Wrap Text
Production Report for the fourth quarter ended 31 December 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")
28 January 2015
Anglo American plc
Production Report for the fourth quarter ended 31 December 2014
Overview
Q4 2014 Q4 2013 % vs. Q4 2013
Iron ore – Kumba (Mt) 12.4 11.3 10%
Iron ore – Minas-Rio (wmt)(1) 0.7 - nm(2)
Export metallurgical coal (Mt) 4.9 4.7 4%
Export thermal coal (Mt) 9.7 9.5 2%
Copper (t)(3) (4) 174,800 214,300 (18)%
Nickel (t)(5) 6,700 10,200 (34)%
Platinum (equivalent refined) (koz)(6) 594 520 14%
Diamonds (Mct)(7) 8.4 9.1 (8)%
- Kumba Iron Ore production increased by 10% to 12.4 million tonnes following implementation of
the production recovery plan and Anglo American Operating Model at Sishen. Waste removal at
Sishen continues to be the operational focus.
- Minas-Rio achieved first ore on ship on 25 October 2014; production started in the quarter.
- Export metallurgical coal production increased by 4% to 4.9 million tonnes due to a step change
in performance at Grasstree and Q4 2013 longwall moves.
- Export thermal coal production increased by 2% to 9.7 million tonnes mainly due to increases
across Australian and South African operations.
- Copper production decreased by 18% to 174,800 tonnes, primarily as a result of the expected
grade declines at Los Bronces and Collahuasi.
- As expected, nickel production decreased by 34% to 6,700 tonnes due to the Barro Alto Line 2
furnace rebuild, which commenced in October.
- Equivalent refined platinum production increased by 14% to 593,900 ounces mainly due to
higher production at Amandelbult, Rustenburg and Union mines as Q4 2013 was impacted by
industrial action. Mogalakwena also increased production in Q4 2014 due to increased
throughput at the concentrator and mining productivity improvements.
- Diamond production decreased by 8% to 8.4 million carats compared with Q4 2013 due to
lower grades at Orapa and Venetia, combined with lower production at Snap Lake as a result of
a mandatory safety stoppage.
- Given the sharply lower commodity price environment, particularly for the bulk commodities,
Anglo American expects to record certain non-cash impairment charges as special items for the
2014 financial year. Full details will be provided when Anglo American publishes its preliminary
results for 2014 on 13 February 2015.
(1) Wet metric tonnes (wmt)
(2) Not meaningful (nm)
(3) Copper production from the Copper business unit
(4) Copper production shown on a contained metal basis
(5) Nickel production from the Nickel business unit
(6) Equivalent refined is the mines’ production and purchases of metal in concentrate, secondary metals and other metals converte d to equivalent refined
production using Anglo American Platinum’s standard smelting and refining recoveries
(7) De Beers production on 100% basis
2
IRON ORE AND MANGANESE
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Iron Ore and Manganese vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Iron ore – Kumba 000 t 12,432 11,286 10% 12,972 (4%) 48,197 42,373 14%
Iron ore – Minas-Rio(1) 000 t 688 - nm - - 688 - nm
Manganese ore 000 t 882 846 4% 866 2% 3,309 3,302 0%
Manganese alloys 000 t 80 66 21% 68 18% 286 251 14%
(1) Wet metric tonnes (wmt)
Kumba Iron Ore – Production from Kumba Iron Ore increased by 10% to 12.4 million tonnes.
Sishen produced 9.3 million tonnes for the quarter, an increase of 11%. The implementation of the
Operating Model at Sishen is already yielding results including improvements in waiting times on
shovels and total tonnes handled since June 2014. Waste removal increased by 20% to 50 million
tonnes. Total waste mined for 2014 was 187 million tonnes, up 12% compared to the prior year.
While this is below the previously announced 2014 target of 220 million tonnes, the redesign of the
western pushbacks of the pit, in conjunction with increased vertical rate of advance and current
waste removal run rates means sufficient ore has been exposed to support 2015 production target
of 36 million tonnes.
Kolomela continued its strong operational performance, producing 2.7 million tonnes, in line with
Q4 2013, but down 19% on Q3 2014 due largely to planned maintenance in the quarter.
Export sales increased by 23% to 11.7 million tonnes, due to higher production and through
utilisation of the Multi-Purpose Terminal at Saldanha port, and up 29% on Q3 2014 following the
annual Transnet maintenance shutdown in August. Domestic sales decreased by 31% to 0.9
million tonnes owing to reduced customer offtake.
Total finished product stocks were 6.5 million tonnes at year end, compared with 2.9 million
tonnes at the end of 2013 and 6.5 million tonnes as at 30 September 2014.
Iron Ore Brazil – Minas-Rio achieved first ore on ship (FOOS) on 25 October 2014. Production
started in the quarter and delivered 0.7 million wet metric tonnes.
Manganese ore – Manganese ore production increased by 4% driven by improved ore recovery
and increased plant availability in South Africa. The continued strong performance of the South
African operations resulted in record ore production for the second half of the year.
Manganese alloy – Manganese alloy production increased by 21% due to improved smelter
stability and higher furnace availability at the South African and Australian operations.
3
COAL
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Coal vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Australia & Canada
Metallurgical - Export 000 t 4,932 4,733 4% 5,090 (3)% 20,906 18,656 12%
Thermal - Export 000 t 1,872 1,585 18% 1,575 19% 5,174 6,264 (17)%
Thermal - Domestic 000 t 1,966 1,689 16% 2,074 (5)% 7,115 6,239 14%
South Africa
Thermal - Export 000 t 4,783 4,602 4% 5,008 (4)% 18,213 17,031 7%
Thermal - Domestic
000 t 7,435 7,618 (2)% 8,000 (7)% 30,989 33,567 (8)%
(Eskom)
Thermal - Domestic
000 t 1,761 1,234 43% 1,863 (5)% 6,595 5,992 10%
(Non-Eskom)
Colombia
Thermal - Export 000 t 3,002 3,290 (9)% 2,369 27% 11,227 11,001 2%
Australia and Canada – Export metallurgical coal production increased by 4% to 4.9 million
tonnes, due to a step change in performance at Grasstree following the Operating Model
implementation and Q4 2013 longwall moves. Performance at Moranbah continues to be affected
by longwall mechanical issues, which are not expected to be fully rectified until late Q3 2015.
Australian export thermal coal production increased by 18% to 1.9 million tonnes due to improved
productivity and mix at Dawson.
South Africa – Export thermal coal production increased by 4% to 4.8 million tonnes, driven by
productivity improvements across all operations and export product quality optimisation.
Production for Eskom was 2% lower at 7.4 million tonnes owing to reduced Eskom demand and
planned production declines at Kriel prior to the move to the new mining areas, offset by stabilised
production from New Denmark. Domestic non-Eskom production increased by 43% to 1.8 million
tonnes as a result of productivity improvements at Isibonelo.
Colombia – Cerrejón’s production decreased by 9% to 3.0 million tonnes, due to the ramp up in
Q4 2013 to mitigate the volumes lost in the strike in Q1 2013. Production increased by 27%
compared to Q3 2014 aided by favorable weather and a strong operational performance over the
prior quarter.
4
BASE METALS AND MINERALS – COPPER
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Copper vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Copper (1) t 174,800 214,300 (18)% 176,900 (1)% 748,100 775,000 (3)%
(1) Copper production shown on a contained metal basis
Copper – Copper production on a contained metal basis decreased by 18% to 174,800 tonnes.
Production from Los Bronces decreased by 21% to 87,200 tonnes due to the anticipated lower
grades and recoveries, as well as planned preventative maintenance which took place for 16 days
at the Los Bronces Plant 1.
At Collahuasi, attributable production decreased by 19% to 52,600 tonnes. This was due to
unplanned maintenance and expected lower grades and recoveries as production moved to a new
phase of the Rosario pit.
El Soldado production decreased by 41% to 7,400 tonnes due to expected lower grades arising
from the previously reported intersection with a geological fault.
Combined production from Mantos Blancos and Mantoverde increased by 2% to 27,600 tonnes,
with the increase in cathode production from Mantos Blancos being partially offset by the
decrease in the production from Mantoverde due to expected lower grades.
At the end of 2014, Anglo American had 164,700 tonnes of copper provisionally priced at 287 c/lb,
bringing the realised copper price for the full year to 300c/lb. The final price of these sales will be
determined in the 2015 financial year.
BASE METALS AND MINERALS – NICKEL, NIOBIUM AND PHOSPHATES
NICKEL
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Nickel vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Nickel t 6,700 10,200 (34)% 10,700 (37)% 37,200 34,400 8%
Nickel – Nickel production decreased by 34% to 6,700 tonnes, principally due to a planned
reduction at Barro Alto (down 42% to 4,500 tonnes), reflecting the Line 2 furnace rebuild, which
commenced on schedule in October. Completion of the Line 2 rebuild and commencement of the
Line 1 rebuild is expected in Q2 2015.
Production from Codemin decreased by 8% to 2,200 tonnes, driven by lower grades.
5
NIOBIUM
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Niobium vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Niobium t 1,300 1,200 8% 1,200 8% 4,700 4,500 4%
Niobium – Production of niobium increased by 8% to 1,300 tonnes due to first production in the
quarter from the now complete Boa Vista Fresh Rock project.
PHOSPHATES
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Phosphates vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Phosphates
Concentrate t 355,600 353,400 1% 362,700 (2)% 1,415,7001,406,300 1%
Phosphoric Acid t 78,600 78,000 1% 81,300 (3)% 295,000 317,100 (7)%
Fertiliser t 284,900 299,000 (5)% 284,700 0% 1,112,5001,199,000 (7)%
Dicalcium phosphate (DCP) t 44,800 38,700 16% 44,100 2% 164,100 159,600 3%
Phosphates – Concentrate production increased by 1% to 355,600 tonnes due to better
throughput from the new milling plant implemented in Q1 2014. Fertiliser production decreased by
5% to 284,900 tonnes due to acid plant maintenance activities in Q4 2014.
6
PLATINUM
Q4 2014 Q4 2014 2014
Q4 Q4 Q3 2014 2013
Platinum vs. vs. vs.
2014 2013 2014
Q4 2013 Q3 2014 2013
Refined
Platinum 000 oz 574 692 (17)% 460 25% 1,890 2,380 (21)%
Palladium 000 oz 358 428 (16)% 316 13% 1,225 1,381 (11)%
Rhodium 000 oz 72 84 (14)% 48 48% 229 295 (22)%
Copper – Refined t 2,600 1,800 44% 2,800 (7)% 12,500 8,300 51%
(1)
Copper – Matte t 1,400 1,400 0% 1,300 8% 6,200 5,800 7%
Nickel – Refined t 4,800 5,200 (8)% 5,200 (8)% 20,500 16,800 22%
Nickel – Matte(1) t 1,800 100 nm 1,800 0% 7,700 5,800 33%
Gold 000 oz 29 27 8% 15 98% 96 100 (4)%
Equivalent refined
Platinum 000 oz 594 520 14% 533 11% 1,842 2,320 (21)%
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte
Platinum – Equivalent refined platinum production increased by 14% to 593,900 ounces. Mines
affected by the strikes in 2014 were fully ramped-up by the end of Q3 and performed ahead of Q4
2013 which was impacted by a two week strike where approximately 44,000 ounces of platinum
production were lost.
Own mine and tailings retreatment platinum production increased by 22% to 380,000 ounces.
Rustenburg delivered 105,800 ounces, a 36% increase, Union increased by 24% to 42,800
ounces whilst Amandelbult mines increased by 41% to 103,300 ounces. As part of on-going
optimisation of Union, the decline shaft was successfully closed during the quarter, reducing
production by 60,000 ounces on an annualised basis.
Mogalakwena production increased by 11% to 98,100 ounces due to increased concentrator
throughput, supported by mining productivity improvement programmes. This increase included
5,300 ounces processed at the Lonmin Baobab concentrator.
The independently managed production (mined and purchased) decreased by 2% to 194,300
ounces compared with the 197,700 ounces in Q4 2013 driven mainly by lower production at
BRPM and Mototolo. BRPM production decreased by 6% to 50,500 ounces due to S54 stoppages
following two fatalities in October 2014, whilst Mototolo produced 29,500 ounces, a 10% reduction
due to operational challenges at the concentrator and lower grade. Bokoni production increased
by 11% to 27,100 ounces.
Refined platinum production decreased by 17% to 573,700 ounces, due to the replenishing of the
pipeline stock which had been drawn down on during the strikes in the first half of the year; refined
palladium and rhodium decreased for similar reasons.
7
DIAMONDS
Q4 2014 Q4 2014 2014
Diamonds Q4 Q4 Q3 2014 2013
vs. vs. vs.
(100% basis) 2014 2013 2014
Q4 2013 Q3 2014 2013
Diamonds 000 carats 8,366 9,132 (8)% 8,193 2% 32,605 31,159 5%
De Beers – Diamond production decreased by 8% to 8.4 million carats. This decrease was driven
by lower grades at Orapa and Venetia, as well as lower production at Snap Lake as a result of a
mandatory safety stoppage following a fall of ground in the quarter. These production decreases
were partially offset by increased production at Jwaneng, which benefited from improved plant
availability.
Diamond production was 2% higher than Q3 2014 due primarily to higher output at Venetia
(following plant maintenance), offset by lower grades at Jwaneng.
Production for the year to December 2014 was 32.6 million carats, a 5% increase on the previous
year, due to increased production from Debswana, with Jwaneng and Orapa both delivering
higher output as a result of improved plant performance.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q4 2014 totalled $110 million, a decrease of 34% on
prior year. Exploration expenditure was $61 million, a decrease of $2 million, mainly attributable to
nickel. Evaluation expenditure for the quarter was $49 million, down by 52%, primarily in the
Kumba Iron Ore, Coal Australia and Canada, Copper, Platinum and De Beers businesses.
NOTE
This Production Report for the fourth quarter ended 31 December 2014 is unaudited. Financial
Results for the year to 31 December 2014 will be announced on 13 February 2015.
8
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.
Q4 2014 Q4 2014
2014 vs
Iron Ore (tonnes) Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
Q3 2014 Q4 2013
Kumba Iron Ore
Lump 8,048,000 8,235,700 7,480,100 7,505,000 7,369,500 (2%) 9% 31,268,800 27,086,600 15%
Fines 4,383,600 4,736,400 3,984,900 3,822,800 3,916,200 (7%) 12% 16,927,700 15,286,500 11%
Total Kumba
12,431,600 12,972,100 11,465,000 11,327,800 11,285,700 (4%) 10% 48,196,500 42,373,100 14%
production
Sishen 9,286,300 9,260,200 8,336,600 8,657,500 8,395,000 0% 11% 35,540,600 30,938,500 15%
Kolomela 2,727,800 3,379,000 2,948,400 2,512,900 2,739,500 (19%) 0% 11,568,100 10,808,700 7%
Thabazimbi 417,500 332,900 180,000 157,400 151,200 25% 176% 1,087,800 625,900 74%
Total Kumba
12,431,600 12,972,100 11,465,000 11,327,800 11,285,700 (4%) 10% 48,196,500 42,373,100 14%
production
Kumba sales volumes
RSA export iron ore 11,699,000 9,058,800 10,287,200 9,422,700 9,530,200 29% 23% 40,467,700 39,076,000 4%
RSA domestic iron
901,800 1,129,200 1,374,000 1,414,800 1,305,700 (20%) (31%) 4,819,800 4,631,400 4%
ore
Minas-Rio
Pellet feed (wmt) 687,700 - - - - nm nm 687,700 - nm
Minas-Rio sales
volumes
Export – pellet feed
239,600 - - - - nm nm 239,600 - nm
(wmt)
Samancor
Manganese ore(1) 882,100 866,000 868,300 692,200 846,000 2% 4% 3,308,600 3,301,700 0%
Manganese alloys(1)(2) 80,400 68,400 72,500 64,800 66,200 18% 21% 286,100 251,100 14%
Samancor sales
volumes
Manganese ore 841,100 853,000 854,100 833,900 837,900 (1)% 0% 3,382,100 3,262,100 4%
Manganese alloys 72,800 68,400 74,400 79,200 60,400 6% 21% 294,800 248,700 19%
9
Q4 2014 Q4 2014
2014 vs
Coal (tonnes) Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
Q3 2014 Q4 2013
Australia
Metallurgical – Export
3,364,400 3,196,200 2,917,700 3,964,000 3,133,900 5% 7% 13,442,300 11,711,600 15%
Coking
Metallurgical - Export PCI 1,395,800 1,493,900 1,441,800 1,659,300 1,241,900 (7)% 12% 5,990,800 5,260,200 14%
4,760,200 4,690,100 4,359,500 5,623,300 4,375,800 1% 9% 19,433,100 16,971,800 15%
Thermal - Export 1,871,600 1,574,600 958,400 769,300 1,584,700 19% 18% 5,173,900 6,264,000 (17)%
Thermal - Domestic 1,966,300 2,074,400 1,846,000 1,227,900 1,688,800 (5)% 16% 7,114,600 6,239,400 14%
3,837,900 3,649,000 2,804,400 1,997,200 3,273,500 5% 17% 12,288,500 12,503,400 (2)%
Canada
Metallurgical - Export
160,200 385,000 439,200 409,200 339,300 (58)% (53)% 1,393,600 1,663,800 (16)%
Coking
Metallurgical - Export PCI 11,200 15,000 32,000 20,800 18,300 (25)% (39)% 79,000 20,000 295%
171,400 400,000 471,200 430,000 357,600 (57)% (52)% 1,472,600 1,683,800 (13)%
South Africa
Thermal - Export 4,782,800 5,007,600 4,273,600 4,149,100 4,602,000 (4)% 4% 18,213,100 17,031,300 7%
Thermal - Domestic
7,434,600 8,000,200 8,146,800 7,406,900 7,617,800 (7)% (2)% 30,988,500 33,567,400 (8)%
(Eskom)
Thermal - Domestic
1,761,400 1,862,800 1,611,200 1,359,500 1,234,100 (5)% 43% 6,594,900 5,992,000 10%
(Non-Eskom)
13,978,800 14,870,600 14,031,600 12,915,500 13,453,900 (6)% 4% 55,796,500 56,590,700 (1)%
Colombia
Thermal - Export 3,002,300 2,368,800 2,907,700 2,948,200 3,290,300 27% (9)% 11,227,000 11,001,000 2%
3,002,300 2,368,800 2,907,700 2,948,200 3,290,300 27% (9)% 11,227,000 11,001,000 2%
Total Metallurgical coal
4,931,600 5,090,100 4,830,700 6,053,300 4,733,400 (3)% 4% 20,905,700 18,655,600 12%
production
Total Export Thermal coal
9,656,700 8,951,000 8,139,700 7,866,600 9,477,000 8% 2% 34,614,000 34,296,300 1%
production
Total Domestic Thermal
11,162,300 11,937,400 11,604,000 9,994,300 10,540,700 (6)% 6% 44,698,000 45,798,800 (2)%
coal production
Total Coal production 25,750,600 25,978,500 24,574,400 23,914,200 24,751,100 (1)% 4% 100,217,700 98,750,700 1%
Weighted average achieved
US$/t FOB prices
Australia and Canada
Metallurgical - Export(3) 105 105 109 124 133 0% (21)% 111 140 (21)%
Thermal - Export 65 73 82 79 78 (11)% (17)% 72 84 (14)%
Thermal - Domestic 33 34 35 40 40 (3)% (18)% 35 39 (10)%
South Africa
Thermal - Export 63 70 73 77 76 (10)% (17)% 70 77 (10)%
Thermal - Domestic 20 19 19 18 21 5% (5)% 19 19 0%
Colombia
Thermal - Export 65 67 67 68 72 (3)% (10)% 67 73 (8)%
Sales volumes
Australia and Canada
Metallurgical - Export(4) 5,025,600 5,003,800 5,152,600 5,386,200 5,182,200 0% (3)% 20,568,200 19,044,500 8%
Thermal - Export 2,345,400 1,703,800 897,300 1,019,700 1,881,800 38% 25% 5,966,200 6,371,600 (6)%
Thermal - Domestic 1,989,400 2,102,300 1,870,000 1,331,400 1,632,000 (5)% 22% 7,293,100 6,125,400 19%
South Africa
Thermal - Export 5,139,300 4,473,700 3,982,500 3,977,300 4,660,200 15% 10% 17,572,800 17,501,800 0%
Thermal - Domestic 8,770,400 9,690,900 9,677,500 9,078,500 8,805,800 (9)% 0% 37,217,300 39,044,100 (5)%
Colombia
Thermal - Export 2,732,000 3,076,800 2,858,100 2,647,100 3,067,000 (11)% (11)% 11,314,000 11,152,000 1%
10
Q4 2014 Q4 2014
2014 vs
Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
Coal by mine (tonnes) Q3 2014 Q4 2013
Australia
Callide 2,164,700 2,318,500 1,844,600 1,229,200 1,688,800 (7)% 28% 7,557,000 6,317,800 20%
Capcoal (incl.
2,074,300 1,816,300 1,847,500 1,904,700 1,578,800 14% 31% 7,642,800 6,061,400 26%
Grasstree)
Dawson 1,074,800 1,041,400 1,101,200 1,022,800 1,162,700 3% (8)% 4,240,200 3,985,700 6%
Drayton 920,200 817,000 708,500 659,100 976,400 13% (6)% 3,104,800 3,710,700 (16)%
Foxleigh 579,200 551,200 471,200 432,900 421,900 5% 37% 2,034,500 1,966,600 3%
Jellinbah 757,100 732,800 756,300 677,500 755,900 3% - 2,923,700 2,516,500 16%
Moranbah North 1,027,800 1,061,900 434,600 1,694,300 1,064,800 (3)% (3)% 4,218,600 4,916,500 (14)%
8,598,100 8,339,100 7,163,900 7,620,500 7,649,300 3% 12% 31,721,600 29,475,200 8%
Canada
Peace River Coal 171,400 400,000 471,200 430,000 357,600 (57)% (52)% 1,472,600 1,683,800 (13)%
171,400 400,000 471,200 430,000 357,600 (57)% (52)% 1,472,600 1,683,800 (13)%
South Africa
Goedehoop 1,245,800 1,210,200 1,177,200 1,138,400 1,228,300 3% 1% 4,771,600 4,680,800 2%
Greenside 1,010,700 1,003,400 806,500 803,500 923,700 1% 9% 3,624,100 3,269,500 11%
Isibonelo 1,304,500 1,380,100 1,329,100 1,248,900 1,139,700 (5)% 14% 5,262,600 5,066,800 4%
Kleinkopje 950,200 1,011,500 1,142,700 807,400 935,600 (6)% 2% 3,911,800 3,997,200 (2)%
Kriel 1,462,400 1,614,000 1,756,200 2,045,500 1,962,500 (9)% (25)% 6,878,100 8,102,700 (15)%
Landau 1,208,800 1,195,900 870,900 902,800 1,079,800 1% 12% 4,178,400 4,084,000 2%
Mafube 414,700 525,400 413,500 321,800 416,200 (21)% - 1,675,400 1,825,400 (8)%
New Denmark 1,312,400 724,900 1,091,800 638,800 569,200 81% 131% 3,767,900 3,586,900 5%
New Vaal 3,701,400 4,755,200 4,321,200 3,895,000 3,905,200 (22)% (5)% 16,672,800 17,105,700 (3)%
Zibulo 1,367,900 1,450,000 1,122,500 1,113,400 1,293,700 (6)% 6% 5,053,800 4,871,700 4%
13,978,800 14,870,600 14,031,600 12,915,500 13,453,900 (6)% 4% 55,796,500 56,590,700 (1)%
Colombia
Carbones del 3,002,300 2,368,800 2,907,700 2,948,200 3,290,300 27% (9)% 11,227,000 11,001,000 2%
Cerrejón
3,002,300 2,368,800 2,907,700 2,948,200 3,290,300 27% (9)% 11,227,000 11,001,000 2%
Total Coal production 25,750,600 25,978,500 24,574,400 23,914,200 24,751,100 (1)% 4% 100,217,700 98,750,700 1%
11
Copper (tonnes) on a Q4 2014 Q4 2014
2014 vs
contained metal basis unless Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
stated otherwise(5) 2014 2013 2013
Q3 2014 Q4 2013
Collahuasi 100% basis (Anglo
American share 44%)
Ore mined 15,594,200 16,442,500 16,248,500 17,560,100 23,120,000 (5)% (33)% 65,845,300 80,955,500 (19)%
Ore processed - Oxide 1,552,300 1,744,800 1,659,900 1,700,500 1,481,600 (11)% 5% 6,657,500 7,028,900 (5)%
Ore processed - Sulphide 11,991,600 11,689,600 13,194,500 12,060,400 14,019,700 3% (14)% 48,936,100 47,559,000 3%
Ore grade processed -
0.68 0.78 0.72 0.71 0.71 (13)% (4)% 0.72 0.81 (11)%
Oxide (% ASCu)(6)
Ore grade processed -
1.10 1.12 1.03 1.09 1.23 (2)% (11)% 1.08 1.07 1%
Sulphide (% TCu)(7)
Production - Copper
9,100 6,200 4,400 5,300 5,500 47% 65% 25,000 28,400 (12)%
cathode
Production - Copper in
110,400 104,000 117,400 113,600 141,700 6% (22)% 445,400 416,100 7%
concentrate
Total copper production for
119,500 110,200 121,800 118,900 147,200 8% (19)% 470,400 444,500 6%
Collahuasi
Anglo American’s share of
copper production for 52,600 48,500 53,600 52,300 64,800 8% (19)% 207,000 195,600 6%
Collahuasi(8)
Anglo American Sur
Los Bronces mine(9)
Ore mined 15,655,600 14,215,400 15,483,900 12,311,300 14,502,400 10% 8% 57,666,200 56,938,200 1%
Marginal ore mined 8,993,400 7,012,900 4,949,400 5,280,400 5,261,100 28% 71% 26,236,100 17,221,300 52%
Ore processed – Sulphide 12,739,000 14,202,100 13,911,500 13,295,100 12,940,500 (10)% (2)% 54,147,700 51,960,500 4%
Ore grade processed -
0.75 0.71 0.81 0.88 0.87 5% (14)% 0.78 0.83 (5)%
Sulphide (% TCu)
Production - Copper
8,300 9,100 8,900 9,900 9,900 (9)% (16)% 36,200 37,800 (4)%
cathode
Production - Copper in
- - - - - - - - 600 -
sulphate
Production - Copper in
concentrate 78,900 86,600 97,100 105,700 100,000 (9)% (21)% 368,300 378,000 (3)%
Production total 87,200 95,700 106,000 115,600 109,900 (9)% (21)% 404,500 416,400 (3)%
El Soldado mine(9)
Ore mined 563,900 210,700 450,300 1,893,500 2,001,200 168% (72)% 3,118,400 8,576,700 (64)%
Ore processed - Sulphide 1,762,700 1,806,600 1,777,400 1,856,900 1,852,400 (2)% (5)% 7,203,600 7,312,500 (1)%
Ore grade processed -
0.55 0.53 0.58 0.67 0.9 5% (38)% 0.58 0.88 (33)%
Sulphide (% TCu)
Production - Copper
400 300 300 200 300 33% 33% 1,200 1,200 0%
cathode
Production - Copper in
7,000 6,400 8,100 9,700 12,300 9% (43)% 31,200 50,400 (38)%
concentrate
Production total 7,400 6,700 8,400 9,900 12,600 10% (41)% 32,400 51,600 (37)%
(9)
Chagres Smelter
Ore smelted 28,900 33,300 33,200 36,700 39,900 (13)% (28)% 132,100 149,800 (12)%
Production 28,300 32,300 32,400 35,500 38,700 (12)% (27)% 128,500 145,200 (12)%
Total copper production for
94,600 102,400 114,400 125,500 122,500 (8)% (23)% 436,900 468,000 (7)%
Anglo American Sur
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide 1,059,300 1,156,100 1,109,000 1,078,000 1,099,500 (8)% (4)% 4,402,400 4,329,600 2%
Ore grade processed -
0.75 0.68 0.64 0.69 0.74 10% 1% 0.69 0.73 (5)%
Sulphide (% TCu)
Production - Copper
7,300 6,500 7,900 5,000 6,700 12% 9% 26,700 29,500 (9)%
cathode
Production - Copper in
6,800 6,500 6,300 6,100 6,700 5% 1% 25,700 25,100 2%
concentrate
Production total 14,100 13,000 14,200 11,100 13,400 8% 5% 52,400 54,600 (4)%
Mantoverde mine
Ore processed - Oxide 2,582,100 2,634,100 2,566,100 2,530,500 2,473,500 (2)% 4% 10,312,800 10,385,200 (1)%
Ore processed - Marginal
2,274,500 2,077,300 2,189,100 2,105,200 1,729,100 9% 32% 8,646,100 8,280,400 4%
ore
Ore grade processed -
0.49 0.47 0.48 0.5 0.52 3% (7)% 0.48 0.57 (14)%
Oxide (% ASCu)
Ore grade processed -
0.23 0.23 0.23 0.24 0.23 (2)% (2)% 0.23 0.25 (7)%
Marginal ore (% ASCu)
Production - Copper
13,500 13,000 12,200 13,100 13,600 4% (1)% 51,800 56,800 (9)%
cathode
Total copper production for
27,600 26,000 26,400 24,200 27,000 6% 2% 104,200 111,400 (6)%
Anglo American Norte
Total Copper segment
241,700 238,600 262,600 268,600 296,700 1% (19)% 1,011,500 1,023,900 (1)%
copper production
Total Attributable copper
174,800 176,900 194,400 202,000 214,300 (1)% (18)% 748,100 775,000 (3)%
production(10)
Total Attributable payable
169,700 171,700 186,600 197,900 208,000 (1)% (18)% 725,900 752,100 (3)%
copper production
Total Attributable sales
187,400 179,300 180,800 207,600 214,500 5% (13)% 755,100 768,200 (2)%
volumes
Total Attributable payable
181,700 173,900 175,400 201,600 207,900 5% (13)% 732,600 745,400 (2)%
sales volumes
12
Nickel (tonnes) Q4 2014 Q4 2014
2014 vs
unless stated Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
otherwise(11) Q3 2014 Q4 2013
Barro Alto
Ore mined 400,500 1,019,300 736,600 354,000 321,300 (61)% 25% 2,510,400 1,998,900 26%
Ore processed 276,000 531,900 555,500 464,000 487,800 (48)% (43)% 1,827,400 1,616,300 13%
Ore grade
1.86 1.86 1.78 1.78 1.82 0% 2% 1.81 1.82 (1)%
processed - %Ni
Production 4,500 8,300 8,600 6,900 7,800 (46)% (42)% 28,300 25,100 13%
Codemin
Ore mined - - 6,800 - - 0% 0% 6,800 6,800 0%
Ore processed 151,500 154,100 140,800 147,200 151,700 (2)% 0% 593,600 602,400 (1)%
Ore grade
1.66 1.67 1.67 1.67 1.72 (1)% (3)% 1.67 1.71 (2)%
processed - %Ni
Production 2,200 2,400 2,000 2,300 2,400 (8)% (8)% 8,900 9,300 (4)%
Total Nickel segment
6,700 10,700 10,600 9,200 10,200 (37)% (34)% 37,200 34,400 8%
nickel production
Sales volumes 8,400 8,800 8,900 10,000 11,200 (5)% (25)% 36,100 33,800 7%
Niobium Q4 2014 Q4 2014
2014 vs
(tonnes) unless Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
otherwise stated Q3 2014 Q4 2013
Niobium
Ore mined 166,300 424,900 356,200 38,500 457,100 (61)% (64)% 985,900 1,228,800 (20)%
Ore processed 377,700 237,900 238,700 229,700 224,400 59% 68% 1,084,000 963,100 13%
Ore grade
1.05 1.08 1.10 0.92 1.16 (3)% (9)% 1.04 1.17 (11)%
processed - %Nb
Production 1,300 1,200 1,100 1,100 1,200 8% 8% 4,700 4,500 4%
Sales volumes 1,100 1,200 1,200 1,100 1,200 (8)% (8)% 4,600 4,700 (2)%
Phosphates Q4 2014 Q4 2014
2014 vs
(tonnes) unless Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
otherwise stated Q3 2014 Q4 2013
Phosphates
Concentrate 355,600 362,700 349,500 347,900 353,400 (2)% 1% 1,415,700 1,406,300 1%
Concentrate grade
36.8 37.3 37.1 36.8 36.7 (1)% 0% 37.0 37.2 (1)%
- %P2O5
Phosphoric acid 78,600 81,300 81,300 53,800 78,000 (3)% 1% 295,000 317,100 (7)%
Fertiliser(12) 284,900 284,700 275,700 267,200 299,000 0% (5)% 1,112,500 1,199,000 (7)%
High analysis
50,200 60,200 44,200 30,100 44,400 (17)% 13% 184,700 209,400 (12)%
fertiliser
Low analysis
234,600 224,500 231,500 237,100 254,600 4% (8)% 927,700 989,700 (6)%
fertiliser
Dicalcium
44,800 44,100 43,600 31,600 38,700 2% 16% 164,100 159,600 3%
phosphate (DCP)
Fertiliser sales
277,400 311,700 241,000 266,500 340,100 (11)% (18)% 1,096,600 1,163,300 (6)%
volumes
Q4 2014 Q4 2014
2014 vs
Platinum Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs.
2014 2013 2013
Q3 2014 Q4 2013
Refined production
Platinum (troy oz) 573,700 460,000 420,600 435,200 692,100 25% (17)% 1,889,500 2,379,500 (21)%
Palladium (troy oz) 357,700 316,400 294,600 256,700 428,200 13% (16)% 1,225,400 1,380,800 (11)%
Rhodium (troy oz) 71,700 48,400 48,700 60,600 83,500 48% (14)% 229,400 294,700 (22)%
Copper refined
2,600 2,800 3,900 3,200 1,800 (7)% 44% 12,500 8,300 51%
(tonnes)(13)
Copper matte
1,400 1,300 2,300 1,200 1,400 8% 0% 6,200 5,800 7%
(tonnes)(13)
Nickel refined
4,800 5,200 5,600 4,900 5,200 (8)% (8)% 20,500 16,800 22%
(tonnes)(13)
Nickel matte
1,800 1,800 2,700 1,400 100 0% - 7,700 5,800 33%
(tonnes)(13)
Gold (troy oz) 28,900 14,600 26,700 25,400 26,700 98% 8% 95,600 100,000 (4)%
Equivalent refined
Platinum (troy oz) 593,900 532,800 358,200 357,000 520,300 11% 14% 1,841,900 2,320,400 (21)%
4E built-up head grade
3.19 3.06 2.77 2.86 3.19 4% 0% 3.00 3.26 (8)%
(g/tonne milled)(14)
13
Q4 2014 Q4 2014 2014
De Beers Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 vs. vs. vs
2014 2013
Q3 2014 Q4 2013 2013
Carats
recovered
100% basis
Orapa 2,732,000 2,651,000 3,487,000 3,204,000 3,516,000 3% (22)% 12,074,000 11,375,000 6%
(20)
Letlhakane 83,000 157,000 177,000 131,000 164,000 (47)% (49)% 548,000 682,000
%
Damtshaa 94,000 83,000 70,000 56,000 102,000 13% (8)% 303,000 264,000 15%
Jwaneng 3,080,000 3,333,000 2,532,000 2,367,000 2,575,000 (8)% 20% 11,312,000 10,386,000 9%
Debswana 5,989,000 6,224,000 6,266,000 5,758,000 6,357,000 (4)% (6)% 24,237,000 22,707,000 7%
Namdeb 121,000 156,000 199,000 137,000 148,000 (22)% (18)% 613,000 602,000 2%
Debmarine
375,000 293,000 310,000 295,000 317,000 28% 18% 1,273,000 1,160,000 10%
Namibia
Namdeb
496,000 449,000 509,000 432,000 465,000 10% 7% 1,886,000 1,762,000 7%
Holdings
(11)
Kimberley 202,000 207,000 154,000 159,000 147,000 (2)% 37% 722,000 815,000
%
Venetia 1,060,000 776,000 834,000 531,000 1,403,000 37% (24)% 3,201,000 3,192,000 -
Voorspoed 140,000 143,000 186,000 242,000 178,000 (2)% (21)% 711,000 717,000 (1)%
DBCM 1,402,000 1,126,000 1,174,000 932,000 1,728,000 25% (19)% 4,634,000 4,724,000 (2)%
Snap Lake 301,000 253,000 379,000 268,000 397,000 19% (24)% 1,201,000 1,312,000 (8)%
Victor 178,000 141,000 187,000 141,000 185,000 26% (4)% 647,000 654,000 (1)%
De Beers
479,000 394,000 566,000 409,000 582,000 22% (18)% 1,848,000 1,966,000 (6)%
Canada
Total carats
8,366,000 8,193,000 8,515,000 7,531,000 9,132,000 2% (8)% 32,605,000 31,159,000 5%
recovered
(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) Difference between total copper production and attributable copper production arises from Anglo American’s 44% interest in Collahuasi
(11) Excludes Anglo American Platinum’s nickel production
(12) 2013 fertiliser includes updated production quantification methodology in the acidulation plant at Cubatão
(13) 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
(14) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
14
Sponsor: UBS South Africa (Pty) Ltd
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 Edward Kite
Tel: +44 (0)20 7968 8481 Tel: +44 (0)20 7968 2178
South Africa Sarah McNally
Pranill Ramchander Tel: +44 (0)20 7968 8747
Tel: +27 (0)11 638 2592
Shamiela Letsoalo
Tel: +27 (0)11 638 3112
Notes to editors:
Anglo American is a global and diversified mining business that provides the raw materials
essential for economic development and modern life. Our people are at the heart of our business.
It is our people who use the latest technologies to find new resources, plan and build our mines
and who mine, process and move and market our products – from bulk commodities and base
metals to precious metals and diamonds (through De Beers) – to our customers around the
world. Our diversified portfolio of products spans the economic development cycle and, as a
responsible miner, we are the custodians of precious resources. We work together with our key
partners and stakeholders to unlock the long-term value that those resources represent for our
shareholders, but also for the communities and countries in which we operate – creating
sustainable value and making a real difference. Our mining operations, growth projects and
exploration and marketing activities extend across southern Africa, South America, Australia,
North America, Asia and Europe.
www.angloamerican.com
15
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