) increased by 18% to 202,000 tonnes, with improved performance from
     Los Bronces and Collahuasi, primarily the result of higher ore grades. Production guidance
     for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes (previously 700,000 -
     720,000 tonnes)
                       (3)
•    Nickel production increased by 48% to 9,200 tonnes driven by improved operational
     stability at Barro Alto

•    Niobium production was flat at 1,100 tonnes as higher recoveries were offset by lower ore
     grade

•    Phosphates concentrate production was flat at 347,900 tonnes. Fertiliser production
     decreased by 2% due to unplanned maintenance stoppage and throughput constraints
•     Platinum equivalent refined production decreased by 39% to 357,000 ounces as a result of
      the industrial action at Rustenburg, Amandelbult and Union mines in South Africa. As a
      consequence of the ongoing industrial action FY 2014 production guidance has been
      revised downwards to approximately 2.1 million ounces (previously 2.3 - 2.4 million ounces)

•     Diamond production increased by 18% to 7.5 million carats, largely due to the impact of
      planned plant maintenance at Orapa in Q1 2013 and recovery from the 2012 sidewall failure
      at Jwaneng

(1)    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
(2)    Copper production from the Copper business unit
(3)    Nickel production from the Nickel business unit




                                                                                                                                                        
IRON ORE AND MANGANESE

                                                                  Q1 2014                  Q1 2014
                                           Q1          Q1                       Q4
 Iron Ore and Manganese                                             vs.                      vs.
                                          2014        2013                     2013
                                                                  Q1 2013                  Q4 2013

 Iron ore                       000 t      11,328      10,335         10%       11,286          0%
 Manganese ore                  000 t         692         803        (14)%         846        (18)%
 Manganese alloys               000 t          65          57         13%           66         (2)%


Iron Ore – Production from Kumba Iron Ore increased by 10% to 11.3 million tonnes. Sishen
production increased by 15% to 8.7 million tonnes due to increased plant throughput and the
recovery from lower than expected production in Q1 2013 following the unprotected strike in Q4
2012. Implementation of the production recovery plan at Sishen continued during the quarter,
although this was hampered by heavy rainfall that affected waste removal. Waste removal,
however, increased by 3.4% compared to Q1 2013.

Kolomela mine produced 2.5 million tonnes, which is in line with the name plate capacity of 10
million tonnes.

Maintenance on a reclaimer at Kolomela, which suffered structural damage, affected export sales
volumes resulting in a decrease of 5% to 9.4 million tonnes.

FY 2014 production guidance for Sishen and Kolomela mines remains unchanged at 44 - 46
million tonnes.

The Minas-Rio iron ore project in Brazil continued to progress in line with the target of achieving
first ore on ship by the end of 2014 and with total capex unchanged at $8.8 billion. Activities at the
beneficiation plant, pipeline, filtration plant and port continued as planned and the project was 88%
completed at the end of Q1 2014.

Manganese ore – Production decreased by 14% to 692,200 tonnes, due to higher than usual
rainfall in Australia, which impacted feed rates and yields, and planned maintenance in South
Africa.

Manganese alloy – Production increased by 13% to 64,800 tonnes due to process optimisation
at Temco in Australia and additional capacity from the M14 furnace at Metalloys in South Africa.




                                                                                                      
COAL

                                                                 Q1 2014               Q1 2014
                                           Q1           Q1                    Q4
 Coal                                                              vs.                   vs.
                                          2014         2013                  2013
                                                                 Q1 2013               Q4 2013

 Australia & Canada
 Metallurgical - Export           000 t     6,053        4,615        31%      4,733        28%
 Thermal – Export                 000 t       769        1,494       (49)%     1,585       (51)%
 Thermal – Domestic               000 t     1,228        1,073        14%      1,689       (27)%
 South Africa
 Thermal - Export                 000 t     4,149        3,909         6%      4,602       (10)%
 Thermal - Domestic (Eskom)       000 t     7,407        8,130        (9)%     7,618        (3)%

 Thermal - Domestic (Non-Eskom)   000 t     1,360        1,519       (10)%     1,234        10%

 Colombia
 Thermal – Export                 000 t     2,948        1,512        95%      3,290       (10)%


Australia & Canada – Export metallurgical coal production increased by 31% to 6.1 million
tonnes due to record production from the underground operations, with longwall cutting hours at
Grasstree (Capcoal underground) and Moranbah improving by 63% and 33%, respectively.

Australian export thermal coal production decreased by 49% to 0.8 million tonnes, due to a
product mix change with an increase in metallurgical coal production, while lower production from
Drayton was due to the mine nearing the end of its life.

Construction work on the greenfield Grosvenor metallurgical coal project in Queensland is
nearing 50% completion. Critical engineering and procurement activities have been completed
and the majority of the project budget has been contracted and committed. Longwall production
remains scheduled to commence at the end of 2016 and within budget of $1.95 billion.

South Africa – Export thermal coal production increased by 6% to 4.1 million tonnes due to
improved operational performance at Greenside and mine ramp up at Zibulo.

Production to Eskom was 9% lower at 7.4 million tonnes due to excessive rainfall at New Vaal
and a delayed start-up post the longwall move at New Denmark.

Domestic non-Eskom production decreased by 10% to 1.4 million tonnes due to excessive
rainfall at Landau.

Colombia - Cerrejón’s production increased by 95% predominantly due to the effect of a 32 day
strike during Q1 2013.

Export metallurgical coal FY 2014 production guidance for Australia and Canada remains
unchanged at 18 - 20 million tonnes. Export thermal coal FY 2014 production guidance for South
Africa and Colombia remains unchanged at 29 - 30 million tonnes.




                                                                                                 
BASE METALS AND MINERALS - COPPER

                                                                  Q1 2014                   Q1 2014
                                            Q1          Q1                       Q4
 Copper                                                             vs.                       vs.
                                           2014        2013                     2013
                                                                  Q1 2013                   Q4 2013

 Copper                            t       202,000     170,500         18%       214,300        (6)%


Copper – Copper production increased by 19% to 202,000 tonnes. Los Bronces’ production
increased by 17% to 115,600 tonnes, with higher grades and continued throughput improvement
at both plants. Higher grades reflect adjustments to the sequencing of extraction from the mine
which sees higher grade areas being mined sooner. As the year progresses, lower grades are
expected to offset these early gains.

Collahuasi’s production increased by 78% due to continuing higher grades and the SAG Mill 3
shutdown in Q1 2013. Higher grades reflect the current phase of mining and the accelerated ore
extraction of the phase to maximise productivity. Lower grades are expected later in the year as
ore supply increases from the next phase.

Production at El Soldado decreased by 37% to 9,900 tonnes. As previously reported, the
intersection with a geological fault has delayed the development of the next major phase of ore
supply resulting in lower ore availability and grades.

The recent earthquake in the northern region of Chile had minimal impact on copper operations.

Production guidance for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes from
700,000 - 720,000 tonnes, reflecting the mining of higher grade phases at Los Bronces and
Collahuasi at the beginning of 2014.



BASE METALS AND MINERALS - NICKEL

                                                                   Q1 2014                  Q1 2014
                                             Q1          Q1                       Q4
 Nickel                                                              vs.                      vs.
                                            2014        2013                     2013
                                                                   Q1 2013                  Q4 2013

 Nickel                             t      9,200       6,200         48%        10,200       (10)%


Nickel – Production increased by 48% to 9,200 tonnes, despite a decrease in ore grades. Barro
Alto produced 6,900 tonnes of nickel, an increase of 68%, reflecting continued operational stability
as well as the impact from the Q1 2013 planned stoppage of Line 2 for the electric furnace sidewall
rebuild, followed by the metal run-out during the start-up. The first full furnace rebuild at Barro Alto
is expected to start, as planned, in late 2014.

Codemin’s production increased by 10% to 2,300 tonnes, mainly due to rephasing of annual
maintenance from Q1 to Q2 2014.

Production guidance for FY 2014 remains unchanged at 30,000 - 35,000 tonnes.




                                                                                                      
BASE METALS AND MINERALS - NIOBIUM & PHOSPHATES

                                                             Q1 2014                Q1 2014
                                        Q1         Q1                     Q4
 Niobium & Phosphates                                          vs.                    vs.
                                       2014       2013                   2013
                                                             Q1 2013                Q4 2013

 Niobium
 Production                      t        1,100     1,100          0%      1,200        (8)%
 Phosphates
 Concentrate                     t      347,900   348,000          0%    353,400        (2)%
 Phosphoric Acid                 t       53,800    77,500       (31)%     78,000       (31)%
 Fertiliser                      t      267,200   273,200        (2)%    299,000       (11)%
 Dicalcium phosphate (DCP)       t       31,600    38,300       (17)%     38,700       (18)%


Niobium – Production of niobium was flat at 1,100 tonnes as recovery and process
improvements offset lower ore grades.

Development of the Fresh Rock project to extend the life of the Boa Vista mine is ongoing,
reaching 85% completion and is expected to achieve first production during the second half of
2014.

Phosphates – Concentrate production was flat at 347,900 tonnes. Fertiliser production
decreased by 2%, owing to an unplanned maintenance stoppage and throughput constraints.
Phosphoric acid production decreased by 31% to 53,800 tonnes and DCP production decreased
by 17% to 31,600 tonnes, due to a bi-annual maintenance stoppage at Catalão.




                                                                                             
PLATINUM

                                                                                                           Q1 2014                                 Q1 2014
                                                                      Q1                  Q1                                      Q4
  Platinum                                                                                                   vs.                                     vs.
                                                                     2014                2013                                    2013
                                                                                                           Q1 2013                                 Q4 2013
  Refined
  Platinum                                          000 oz              435                 439                (1)%                692              (37)%
  Palladium                                         000 oz              257                 264                (3)%                428              (40)%
  Rhodium                                           000 oz               61                  57                 7%                  84             (27)%
             (1)
  Copper           - Refined                             t            3,200               2,000                 60%              1,800                78%
             (1)
  Copper           - Matte                               t            1,200                   -                  -               1,400              (14)%
           (1)
  Nickel         - Refined                               t            4,900               3,300                48%               5,200                (6)%
           (1)
  Nickel         - Matte                                 t            1,400                   -                  -                 100             1300%
  Gold                                              000 oz               25                  23                 9%                  27               (5)%
  Equivalent
  Platinum                                          000 oz              357                 583               (39)%                520              (31)%

(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 Q1 2014 from 2012 and 2013 production stockpile


Platinum – Equivalent refined platinum production decreased by 39% to 357,000 ounces,
primarily due to the ongoing industrial action, which began on 23 January 2014, affecting the
Rustenburg, Amandelbult and Union mines in South Africa. Total platinum ounces lost due to the
industrial action in Q1 2014 was 185,000 ounces. In addition, the impact of placing Khomanani
Mine, Khuseleka 2 shaft and Union North Mine declines on long term care and maintenance in
August 2013, resulted in a decrease in production of 43,000 ounces.

The industrial action has not impacted production at the Mogalakwena and Unki mines or the
majority of the joint operations and associates. Mogalakwena’s production increased by 3% due
to higher achieved 4E(15) built-up head grade and through the mining productivity improvement
programmes introduced during 2013. The Unki mine had record production performance,
increasing by 4%, due to improvement in volumes delivered to the concentrator and throughput
at the mills.

Production from joint operations and associates increased by 5% to 183,000 ounces due to
increased production at Kroondal and Bokoni mines, partially offset by a decrease in production
following a week-long industrial action at Modikwa mine.

Processing operations have not been affected by the industrial action. Refined platinum
production totalled 435,000 ounces, in line with production in Q1 2013. However, as mined
production reduced, total refined production was supplemented by a drawdown of pipeline
inventory. As a result, sales to both contractual and non-contractual (spot) customers have
continued at normal levels, supplemented by refined platinum stock.

Palladium, Rhodium and Nickel – Refined production of palladium decreased by 3%, while
refined production of rhodium increased by 7%. 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. Nickel production increased by 48% as production in Q1 2013 was impacted
by technical challenges and good progress was made with the ramp up of production in the
nickel tank house.

Production guidance for FY 2014 has been reduced to approximately 2.1 million ounces
(previously 2.3 - 2.4 million ounces) of equivalent refined platinum, with further downside
revisions possible as a result of the ongoing industrial action.




                                                                                                                                                                  
DIAMONDS

                                                               Q1 2014                 Q1 2014
                                         Q1          Q1                      Q4
 Diamonds                                                        vs.                     vs.
                                        2014        2013                    2013
                                                               Q1 2013                 Q4 2013

 Diamonds                 000 carats   7,531       6,364          18%      9,132        (18)%


Diamonds – Diamond production increased by 18% to 7.5 million carats due largely to
production in Q1 2013 being impacted by planned plant maintenance at Orapa and the clean-up
of the June 2012 sidewall failure in the Jwaneng pit.

Southern African operations were again hampered by heavy rainfall, resulting in lower production
than in Q4 2013. However, improved preparedness in Q1 2014 meant the impact was lower than
in Q1 2013.

Production guidance for FY 2014 remains unchanged at 30 - 32 million carats.

Please note that diamond production disclosure has increased and is now provided on a mine by
mine basis in the Production Summary table.


EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q1 2014 totalled $82 million, a decrease of 21%.

Exploration expenditure in Q1 2014 was $35 million, a decrease of $13 million, spread across all
commodities but particularly metallurgical coal and diamonds.

Evaluation expenditure for the quarter was $47 million, a decrease of 15%. Evaluation
expenditure in Q1 2014 was primarily focused on the Copper business.


NOTE
This Interim Management Statement for the first quarter ended 31 March 2014 is unaudited.

Interim Financial Results for the six months to 30 June 2014 will be announced on 25 July 2014.

This report forms Anglo American plc’s Interim Management Statement for the purpose of the UK
Listing Authority’s Disclosure and Transparency Rules.




                                                                                                 
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.

                                                                                             Q1 2014     Q1 2014
                                                                                               vs.         vs.
 Iron Ore (tonnes)          Q1 2014      Q4 2013      Q3 2013      Q2 2013      Q1 2013      Q4 2013     Q1 2013
   Kumba Iron Ore
   Lump                      6,979,200    6,825,200    5,614,100    6,866,400    6,190,300         2%         13%
   Fines                     4,348,600    4,460,500    3,860,500    4,411,400    4,144,700        (3)%         5%
 Total Kumba production     11,327,800   11,285,700    9,474,600   11,277,800   10,335,000         0%         10%
   Sishen                    8,657,500    8,395,000    6,429,100    8,562,100    7,552,300         3%         15%
   Kolomela                  2,512,900    2,739,500    2,806,100    2,583,600    2,679,500        (8)%        (6)%
   Thabazimbi                 157,400      151,200      239,400      132,100      103,200          4%         53%
 Total Kumba production     11,327,800   11,285,700    9,474,600   11,277,800   10,335,000         0%         10%

 Kumba sales volumes
   RSA export iron ore       9,422,700    9,530,200    9,422,400   10,178,300    9,945,100        (1)%        (5)%
   RSA domestic iron ore     1,414,800    1,305,700    1,312,200    1,131,500     882,000          8%         60%
 Samancor
   Manganese ore(1)           692,200      846,000      788,100      864,200      803,400        (18)%       (14)%
   Manganese alloys(1)(2)      64,800       66,200       54,800       72,800       57,300         (2)%         13%
 Samancor sales volumes
   Manganese ore              833,900      837,900      766,100      793,800      864,300          0%         (4)%
   Manganese alloys            79,200       60,400       56,800       68,400       63,100         31%         26%




                                                                                                                   
                                                                                                               Q1 2014     Q1 2014
                                                                                                                 vs.         vs.
Coal segment (tonnes)               Q1 2014        Q4 2013        Q3 2013        Q2 2013        Q1 2013        Q4 2013     Q1 2013
Australia & Canada

Australia
  Metallurgical - Export Coking      3,964,000      3,133,900      3,053,000      2,663,400      2,861,300          26%         39%
  Metallurgical - Export PCI         1,659,300      1,241,900      1,444,700      1,283,800      1,289,800          34%         29%
                                     5,623,300      4,375,800      4,497,700      3,947,200      4,151,100          29%         35%
  Thermal - Export                    769,300       1,584,700      1,672,400      1,513,100      1,493,800         (51)%       (49)%
  Thermal - Domestic                 1,227,900      1,688,800      1,752,300      1,725,300      1,073,000         (27)%        14%
                                     1,997,200      3,273,500      3,424,700      3,238,400      2,566,800         (39)%       (22)%
Canada
  Metallurgical - Export Coking       409,200         339,300        412,500        448,500        463,500           21%        (12)%
  Metallurgical - Export PCI           20,800          18,300          1,700              -              -           14%         -
                                      430,000         357,600        414,200        448,500        463,500           20%         (7)%
South Africa
 Thermal - Export                    4,149,100      4,602,000      4,504,900      4,015,200      3,909,200         (10)%         6%
 Thermal - Domestic (Eskom)          7,406,900      7,617,800      9,053,200      8,766,600      8,129,800          (3)%        (9)%
 Thermal - Domestic (Other)          1,359,500      1,234,100      1,665,300      1,573,800      1,518,800          10%        (10)%
                                    12,915,500     13,453,900     15,223,400     14,355,600     13,557,800          (4)%        (5)%
Colombia
  Thermal - Export                   2,948,200      3,290,300      3,184,900      3,014,300      1,512,000         (10)%        95%
                                     2,948,200      3,290,300      3,184,900      3,014,300      1,512,000         (10)%        95%
Total Metallurgical coal
                                     6,053,300      4,733,400      4,911,900      4,395,700      4,614,600          28%         31%
production
Total Export Thermal coal
                                     7,866,600      9,477,000      9,362,200      8,542,600      6,915,000         (17)%        14%
production
Total Domestic Thermal coal
                                     9,994,300     10,540,700     12,470,800     12,065,700     10,721,600          (5)%        (7)%
production
Total Coal production               23,914,200     24,751,100     26,744,900     25,004,000     22,251,200          (3)%         7%
Weighted average achieved
FOB prices
Australia and Canada
  Metallurgical - Export(3) US$/t         124            133            129            153            148           (7)%       (16)%
  Thermal - Export US$/t                   79             78             82             84             90            1%        (12)%
  Thermal - Domestic US$/t                 40             40             39             40             37            0%          8%
South Africa
  Thermal - Export US$/t                   77             76             74             76             83            1%         (7)%
  Thermal - Domestic US$/t                 18             21             18             19             20          (14)%       (10)%
Colombia
  Thermal - Export US$/t                   68             72             70             75             77           (6)%       (12)%
Sales volumes
Australia and Canada
  Metallurgical - Export(4)          5,386,200      5,182,200      4,859,000      4,667,100      4,336,200           4%         24%
  Thermal - Export                   1,019,700      1,881,800      1,477,900      1,505,300      1,506,600         (46)%       (32)%
  Thermal - Domestic                 1,331,400      1,632,000      1,684,300      1,700,000      1,109,100         (18)%        20%
South Africa
  Thermal - Export                   3,977,300      4,660,200      4,877,600      4,049,100      3,914,900         (15)%         2%
  Thermal - Domestic                 9,078,500      8,805,800     10,429,100     10,243,400      9,565,800           3%         (5)%
Colombia
  Thermal - Export                   2,647,200      3,067,100      3,154,800      3,157,100      1,773,500         (14)%        49%




                                                                                                                                
                                                                                               Q1 2014        Q1 2014
                                                                                                 vs.            vs.
Coal by mine (tonnes)         Q1 2014      Q4 2013      Q3 2013      Q2 2013      Q1 2013      Q4 2013        Q1 2013
Australia & Canada

Australia
  Callide                      1,229,200    1,688,800    1,752,300    1,725,300    1,151,400       (27)%            7%
  Capcoal (incl. Grasstree)    1,904,700    1,578,800    1,606,000    1,461,100    1,415,500         21%           35%
  Dawson                       1,022,800    1,162,700      993,300    1,077,100      752,600       (12)%           36%
  Drayton                       659,100       976,400    1,055,900      785,000      893,400       (32)%          (26)%
  Foxleigh                      432,900       421,900      541,000      475,700      528,000          3%          (18)%
  Jellinbah                     677,500       755,900      673,400      610,000      477,200       (10)%           42%
  Moranbah North               1,694,300    1,064,800    1,300,500    1,051,400    1,499,800         59%           13%
                               7,620,500    7,649,300    7,922,400    7,185,600    6,717,900          0%           13%
Canada
  Peace River Coal              430,000       357,600      414,200      448,500      463,500         20%           (7)%
                                430,000       357,600      414,200      448,500      463,500         20%           (7)%
South Africa
  Goedehoop                    1,138,400    1,228,300    1,194,600    1,143,200    1,114,700        (7)%            2%
  Greenside                     803,500       923,700      862,800      792,500      690,500       (13)%           16%
  Isibonelo                    1,248,900    1,139,700    1,421,700    1,259,500    1,245,900         10%            0%
  Kleinkopje                    807,500       935,600    1,106,900      973,800      980,900       (14)%          (18)%
  Kriel                        2,045,500    1,962,500    2,189,900    2,056,200    1,894,100          4%            8%
  Landau                        902,700     1,079,800    1,065,800      939,100      999,300       (16)%          (10)%
  Mafube                        321,800       416,200      475,400      437,000      496,800       (23)%          (35)%
  New Denmark                   638,800       569,200      817,100    1,203,700      996,900         12%          (36)%
  New Vaal                     3,895,000    3,905,200    4,797,300    4,321,200    4,082,000          0%           (5)%
  Zibulo                       1,113,400    1,293,700    1,291,900    1,229,400    1,056,700       (14)%             5%
                              12,915,500   13,453,900   15,223,400   14,355,600   13,557,800        (4)%           (5)%
Colombia
  Carbones del Cerrejón        2,948,200    3,290,300    3,184,900    3,014,300    1,512,000       (10%)           95%
                               2,948,200    3,290,300    3,184,900    3,014,300    1,512,000       (10)%           95%
Total Coal production         23,914,200   24,751,100   26,744,900   25,004,000   22,251,200        (3)%            7%




                                                                                                                        
                                                                                                     Q1 2014       Q1 2014
Copper segment (tonnes)
                                                                                                       vs.           vs.
unless stated otherwise(5)
                                 Q1 2014       Q4 2013       Q3 2013       Q2 2013      Q1 2013      Q4 2013       Q1 2013
Collahuasi 100% basis (Anglo
American share 44%)
  Ore mined                      17,560,100    23,120,000    19,421,500    19,526,000   18,888,000       (24)%         (7)%
  Ore processed - Oxide           1,700,500     1,481,600     1,594,100     2,024,300    1,928,800        15%         (12)%
  Ore processed - Sulphide       12,060,400    14,019,700    13,467,600     9,972,800   10,098,900       (14)%          19%
  Ore grade processed - Oxide
                                       0.71          0.71          0.75          0.89         0.86         0%         (17)%
  (% ASCu)(6)
  Ore grade processed -
                                       1.09          1.23          1.21          1.00         0.75       (11)%          45%
  Sulphide (% TCu)(7)
  Production - Copper cathode        5,300         5,500          6,900        8,400         7,700        (4)%        (31)%
  Production - Copper in
                                   113,600       141,700       137,800        77,400       59,200        (20)%          92%
  concentrate
Total copper production for
                                   118,900       147,200       144,700        85,800       66,900        (19)%          78%
Collahuasi
Anglo American’s share of
copper production for               52,300        64,800        63,700        37,800       29,400        (19)%          78%
Collahuasi(8)
Anglo American Sur
  Los Bronces mine(9)
  Ore mined                      12,311,300    14,502,400    13,243,600    14,991,700   14,200,500       (15)%        (13)%
  Marginal ore mined              5,280,400     5,261,100     3,903,800     4,551,100    3,505,300         0%           51%
  Ore processed – Sulphide       13,295,100    12,940,500    13,168,200    12,960,600   12,891,300         3%            3%
  Ore grade processed -
                                       0.88          0.87          0.83          0.81         0.80         1%           10%
  Sulphide (% TCu)
  Production - Copper cathode        9,900         9,900          8,600        9,300       10,000          0%          (1)%
  Production - Copper in
                                         -             -             -           200          400          -             -
  sulphate
  Production - Copper in
                                   105,700       100,000        97,900        92,200       88,000          6%           20%
  concentrate
  Production total                 115,600       109,900       106,500       101,700       98,400          5%           17%
  El Soldado mine(9)
  Ore mined                       1,893,500     2,001,200     1,910,600     2,439,800    2,225,100        (5)%        (15)%
  Ore processed - Sulphide        1,856,900     1,852,400     1,730,200     1,870,600    1,859,200         0%            0%
  Ore grade processed -
                                       0.67          0.90          0.65          0.91         1.03       (26)%        (35)%
  Sulphide (% TCu)
  Production - Copper cathode          200           300           200           300          400        (33)%        (50)%
  Production - Copper in
                                     9,700        12,300          9,200       13,600       15,200        (21)%        (36)%
  concentrate
  Production total                   9,900        12,600          9,400       13,900       15,600        (21)%        (37)%
  Chagres Smelter(9)
  Ore smelted                       36,700        39,900        38,100        35,800       36,000         (8)%           2%
  Production                        35,500        38,700        36,800        34,900       34,800         (8)%           2%
Total copper production for
                                   125,500       122,500       115,900       115,600      114,000          2%           10%
Anglo American Sur
Anglo American Norte
  Mantos Blancos mine
  Ore processed - Sulphide        1,078,000     1,099,500     1,073,300     1,059,400    1,097,400        (2)%         (2)%
  Ore grade processed -
                                       0.69          0.69          0.69          0.69         0.54         0%           28%
  Sulphide (% ICu) (10)
  Production - Copper cathode        5,000         6,700          7,500        8,000         7,300       (25)%        (32)%
  Production - Copper in
                                     6,100         6,700          6,100        7,200         5,100        (9)%          20%
  concentrate
  Production total                  11,100        13,400        13,600        15,200       12,400        (17)%        (10)%
  Mantoverde mine
  Ore processed - Oxide           2,530,500     2,473,500     2,708,500     2,544,800    2,658,500         2%          (5)%
  Ore processed - Marginal ore    2,105,200     1,729,100     2,179,000     2,235,800    2,136,400        22%          (1)%
  Ore grade processed - Oxide
                                       0.50          0.52          0.55          0.58         0.61        (4)%        (18)%
  (% ASCu )
  Ore grade processed -
                                       0.24          0.23          0.24          0.26         0.26         4%          (8)%
  Marginal ore (% ASCu )
  Production - Copper cathode       13,100        13,600        14,100        14,400       14,700         (4)%        (11)%
Total copper production for
                                    24,200        27,000        27,700        29,600       27,100        (10)%        (11)%
Anglo American Norte
Total Copper segment copper
                                   268,600       296,700       288,300       231,000      208,000         (9)%          29%
production
Total Attributable copper
                                   202,000       214,300       207,300       183,000      170,500         (6)%          18%
production(11)
Attributable sales volumes         207,600       214,500       216,700       176,700      160,300         (3)%          30%



                                                                                                                        
                                                                                                       Q1 2014       Q1 2014
Nickel segment (tonnes)                                                                                  vs.           vs.
unless stated otherwise(12)       Q1 2014       Q4 2013       Q3 2013       Q2 2013      Q1 2013       Q4 2013       Q1 2013
Barro Alto
  Ore mined                         354,000        321,300       885,200       510,300      282,200          10%           25%
  Ore processed                     464,000        487,800       444,400       412,700      271,400          (5)%          71%
  Ore grade processed - %Ni            1.78           1.82          1.87          1.74         1.84          (2)%         (3)%
  Production                          6,900          7,800         7,100         6,100        4,100         (12)%          68%
Codemin
  Ore mined                               -             -             -          6,800            -             -            -
  Ore processed                     147,200        151,700       157,000       157,900      135,800          (3)%          8%
  Ore grade processed - %Ni            1.67           1.72          1.70          1.68         1.72          (3)%         (3)%
  Production                          2,300          2,400         2,400         2,400        2,100          (4)%          10%
Total Nickel segment nickel
                                      9,200         10,200         9,500         8,500        6,200        (10)%           48%
production
Sales volumes                        10,000         11,200         9,200         6,300        7,100        (11)%           41%


Niobium and Phosphates                                                                                 Q1 2014       Q1 2014
segment (tonnes) unless                                                                                  vs.           vs.
otherwise stated                  Q1 2014       Q4 2013       Q3 2013       Q2 2013      Q1 2013       Q4 2013       Q1 2013
Niobium
  Ore mined                          38,500       457,100       407,500       314,500       49,700         (92)%         (23)%
  Ore processed                     229,700       224,400       239,900       249,700      249,100           2%           (8)%
  Ore grade processed - %Nb            0.92           1.16          1.19         1.11         1.22         (21)%         (25)%
  Production                          1,100         1,200         1,100         1,100        1,100          (8)%           0%
Phosphates
  Concentrate                       347,900       353,400       355,000       349,900      348,000          (2)%           0%
  Concentrate grade - %P2O5            36.8           36.7          37.1         37.4         37.4           0%           (2)%
  Phosphoric acid                    53,800        78,000        79,500        82,100       77,500         (31)%         (31)%
  Fertiliser(13)                    267,200       299,000       326,300       300,500      273,200         (11)%          (2)%
     High analysis fertiliser        30,100        44,400        61,300        53,000       50,600         (32)%         (41)%
     Low analysis fertiliser        237,100       254,600       265,000       247,500      222,600          (7)%           7%
  Dicalcium phosphate (DCP)          31,600        38,700        43,100        39,500       38,300         (18)%         (17)%


                                                                                                       Q1 2014       Q1 2014
                                                                                                         vs.           vs.
Platinum segment                  Q1 2014       Q4 2013       Q3 2013       Q2 2013      Q1 2013       Q4 2013       Q1 2013
Refined production
  Platinum (troy oz)                435,200        692,100       666,400       581,800      439,200        (37)%          (1)%
  Palladium (troy oz)               256,700        428,200       369,300       319,700      263,600        (40)%          (3)%
  Rhodium (troy oz)                  60,600         83,500        84,900        69,800       56,500        (27)%            7%
  Copper refined (tonnes)(14)         3,200          1,800         2,600         1,900        2,000          78%           60%
  Copper matte (tonnes)(14)           1,200          1,400           300         4,100            -        (14)%             -
  Nickel refined (tonnes)(14)         4,900          5,200         4,900         3,400        3,300          (6)%          48%
  Nickel matte (tonnes)(14)           1,400           100           300          5,400             -       1300%             -
  Gold (troy oz)                     25,400         26,700        33,700        16,300       23,300          (5)%            9%
Equivalent refined
Platinum (troy oz)                  357,000        520,300       622,600       594,500      583,000        (31)%           (39)%
4E built-up head grade (g/tonne
                                       2.86           3.19          3.36          3.24         3.22        (10)%           (11)%
milled)(15)




                                                                                                                           
                                                                                                                                     Q1 2014           Q1 2014
 Diamonds segment (De                                                                                                                  vs.               vs.
 Beers)                                      Q1 2014           Q4 2013          Q3 2013           Q2 2013           Q1 2013          Q4 2013           Q1 2013
 Carats recovered
 100% basis
      Orapa                                   3,204,000          3,516,000        2,644,000         3,132,000         2,083,000            (9)%            54%
      Letlhakane                                131,000            164,000          132,000           257,000           129,000           (20)%             2%
      Damtshaa                                   56,000            102,000           55,000            58,000            49,000           (45)%            14%
      Jwaneng                                 2,367,000          2,575,000        2,615,000         2,922,000         2,274,000            (8)%             4%
      Debswana                                5,758,000          6,357,000        5,446,000         6,369,000         4,535,000            (9)%            27%

                                                                   148,000          161,000           137,000           156,000             (7)%           (12)%
      Terrestrial                               137,000
      Marine                                    295,000            317,000          284,000           286,000           273,000             (7)%             8%
      Namdeb Holdings                           432,000            465,000          445,000           423,000           429,000             (7)%             1%
 
                                                                   147,000          224,000           223,000           221,000              8%            (28)%
      Kimberley                                 159,000
      Venetia                                   531,000          1,403,000          891,000           258,000           640,000           (62)%            (17)%
      Voorspoed                                 242,000            178,000          240,000           158,000           141,000             36%             72%
      DBCM                                      932,000          1,728,000        1,355,000           639,000         1,002,000           (46)%             (7)%

                                                                   397,000          315,000           328,000           272,000           (32)%             (1)%
      Snap Lake                                 268,000
      Victor                                    141,000            185,000          171,000           172,000           126,000           (24)%             12%
      De Beers Canada                           409,000            582,000          486,000           500,000           398,000           (30)%              3%
 Total carats recovered                       7,531,000          9,132,000        7,732,000         7,931,000         6,364,000           (18)%             18%




(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 Q1 2014 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.

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

 Sponsor: UBS South Africa (Pty) Ltd

 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




                                                                                              

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