Wrap Text
Production Report for the fourth quarter ended 31 December 2015
Anglo American plc
(Incorporated in England and Wales)
(Registration number: 3564138)
Registered office: 20 Carlton House Terrace, London, SW1Y 5AN
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
Anglo American plc
Production Report for the fourth quarter ended 31 December 2015
Overview
% vs. Q4 2015 vs.
Q4 2015 Q4 2014 2015 2014
2014 2014
Iron ore – Kumba (Mt) 10.9 12.4 (12)% 44.9 48.2 (7)%
Iron ore – Minas-Rio (Mt)(1) 3.3 0.7 nm 9.2 0.7 nm
Export metallurgical coal (Mt) 5.5 4.9 11% 21.2 20.9 1%
Export thermal coal (Mt) 7.7 9.7 (21)% 33.8 34.6 (2)%
Copper (t) (2) (3) 181,400 174,800 4% 708,800 748,100 (5)%
Nickel (t) (4) 10,500 6,700 57% 30,300 37,200 (19)%
Platinum (produced ounces) (koz)(5) 598 603 (1)% 2,337 1,870 25%
Diamonds (Mct) (6) 7.1 8.4 (16)% 28.7 32.6 (12)%
- Q4 2015 production increased by 3% (on a copper equivalent basis) compared to both Q4 2014
and Q3 2015. The 2015 full year production increased by 5% (on a copper equivalent basis)(7).
- Iron ore production from Kumba decreased by 12% to 10.9 million tonnes as Sishen is being
transitioned to a lower cost pit configuration.
- Minas-Rio produced 3.3 million tonnes (wet basis) of iron ore, a more than fourfold increase
compared to 0.7 million tonnes in Q4 2014, reflecting the ongoing ramp up of the operation.
- Export metallurgical coal production increased by 11% to 5.5 million tonnes due to strong
operational performances at both Grasstree and Moranbah.
- Export thermal coal production decreased by 21% to 7.7 million tonnes due to the impact of strikes
in South Africa and weather related production issues at Cerrejón.
- Copper production from the retained operations (excluding the AA Norte assets that were sold
effective 1 September 2015) increased by 23% to 181,400 tonnes due to higher grades,
throughput and metal recoveries. Overall copper production increased by 4%.
- Nickel production increased by 57% to 10,500 tonnes following the successful completion of the
planned Barro Alto furnace rebuilds.
- Niobium production increased by 23% to 1,600 tonnes with the continuing ramp up of the Boa
Vista Fresh Rock (BVFR) plant. Fertiliser production increased by 6%.
- Platinum production (expressed as metal in concentrate)(5) was broadly flat at 598,000 ounces with
operational improvements at own operations, offset by a reduction in purchase of concentrate
ounces from third parties.
- Diamond production decreased by 16% to 7.1 million carats, reflecting the decision to reduce
production in response to trading conditions.
(1) Wet basis; (2) Copper production from the Copper business unit; (3) Copper production shown on a contained metal basis; (4) Nickel production from the
Nickel business unit; (5) In keeping with industry benchmarks, production disclosure has been amended to reflect own mine production and purchases of metal
in concentrate. Previous disclosure of own mine production and purchases of metal in concentrate was converted to equivalent refined production using
standard smelting and refining recoveries; (6) De Beers production on 100% basis; (7) Copper equivalent production using long-term prices and normalised for
the sale of Anglo Norte.
IRON ORE AND MANGANESE
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Iron Ore and Manganese vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Iron ore – Kumba 000 t 10,935 12,432 (12)% 11,391 (4)% 44,878 48,197 (7)%
Iron ore – Minas-Rio(1) 000 t 3,253 688 nm 2,919 11% 9,174 688 nm
Manganese ore(2) 000 t 596 882 (32)% 923 (35)% 3,112 3,309 (6)%
Manganese alloys(3) 000 t 44 80 (46)% 44 0% 214 286 (25)%
(1) Wet basis
(2) Saleable production
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore – Production from Kumba Iron Ore decreased by 12% to 10.9 million tonnes.
Sishen produced 7.7 million tonnes, a decrease of 17%. During 2016, the mine continues to
transition to a lower cost pit configuration, which is expected to result in previously disclosed lower
production and materially lower waste stripping volumes. The planned mine configuration will
have a materially lower cost base.
At Kolomela, efficiency and throughput at the plant continued to improve, partially offset by
planned plant maintenance during October, resulting in production of 2.9 million tonnes for the
quarter, a 5% increase.
Export sales decreased by 10% to 10.5 million tonnes, due to lower production. Total finished
product stocks were 4.7 million tonnes, compared with 6.5 million tonnes at 31 December 2014 as
stocks were drawn-down to optimal levels.
Mining ceased at Thabazimbi at the end of September 2015. Material previously mined was
processed during the final quarter. Closure procedures have been implemented and all activity at
the mine is expected to cease in the middle of 2016.
Iron Ore Brazil – Minas-Rio’s ramp up continues, with 3.3 Mt (wet basis) produced in the quarter,
11% higher than in Q3 2015. Each element of the Minas-Rio system has been tested to full
capacity, however Q4 production was lower than the revised plan, as a result of ore variability and
drought related water availability issues. Following recent rainfall, water availability is now back to
normal, whilst the ore variability is expected to be overcome as the mining footprint expands over
time.
The production strategy for Minas-Rio is being revised to ensure lower operating costs.
Manganese ore – Manganese ore production decreased by 32%, largely driven by the temporary
suspension of operations at the Wessels and Mamatwan mines following a fatal incident on 2
November 2015. Ore production at the GEMCO operation in Australia decreased by 5%.
Manganese alloy – Manganese alloy production decreased by 46% following the suspension of
three of four furnaces at Metalloys in South Africa, due to market conditions.
COAL
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Coal vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Australia & Canada
Metallurgical - Export 000 t 5,484 4,932 11% 5,476 - 21,208 20,906 1%
Thermal - Export 000 t 1,154 1,872 (38)% 1,366 (16)% 5,281 5,174 2%
Thermal - Domestic 000 t 1,979 1,966 - 1,800 10% 7,052 7,115 (1)%
South Africa
Thermal - Export 000 t 3,878 4,783 (19)% 4,887 (21)% 17,404 18,213 (4)%
Thermal - Domestic (Eskom) 000 t 5,534 7,435 (26)% 6,763 (18)% 26,021 30,989 (16)%
Thermal - Domestic (Non- 000 t 1,822 1,761 3% 1,730 5% 6,844 6,595 4%
Eskom)
Colombia
Thermal - Export 000 t 2,628 3,002 (12)% 2,527 4% 11,074 11,227 (1)%
Australia and Canada – Export metallurgical coal production increased by 11% to 5.5 million
tonnes due to strong operational performances at Grasstree and Moranbah, as well as the
delivery of development coal from Grosvenor. This more than offset the effect of Peace River Coal
being placed on care and maintenance in December 2014 (Q4 2014 production of 0.2 million
tonnes).
Australian export thermal coal production decreased by 38% to 1.2 million tonnes due to expected
lower production from Drayton as the mine nears the end of its life. In addition, a favourable mix at
Dawson led to an increase in higher value metallurgical coal production.
On 20 January 2016 the agreement to sell the Callide thermal coal mine to Batchfire Resources
was announced and remains subject to a number of conditions.
South Africa – Export thermal coal production reduced by 19% to 3.9 million tonnes driven by
strikes (which had a 0.6 million tonnes impact), the planned closure of a section at Goedehoop
and the transition to new reserves at Mafube.
Eskom production decreased by 26% to 5.5 million tonnes predominantly due to reduced demand
from Eskom, as well as safety stoppages impacting the New Denmark mine in November.
Colombia – Cerrejón’s production decreased by 12% to 2.6 million tonnes, due to the impact of
severe dry weather and the suspension of operations due to dust emission levels, which had an
impact on production of ~1 million tonnes in the year.
COPPER
Q4 2015 Q4 2015 2015
Q4 Q4 Q3
Copper vs. vs. 2015 2014 vs.
2015 2014 2015
Q4 2014 Q3 2015 2014
Copper (1) t 181,400 174,800 4% 171,100 6% 708,800 748,100 (5)%
Copper retained
operations(2) t 181,400 147,200 23% 153,100 18% 638,000 643,900 (1)%
(1) Copper production shown on a contained metal basis
(2) Anglo American Norte excluded for all periods
Copper – Copper production increased by 4% to 181,400 tonnes, despite the sale of the AA Norte
assets, effective from 1 September 2015. Production from the retained operations increased by
23%.
Production from Los Bronces increased by 27% to 111,000 tonnes, driven by higher throughput,
grades and recoveries. High levels of precipitation during the latter part of Q3 and into Q4 meant
that throughput restrictions related to water availability were removed, contributing to the improved
performance in the quarter.
At Collahuasi, attributable production increased by 17% to 61,500 tonnes primarily due to higher
grades. The previously reported vibration and structural issues on the two smaller SAG lines were
successfully resolved with a step-change in plant operating times in the fourth quarter, resulting in
a 41% increase in production compared to Q3 2015.
El Soldado production increased by 20% to 8,900 tonnes due to higher grades.
At the end of 2015, Anglo American had 197,631 tonnes of copper provisionally priced at 214 c/lb,
bringing the realised copper price for the full year to 228c/lb. The final price of these sales will be
determined in the 2016 financial year.
NICKEL
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Nickel vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Nickel t 10,500 6,700 57% 6,800 54% 30,300 37,200 (19)%
Nickel – Nickel production increased by 57% to 10,500 tonnes, following the successful rebuild of
the Barro Alto furnaces which are now producing at nameplate capacity. Production from Codemin
increased by 9% to 2,400 tonnes due to higher ore grade.
NIOBIUM
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Niobium vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Niobium t 1,600 1,300 23% 1,800 (11)% 6,300 4,700 34%
Niobium – Niobium production increased by 23% to 1,600 tonnes reflecting the ongoing ramp up of
the BVFR plant. Production is expected to increase to 6,800 tonnes per year once the BVFR plant
reaches nameplate capacity in Q3 2016. This, when combined with certain metallurgical
debottlenecking activities (currently being implemented), will take the total annual capacity to 9,000
tonnes.
PHOSPHATES
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Phosphates vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Phosphates
Concentrate t 355,700 355,600 0% 363,100 (2)% 1,341,400 1,415,700 (5)%
Phosphoric Acid t 63,900 78,600 (19)% 75,600 (15)% 265,100 295,000 (10)%
Fertiliser t 303,400 284,900 6% 294,400 3% 1,110,800 1,112,500 (0)%
Dicalcium phosphate (DCP) t 38,700 44,800 (14)% 33,700 15% 147,300 164,100 (10)%
Phosphates – Concentrate production was unchanged. Phosphoric acid production decreased by
19% mainly due to maintenance activities. Fertiliser production increased 6% as a result of good
performance at the granulation plant. DCP production decreased by 14% as priority was given to
phosphoric acid sales.
PLATINUM
Q4 2015 Q4 2015
Q4 Q4 Q3 2015 vs.
Platinum vs. vs. 2015 2014
2015 2014 2015 2014
Q4 2014 Q3 2015
Refined
Platinum 000 oz 745 574 30% 611 22% 2,459 1,890 30%
Palladium 000 oz 468 358 31% 391 20% 1,595 1,225 30%
Rhodium 000 oz 86 72 20% 78 10% 305 229 33%
Copper – Refined t 4,700 2,600 81% 4,200 12% 16,800 12,500 34%
Copper – Matte (1) t - 1,400 (100)% - 0% 300 6,200 (95)%
Nickel – Refined t 7,300 4,800 52% 6,400 14% 25,400 20,500 24%
Nickel – Matte (1) t - 1,800 (100)% - 0% 400 7,700 (95)%
Gold 000 oz 30 29 2% 23 28% 113 96 18%
Produced ounces(2)
Platinum 000 oz 598 603 (1)% 614 (3)% 2,337 1,870 25%
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte.
(2) In keeping with industry benchmarks, production disclosure has been amended to reflect own mine production and purchases of metal in concentrate.
Previous disclosure of own mine production and purchases of metal in concentrate was converted to equivalent refined production using standard smelting
and refining recoveries.
Platinum – Platinum production was broadly flat at 598,000 ounces, compared to 603,000 ounces
in Q4 2014, with operational improvements at own operations offset by a reduction in purchase of
concentrate ounces from third parties.
Platinum production from own mines and tailings retreatment increased to 398,000 ounces from
389,000 ounces due to higher production from Amandelbult and Unki, partially offset by lower
production at Union and Rustenburg.
Whilst Mogalakwena production was largely flat at 98,000 ounces, Amandelbult increased by 14%
to 121,000 ounces due to improved mining efficiencies, increased concentrator recoveries and the
start-up of opencast mining. Production from Unki also increased by 19% to 19,000 ounces due
to improved mining efficiencies and plant performance.
Rustenburg (including Western Limb Tailings Retreatment) platinum production decreased by
4,000 ounces to 118,000 ounces due to lower grade and safety related stoppages. Production
from Union decreased by 5,000 ounces to 38,000 ounces, mainly due to the closure of the decline
section during Q4 2014.
Independently managed production (mined and purchased) excluding third party purchase of
concentrate, was broadly unchanged at 199,000 ounces.
Refined platinum production increased by 30% to 745,000 ounces, following a return to normal
production after the industrial action and subsequent ramp up in Q4 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
Q4 2015 Q4 2015
Diamonds Q4 Q4 Q3 2015 vs.
vs. vs. 2015 2014
(100% basis) 2015 2014 2015 2014
Q4 2014 Q3 2015
Diamonds 000 carats 7,052 8,366 (16)% 6,012 17% 28,692 32,605 (12)%
De Beers – Diamond production decreased by 16% to 7.1 million carats, reflecting the decision to
reduce production in response to trading conditions.
At Debswana (Botswana), production decreased by 21% to 4.7 million carats as a result of a
reduction in tonnes treated at Jwaneng and Orapa, consistent with the decision to reduce
production in line with trading conditions. Damtshaa (a satellite operation of Orapa Mine) was
placed on care and maintenance from 1 January 2016.
Production at DBCM (South Africa) increased marginally to 1.5 million carats. Venetia’s
production declined, driven by a reduction in tonnes treated, consistent with the decision to reduce
production in line with trading conditions. Voorspoed and Kimberley both increased production,
although this represents a small proportion of overall production.
On 21 January 2016, the completion of the sale of Kimberley mines to Ekapa Minerals was
announced.
Production at Namdeb Holdings (Namibia) decreased by 18% to 0.4 million carats due to mining
being focused on lower grade areas, consistent with the decision to reduce production in line with
trading conditions.
Production in Canada decreased by 8% to 0.4 million carats, due to marginally reduced activity at
Victor and lower grade at Snap Lake. In December 2015, De Beers announced that Snap Lake
would be placed on care and maintenance with immediate effect.
Quarterly production increased by 17% compared with Q3 2015, due to improved grade at Orapa
and as a result of an annual planned six-day plant shutdown at Venetia in Q3.
Rough diamond sales volumes in the quarter were 3.6 million carats (from 3 sights), compared
with 3.0 million carats in Q3 (from 2 sights). This reflected the weaker trading conditions and
higher pipeline stocks that impacted the midstream.
For the full year, volumes decreased by 39% to 19.9 million carats (20.6 million carats on a 100%
basis including all sales by joint ventures).
The De Beers rough price index was on average 8% lower in 2015 than in 2014, with the index
falling by 15% over the course of the year. However, the average realised price at $207 per carat
was 5% higher than in 2014 due to a higher quality average product mix.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure totalled $85 million, a decrease of 23%. Exploration
expenditure for the quarter was $51 million, a decrease of 16%. Evaluation expenditure for the
quarter was $34 million, a decrease of 31%.
NOTE
This Production Report for the fourth quarter ended 31 December 2015 is unaudited.
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 2015 Q4 2015
2015 vs.
Iron Ore (tonnes) Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Kumba Iron Ore
Lump 7,029,100 7,322,300 6,761,800 7,889,900 8,048,000 (4)% (13)% 29,003,100 31,268,800 (7)%
Fines 3,906,100 4,068,600 3,622,900 4,277,500 4,383,600 (4)% (11)% 15,875,100 16,927,700 (6)%
Total Kumba production 10,935,200 11,390,900 10,384,700 12,167,400 12,431,600 (4)% (12)% 44,878,200 48,196,500 (7)%
Sishen 7,661,300 7,669,800 7,176,200 8,885,500 9,286,300 0% (17)% 31,392,800 35,540,600 (12)%
Kolomela 2,853,800 3,347,800 2,880,300 2,972,500 2,727,800 (15)% 5% 12,054,400 11,568,100 4%
Thabazimbi 420,100 373,300 328,200 309,400 417,500 13% 1% 1,431,000 1,087,800 32%
Total Kumba production 10,935,200 11,390,900 10,384,700 12,167,400 12,431,600 (4)% (12)% 44,878,200 48,196,500 (7)%
Kumba sales volumes
RSA export iron ore 10,509,300 9,846,500 11,732,600 11,471,600 11,699,000 7% (10)% 43,560,000 40,467,700 8%
RSA domestic iron ore 533,500 960,700 1,348,000 1,434,600 901,800 (44)% (41)% 4,276,800 4,819,800 (11)%
Minas-Rio
Pellet feed (wet basis) 3,252,500 2,918,800 1,826,200 1,176,700 687,700 11% 373% 9,174,200 687,700 nm
Minas-Rio sales volumes
Export – pellet feed (wet
3,035,000 2,793,900 1,344,400 1,294,300 239,600 9% nm 8,467,600 239,600 nm
basis)
Samancor
Manganese ore(1) 596,000 923,200 805,700 786,700 882,100 (35)% (32)% 3,111,600 3,308,600 (6)%
Manganese alloys(1)(2) 43,500 43,700 53,600 72,800 80,400 0% (46)% 213,600 286,100 (25)%
Samancor sales volumes
Manganese ore 720,200 813,900 720,700 829,900 841,100 (12)% (14)% 3,084,700 3,382,100 (9)%
Manganese alloys 42,000 42,400 55,300 63,600 72,800 (1)% (42)% 203,300 294,800 (31)%
Q4 2015 Q4 2015
2015 vs.
Coal (tonnes) Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Australia
Metallurgical – Export 4,302,100 4,115,000 3,743,800 3,746,900 3,364,400 5% 28% 15,907,900 13,442,300 18%
Coking
Metallurgical - Export 1,182,200 1,360,500 1,508,800 1,248,800 1,395,800 (13)% (15)% 5,300,300 5,990,800 (12)%
PCI 5,484,300 5,475,500 5,252,600 4,995,700 4,760,200 0% 15% 21,208,200 19,433,100 9%
Thermal - Export 1,154,300 1,366,400 1,326,600 1,433,200 1,871,600 (16)% (38)% 5,280,500 5,173,900 2%
Thermal - Domestic 1,978,800 1,800,500 1,622,400 1,649,900 1,966,300 10% 1% 7,051,600 7,114,600 (1)%
3,133,100 3,166,900 2,949,000 3,083,100 3,837,900 (1)% (18)% 12,332,100 12,288,500 0%
Canada
Metallurgical - Export - - - - 160,200 nm nm - 1,393,600 nm
Coking
Metallurgical - Export - - - - 11,200 nm nm - 79,000 nm
PCI - - - - 171,400 nm nm - 1,472,600 nm
South Africa
Thermal - Export 3,878,000 4,887,200 4,296,700 4,341,700 4,782,800 (21)% (19)% 17,403,600 18,213,100 (4)%
Thermal - Domestic 5,533,500 6,763,000 6,774,000 6,950,700 7,434,600 (18)% (26)% 26,021,200 30,988,500 (16)%
(Eskom)
Thermal - Domestic 1,821,500 1,730,400 1,590,000 1,702,000 1,761,400 5% 3% 6,843,900 6,594,900 4%
(Non-Eskom) 11,233,000 13,380,600 12,660,700 12,994,400 13,978,800 (16)% (20)% 50,268,700 55,796,500 (10)%
Colombia
Thermal - Export 2,628,100 2,526,800 2,944,400 2,975,000 3,002,300 4% (12)% 11,074,300 11,227,000 (1)%
Total Metallurgical coal 5,484,300 5,475,500 5,252,600 4,995,700 4,931,600 - 11% 21,208,200 20,905,700 1%
production
Total Export Thermal 7,660,400 8,780,400 8,567,700 8,749,900 9,656,700 (13)% (21)% 33,758,400 34,614,000 (2)%
coal production
Total Domestic Thermal 9,333,800 10,293,900 9,986,400 10,302,600 11,162,300 (9)% (16)% 39,916,700 44,698,000 (11)%
coal production
Total Coal production 22,478,500 24,549,800 23,806,700 24,048,200 25,750,600 (8)% (13)% 94,883,300 100,217,700 (5)%
Sales volumes (own
mined)
Australia and Canada
Metallurgical - Export(4) 5,396,000 5,480,900 5,103,100 5,113,400 5,025,600 (2)% 7% 21,093,400 20,568,200 3%
Thermal - Export 1,341,700 1,638,600 1,505,800 1,418,200 2,345,400 (18)% (43)% 5,904,200 5,966,200 (1)%
Thermal - Domestic 1,915,800 1,871,900 1,670,500 1,591,000 1,989,400 2% (4)% 7,049,300 7,293,100 (3)%
South Afric
Thermal - Export 5,188,700 4,568,600 4,967,400 5,195,200 5,139,300 14% 1% 19,919,800 17,572,800 13%
Thermal - Domestic 6,763,300 7,977,783 8,203,900 8,746,600 8,770,400 (15)% (23)% 31,691,600 37,217,300 (15)%
Colombia
Thermal - Export 2,565,100 2,853,400 2,765,700 3,005,100 2,732,000 (10)% (6)% 11,189,300 11,314,000 (1)%
Q4 2015 Q4 2015
2015 vs.
Coal by mine (tonnes) Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Australia
Callide 2,295,200 1,988,900 1,789,300 1,857,000 2,164,700 15% 6% 7,930,400 7,557,000 5%
Capcoal 2,283,800 2,353,300 1,793,500 2,259,100 2,074,300 (3)% 10% 8,689,700 7,642,800 14%
(incl. Grasstree)
Dawson 1,025,800 1,249,400 1,375,500 663,800 1,074,800 (18)% (5)% 4,314,500 4,240,200 2%
Drayton 351,300 600,400 462,800 707,500 920,200 (41)% (62)% 2,122,000 3,104,800 (32)%
Foxleigh 376,300 494,800 511,200 478,300 579,200 (24)% (35)% 1,860,600 2,034,500 (9)%
Grosvenor 179,100 147,300 121,800 51,600 - 22% 0% 499,800 - 100%
Jellinbah 872,700 798,400 766,400 763,900 757,100 9% 15% 3,201,500 2,923,700 10%
Moranbah North 1,233,200 1,009,900 1,381,100 1,297,600 1,027,800 22% 20% 4,921,800 4,218,600 17%
8,617,400 8,642,400 8,201,600 8,078,800 8,598,100 0% 0% 33,540,300 31,721,600 6%
Canada
Peace River Coal - - - - 171,400 - nm - 1,472,600 nm
- - - - 171,400 - nm - 1,472,600 nm
South Africa
Goedehoop 896,000 1,151,200 1,106,100 1,133,800 1,245,800 (22)% (28)% 4,287,200 4,771,600 (10)%
Greenside 897,200 1,059,600 992,300 927,500 1,010,700 (15)% (11)% 3,876,600 3,624,100 7%
Zibulo 1,306,400 1,592,500 1,385,000 1,281,100 1,367,900 (18)% (4)% 5,565,000 5,053,800 10%
Kleinkopje 824,900 895,200 572,000 860,300 950,200 (8)% (13)% 3,152,300 3,911,800 (19)%
Landau 1,079,200 1,144,600 1,065,000 979,900 1,208,800 (6)% (11)% 4,268,700 4,178,400 2%
Mafube 366,500 370,100 344,500 361,500 414,700 (1)% (12)% 1,442,500 1,675,400 (14)%
New Vaal 2,811,500 3,576,700 4,211,200 3,548,600 3,701,400 (21)% (24)% 14,148,100 16,672,800 (15)%
New Denmark 643,000 881,600 441,100 872,600 1,312,400 (27)% (51)% 2,838,300 3,767,900 (25)%
Kriel 1,185,900 1,613,000 1,546,000 1,813,300 1,462,400 (26)% (19)% 6,158,200 6,878,100 (10)%
Isibonelo 1,222,400 1,096,100 997,500 1,215,800 1,304,500 12% (6)% 4,531,800 5,262,600 (14)%
11,233,000 13,380,600 12,660,700 12,994,400 13,978,800 (16)% (20)% 50,268,700 55,796,500 (10)%
Colombia
Carbones del Cerrejón 2,628,100 2,526,800 2,944,400 2,975,000 3,002,300 4% (12)% 11,074,300 11,227,000 (1)%
Total Coal production 22,478,500 24,549,800 23,806,700 24,048,200 25,750,600 (8)% (13)% 94,883,300 100,217,700 (5)%
Q4 2015 Q4 2015
Copper (tonnes) on a contained metal 2015 vs.
basis unless stated otherwise(5) Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014 2014
Q3 2015 Q4 2014
Collahuasi 100% basis (Anglo American
share 44%)
Ore mined 22,468,800 18,879,300 20,130,700 18,094,700 15,594,200 19% 44% 79,573,500 65,845,300 21%
Ore processed - Oxide - 1,484,900 1,835,700 1,333,300 1,552,300 (100)% (100)% 4,653,900 6,657,500 (30)%
Ore processed - Sulphide 12,801,300 9,464,800 10,464,200 11,060,300 11,991,600 35% 7% 43,790,600 48,936,100 (11)%
Ore grade processed - Oxide - 0.63 0.60 0.69 0.68 (100)% (100)% 0.63 0.72 (12)%
(% ASCu)(6)
Ore grade processed - Sulphide (% TCu)(7) 1.25 1.09 1.15 1.08 1.1 14% 14% 1.15 1.08 6%
Production - Copper cathode 3,100 6,000 6,600 6,500 9,100 (48)% (66)% 22,200 25,000 (11)%
Production - Copper in concentrate 136,800 92,800 105,500 98,000 110,400 47% 24% 433,100 445,400 (3)%
Total copper production for Collahuasi 139,900 98,800 112,100 104,500 119,500 42% 17% 455,300 470,400 (3)%
Anglo American’s share of copper 61,500 43,500 49,300 46,000 52,600 41% 17% 200,300 207,000 (3)%
production for Collahuasi(8)
Anglo American Sur
Los Bronces mine(9)
Ore mined 13,252,200 10,112,600 13,345,700 13,548,000 15,655,600 31% (15)% 50,258,500 57,666,200 (13)%
Marginal ore mined 11,673,100 7,733,600 10,929,100 8,916,800 8,993,400 51% 30% 39,252,600 26,236,100 50%
Ore processed – Sulphide 14,115,200 11,584,300 10,447,300 9,250,100 12,739,000 22% 11% 45,396,900 54,147,700 (16)%
Ore grade processed - Sulphide (% TCu) 0.83 0.87 0.98 1.07 0.75 (5)% 10% 0.92 0.78 18%
Production - Copper cathode 9,700 8,500 7,800 9,000 8,300 14% 17% 35,000 36,200 (3)%
101,300 90,100 89,600 85,700 78,900 12% 28% 366,700 368,300 (0)%
Production - Copper in concentrate
Production total 111,000 98,600 97,400 94,700 87,200 13% 27% 401,700 404,500 (1)%
El Soldado mine(9)
Ore mined 1,280,000 951,600 1,915,700 1,060,800 563,900 35% 127% 5,208,100 3,118,400 67%
Ore processed - Sulphide 1,557,500 1,441,800 1,752,100 1,214,000 1,762,700 8% (12)% 5,965,400 7,203,600 (17)%
Ore grade processed - Sulphide (% TCu) 0.79 0.90 0.71 0.66 0.55 (12)% 44% 0.77 0.58 31%
Production - Copper cathode - - - 200 400 - (100)% 200 1200 (83)%
Production - Copper in concentrate 8,900 11,000 10,000 5,900 7,000 (19)% 27% 35,800 31,200 15%
Production total 8,900 11,000 10,000 6,100 7,400 (19)% 20% 36,000 32,400 11%
Chagres Smelter(9)
Ore smelted 35,900 39,900 36,200 37,100 28,900 (10)% 24% 149,100 132,100 13%
Production 34,900 38,900 35,300 36,000 28,300 (10)% 23% 145,100 128,500 13%
Total copper production for Anglo
119,900 109,600 107,400 100,800 94,600 9% 27% 437,700 436,900 0%
American Sur
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide - 718,400 1,043,300 1,073,800 1,059,300 (100)% (100)% 2,835,500 4,402,400 (36)%
Ore grade processed - Sulphide (% TCu) - 0.75 0.79 0.75 0.75 (100)% (100)% 0.76 0.69 10%
Production - Copper cathode - 5,000 8,500 6,900 7,300 (100)% (100)% 20,400 26,700 (24)%
Production - Copper in concentrate - 4,500 6,800 6,800 6,800 (100)% (100)% 18,100 25,700 (30)%
Production total - 9,500 15,300 13,700 14,100 (100)% (100)% 38,500 52,400 (27)%
Mantoverde mine
Ore processed - Oxide - 1,838,000 2,487,900 2,279,400 2,582,100 (100)% (100)% 6,605,300 10,312,800 (36)%
Ore processed - Marginal ore - 1,658,000 2,790,000 1,496,800 2,274,500 (100)% (100)% 5,944,800 8,646,100 (31)%
Ore grade processed - Oxide (% ASCu) - 0.51 0.54 0.51 0.49 (100)% (100)% 0.52 0.48 7%
Ore grade processed - Marginal ore (% - 0.20 0.21 0.22 0.23 (100)% (100)% 0.21 0.23 (9)%
ASCu)
Production - Copper cathode - 8,500 12,500 11,300 13,500 (100)% (100)% 32,300 51,800 (38)%
Total copper production for Anglo - 18,000 27,800 25,000 27,600 (100)% (100)% 70,800 104,200 (32)%
American Norte
Total Copper segment copper production 259,800 226,400 247,300 230,300 241,700 15% 7% 963,800 1,011,500 (5)%
Total Attributable copper production(10) 181,400 171,100 184,500 171,800 174,800 6% 4% 708,800 748,100 (5)%
Total Attributable payable copper 175,300 165,800 179,000 166,800 169,700 6% 3% 686,900 725,862 (5)%
production
Total Attributable sales volumes 183,000 178,400 179,400 164,800 187,400 3% (2)% 705,600 755,100 (7)%
Total Attributable payable sales volumes 176,700 172,900 173,800 160,100 181,700 2% (3)% 683,500 732,639 (7)%
Third party sales – Mantos Copper(11) 41,400 - - - - nm nm 41,400 - nm
Q4 2015 Q4 2015
Nickel (tonnes) 2015 vs.
unless stated otherwise(12) Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Barro Alto Ore mined 453,200 1,351,700 903,300 235,300 400,500 (66)% 13% 2,943,600 2,510,400 17%
Ore processed 566,400 330,700 281,100 294,600 276,000 71% 105% 1,472,800 1,827,400 (19)%
Ore grade processed - %Ni 1.77 1.79 1.80 1.77 1.86 (1)% (5)% 1.78 1.81 (2)%
Production 8,100 4,700 4,100 4,400 4,500 72% 80% 21,300 28,300 (25)%
Codemin
Ore mined - - 8,600 - - - - 8,600 6,800 26%
Ore processed 154,000 140,000 145,700 151,400 151,500 10% 2% 591,100 593,600 (0)%
Ore grade processed - %Ni 1.69 1.70 1.71 1.66 1.66 (1)% 2% 1.69 1.67 1%
Production 2,400 2,100 2,200 2,300 2,200 14% 9% 9,000 8,900 1%
Total Nickel segment nickel 10,500 6,800 6,300 6,700 6,700 54% 57% 30,300 37,200 (19)%
production
Sales volumes 9,500 6,400 8,600 7,500 8,400 48% 13% 32,000 36,100 (11)%
Niobium Q4 2015 Q4 2015 2015 vs.
(tonnes) unless stated Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014 2014
otherwise Q3 2015 Q4 2014
Niobium
Ore mined 637,700 597,300 605,600 291,100 166,300 7% 283% 2,131,700 985,900 116%
Ore processed 580,700 578,400 570,400 501,800 377,700 0% 54% 2,231,300 1,084,000 106%
Ore grade processed - %Nb 1.00 0.93 0.93 0.96 1.05 8% (5)% 0.96 1.04 (8)%
Production 1,600 1,800 1,600 1,300 1,300 (11)% 23% 6,300 4,700 34%
Sales volumes 800 1,400 1,500 1,300 1,100 (43)% (27)% 5,100 4,600 11%
Phosphates Q4 2015 Q4 2015 2015 vs.
(tonnes) unless stated Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014 2014
otherwise Q3 2015 Q4 2014
Phosphates
Concentrate 355,700 363,100 303,300 319,300 355,600 (2)% 0% 1,341,400 1,415,700 (5)%
Concentrate grade - %P2O5 36.7 36.8 36.9 36.9 36.8 (0)% (0)% 36.8 37.0 (1)%
Phosphoric acid 63,900 75,600 62,400 63,200 78,600 (15)% (19)% 265,100 295,000 (10)%
Fertiliser 303,400 294,400 274,200 238,800 284,900 3% 6% 1,110,800 1,112,500 (0)%
High analysis fertiliser 36,700 42,400 56,100 37,500 50,200 (13)% (27)% 172,700 184,700 (6)%
Low analysis fertiliser 266,700 252,000 218,100 201,200 234,600 6% 14% 938,100 927,700 1%
Dicalcium phosphate (DCP) 38,700 33,700 38,700 36,200 44,800 15% (14)% 147,300 164,100 (10)%
Fertiliser sales volumes 194,400 339,600 317,500 208,500 277,400 (43)% (30)% 1,060,100 1,096,600 (3)%
Q4 2015 Q4 2015
2015 vs.
Platinum Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Refined production
Platinum (troy oz) 744,900 610,900 560,600 542,400 573,700 22% 30% 2,458,800 1,889,500 30%
Palladium (troy oz) 468,400 390,700 387,700 348,100 357,700 20% 31% 1,594,900 1,225,400 30%
Rhodium (troy oz) 85,700 77,600 76,900 65,000 71,700 10% 20% 305,200 229,400 33%
Copper refined (tonnes)(13) 4,700 4,200 4,000 3,900 2,600 12% 81% 16,800 12,500 34%
Copper matte (tonnes)(13) - - - 300 1,400 0% (100)% 300 6,200 (95)%
Nickel refined (tonnes)(13) 7,300 6,400 6,000 5,700 4,800 14% 52% 25,400 20,500 24%
Nickel matte (tonnes)(13) - - - 400 1,800 0% (100)% 400 7,700 (95)%
Gold (troy oz) 29,500 23,000 30,400 30,100 28,900 28% 2% 113,000 95,600 18%
Produced ounces
Platinum (troy oz) 598,000 614,300 580,900 544,100 602,900 (3)% (1)% 2,337,300 1,869,900 25%
4E built-up head grade (g/tonne 3.24 3.27 3.27 3.14 3.19 (1)% 2% 3.23 3.00 8%
milled)(13)
Platinum sales volumes 621,800 690,100 635,600 523,900 523,400 (10)% 19% 2,471,400 2,114,800 17%
Q4 2015 Q4 2015
2015 vs.
De Beers Q4 2015 Q3 2015 Q2 2015 Q1 2015 Q4 2014 vs. vs. 2015 2014
2014
Q3 2015 Q4 2014
Carats recovered
100% basis
Orapa 2,516,000 1,959,000 2,792,000 2,610,000 2,732,000 28% (8)% 9,877,000 12,074,000 (18)%
Letlhakane 73,000 134,000 111,000 188,000 83,000 (46)% (12)% 506,000 548,000 (8)%
Damtshaa 59,000 45,000 60,000 57,000 94,000 31% (37)% 221,000 303,000 (27)%
Jwaneng 2,101,000 1,936,000 2,950,000 2,777,000 3,080,000 9% (32)% 9,764,000 11,312,000 (14)%
Debswana 4,749,000 4,074,000 5,913,000 5,632,000 5,989,000 17% (21)% 20,368,000 24,237,000 (16)%
Namdeb 119,000 148,000 131,000 96,000 121,000 (20)% (2)% 494,000 613,000 (19)%
Debmarine 286,000 318,000 300,000 366,000 375,000 (10)% (24)% 1,270,000 1,273,000 (0)%
Namibia
Namdeb 405,000 466,000 431,000 462,000 496,000 (13)% (18)% 1,764,000 1,886,000 (6)%
Holdings
Kimberley 242,000 192,000 182,000 221,000 202,000 26% 20% 837,000 722,000 16%
Venetia 1,033,000 712,000 763,000 624,000 1,060,000 45% (3)% 3,132,000 3,201,000 (2)%
Voorspoed 184,000 132,000 172,000 216,000 140,000 39% 31% 704,000 711,000 (1)%
DBCM 1,459,000 1,036,000 1,117,000 1,061,000 1,402,000 41% 4% 4,673,000 4,634,000 1%
Snap Lake 280,000 283,000 352,000 328,000 301,000 (1)% (7)% 1,243,000 1,201,000 3%
Victor 159,000 153,000 150,000 182,000 178,000 4% (11)% 644,000 647,000 (0)%
De Beers 439,000 436,000 502,000 510,000 479,000 1% (8)% 1,887,000 1,848,000 2%
Canada
Total carats
recovered 7,052,000 6,012,000 7,963,000 7,665,000 8,366,000 17% (16)% 28,692,000 32,605,000 (12)%
Sales volumes (15)
Total sales volume -
carats (100%) (Mct) 3.6 3.0 5.4 8.6 8.0 20% (55)% 20.6 34.4 (40)%
Total consolidated
sales volume - 3.6 3.0 4.9 8.4 7.5 20% (52)% 19.9 32.7 (39)%
carats (Mct)
(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) Relates to sales made on behalf of Mantos Copper (previously Mantos Blancos and Mantoverde mines)
(12) Excludes Anglo American Platinum’s nickel production
(13) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte.
(14) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
(15) Number of Sights (sales cycles) in each quarter as follows: Q4 2015: 3; Q3 2015: 2; Q2 2015: 2; Q1 2015: 3; Q4 2014: 3
ACHIEVED PRICES SUMMARY
FY 2015 H2 2015
Average achieved prices FY 2015 FY 2014 H2 2015 H1 2015 vs. vs.
FY 2014 H1 2015
Iron Ore – FOB prices
Kumba Export (US$/dmt) 54 91 46 61 (41)% (25)%
Minas-Rio (US$/wmt) 41 57 37 50 (28)% (26)%
Coal
Australia and Canada
Metallurgical – Export (U$/t) 90 111 81 100 (19)% (19)%
Thermal – Export (U$/t) 55 72 50 61 (24)% (18)%
Thermal – Domestic (U$/t, FOR) 28 35 28 29 (20)% (3)%
South Africa
Thermal - Export (U$/t) 55 70 51 60 (21)% (15)%
Thermal – Domestic (U$/t, FOR) 19 19 20 18 (2)% 12%
Colombia
Thermal – Export (U$/t) 55 67 52 58 (17)% (10)%
Copper (USc/lb) 228 300 203 253 (24)% (20)%
Nickel (USc/lb) 498 731 415 578 (32)% (28)%
PGMs
Platinum (US$/oz) 1,051 1,386 955 1,160 (24)% (18)%
Palladium (US$/oz) 703 803 631 779 (12)% (19)%
Rhodium (US$/oz) 958 1,147 786 1,133 (16)% (31)%
Basket price (US$/oz) 1,905 2,413 1,682 2,157 (21)% (22)%
Basket price (ZAR/oz) 24,203 26,219 22,837 25,748 (8)% (11)%
De Beers
Total sales volume – carats 20.6 34.4 6.6 14.0 (40)% (53)%
(100%) (Mct)
Total consolidated sales volume – 19.9 32.7 6.6 13.3 (39)% (50)%
carats (Mct)
Consolidated average realised 207 198 209 206 5% 1%
price ($/Ct)
De Beers price index (1) 135 147 127 139 (8)% (9)%
(1) Average of the De Beers price index for the Sights within the twelve month period. De Beers price index relative to 100 as at December 2006
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.
28 January 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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
Marcelo Esquivel Edward Kite
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2178
South Africa
Pranill Ramchander
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
Date: 28/01/2016 10:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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