Wrap Text
Anglo American plc - Production Report for the third quarter ended 30 September 2016
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
NSX Share Code: ANM
ISIN number: GB00B1XZS820
25 October 2016
Anglo American plc
Production Report for the third quarter ended 30 September 2016
OVERVIEW
% vs. % vs.
Q3 2016 Q3 2015 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Diamonds (Mct)(1) 6.3 6.0 4% 19.6 21.6 (9)%
Platinum (produced ounces) (koz)(2) 619 614 1% 1,772 1,739 2%
Copper retained operations (t)(3)(4)(5) 139,800 153,100 (9)% 430,500 456,600 (6)%
Nickel (t)(6) 11,300 6,800 66% 33,600 19,800 70%
Iron ore – Kumba (Mt) 11.8 11.4 3% 29.5 33.9 (13)%
Iron ore – Minas-Rio (Mt)(7) 4.5 2.9 53% 11.3 5.9 91%
Export metallurgical coal (Mt) 5.5 5.5 1% 15.5 15.7 (1)%
Export thermal coal (Mt)(8) 8.8 8.8 0% 24.5 26.1 (6)%
(1) De Beers production on 100% basis except the Gahcho Kué joint venture which is on an attributable 51% basis;
(2) Reflects own mine production and purchases of metal in concentrate.
(3) Copper production from the Copper business unit;
(4) Copper production shown on a contained metal basis;
(5) 2015 Copper production normalised for the sale of Anglo American Norte;
(6) Nickel production from the Nickel business unit;
(7) Wet basis;
(8) Export thermal coal includes production from Australia, South Africa and Colombia;
(9) Copper equivalent production is normalised for the sale of Anglo American Norte and the Kimberley mine, and to reflect Snap Lake
being placed on care and maintenance.
Mark Cutifani, Anglo American Chief Executive, said “Operational improvements continue across the portfolio, delivering a 4% production
increase on a copper equivalent basis(9) in the third quarter, and a 12% increase compared to Q2 2016. The latter increase is largely
due to the strong recovery at Kumba’s Sishen mine, a 46% production increase, following the successful completion of its restructuring.
In our diamond and platinum businesses we continue to maintain discipline on volumes by mining to demand, whilst the ramp-ups at Minas-
Rio and Grosvenor are progressing well, and Barro Alto has now reached nameplate capacity. The modestly higher production at De Beers
is reflective of improved market conditions relative to Q3 2015, but we maintain a cautious outlook.”
- Diamond production increased by 4% to 6.3 million carats compared with Q3 2015 when production was reduced in response to the
prevailing trading conditions.
- Platinum production (expressed as metal in concentrate)(2) was broadly unchanged, increasing by 1% to 619,000 ounces. Refined
platinum production increased by 14% to 694,700 ounces, following recovery at the Precious Metals Refinery.
- Copper production from the retained operations decreased by 9% to 139,800 tonnes. Expected lower grades at Los Bronces and the
impact of strikes at Los Bronces and El Soldado, were partly offset by strong plant performance and higher grades at Collahuasi.
- Nickel production increased by 66% to 11,300 tonnes following the successful completion of the Barro Alto furnace rebuilds in 2015.
- Iron ore production from Kumba increased by 3% (33% vs. Q2 2016) to 11.8 million tonnes due to productivity improvements at Sishen
following its restructuring.
- Iron ore production from Minas-Rio increased by 53% to 4.5 million tonnes (wet basis) as the operation continues to ramp-up.
- Export metallurgical coal production was broadly unchanged, increasing by 1% to 5.5 million tonnes due to the ramp-up at Grosvenor
and a longwall move at Moranbah in Q3 2015, offsetting geological issues at Grasstree and the sale of Foxleigh, which completed on
30 August 2016.
- Export thermal coal production remained flat at 8.8 million tonnes. An increase in production at Cerrejón was offset by a ramp-down
at Drayton where mining activities will cease in Q4 2016.
DE BEERS
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Diamonds(1) Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Debswana 000 carats 4,549 4,074 12% 5,184 (12)% 15,061 15,619 (4)%
Namdeb Holdings 000 carats 405 466 (13)% 296 37% 1,145 1,359 (16)%
DBCM 000 carats 1,094 1,036 6% 821 33% 2,847 3,214 (11)%
De Beers Canada 000 carats 225 436 (48)% 147 53% 534 1,448 (63)%
Total carats recovered 000 carats 6,273 6,012 4% 6,448 (3)% 19,587 21,640 (9)%
(1) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
De Beers – Diamond production increased by 4% to 6.3 million carats compared with Q3 2015 when production was reduced in response to
the prevailing trading conditions.
At Debswana (Botswana), production increased by 12% to 4.5 million carats with production at Jwaneng increasing by 47% as a result of
planned maintenance in Q3 2015 being prioritised in light of trading conditions. This was partly offset by a planned 22% decrease at
Orapa to align aggregate production to trading conditions.
Production at DBCM (South Africa) increased by 6% to 1.1 million carats largely as a result of processing higher grades at Venetia and
increased throughput at Voorspoed. This was partly offset by the early completion of the sale of Kimberley Mines in January 2016.
Production at Namdeb Holdings (Namibia) decreased by 13% to 0.4 million carats with lower grades at Namdeb Land, and the Debmar Pacific
vessel being in port for planned maintenance in Q3 2016 at Debmarine Namibia.
Production in Canada decreased by 48% to 0.2 million carats due to Snap Lake being placed on care and maintenance in December 2015.
This was partially offset by first production at Gahcho Kué. Gahcho Kué was officially opened on 20 September 2016 and ramp-up is
progressing well.
Consolidated rough diamond sales in Q3 2016 increased by 77% to 5.3 million carats. This increase reflected improved trading conditions
from those experienced in Q3 2015, when higher pipeline stock impacted midstream demand.
Full year guidance
Full year production guidance remains unchanged at 26-28 million carats, subject to trading conditions.
PLATINUM
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Platinum Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Produced ounces(1)
Platinum 000 oz 619 614 1% 586 6% 1,772 1,739 2%
Refined
Platinum 000 oz 695 611 14% 748 (7)% 1,703 1,714 (1)%
Palladium 000 oz 413 391 6% 472 (13)% 1,067 1,127 (5)%
Rhodium 000 oz 87 78 12% 91 (4)% 225 220 3%
Copper – Refined t 3,800 4,200 (10)% 3,700 3% 10,800 12,100 (11)%
Copper – Matte(2) t 0 0 0% 0 0% 0 300 (100)%
Nickel – Refined t 7,100 6,400 11% 6,400 11% 19,200 18,100 6%
Nickel – Matte(2) t 0 0 0% 0 0% 0 400 (100)%
Gold 000 oz 24 23 5% 22 8% 74 84 (11)%
(1) Reflects own mine production and purchases of metal in concentrate.
(2) Copper and nickel refined through third parties is shown as production of copper matte and nickel matte.
Platinum – Production (metal in concentrate) was broadly unchanged, increasing by 1% to 619,100 ounces.
Mogalakwena production increased by 12% to 100,700 ounces. This was driven by a 19% increase in tonnes milled due to increased plant
efficiencies and throughput, though Q3 2015 was impacted by community disruption. The increase is partially offset by a return to
normalised grades of 2.92g/t, with normalised grades ranging between 2.8g/t to 3.0g/t.
Amandelbult production was broadly unchanged, increasing by 1% to 128,300 ounces.
Unki production increased by 16% to 18,200 ounces. Improved underground mining efficiencies resulted in a 5% increase in tonnes milled,
complemented by a 9% increase in grade.
Independently managed production (mined and purchased, but excluding third party purchase of concentrate) was broadly unchanged,
decreasing by 1% to 207,100 ounces, driven primarily by Bokoni due to the closure of two shafts in Q4 2015. This was offset by strong
performance at Modikwa, Kroondal and BRPM.
Production from Rustenburg operations including the Western Limb Tailings Retreatment decreased by 3% to 120,900 ounces. Production was
impacted by two fatalities in Q3 2016.
Following the restructuring at Union, the mine continued to perform in line with its optimised mine plan, maintaining production at
37,700 ounces, despite a reduction in labour.
Refined platinum production increased by 14% to 694,600 ounces as a result of processing additional matte material that had built-up
after a Section 54 safety stoppage in Q1 2016 at the Precious Metals Refinery.
As announced by Anglo American Platinum on 13 September 2016, following the run-out Platinum’s Waterval Smelter on 10 September 2016,
the furnace rebuild has been brought forward from the planned date in 2018, and will proceed in Q4 2016. This has impacted Q3 2016
refined production by c.6,000 ounces and is now estimated to impact full year refined production by c.75,000 (previously 70,000-
100,000) ounces. The furnace rebuild will result in a build-up of concentrate ahead of being smelted, however this will be processed in
full by the end of 2017. Mining and concentrating activities are unaffected, therefore there is no change to the full year production
guidance.
Full Year Guidance
Full year production guidance (metal in concentrate) remains unchanged at between 2.3-2.4 million ounces.
COPPER
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Copper(1) Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Collahuasi (44% share) t 57,000 43,500 31% 56,200 1% 164,300 138,800 18%
Los Bronces mine t 72,100 98,600 (27)% 75,600 (5)% 232,900 290,700 (20)%
Copper retained operations(2) t 139,800 153,100 (9)% 144,200 (3)% 430,500 456,600 (6)%
Total attributable copper production t 139,800 171,100 (18)% 144,200 (3)% 430,500 527,400 (18)%
(1) Copper production shown on a contained metal basis
(2) Anglo American Norte excluded for all periods
Copper – Copper production from the retained operations (excluding AA Norte assets sold effective 1 September 2015) decreased by 9%
to 139,800 tonnes and by 3% compared to Q2 2016.
Production from Los Bronces decreased by 27% to 72,100 tonnes due to expected lower grades (0.65% vs 0.87%) mainly as a consequence of
lower mine development in higher grade areas in H1 following severe weather, as previously reported. In addition, operations were
disrupted by a seven day strike in September (c.7kt impact on production).
At Collahuasi, attributable production increased by 31% to 57,000 tonnes due to higher grades (1.23% vs. 1.09%) and continued strong
plant performance. Significant maintenance to the SAG lines also took place in Q3 2015.
El Soldado production decreased by 3% to 10,700 tonnes due largely to the impact of a 13-day strike that took place in July
(c.4kt impact on production).
Full Year Guidance
Full year guidance for 2016 remains at 570,000 – 600,000 tonnes.
NICKEL
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Nickel Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Nickel t 11,300 6,800 66% 11,100 2% 33,600 19,800 70%
Nickel – Nickel production increased by 66% to 11,300 tonnes following the successful rebuild of both Barro Alto furnaces, which are
now producing at nameplate capacity. Production from Codemin increased by 10% to 2,300 tonnes.
Full Year Guidance
Full year production guidance remains unchanged at 45,000 – 47,000 tonnes.
NIOBIUM
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Niobium Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Niobium t 2,100 1,800 17% 1,200 75% 4,700 4,700 0%
Niobium – Niobium production increased by 17% to 2,100 tonnes reflecting the continued ramp-up of the BVFR plant, with record
production achieved in July.
The sale of the Niobium and Phosphates businesses completed as at the end of 30 September 2016.
PHOSPHATES
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Phosphates Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Phosphates
Concentrate t 342,400 363,100 (6)% 358,000 (4)% 1,033,400 985,700 5%
Phosphoric acid t 80,900 75,600 7% 73,600 10% 233,600 201,200 16%
Fertiliser t 303,500 294,400 3% 285,900 6% 864,300 807,400 7%
Dicalcium phosphate (DCP) t 40,900 33,700 21% 41,500 (1)% 113,900 108,600 5%
Phosphates – Production of concentrate, phosphoric acid and fertiliser was largely unchanged. DCP production increased by 21%,
driven by improved operational stability and increased phosphoric acid availability (due to both higher production and product mix
optimisation).
The sale of the Niobium and Phosphates businesses completed as at the end of 30 September 2016.
IRON ORE AND MANGANESE
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Iron Ore and Manganese Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Iron ore – Kumba 000 t 11,760 11,391 3% 8,864 33% 29,548 33,943 (13)%
Iron ore – Minas-Rio(1) 000 t 4,452 2,919 53% 3,484 28% 11,286 5,922 91%
Manganese ore(2) 000 t 762 923 (17)% 791 (4)% 2,329 2,516 (7)%
Manganese alloys(3) 000 t 39 44 (11)% 30 31% 101 170 (41)%
(1) Wet basis
(2) Saleable production
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore – Iron ore production increased by 3% to 11.8 million tonnes.
Sishen production increased by 9% (46% against Q2 2016) to 8.3 million tonnes underpinned by higher quality feedstock material and
improved plant yields. The restructuring has been completed and the mine successfully transitioned to a 3-shift roster system in
September 2016 which is expected to result in further improvements in equipment efficiencies over the medium term. Consistent with the
mine’s lower cost pit configuration, waste removal decreased to 35 million tonnes compared to 60 million tonnes in Q3 2015. Waste run
rates remain in line with the full year guidance.
Kolomela production was broadly unchanged at 3.4 million tonnes.
Export sales increased by 5% to 10.3 million tonnes reflecting higher production. Total finished product stocks were 3.1 million
tonnes, compared with 2.3 million tonnes at 30 June 2016.
Full Year Guidance
Full year production guidance for Sishen remains unchanged at ~27 million tonnes and waste volumes of between 135-150 million tonnes.
Kolomela is expected to marginally exceed its full year guided production of ~12 million tonnes, with a commensurate increase in waste,
which has previously been guided at 46-48 million tonnes.
Iron Ore Brazil – Iron ore production from Minas-Rio increased to 4.5 million tonnes (wet basis) during Q3 2016, a 28% increase
compared to Q2 2016, as the operation continues its ramp-up.
In July 2016, a provisional licence approval was granted and allowed immediate access to the next tranche of reserves, which brought
forward an increase in availability and reduction in variability of run-of-mine material, leading to overall improved operational
performance in Q3 2016. The final approval of this licence was obtained in October 2016.
Full Year guidance
Full year production guidance for Iron Ore Brazil remains unchanged at 15-17 million tonnes (wet basis).
Manganese ore – Manganese ore production decreased by 17% from Q3 2015 due to revised production levels in response to market
conditions. The mines are now running at the optimised rate following the decision to stop work at the South African Wessels
underground mine following a fatality in June 2016.
Manganese alloy – Manganese alloy production decreased by 11% as the South African Manganese operations continue to only operate one
of its four furnaces due to market conditions.
COAL
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Coal Q3 2016 Q3 2015 Q3 2015 Q2 2016 Q2 2016 YTD 2016 YTD 2015 YTD 2015
Australia
Metallurgical – Export 000 t 5,507 5,476 1% 5,483 0% 15,516 15,724 (1)%
Thermal – Export 000 t 1,113 1,366 (19)% 1,107 1% 3,286 4,126 (20)%
Thermal – Domestic 000 t 1,682 1,801 (7)% 1,717 (2)% 4,892 5,073 (4)%
South Africa
Thermal – Export 000 t 4,751 4,887 (3)% 4,656 2% 13,383 13,526 (1)%
Thermal - Domestic (Eskom) 000 t 8,084 6,763 20% 6,709 20% 21,185 20,488 3%
Thermal - Domestic (Non- Eskom) 000 t 1,856 1,730 7% 1,824 2% 5,484 5,022 9%
Colombia
Thermal – Export 000 t 2,928 2,527 16% 2,330 26% 7,867 8,446 (7)%
Australia – Export metallurgical coal production was broadly unchanged, increasing by 1% to 5.5 million tonnes due to production
ramping up at Grosvenor and a Q3 2015 longwall move at Moranbah, offset by the sale of the Foxleigh open cut mine (completed on
30 August 2016) and geological issues at Grasstree ahead of the planned longwall move.
Australian export thermal coal production decreased by 19% to 1.1 million tonnes as Drayton continues to ramp down to a full cessation
of mining activities in Q4 2016.
South Africa – Export thermal coal production decreased by 3% to 4.8 million tonnes. This is primarily due to Landau and Zibulo export
production being re-directed into the domestic market for value.
Eskom related production increased by 20% due to increased demand from Eskom and increased Eskom production at Kleinkopje.
Colombia – Cerrejón’s attributable production increased by 16% to 2.9 million tonnes due to improved productivity and favourable
weather conditions.
Full Year Guidance
Full year production guidance for export metallurgical coal has been reduced to 20.5-21.5 million tonnes (previously 21-22 million
tonnes) due to the completion of the Foxleigh sale on 30 August 2016.
Full year production guidance for export thermal coal from South Africa and Colombia remains unchanged at 28-30 million tonnes.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for the quarter totaled $51 million, a decrease of 27%. Exploration expenditure for the quarter
totaled $26 million, a decrease of 19%. Evaluation expenditure for the quarter totaled $25 million, a decrease of 34%.
NOTE
This Production Report for the third quarter ended 30 September 2016 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 unless otherwise stated.
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
De Beers Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Carats recovered
100% basis
(unless otherwise stated)
Orapa 1,536,000 2,028,000 2,001,000 2,516,000 1,959,000 (24)% (22)% 5,565,000 7,361,000 (24)%
Letlhakane 176,000 159,000 125,000 73,000 134,000 11% 31% 460,000 433,000 6%
Damtshaa - - - 59,000 45,000 - (100)% - 162,000 (100)%
Jwaneng 2,837,000 2,997,000 3,202,000 2,101,000 1,936,000 (5)% 47% 9,036,000 7,663,000 18%
Debswana 4,549,000 5,184,000 5,328,000 4,749,000 4,074,000 (12)% 12% 15,061,000 15,619,000 (4)%
Namdeb 120,000 94,000 72,000 119,000 148,000 28% (19)% 286,000 375,000 (24)%
Debmarine Namibia 285,000 202,000 372,000 286,000 318,000 41% (10)% 859,000 984,000 (13)%
Namdeb Holdings 405,000 296,000 444,000 405,000 466,000 37% (13)% 1,145,000 1,359,000 (16)%
Kimberley - - 68,000 242,000 192,000 - (100)% 68,000 595,000 (89)%
Venetia 898,000 695,000 706,000 1,033,000 712,000 29% 26% 2,299,000 2,099,000 10%
Voorspoed 196,000 126,000 158,000 184,000 132,000 56% 48% 480,000 520,000 (8)%
DBCM 1,094,000 821,000 932,000 1,459,000 1,036,000 33% 6% 2,847,000 3,214,000 (11)%
Snap Lake - - 3,000 280,000 283,000 - (100)% 3,000 963,000 (100)%
Victor 142,000 147,000 159,000 159,000 153,000 (3)% (7)% 448,000 485,000 (8)%
Gahcho Kué (51% basis) 83,000 - - - - - - 83,000 - -
De Beers Canada 225,000 147,000 162,000 439,000 436,000 53% (48)% 534,000 1,448,000 (63)%
Total carats recovered 6,273,000 6,448,000 6,866,000 7,052,000 6,012,000 (3)% 4% 19,587,000 21,640,000 (9)%
Sales volumes (1)
Total sales volume –
carats (100%) (Mct) 5.7 10.2 8.1 3.6 3.0 (44)% 90% 24.0 17.0 41%
Consolidated sales
volume - carats (Mct) 5.3 9.6 7.6 3.6 3.0 (45)% 77% 22.6 16.3 39%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Platinum Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Refined production
Platinum (troy oz) 694,600 747,600 260,800 744,900 610,900 (7)% 14% 1,703,100 1,713,900 (1)%
Palladium (troy oz) 412,900 472,300 181,600 468,400 390,700 (13)% 6% 1,066,800 1,126,500 (5)%
Rhodium (troy oz) 86,800 90,700 47,700 85,700 77,600 (4)% 12% 225,200 219,500 3%
Copper refined (tonnes)(2) 3,800 3,700 3,300 4,700 4,200 3% (10)% 10,800 12,100 (11)%
Copper matte (tonnes)(2) - - - - - 0% 0% - 300 (100)%
Nickel refined (tonnes)(2) 7,100 6,400 5,700 7,300 6,400 11% 11% 19,200 18,100 6%
Nickel matte (tonnes)(2) - - - - - 0% 0% - 400 (100)%
Gold (troy oz) 24,100 22,300 27,900 29,500 23,000 8% 5% 74,300 83,500 (11)%
Mogalakwena (troy oz) 100,700 98,800 109,000 98,500 89,700 2% 12% 308,500 294,000 5%
Amandelbult (troy oz) 128,300 106,200 110,900 120,900 127,600 21% 1% 345,400 316,600 9%
Unki (troy oz) 18,200 17,800 18,600 18,600 15,700 2% 16% 54,600 47,900 14%
Independently managed
(troy oz) 207,100 203,200 185,100 199,100 209,000 2% (1)% 595,400 569,300 5%
Rustenburg (troy oz) 120,900 112,300 106,400 117,800 124,000 8% (3)% 339,500 367,600 (8)%
Union (troy oz) 37,700 41,200 34,300 38,000 37,700 (8)% 0% 113,200 103,200 10%
Other(3) (troy oz) 6,200 6,200 2,700 5,100 10,500 0% (41)% 15,100 40,700 (63)%
Produced ounces
Platinum (troy oz) 619,100 585,700 567,000 598,000 614,300 6% 1% 1,771,700 1,739,300 2%
4E built-up head grade
(g/tonne milled)(4) 3.19 3.00 3.11 3.24 3.27 6% (2)% 3.10 3.23 (4)%
Platinum sales volumes 588,000 808,400 412,800 621,800 690,100 (27)% (15)% 1,809,200 1,849,500 (2)%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Copper (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
on a contained metal basis
unless stated otherwise(5)
Collahuasi 100% basis
(Anglo American share 44%)
Ore mined 17,131,800 15,277,400 14,858,200 22,468,800 18,879,300 12% (9)% 47,267,400 57,104,700 (17)%
Ore processed - Oxide - - - - 1,484,900 - (100)% - 4,653,900 (100)%
Ore processed –
Sulphide 12,522,100 12,479,200 12,102,800 12,801,300 9,464,800 0% 32% 37,104,100 30,989,300 20%
Ore grade processed –
Oxide (% ASCu)(6) - - - - 0.63 - - - 0.63 -
Ore grade processed –
Sulphide (% TCu)(7) 1.23 1.21 1.15 1.25 1.09 2% 13% 1.20 1.11 8%
Production –
Copper cathode 800 1,400 1,900 3,100 6,000 (43)% (87)% 4,100 19,100 (79)%
Production –
Copper in concentrate 128,900 126,300 114,200 136,800 92,800 2% 39% 369,400 296,300 25%
Total copper production
for Collahuasi 129,700 127,700 116,100 139,900 98,800 2% 31% 373,500 315,400 18%
Anglo American’s share of
copper production for
Collahuasi(8) 57,000 56,200 51,100 61,500 43,500 1% 31% 164,300 138,800 18%
Anglo American Sur
Los Bronces mine(9)
Ore mined 13,947,400 13,477,900 10,487,900 13,252,200 10,112,600 3% 38% 37,913,200 37,006,300 2%
Marginal ore mined 6,192,800 6,148,500 13,402,300 11,673,100 7,733,600 1% (20)% 25,743,600 27,579,500 (7)%
Ore processed –
Sulphide 11,511,700 12,567,500 12,055,300 14,115,200 11,584,300 (8)% (1)% 36,134,500 31,281,700 16%
Ore grade processed –
Sulphide (% TCu) 0.65 0.62 0.74 0.83 0.87 5% (25)% 0.67 0.97 (31)%
Production –
Copper cathode 8,800 8,900 9,700 9,700 8,500 (1)% 4% 27,400 25,300 9%
Production –
Copper in concentrate 63,300 66,700 75,500 101,300 90,100 (5)% (30)% 205,500 265,400 (23)%
Production total 72,100 75,600 85,200 111,000 98,600 (5)% (27)% 232,900 290,700 (20)%
El Soldado mine(9)
Ore mined 1,678,300 2,143,000 1,448,000 1,280,000 951,600 (22)% 76% 5,269,300 3,928,100 34%
Ore processed –
Sulphide 1,553,200 1,741,200 1,836,100 1,557,500 1,441,800 (11)% 8% 5,130,500 4,407,900 16%
Ore grade processed –
Sulphide (% TCu) 0.86 0.89 0.75 0.79 0.90 (3)% (4)% 0.83 0.76 9%
Production –
Copper cathode - - - - - - - - 200 (100)%
Production –
Copper in concentrate 10,700 12,400 10,200 8,900 11,000 (14)% (3)% 33,300 26,900 23%
Production total 10,700 12,400 10,200 8,900 11,000 (14)% (3)% 33,300 27,100 22%
Chagres Smelter(9)
Ore smelted 35,500 36,500 35,900 35,900 39,900 (3)% (11)% 107,900 113,200 (5)%
Production 34,700 35,500 35,200 34,900 38,900 (2)% (11)% 105,400 110,200 (4)%
Total copper
production for
Anglo American Sur 82,800 88,000 95,400 119,900 109,600 (6)% (24)% 266,200 317,800 (16)%
Anglo American Norte
Mantos Blancos mine
Ore processed –
Sulphide - - - - 718,400 - (100)% - 2,835,500 (100)%
Ore grade processed –
Sulphide (% TCu) - - - - 0.75 - - - 0.76 -
Production –
Copper cathode - - - - 5,000 - (100)% - 20,400 (100)%
Production –
Copper in concentrate - - - - 4,500 - (100)% - 18,100 (100)%
Production total - - - - 9,500 - (100)% - 38,500 (100)%
Mantoverde mine
Ore processed - Oxide - - - - 1,838,000 - (100)% - 6,605,300 (100)%
Ore processed –
Marginal ore - - - - 1,658,000 - (100)% - 5,944,800 (100)%
Ore grade processed –
Oxide (% ASCu) - - - - 0.51 - - - 0.52 -
Ore grade processed –
Marginal ore (% ASCu) - - - - 0.20 - - - 0.21 -
Production –
Copper cathode - - - - 8,500 - (100)% - 32,300 (100)%
Total copper production for
Anglo American Norte - - - - 18,000 - (100)% - 70,800 (100)%
Total Copper segment
copper production 212,500 215,700 211,500 259,800 226,400 (1)% (6)% 639,700 704,000 (9)%
Total Attributable
copper production(10) 139,800 144,200 146,500 181,400 171,100 (3)% (18)% 430,500 527,400 (18)%
Total Attributable
payable copper production 135,000 139,200 141,600 175,300 165,800 (3)% (19)% 415,800 511,600 (19)%
Total Attributable
sales volumes 135,400 143,500 137,500 183,000 178,400 (6)% (24)% 416,400 522,600 (20)%
Total Attributable
payable sales volumes 130,700 138,500 133,000 176,700 172,900 (6)% (24)% 402,200 506,800 (21)%
Third party sales(11) 26,000 6,700 9,200 41,400 - 288% 100% 41,900 - 100%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Nickel (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
unless stated otherwise (12)
Barro Alto
Ore mined 974,100 835,300 457,000 453,200 1,351,700 17% (28)% 2,266,400 2,490,400 (9)%
Ore processed 610,000 569,200 598,100 566,400 330,700 7% 84% 1,777,300 906,400 96%
Ore grade processed - % Ni 1.76 1.76 1.77 1.77 1.79 0% (1)% 1.76 1.79 (2)%
Production 9,000 8,800 8,900 8,100 4,700 2% 91% 26,700 13,100 104%
Codemin
Ore mined - 7,600 - - - n.m. n.m 7,600 8,600 (12)%
Ore processed 144,000 151,300 151,400 154,000 140,000 (5)% 3% 446,700 437,100 2%
Ore grade processed - % Ni 1.72 1.72 1.68 1.69 1.70 0% 1% 1.70 1.69 1%
Production 2,300 2,300 2,300 2,400 2,100 0% 10% 6,900 6,700 3%
Total Nickel segment
nickel production 11,300 11,100 11,200 10,500 6,800 2% 66% 33,600 19,800 70%
Sales volumes 11,600 11,100 10,800 9,500 6,400 5% 81% 33,500 22,500 49%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Niobium (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
unless stated otherwise
Niobium
Ore mined 877,800 661,000 690,300 637,700 597,300 33% 47% 2,229,100 1,494,000 49%
Ore processed 594,700 601,100 484,800 580,700 578,400 (1)% 3% 1,680,600 1,650,600 2%
Ore grade processed - %Nb 1.06 0.95 0.91 1.00 0.93 12% 14% 0.98 0.94 4%
Production 2,100 1,200 1,400 1,600 1,800 75% 17% 4,700 4,700 0%
Sales volumes 1,600 1,900 1,100 800 1,400 (16)% 14% 4,600 4,300 7%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Phosphates (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
unless stated otherwise
Phosphates
Concentrate 342,400 358,000 333,100 355,700 363,100 (4)% (6)% 1,033,400 985,700 5%
Concentrate grade - %P2O5 37.1 37.1 36.6 36.7 36.8 0% 1% 36.9 36.8 0%
Phosphoric acid 80,900 73,600 79,100 63,900 75,600 10% 7% 233,600 201,200 16%
Fertiliser 303,500 285,900 274,900 303,400 294,400 6% 3% 864,300 807,400 7%
High analysis fertiliser 56,200 53,600 47,800 36,700 42,400 5% 33% 157,600 136,000 16%
Low analysis fertiliser 247,300 232,300 227,100 266,700 252,000 6% (2)% 706,700 671,300 5%
Dicalcium phosphate (DCP) 40,900 41,500 31,500 38,700 33,700 (1)% 21% 113,900 108,600 5%
Fertiliser sales volumes 363,100 362,300 247,300 194,400 339,600 0% 7% 972,700 865,600 12%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Iron Ore and Manganese (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Kumba Iron Ore
Lump 7,598,500 5,721,300 5,669,700 7,029,100 7,322,300 33% 4% 18,989,600 21,974,100 (14)%
Fines 4,161,400 3,142,300 3,254,800 3,906,100 4,068,600 32% 2% 10,558,500 11,968,900 (12)%
Total Kumba production 11,759,900 8,863,600 8,924,500 10,935,200 11,390,900 33% 3% 29,548,100 33,943,000 (13)%
Sishen 8,348,700 5,699,600 5,841,800 7,661,300 7,669,800 46% 9% 19,890,100 23,731,600 (16)%
Kolomela 3,411,200 3,164,000 2,713,100 2,853,800 3,347,800 8% 2% 9,288,300 9,200,600 1%
Thabazimbi - - 369,600 420,100 373,300 0% (100)% 369,600 1,010,800 (63)%
Total Kumba production 11,759,900 8,863,600 8,924,500 10,935,200 11,390,900 33% 3% 29,548,000 33,943,000 (13)%
Kumba sales volumes
RSA export iron ore 10,343,200 8,729,700 9,376,100 10,509,300 9,846,500 18% 5% 28,449,000 33,050,700 (14)%
RSA domestic iron ore 706,900 936,000 1,167,700 533,500 960,700 (24)% (26)% 2,809,600 3,743,300 (25)%
Minas-Rio production
Pellet feed (wet basis) 4,452,400 3,483,800 3,349,400 3,252,500 2,918,800 28% 53% 11,285,600 5,921,700 91%
Minas-Rio sales volumes
Export – pellet feed
(wet basis) 4,510,400 3,223,900 3,714,400 3,035,000 2,793,900 40% 61% 11,448,700 5,432,600 111%
Samancor
Manganese ore(13) 761,700 791,300 775,900 596,000 923,200 (4)% (17)% 2,328,900 2,515,600 (7)%
Manganese alloys(13)(14) 38,900 29,700 32,100 43,500 43,700 31% (11)% 100,700 170,100 (41)%
Samancor sales volumes
Manganese ore 761,800 833,500 870,900 720,200 813,900 (9)% (6)% 2,466,200 2,364,500 4%
Manganese alloys 49,200 46,400 42,800 42,000 42,400 6% 16% 138,400 178,800 (23)%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Coal (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Australia
Metallurgical –
Export Coking 4,326,600 3,997,500 3,378,900 4,302,100 4,115,000 8% 5% 11,703,000 11,605,700 1%
Metallurgical –
Export PCI 1,180,000 1,485,800 1,147,200 1,182,200 1,360,500 (21)% (13)% 3,813,000 4,118,000 (7)%
5,506,600 5,483,300 4,526,100 5,484,300 5,475,500 0% 1% 15,516,000 15,723,800 (1)%
Thermal - Export 1,112,700 1,107,000 1,065,900 1,154,300 1,366,400 1% (19)% 3,285,600 4,126,200 (20)%
Thermal - Domestic 1,682,000 1,716,700 1,492,900 1,978,800 1,800,500 (2)% (7)% 4,891,600 5,072,800 (4)%
2,794,700 2,823,700 2,558,800 3,133,100 3,166,900 (1)% (12)% 8,177,200 9,199,000 (11)%
South Africa
Thermal - Export 4,750,900 4,655,800 3,976,000 3,878,000 4,887,200 2% (3)% 13,382,700 13,525,600 (1)%
Thermal - Domestic
(Eskom) 8,083,900 6,708,700 6,392,000 5,533,500 6,763,000 20% 20% 21,184,600 20,487,700 3%
Thermal - Domestic
(Non-Eskom) 1,855,900 1,824,300 1,803,800 1,821,500 1,730,400 2% 7% 5,484,000 5,022,400 9%
14,690,700 13,188,800 12,171,800 11,233,000 13,380,600 11% 10% 40,051,300 39,035,700 3%
Colombia
Thermal - Export 2,927,800 2,329,500 2,610,000 2,628,100 2,526,800 26% 16% 7,867,300 8,446,200 (7)%
Total Metallurgical
coal production 5,506,600 5,483,300 4,526,100 5,484,300 5,475,500 0% 1% 15,516,000 15,723,800 (1)%
Total Export Thermal
coal production 8,791,400 8,092,300 7,651,900 7,660,400 8,780,400 9% 0% 24,535,600 26,098,000 (6)%
Total Domestic Thermal
coal production 11,621,800 10,249,700 9,688,700 9,333,800 10,293,900 13% 13% 31,560,200 30,582,900 3%
Total Coal production 25,919,800 23,825,300 21,866,700 22,478,500 24,549,800 9% 6% 71,611,800 72,404,700 (1)%
Sales volumes (own mined)
Australia
Metallurgical –
Export(15) 5,512,700 5,403,200 4,815,800 5,396,000 5,480,900 2% 1% 15,731,700 15,697,400 0%
Thermal - Export 1,123,100 1,151,900 1,173,000 1,341,700 1,638,600 (3)% (31)% 3,448,000 4,562,500 (24)%
Thermal - Domestic 1,604,000 1,653,400 1,506,800 1,915,800 1,871,900 (3)% (14)% 4,764,200 5,133,400 (7)%
South Africa
Thermal – Export 4,159,300 4,744,000 4,343,200 5,188,700 4,568,600 (12)% (9)% 13,246,500 14,731,100 (10)%
Thermal - Domestic 9,522,400 8,187,200 7,828,600 6,763,300 7,977,800 16% 19% 25,538,200 24,928,300 2%
Colombia
Thermal - Export 2,905,100 2,843,800 2,339,000 2,565,100 2,853,400 2% 2% 8,087,900 8,624,200 (6)%
Q3 2016 Q3 2016 YTD 2016
vs. vs. vs.
Coal by mine (tonnes) Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2016 Q3 2015 YTD 2016 YTD 2015 YTD 2015
Australia
Callide 1,938,900 1,805,300 1,748,200 2,295,200 1,988,900 7% (3)% 5,492,400 5,635,200 (3)%
Capcoal (incl. Grasstree) 1,637,300 2,205,400 1,760,000 2,283,800 2,353,300 (26)% (30)% 5,602,700 6,405,900 (13)%
Dawson 1,185,900 1,143,800 1,006,000 1,025,800 1,249,400 4% (5)% 3,335,700 3,288,700 1%
Drayton 317,100 418,200 349,900 351,300 600,400 (24)% (47)% 1,085,200 1,770,700 (39)%
Foxleigh 438,900 566,000 434,500 376,300 494,800 (22)% (11)% 1,439,400 1,484,300 (3)%
Grosvenor 685,700 331,200 203,000 179,100 147,300 107% 366% 1,219,900 320,700 280%
Jellinbah 820,200 821,600 758,400 872,700 798,400 0% 3% 2,400,200 2,328,700 3%
Moranbah North 1,277,300 1,015,500 824,900 1,233,200 1,009,900 26% 26% 3,117,700 3,688,600 (15)%
8,301,300 8,307,000 7,084,900 8,617,400 8,642,400 0% (4)% 23,693,200 24,922,800 (5)%
South Africa
Goedehoop 1,286,500 1,266,600 1,001,300 896,000 1,151,200 2% 12% 3,554,400 3,391,100 5%
Greenside 1,111,400 990,700 806,300 897,200 1,059,600 12% 5% 2,908,400 2,979,400 (2)%
Zibulo 1,571,800 1,638,600 1,390,000 1,306,400 1,592,500 (4)% (1)% 4,600,400 4,258,500 8%
Kleinkopje 1,166,800 757,100 966,400 824,900 895,200 54% 30% 2,890,300 2,327,500 24%
Landau 970,300 1,091,900 1,003,200 1,079,200 1,144,600 (11)% (15)% 3,065,400 3,189,500 (4)%
Mafube 506,000 438,500 379,100 366,500 370,100 15% 37% 1,323,600 1,076,000 23%
New Vaal 4,350,500 4,027,700 3,521,800 2,811,500 3,576,700 8% 22% 11,900,000 11,336,600 5%
New Denmark 777,300 392,600 604,300 643,000 881,600 98% (12)% 1,774,200 2,195,300 (19)%
Kriel 1,834,000 1,503,300 1,339,800 1,185,900 1,613,000 22% 14% 4,677,100 4,972,300 (6)%
Isibonelo 1,116,100 1,081,800 1,159,600 1,222,400 1,096,100 3% 2% 3,357,500 3,309,500 1%
14,690,700 13,188,800 12,171,800 11,233,000 13,380,600 11% 10% 40,051,300 39,035,700 3%
Colombia
Carbones del Cerrejón 2,927,800 2,329,500 2,610,000 2,628,100 2,526,800 26% 16% 7,867,300 8,446,200 (7)%
Total Coal production 25,919,800 23,825,300 21,866,700 22,478,500 24,549,800 9% 6% 71,611,800 72,404,700 (1)%
(1) Number of Sights (sales cycles) in each quarter as follows: Q3 2016: 2; Q2 2016: 3; Q1 2016: 2; Q4 2015: 3; Q3 2015: 2; Q2 2015; 2; Q1 2015: 3
(2) Copper and nickel refined through third parties is shown as production of copper matte and nickel matte
(3) Includes third party purchases and Twickenham
(4) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
(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 of copper not produced by Anglo American operations
(12) Excludes Anglo American Platinum’s nickel production
(13) Saleable production
(14) Production includes medium carbon ferro-manganese
(15) Includes both hard coking coal and PCI sales volumes
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
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Trevor Dyer
marcelo.esquivel@angloamerican.com trevor.dyer@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 8992
South Africa Sheena Jethwa
Pranill Ramchander sheena.jethwa@angloamerican.com
pranill.ramchander@angloamerican.com Tel: +44 (0)20 7968 8680
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
25 October 2016
Notes to editors:
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped
resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. 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 diamonds (through De Beers) to platinum and other precious metals
and copper – to our customers around the world.
As a responsible miner, we are the custodians of those 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.
www.angloamerican.com
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