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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