Wrap Text
Production Report for the second quarter ended 30 June 2015
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")
Anglo American plc
Production Report for the second quarter ended 30 June 2015
Overview
% vs. Q2 % vs. H1
Q2 2015 Q2 2014 H1 2015 H1 2014
2014 2014
Iron ore – Kumba (Mt) 10.4 11.5 (9)% 22.6 22.8 (1)%
Iron ore – Minas-Rio (Mt)(1) 1.8 - nm(2) 3.0 - nm(2)
Export metallurgical coal (Mt) 5.3 4.8 9% 10.2 10.9 (6)%
Export thermal coal (Mt) 8.6 8.1 5% 17.3 16.0 8%
Copper (t)(3) (4) 184,500 194,400 (5)% 356,300 396,400 (10)%
Nickel (t)(5) 6,300 10,600 (41)% 13,000 19,800 (34)%
Platinum (equivalent refined) (koz)(6) 572 358 60% 1,108 715 55%
Diamonds (Mct)(7) 8.0 8.5 (6)% 15.6 16.0 (3)%
- Solid Q2 2015 production performance, broadly in line with Anglo American expectations.
- Iron ore production from Kumba decreased by 9% to 10.4 million tonnes due to mining
feedstock constraints to the plants at Sishen.
- Minas-Rio produced 1.8 million tonnes (wet basis) of iron ore, a 55% increase compared to Q1
2015, reflecting the ongoing ramp up of the operation.
- Export metallurgical coal production increased by 9% to 5.3 million tonnes with higher
production from Moranbah, due to a longwall move in Q2 2014, and development coal from the
Grosvenor project.
- Export thermal coal production increased by 5% to 8.6 million tonnes, primarily due to higher
production in Australia largely the result of a change in mix.
- Copper production decreased by 5% to 184,500 tonnes, as expected and mainly due to the
temporary shutdowns of the processing plants at Los Bronces to manage water reserve levels
and plant stability issues at Collahuasi.
- Nickel production decreased by 41% to 6,300 tonnes as expected, due to the planned Barro
Alto furnace rebuilds.
- Equivalent refined platinum production increased by 60% to 572,000 ounces benefitting from
reduced industrial stoppages compared to 2014.
- Diamond production decreased by 6% to 8.0 million carats, mainly due to lower grades and
reduced plant availability at Orapa. In addition, operational flexibility at the Venetia and
Jwaneng tailings treatment plants was utilised to reduce production marginally, in response to
softer trading conditions.
- The first six months of 2015 have seen significant further weakness and ongoing volatility in the
prices of the bulk commodities, particularly iron ore and metallurgical coal. Anglo American has
therefore reviewed its near and longer term commodity price assumptions at the mid-year, while
also noting the gradual and ongoing reduction of consensus prices within what remains a wide
range of forecasts. As a result, Anglo American expects to record non-cash impairments within
special items at 30 June 2015 relating to Minas-Rio and certain Australian coal assets of
approximately $3.0 – 4.0 billion on a post-tax basis.
(1) Wet basis; (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 converted 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
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Iron Ore and Manganese vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Iron ore – Kumba 000 t 10,385 11,465 (9)% 12,167 (15)% 22,552 22,793 (1)%
Iron ore – Minas-Rio(1) 000 t 1,826 - nm 1,177 55% 3,003 - nm
Manganese ore(2) 000 t 806 868 (7)% 787 2% 1,568 1,561 0%
Manganese alloys(3) 000 t 54 73 (27)% 73 (27)% 126 137 (8)%
(1) Wet basis
(2) Saleable production
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore – Production from Kumba Iron Ore decreased by 9% to 10.4 million tonnes.
Sishen produced 7.2 million tonnes, a decrease of 14%, and 19% lower compared to the previous
quarter, largely due to mining feedstock constraints to the plants. Waste removal at the mine
increased by 22% to 58 million tonnes compared to Q2 2014.
Kolomela continued its strong operational performance, producing 2.9 million tonnes.
Record export sales of 11.7 million tonnes were achieved, an increase of 14%, due to sale of
stock at Saldanha and Qingdao, as inventory levels continue to be managed downward to
optimum levels of ~4 million tonnes. In addition, reclaimer maintenance impacted prior year sales
export volumes from Kolomela. Total finished product stocks decreased to 4 million tonnes as at
30 June 2015, compared with 6.5 million tonnes at year end.
Iron Ore Brazil – The ramp up of Minas-Rio is progressing well, and production gained
momentum during the second quarter, with 1.8 million tonnes (wet basis) produced, 55% higher
than Q1 2015. Year to date production volumes are marginally behind plan due to early
adjustments required in the filtration plant. This has been addressed and remediation actions put
in place, increasing productivity and availability in May and June.
Manganese ore – Manganese ore production decreased by 7% during Q2 2015 with volumes
impacted by planned shutdowns in the South African operations, combined with unplanned
industrial action during the period. The decreased volumes in South Africa were slightly offset by
improvement in the Australian operations where higher yield and plant utilisation contributed to
improved equipment reliability.
Manganese alloy – Manganese alloy production decreased by 27% as a result of the suspension
of operations at Metalloys in South Africa. Initially the suspension was a result of a fatality at the
operations, with only one furnace subsequently restarted due to market conditions.
COAL
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Coal vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Australia & Canada
Metallurgical - Export 000 t 5,253 4,831 9% 4,996 5% 10,248 10,884 (6)%
Thermal - Export 000 t 1,327 958 38% 1,433 (7)% 2,760 1,728 60%
Thermal - Domestic 000 t 1,622 1,846 (12)% 1,650 (2)% 3,272 3,074 6%
South Africa
Thermal - Export 000 t 4,297 4,274 1% 4,342 (1)% 8,638 8,423 3%
Thermal - Domestic (Eskom) 000 t 6,774 8,147 (17)% 6,951 (3)% 13,725 15,554 (12)%
Thermal - Domestic (Non-
000 t 1,590 1,611 (1)% 1,702 (7)% 3,292 2,971 11%
Eskom)
Colombia
Thermal - Export 000 t 2,944 2,908 1% 2,975 (1)% 5,919 5,856 1%
Australia and Canada – Export metallurgical coal production increased by 9% to 5.3 million
tonnes as Moranbah production was higher due to a longwall move in Q2 2014, and first
development coal was delivered from Grosvenor, more than offsetting Peace River Coal being
placed on care and maintenance in December 2014. Strong productivity at Grasstree resulted in
only marginally lower production despite a longwall move in Q2 2015.
Australian export thermal coal production increased by 38% to 1.3 million tonnes due to Callide
producing an export coal product and a change in mix (to thermal coal) at Dawson due to the
impact of Cyclone Marcia on the mine sequencing. Export thermal volumes decreased by 7%
compared to Q1 2015 as Drayton production was impacted by severe weather in April.
South Africa – Export thermal coal production was broadly flat at 4.3 million tonnes as
productivity improvements across all operations, were partially offset by industrial action at
Kleinkopje and a planned closure of one of the 11 sections at Goedehoop.
Export thermal sales were 16% higher than production in the quarter following a planned draw
down of stock.
Eskom production decreased by 17% to 6.8 million tonnes owing mainly to reduced demand at
New Denmark and New Vaal, industrial action and changing domestic requirements at Kleinkopje,
as well as planned reductions at Kriel prior to the move to the new mining areas.
Colombia – Cerrejón’s production was slightly higher at 2.9 million tonnes, supported by improved
productivity of loading and hauling fleets, combined with favorable weather conditions.
4
COPPER
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Copper vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Copper (1) t 184,500 194,400 (5)% 171,800 7% 356,300 396,400 (10)%
(1) Copper production shown on a contained metal basis
Copper – As expected, copper production decreased by 5% to 184,500 tonnes, but was 7%
higher than in Q1 2015.
Production from Los Bronces decreased by 8% to 97,400 tonnes due to lower throughput
following the temporary shutdowns of Plant 1 and Confluencia processing plants for 29 days and 8
days respectively to manage water reserve levels, partially offset by higher grades, with a net
impact on production of ~8,000 tonnes during the quarter. This brings the total net impact of water
constraints on production to 28,000 tonnes for H1 2015. The expected water supply constraints
form part of the mining and processing plans for the year, which include actively managing the use
of the two processing plants based on available water. Central Chile continues to experience
abnormally low levels of precipitation, with June 2015 the driest on record. Additional water
efficiency and supply projects were implemented during the period and longer term initiatives are
progressing; however, full year production remains partially dependent on weather conditions in
the second half.
At Collahuasi, attributable production decreased by 8% to 49,300 tonnes. This was primarily due
to lower ore feed as a result of speed restrictions on the two smaller processing lines after
vibrations were detected. This issue is being addressed in H2 2015.
El Soldado production increased by 19% to 10,000 tonnes due to higher grades in the quarter,
driven by early ore availability from Phase III. Production increased by 64% compared to Q1 2015
on higher grades and throughput.
Production from Mantos Blancos and Mantoverde increased by 5% in aggregate to 27,800 tonnes,
due to continued operational improvements.
Taking into account the effect of provisional pricing, the realised copper price for the six months
ending 30 June 2015 was 253c/lb.
At the period end, there were 174,000 tonnes of sales outstanding priced at 261c/lb.
NICKEL
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Nickel vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Nickel t 6,300 10,600 (41)% 6,700 (6)% 13,000 19,800 (34)%
Nickel – As expected, nickel production decreased by 41% to 6,300 tonnes, due to the planned
furnace rebuilds at Barro Alto. The Furnace 2 rebuild was concluded ahead of schedule, with first
metal tapped in April 2015 and production is now at nameplate capacity (throughput 1.2 million
tonnes per year for each furnace, equivalent to an average of ~18,000 tonnes of nickel per furnace
for the first ten years). The Furnace 1 rebuild commenced ahead of schedule given the successful
completion of Furnace 2, and is planned to complete in October 2015.
Production from Codemin increased by 10% to 2,200 tonnes mainly due to maintenance being
rescheduled to Q3 2015.
NIOBIUM
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Niobium vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Niobium t 1,600 1,100 45% 1,300 23% 2,900 2,200 32%
Niobium – Niobium production increased by 45% to 1,600 tonnes following the ramp up of the
Boa Vista Fresh Rock (BVFR) plant. Production is expected to increase to 6,800 tonnes per year
once the BVFR plant reaches nameplate capacity in 2017.
PHOSPHATES
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Phosphates vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Phosphates
Concentrate t 303,300 349,500 (13)% 319,300 (5)% 622,600 697,400 (11)%
Phosphoric Acid t 62,400 81,300 (23)% 63,200 (1)% 125,600 135,100 (7)%
Fertiliser t 274,200 275,700 (1)% 238,800 15% 513,000 542,900 (6)%
Dicalcium phosphate (DCP) t 38,700 43,600 (11)% 36,200 7% 74,900 75,200 (0)%
Phosphates – Concentrate production decreased by 13% to 303,300 tonnes mainly due to a
maintenance stoppage being brought forward at the beneficiation plants (originally planned for Q3),
throughput reductions and material feed characteristics. Phosphoric acid production decreased by
23% to 62,400 tonnes due to the rescheduling of the annual maintenance shutdown at Cubatão
from Q1 2015 to Q2 2015.
PLATINUM
Q2 2015 Q2 2015 H1 2015
Q2 Q2 Q1 H1 H1
Platinum vs. vs. vs.
2015 2014 2015 2015 2014
Q2 2014 Q1 2015 H1 2014
Refined
Platinum 000 oz 561 421 33% 542 3% 1,103 856 29%
Palladium 000 oz 388 295 32% 348 11% 736 551 33%
Rhodium 000 oz 77 49 58% 65 18% 142 109 30%
Copper – Refined t 4,000 3,900 3% 3,900 3% 7,900 7,100 11%
(1)
Copper – Matte t 0 2,300 (100)% 300 (100)% 300 3,500 (91)%
Nickel – Refined t 6,000 5,600 7% 5,700 5% 11,700 10,500 11%
Nickel – Matte(1) t 0 2,700 (100)% 400 (100)% 400 4,100 (90)%
Gold 000 oz 30 27 14% 30 1% 61 52 16%
Equivalent refined
Platinum 000 oz 572 358 60% 536 7% 1,108 715 55%
(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 60% to 572,000 ounces
compared to 358,000 ounces in Q2 2014, which was impacted by industrial action.
Own mines and tailings retreatment platinum production more than doubled to 372,000 ounces as
operations reached full ramp-up following the strike in H1 2014. Lost production in Q2 2014 as a
result of the strike was approximately 229,000 ounces plus an additional 16,000 ounces lost
during ramp-up upon settlement of the strike on 24 June 2014. In addition, as part of the on-going
optimisation of Union mine, production was 16,000 ounces lower in Q2 2015 following the closure
of the mine declines at the end of 2014.
Mogalakwena production increased by 5% to 101,000 ounces due to continued strong mining
performance, higher achieved head grade and improved recoveries at the concentrator.
Rustenburg increased equivalent refined platinum production from 13,000 ounces to 108,000
ounces; Union mine increased from 4,000 to 30,000 ounces; and Amandelbult from 14,000 to
102,000 ounces due to the industrial action that impacted production in H1 2014.
Independently managed production (mined and purchased) decreased by 3% to 183,000 ounces
driven mainly by lower production at BRPM and Mototolo. Production was impacted as a result of
section 54 safety stoppages and lower grades.
Refined platinum production increased by 33% to 561,000 ounces, following a return to normal
production after the industrial action in H1 2014. Refined palladium and rhodium increased for
similar reasons. The mix of metals returned to normal compositions as all mines produced at
normal rates.
DIAMONDS
Q2 2015 Q2 2015 H1 2015
Diamonds Q2 Q2 Q1 H1 H1
vs. vs. vs.
(100% basis) 2015 2014
Q2 2014
2015
Q1 2015
2015 2014
H1 2014
Diamonds 000 carats 7,963 8,515 (6)% 7,665 4% 15,628 16,046 (3)%
De Beers – Diamond production decreased by 6% to 8.0 million carats, mainly due to lower
grades and reduced plant availability at Orapa. In addition, operational flexibility at the Venetia and
Jwaneng tailings treatment plants was utilised to reduce production marginally in response to
softer trading conditions.
Debswana’s production decreased by 6% to 5.9 million carats, mainly due to Orapa output as
described above.
Production at DBCM (South Africa) decreased by 5%, largely as a result of lower grades at the
Venetia open-pit mine.
Production in Namibia decreased slightly as a result of lower grades and throughput at the land
operations, due in part to short-term industrial action.
Production in Canada decreased by 11% due mainly to lower grades at Victor, together with lower
volumes from Snap Lake which was affected by water management challenges.
Total rough diamond sales volumes (on a 100% basis including all sales by JVs) for the first six
months of 2015 decreased on the prior half year by 26% to 14.0 million carats and consolidated
sales volumes decreased by 27% to 13.3 million carats. This reflected relatively low levels of re-
stocking by the midstream in 2015, in contrast with particularly strong sales conditions in the first
half of 2014.
The De Beers rough price index was on average 4% lower for the first half of 2015 compared to
the first half of 2014; however a 7% higher average realised selling price of $206 per carat was
achieved, due to a higher quality product mix sold relative to the comparable period in 2014.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q2 2015 totalled $69 million, a decrease of 31%.
Exploration expenditure was $34 million, a decrease of 17%, mainly attributable to Iron Ore and
Diamonds. Evaluation expenditure for the quarter was $35 million, a decrease of 39%, primarily in
the Kumba Iron Ore and Copper businesses.
PRODUCTION GUIDANCE
Anglo American will, as usual, update production guidance as part of its Interim Financial Results
on 24 July 2015.
NOTE
This Production Report for the second quarter ended 30 June 2015 is unaudited.
PRODUCTION SUMMAR
The figures below include the entire output of consolidated entities and the Group’s attributable
share of joint operations, associates and joint ventures where applicable, except for De Beers’ joint
ventures which are quoted on a 100% basis.
Q2 2015 Q2 2015 H1 2015
H1 H1
Iron Ore (tonnes) Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2014
Q1 2015 Q2 2014 H1 2014
Kumba Iron Ore
Lump 6,761,800 7,889,900 8,048,000 8,235,700 7,480,100 (14)% (10)% 14,651,700 14,985,100 (2)%
Fines 3,622,900 4,277,500 4,383,600 4,736,400 3,984,900 (15)% (9)% 7,900,400 7,807,700 1%
Total Kumba production 10,384,700 12,167,400 12,431,600 12,972,100 11,465,000 (15)% (9)% 22,552,100 22,792,800 (1)%
Sishen 7,176,200 8,885,500 9,286,300 9,260,200 8,336,600 (19)% (14)% 16,061,700 16,994,100 (5)%
Kolomela 2,880,300 2,972,500 2,727,800 3,379,000 2,948,400 (3)% (2)% 5,852,800 5,461,300 7%
Thabazimbi 328,200 309,400 417,500 332,900 180,000 6% 82% 637,600 337,400 89%
Total Kumba production 10,384,700 12,167,400 12,431,600 12,972,100 11,465,000 (15)% (9)% 22,552,100 22,792,800 (1)%
Kumba sales volumes
RSA export iron ore 11,732,600 11,471,600 11,699,000 9,058,800 10,287,200 2% 14% 23,204,200 19,709,900 18%
RSA domestic iron ore 1,348,000 1,434,600 901,800 1,129,200 1,374,000 (6)% (2)% 2,782,600 2,788,800 0%
Minas-Rio
Pellet feed (wet basis) 1,826,200 1,176,700 687,700 - - 55% nm 3,002,900 - nm
Minas-Rio sales volumes
Export – pellet feed (wet
1,344,400 1,294,300 239,600 - - 4% nm 2,638,700 - nm
basis)
Samancor
Manganese ore(1) 805,700 786,700 882,100 866,000 868,300 2% (7)% 1,567,800 1,560,500 0%
(1)(2)
Manganese alloys 53,600 72,800 80,400 68,400 72,500 (26)% (26)% 126,200 137,300 (8)%
Samancor sales volumes
Manganese ore 720,700 829,900 841,100 853,000 854,100 (13)% (16)% 1,552,400 1,688,000 (8)%
Manganese alloys 55,300 63,600 72,800 68,400 74,400 (13)% (26)% 118,900 153,600 (23)%
Q2 2015 Q2 2015
H1 H1 H1 2015 vs.
Coal (tonnes) Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs.
2015 2014 H1 2014
Q1 2015 Q2 2014
Australia
Metallurgical – Export
3,743,800 3,746,900 3,364,400 3,196,200 2,917,700 - 28% 7,490,700 6,881,700 9%
Coking
Metallurgical - Export
1,508,800 1,248,800 1,395,800 1,493,900 1,441,800 21% 5% 2,757,600 3,101,100 (11)%
PCI
5,252,600 4,995,700 4,760,200 4,690,100 4,359,500 5% 20% 10,248,300 9,982,800 3%
Thermal - Export 1,326,600 1,433,200 1,871,600 1,574,600 958,400 (7)% 38% 2,759,800 1,727,700 60%
Thermal - Domestic 1,622,400 1,649,900 1,966,300 2,074,400 1,846,000 (2)% (12)% 3,272,300 3,073,900 6%
2,949,000 3,083,100 3,837,900 3,649,000 2,804,400 (4)% 5% 6,032,100 4,801,600 26%
Canada
Metallurgical - Export
- - 160,200 385,000 439,200 - - - 848,400 -
Coking
Metallurgical - Export
- - 11,200 15,000 32,000 - - - 52,800 -
PCI
- - 171,400 400,000 471,200 - - - 901,200 -
South Africa
Thermal - Export 4,296,700 4,341,700 4,782,800 5,007,600 4,273,600 (1)% 1% 8,638,400 8,422,700 3%
Thermal - Domestic
6,774,000 6,950,700 7,434,600 8,000,200 8,146,800 (3)% (17)% 13,724,700 15,553,700 (12)%
(Eskom)
Thermal - Domestic
1,590,000 1,702,000 1,761,400 1,862,800 1,611,200 (7)% (1)% 3,292,000 2,970,700 11%
(Non-Eskom)
12,660,700 12,994,400 13,978,800 14,870,600 14,031,600 (3)% (10)% 25,655,100 26,947,100 (5)%
Colombia
Thermal - Export 2,944,400 2,975,000 3,002,300 2,368,800 2,907,700 (1)% 1% 5,919,400 5,855,900 1%
2,944,400 2,975,000 3,002,300 2,368,800 2,907,700 (1)% 1% 5,919,400 5,855,900 1%
Total Metallurgical coal
production 5,252,600 4,995,700 4,931,600 5,090,100 4,830,700 5% 9% 10,248,300 10,884,000 (6)%
Total Export Thermal
coal production 8,567,700 8,749,900 9,656,700 8,951,000 8,139,700 (2)% 5% 17,317,600 16,007,800 8%
Total Domestic Thermal
coal production 9,986,400 10,302,600 11,162,300 11,937,400 11,604,000 (3)% (14)% 20,289,000 21,596,900 (6)%
Total Coal production 23,806,700 24,048,200 25,750,600 25,978,500 24,574,400 (1)% (3)% 47,854,900 48,488,600 (1)%
Sales volumes (own
mined)
Australia and Canada
Metallurgical - Export(4) 5,103,100 5,113,400 5,025,600 5,003,800 5,152,600 - (1)% 10,216,500 10,538,800 (3)%
Thermal - Export 1,505,800 1,418,200 2,345,400 1,703,800 897,300 6% 68% 2,924,000 1,917,000 53%
Thermal - Domestic 1,670,500 1,591,000 1,989,400 2,102,300 1,870,000 5% (11)% 3,261,500 3,201,400 2%
South Africa
25%
Thermal - Export 4,967,400 5,195,200 5,139,300 4,473,700 3,982,500 (4)% 10,162,600 7,959,700 28%
(15)%
Thermal - Domestic 8,203,900 8,746,600 8,770,400 9,690,900 9,677,500 (6)% 16,950,500 18,756,100 (10)%
Colombia
Thermal - Export 2,765,700 3,005,100 2,732,000 3,076,800 2,858,100 (8)% (3)% 5,770,800 5,505,400 5%
Q2 2015 Q2 2015 H1 2015
H1 H1
Coal by mine (tonnes) Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2014
Q1 2015 Q2 2014 H1 2014
Australia
Callide 1,789,300 1,857,000 2,164,700 2,318,500 1,844,600 (4)% (3)% 3,646,300 3,073,800 19%
Capcoal
1,793,500 2,259,100 2,074,300 1,816,300 1,847,500 (21)% (3)% 4,052,600 3,752,200 8%
(incl. Grasstree)
Dawson 1,375,500 663,800 1,074,800 1,041,400 1,101,200 107% 25% 2,039,300 2,124,000 (4)%
Drayton 462,800 707,500 920,200 817,000 708,500 (35)% (35)% 1,170,300 1,367,600 (14)%
Foxleigh 511,200 478,300 579,200 551,200 471,200 7% 8% 989,500 904,100 9%
Grosvenor 121,800 51,600 - - - 136% nm 173,400 - nm
Jellinbah 766,400 763,900 757,100 732,800 756,300 - 1% 1,530,300 1,433,800 7%
Moranbah North 1,381,100 1,297,600 1,027,800 1,061,900 434,600 6% 218% 2,678,700 2,128,900 26%
8,201,600 8,078,800 8,598,100 8,339,100 7,163,900 2% 14% 16,280,400 14,784,400 10%
Canada
Peace River Coal - - 171,400 400,000 471,200 - - - 901,200 -
- - 171,400 400,000 471,200 - - - 901,200 -
South Africa
Goedehoop 1,106,100 1,133,800 1,245,800 1,210,200 1,177,200 (2)% (6)% 2,239,900 2,315,600 (3)%
Greenside 992,300 927,500 1,010,700 1,003,400 806,500 7% 23% 1,919,800 1,610,000 19%
Zibulo 1,385,000 1,281,100 1,367,900 1,450,000 1,122,500 8% 23% 2,666,100 2,235,900 19%
Kleinkopje 572,000 860,300 950,200 1,011,500 1,142,700 (34)% (50)% 1,432,300 1,950,200 (27)%
Landau 1,065,000 979,900 1,208,800 1,195,900 870,900 9% 22% 2,044,900 3,773,600 15%
Mafube 344,500 361,500 414,700 525,400 413,500 (5)% (17)% 706,000 735,300 (4)%
New Vaal 4,211,200 3,548,600 3,701,400 4,755,200 4,321,200 19% (3)% 7,759,800 8,216,200 (5)%
New Denmark 441,100 872,600 1,312,400 724,900 1,091,800 (49)% (60)% 1,313,700 1,730,600 (24)%
Kriel 1,546,000 1,813,300 1,462,400 1,614,000 1,756,200 (15)% (12)% 3,359,300 3,801,700 (11)%
Isibonelo 997,500 1,215,800 1,304,500 1,380,100 1,329,100 (18)% (25)% 2,213,300 2,578,000 (14)%
12,660,7000 12,994,400 13,978,800 14,870,600 14,031,600 (3)% (10)% 25,655,100 26,947,100 (5)%
Colombia
Carbones del Cerrejón 2,944,400 2,975,000 3,002,300 2,368,800 2,907,700 (1)% 1% 5,919,400 5,855,900 1%
2,944,400 2,975,000 3,002,300 2,368,800 2,907,700 (1)% 1% 5,919,400 5,855,900 41%
Total Coal production 23,806,700 24,048,200 25,750,600 25,978,500 24,574,400 (1)% (3)% 47,854,900 48,488,600 (1)%
Copper (tonnes) on a contained Q2 2015 Q2 2015 H1 2015
H1 H1
metal basis unless stated Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2014
otherwise(5) Q1 2015 Q2 2014 H1 2014
Collahuasi 100% basis (Anglo
American share 44%)
Ore mined 20,130,700 18,094,700 15,594,200 16,442,500 16,248,500 11% 24% 38,225,400 33,808,600 13%
Ore processed - Oxide 1,835,700 1,333,300 1,552,300 1,744,800 1,659,900 38% 11% 3,169,000 3,360,400 (6)%
Ore processed - Sulphide 10,464,200 11,060,300 11,991,600 11,689,600 13,194,500 (5)% (21)% 21,524,500 25,254,900 (15)%
Ore grade processed - Oxide
0.60 0.69 0.68 0.78 0.72 (13)% (17)% 0.64 0.72 (12)%
(% ASCu)(6)
Ore grade processed - Sulphide (%
1.15 1.08 1.10 1.12 1.03 6% 12% 1.12 1.06 5%
TCu)(7)
Production - Copper cathode 6,600 6,500 9,100 6,200 4,400 2% 50% 13,100 9,700 35%
Production - Copper in concentrate
105,500 98,000 110,400 104,000 117,400 8% (10)% 203,500 231,000 (12)%
Total copper production for
Collahuasi 112,100 104,500 119,500 110,200 121,800 7% (8)% 216,600 240,700 (10)%
Anglo American’s share of copper
production for Collahuasi(8) 49,300 46,000 52,600 48,500 53,600 7% (8)% 95,300 105,900 (10)%
Anglo American Sur
Los Bronces mine(9)
Ore mined 13,345,700 13,548,000 15,655,600 14,215,400 15,483,900 (1)% (14)% 26,893,700 27,795,200 (3)%
Marginal ore mined 10,929,100 8,916,800 8,993,400 7,012,900 4,949,400 23% 121% 19,845,900 10,229,800 94%
Ore processed – Sulphide 10,447,300 9,250,100 12,739,000 14,202,100 13,911,500 13% (25)% 19,697,400 27,206,600 (28)%
Ore grade processed - Sulphide (%
0.98 1.07 0.75 0.71 0.81 (8)% 21% 1.02 0.84 22%
TCu)
Production - Copper cathode 7,800 9,000 8,300 9,100 8,900 (13)% (12)% 16,800 18,800 (11)%
89,600 85,700 78,900 86,600 97,100 5% (8)% 175,300 202,800 (14)%
Production - Copper in concentrate
Production total
97,400 94,700 87,200 95,700 106,000 3% (8)% 192,100 221,600 (13)%
El Soldado mine(9)
Ore mined 1,915,700 1,060,800 563,900 210,700 450,300 81% 325% 2,976,500 2,343,800 27%
Ore processed - Sulphide 1,752,100 1,214,000 1,762,700 1,806,600 1,777,400 44% (1)% 2,966,100 3,634,300 (18)%
Ore grade processed - Sulphide (%
0.71 0.66 0.55 0.53 0.58 8% 22% 0.69 0.63 9%
TCu)
Production - Copper cathode 0 200 400 300 300 (100)% (100)% 200 500 (60)%
Production - Copper in concentrate 10,000 5,900 7,000 6,400 8,100 69% 23% 15,900 17,800 (11)%
Production total
10,000 6,100 7,400 6,700 8,400 64% 19% 16,100 18,300 (12)%
Chagres Smelter(9)
Ore smelted 36,200 37,100 28,900 33,300 33,200 (2)% 9% 73,300 69,900 5%
Production 35,300 36,000 28,300 32,300 32,400 (2)% 9% 71,300 67,900 5%
Total copper production for Anglo
American Sur 107,400 100,800 94,600 102,400 114,400 7% (6)% 208,200 239,900 (13)%
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide 1,043,300 1,073,800 1,059,300 1,156,100 1,109,000 (3)% (6)% 2,117,100 2,187,000 (3)%
Ore grade processed - Sulphide (%
0.79 0.75 0.75 0.68 0.64 5% 23% 0.77 0.62 24%
TCu)
Production - Copper cathode 8,500 6,900 7,300 6,500 7,900 23% 8% 15,400 12,900 19%
Production - Copper in concentrate 6,800 6,800 6,800 6,500 6,300 0% 8% 13,600 12,400 10%
Production total 15,300 13,700 14,100 13,000 14,200 12% 8% 29,000 25,300 15%
Mantoverde mine
Ore processed - Oxide 2,487,900 2,279,400 2,582,100 2,634,100 2,566,100 9% (3)% 4,767,300 5,096,600 (6)%
Ore processed - Marginal ore 2,790,000 1,496,800 2,274,500 2,077,300 2,189,100 86% 27% 4,286,800 4,294,300 (0)%
Ore grade processed - Oxide (%
0.54 0.51 0.49 0.47 0.48 8% 13% 0.53 0.49 7%
ASCu)
Ore grade processed - Marginal ore
0.21 0.22 0.23 0.23 0.23 (3)% (9)% 0.21 0.24 (12)%
(% ASCu)
Production - Copper cathode
12,500 11,300 13,500 13,000 12,200 11% 2% 23,800 25,300 (6)%
Total copper production for Anglo
American Norte 27,800 25,000 27,600 26,000 26,400 11% 5% 52,800 50,600 4%
Total Copper segment copper
production 247,300 230,300 241,700 238,600 262,600 7% (6)% 477,600 531,200 (10)%
Total Attributable copper
production(10) 184,500 171,800 174,800 176,900 194,400 7% (5)% 356,300 396,400 (10)%
Total Attributable payable copper
production 179,000 166,800 169,700 171,700 186,600 7% (4)% 345,800 384,500 (10)%
Total Attributable sales volumes
179,400 164,800 187,400 179,300 180,800 9% (1)% 344,200 388,400 (11)%
Total Attributable payable sales
volumes 173,800 160,100 181,700 173,900 175,400 9% (1)% 333,900 377,000 (11)%
Q2 2015 Q2 2015 H1 2015
Nickel (tonnes) unless Q2 H1 H1
Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
stated otherwise(11) 2015
Q1 2015 Q2 2014
2015 2014
H1 2014
Barro Alto
Ore mined 903,300 235,300 400,500 1,019,300 736,600 284% 23% 1,138,600 1,090,600 4%
Ore processed 281,100 294,600 276,000 531,900 555,500 (5)% (49)% 575,700 1,019,500 (44)%
Ore grade processed - %Ni 1,80 1.77 1.86 1.86 1.78 1% 1% 1,78 1.78 0%
Production 4,100 4,400 4,500 8,300 8,600 (7)% (52)% 8,400 15,500 (46)%
Codemin
Ore mined 8,600 - - - 6,800 - 26% 8,600 6,800 26%
Ore processed 145,700 151,400 151,500 154,100 140,800 (4)% 3% 297,100 288,000 3%
Ore grade processed - %Ni 1.71 1.66 1.66 1.67 1.67 3% 2% 1,68 1.67 1%
Production 2,200 2,300 2,200 2,400 2,000 (4)% 10% 4,500 4,300 5%
Total Nickel segment nickel
6,300 6,700 6,700 10,700 10,600 (6)% (41)% 13,000 19,800 (34)%
production
Sales volumes 8,600 7,500 8,400 8,800 8,900 15% (4)% 16,100 18,900 (15)%
Niobium Q2 2015 Q2 2015 H1 2015
Q2 H1 H1
(tonnes) unless stated Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2015 2014
otherwise Q1 2015 Q2 2014 H1 2014
Niobium
Ore mined 605,600 291,100 166,300 424,900 356,200 108% 70% 896,700 394,700 127%
Ore processed 570,400 501,800 377,700 237,900 238,700 14% 139% 1,072,200 468,400 129%
Ore grade processed - %Nb 0.93 0.96 1.05 1.08 1.10 (3)% (15)% 0.95 1.01 (6)%
Production 1,600 1,300 1,300 1,200 1,100 23% 45% 2,900 2,200 32%
Sales volumes 1,500 1,300 1,100 1,200 1,200 15% 25% 2,800 2,300 22%
Phosphates Q2 2015 Q2 2015 H1 2015
H1 H1
(tonnes) unless stated Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs.
2015 2014
vs.
otherwise Q1 2015 Q2 2014 H1 2014
Phosphates
Concentrate 303,300 319,300 355,600 362,700 349,500 (5)% (13)% 622,600 697,400 (11)%
Concentrate grade - %P2O5 36.9 36.9 36.8 37.3 37.1 0% (0)% 36.9 37.0 (0)%
Phosphoric acid 62,400 63,200 78,600 81,300 81,300 (1)% (23)% 125,600 135,100 (7)%
Fertiliser 274,200 238,800 284,900 284,700 275,700 15% (1)% 513,000 542,900 (6)%
High analysis fertiliser 56,100 37,500 50,200 60,200 44,200 50% 27% 93,700 74,300 26%
Low analysis fertiliser 218,100 201,200 234,600 224,500 231,500 8% (6)% 419,300 468,600 (10)%
Dicalcium phosphate (DCP) 38,700 36,200 44,800 44,100 43,600 7% (11)% 74,900 75,200 (0)%
Fertiliser sales volumes 317,500 208,500 277,400 311,700 241,000 52% 32% 526,000 507,500 4%
Q2 2015 Q2 2015 H1 2015
H1 H1
Platinum Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2014
Q1 2015 Q2 2014 H1 2014
Refined production
Platinum (troy oz) 560,600 542,400 573,700 460,000 420,600 3% 33% 1,103,000 855,800 29%
Palladium (troy oz) 387,700 348,100 357,700 316,400 294,600 11% 32% 735,800 551,300 33%
Rhodium (troy oz) 76,900 65,000 71,700 48,400 48,700 18% 58% 141,900 109,300 30%
Copper refined (tonnes)(12) 4,000 3,900 2,600 2,800 3,900 3% 3% 7,900 7,100 11%
Copper matte (tonnes)(12) 0 300 1,400 1,300 2,300 (100)% (100)% 300 3,500 (91)%
Nickel refined (tonnes)(12) 6,000 5,700 4,800 5,200 5,600 5% 7% 11,700 10,500 11%
Nickel matte (tonnes)(12) 0 400 1,800 1,800 2,700 (100)% (100)% 400 4,100 (90)%
Gold (troy oz) 30,400 30,100 28,900 14,600 26,700 1% 14% 60,500 52,100 16%
Equivalent refined
Platinum (troy oz) 572,100 536,000 593,900 532,800 358,200 7% 60% 1,108,100 715,200 55%
4E built-up head grade (g/tonne
3.27 3.14 3.19 3.06 2.77 4% 18% 3.21 2.82 14%
milled)(13)
1,044,80
Platinum sales volumes 635,600 523,900 523,400 546,600 511,900 21% 24% 1,159,500 11%
0
14
Q2 2015 Q2 2015 H1 2015
H1 H1
De Beers Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 vs. vs. vs.
2015 2014
Q1 2015 Q2 2014 H1 2014
Carats recovered
100% basis
Orapa 2,792,000 2,610,000 2,732,000 2,651,000 3,487,000 7% (20)% 5,402,000 6,691,000 (19)%
Letlhakane 111,000 188,000 83,000 157,000 177,000 (41)% (37)% 299,000 308,000 (3)%
Damtshaa 60,000 57,000 94,000 83,000 70,000 5% (14)% 117,000 126,000 (7)%
Jwaneng 2,950,000 2,777,000 3,080,000 3,333,000 2,532,000 6% 17% 5,727,000 4,899,000 17%
Debswana 5,913,000 5,632,000 5,989,000 6,224,000 6,266,000 5% (6)% 11,545,000 12,024,000 (4)%
Namdeb 131,000 96,000 121,000 156,000 199,000 36% (34)% 227,000 336,000 (33)%
Debmarine Namibia 300,000 366,000 375,000 293,000 310,000 (18)% (3)% 666,000 605,000 10%
Namdeb Holdings 431,000 462,000 496,000 449,000 509,000 (7)% (15)% 893,000 941,000 (5)%
Kimberley 182,000 221,000 202,000 207,000 154,000 (18)% 18% 403,000 313,000 29%
Venetia 763,000 624,000 1,060,000 776,000 834,000 22% (9)% 1,387,000 1,365,000 2%
Voorspoed 172,000 216,000 140,000 143,000 186,000 (20)% (8)% 388,000 428,000 (9)%
DBCM 1,117,000 1,061,000 1,402,000 1,126,000 1,174,000 5% (5)% 2,178,000 2,106,000 3%
Snap Lake 352,000 328,000 301,000 253,000 379,000 7% (7)% 680,000 647,000 5%
Victor 150,000 182,000 178,000 141,000 187,000 (18)% (20)% 332,000 328,000 1%
De Beers Canada 502,000 510,000 479,000 394,000 566,000 (2)% (11)% 1,012,000 975,000 4%
Total carats recovered 7,963,000 7,665,000 8,366,000 8,193,000 8,515,000 4% (6)% 15,628,000 16,046,000 (3)%
(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) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte.
(13) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
ACHIEVED PRICES SUMMARY
H1 2015 H1 2015
Average achieved prices H1 2015 H2 2014 H1 2014 FY 2014 vs. vs.
H2 2014 H1 2014
Iron Ore – FOB prices
Kumba Export (US$/dmt) 61 80 104 91 (23)% (41)%
Minas-Rio (US$/wmt) 50 nm - nm n/a n/a
Coal
Australia and Canada
Metallurgical – Export (U$/t) 100 105 117 111 (5)% (15)%
Thermal – Export (U$/t) 61 68 81 72 (10)% (25)%
Thermal – Domestic (U$/t, FOR) 29 33 37 35 (12)% (22)%
South Africa
Thermal - Export (U$/t) 60 66 75 70 (9)% (20)%
Thermal – Domestic (U$/t, FOR) 18 20 19 19 (10)% (5)%
Colombia
Thermal – Export (U$/t) 58 66 68 67 (12)% (15)%
Copper (USc/lb) 253 294 307 300 (14)% (18)%
Nickel (USc/lb) 578 749 716 731 (23%) (19%)
PGMs
Platinum (US$/oz) 1,160 1,337 1,436 1,386 (13)% (19)%
Palladium (US$/oz) 779 832 773 803 (6)% 1%
Rhodium (US$/oz) 1,133 1,234 1,069 1,147 (8)% 6%
Basket price (US$/oz) 2,157 2,355 2,474 2,413 (8)% (13)%
Basket price (ZAR/oz) 25,748 25,951 26,493 26,219 (1)% (3)%
De Beers
Total sales volume – carats
14.0 15.4 19.0 34.4 (9)% (26)%
(100%) (Mct)
Total consolidated sales volume –
13.3 14.6 18.1 32.7 (9)% (27)%
carats (Mct)
Consolidated average realised
206 204 192 198 1% 7%
price ($/Ct)
De Beers Index price (1) 139 149 145 147 (7)% (4)%
(1) Average of the De Beers index price for the Sights within the six month period. De Beers index price relative to 100 as at December 2006
16
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.
16 July 2015
Sponsor: UBS South Africa (Pty) Ltd
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Emily Blyth 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.
17
Date: 16/07/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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