Wrap Text
Production Report for the fourth quarter ended 31 December 2016
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
JSE Share code: AGL
NSX Share code: ANM
ISIN number: GB00B1XZS820
26 January 2017
Anglo American plc
Production Report for the fourth quarter ended 31 December 2016
OVERVIEW
% vs. % vs.
Q4 2016 Q4 2015 Q4 2015 2016 2015 2015
Diamonds (Mct)(1) 7.8 7.1 10% 27.3 28.7 (5)%
Platinum (produced ounces) (koz)(2) 610 598 2% 2,382 2,337 2%
Copper retained operations (t)(3)(4)(5) 146,600 181,400 (19)% 577,100 638,000 (10)%
Nickel (t)(6) 10,900 10,500 4% 44,500 30,300 47%
Iron ore – Kumba (Mt) 11.9 10.9 9% 41.5 44.9 (8)%
Iron ore – Minas-Rio (Mt)(7) 4.9 3.3 49% 16.1 9.2 76%
Export metallurgical coal (Mt) 5.4 5.5 (2)% 20.9 21.2 (2)%
Export thermal coal (Mt)(8) 8.0 7.7 4% 32.5 33.8 (4)%
(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, Kimberley, Niobium & Phosphates, Foxleigh and
Callide, and to reflect Snap Lake being placed on care and maintenance, and to reflect the closure of Drayton.
Mark Cutifani, Anglo American Chief Executive, said “Operational improvements across the portfolio delivered a 4% production increase
on a copper equivalent basis(9) in Q4 2016. De Beers saw continued production increases, reflecting improved trading conditions
relative to Q4 2015, while the successful restructuring at Kumba’s Sishen mine resulted in an 11% production increase. Similarly,
Barro Alto’s nickel production increased by 9% after reaching nameplate capacity in Q3 2016. At Platinum, we continue to maintain
discipline by mining to demand. Together with positive contributions from ongoing ramp-ups at Minas-Rio, Grosvenor and Gahcho Kué,
we will be reporting a 2% increase in copper equivalent production volumes for 2016 as a whole.”
- Rough diamond production increased by 10% to 7.8 million carats compared with Q4 2015 when production was reduced in response to
trading conditions. The increase also reflects the ramp-up of Gahcho Kué in Canada.
- Platinum production (expressed as metal in concentrate)(2) increased by 2% to 610,100 ounces with strong production from Mogalakwena
and Unki mines as well as BRPM and Kroondal. Refined platinum production decreased by 15% to 631,600 ounces following the Waterval
Smelter run-out and subsequent rebuild which impacted refined production by 59,000 ounces in the quarter.
- Copper production decreased by 19% to 146,600 tonnes, primarily at Los Bronces due to expected lower grades, adverse weather earlier
in the year, and illegal industrial action by contractor unions.
- Nickel production increased by 4% to 10,900 tonnes following the successful ramp-up of Barro Alto to nameplate capacity in Q3 2016.
- Iron ore production from Kumba increased by 9% to 11.9 million tonnes driven by improved mining productivity and higher plant yields
at Sishen, and higher throughput at Kolomela.
- Iron ore production from Minas-Rio increased by 49% to 4.9 million tonnes (wet basis) as the operation continues to ramp-up.
- Export metallurgical coal production decreased by 2%, primarily due to the sale of Foxleigh which completed in August 2016.
Excluding Foxleigh, production increased by 5% to 5.4 million tonnes due to the ramp-up at Grosvenor and productivity improvements
at Moranbah and Dawson, partly offset by geological issues and a subsequent longwall move at Grasstree in Q4 2016.
- Production of export thermal coal was impacted by the sale of Callide, which completed on 31 October 2016. Excluding Callide,
production increased by 7% to 7.9 million tonnes due to productivity driven improvements across all operations in South Africa and
Cerrejón.
DE BEERS
Q4 2016 Q4 2016 2016
vs. vs. vs.
Diamonds(1) Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Debswana 000 carats 5,440 4,749 15% 4,549 20% 20,501 20,368 1%
Namdeb Holdings 000 carats 428 405 6% 405 6% 1,573 1,764 (11)%
DBCM 000 carats 1,387 1,459 (5)% 1,094 27% 4,234 4,673 (9)%
De Beers Canada 000 carats 497 439 13% 225 121% 1,031 1,887 (45)%
Total carats recovered 000 carats 7,752 7,052 10% 6,273 24% 27,339 28,692 (5)%
(1) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
(2) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group
of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).
De Beers - Rough diamond production increased by 10% to 7.8 million carats compared with Q4 2015 when production was reduced in
response to trading conditions. The increase also reflected the ramp-up of Gahcho Kué.
Debswana’s (Botswana) production increased by 15% to 5.4 million carats. At Jwaneng, production increased 40%, partly offset by Orapa,
which decreased by 6%, and Damtshaa (a satellite operation of Orapa), which was placed on care and maintenance from 1 January 2016.
Production at Namdeb Holdings (Namibia) increased by 6% to 0.4 million carats due to increased material processed by the Debmarine
Namibia fleet.
In DBCM (South Africa), production decreased marginally to 1.4 million carats, mainly due to the sale of Kimberley Mines in January
2016, partly offset by an increase of 18% at Venetia due to the processing of higher grades.
Production in Canada increased by 13% to 0.5 million carats, driven by the ramp-up at Gahcho Kué. This was partially offset by Snap
Lake being placed on care and maintenance in December 2015. The ramp-up of Gahcho Kué continues to progress, with commercial production
expected to be reached during Q1 2017.
Rough diamond production increased by 24% compared with Q3 2016 as a result of higher production at Orapa, higher grades at Venetia and
the ramp-up of Gahcho Kué.
Total rough diamond sales volumes in Q4 2016 compared with Q4 2015 more than doubled to 8.0 million carats (7.5 million carats on a
consolidated basis(2)).
For the full year, total rough diamond sales volumes increased by 55% to 32.0 million carats (30.0 million carats on a consolidated
basis(2)). The increases reflect the improved trading conditions from those experienced in H2 2015.
For the full year, the average realised price of $187 per carat was 10% lower than in 2015, reflecting the lower average rough price
index, which was down 13%, partially offset by a stronger sales mix.
PLATINUM
Q4 2016 Q4 2016 2016
vs. vs. vs.
Platinum Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Produced ounces(1)
Platinum 000 oz 610 598 2% 619 (1)% 2,382 2,337 2%
Refined
Platinum 000 oz 632 745 (15)% 695 (9)% 2,335 2,459 (5)%
Palladium 000 oz 397 468 (15)% 413 (4)% 1,464 1,595 (8)%
Rhodium 000 oz 92 86 8% 87 6% 317 305 4%
Copper – Refined t 3,300 4,700 (30)% 3,800 (13)% 14,100 16,800 (16)%
Copper – Matte(2) t 0 0 0% 0 0% 0 300 (100)%
Nickel – Refined t 6,200 7,300 (15)% 7,100 (13)% 25,400 25,400 0%
Nickel – Matte(2) t 0 0 0% 0 0% 0 400 (100)%
Gold 000 oz 34 30 15% 24 41% 108 113 (4)%
(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 up 2% to 610,100 platinum ounces.
Mogalakwena production increased by 5% to 103,400 ounces primarily due to a 2% increase in grade to 3.1g/t.
Amandelbult production was flat at 121,100 ounces.
Unki production increased 7% to 19,900 ounces driven by increased tonnes milled and higher grade.
Independently managed production (mined and purchased, but excluding third party purchase of concentrate), decreased by 5% to
189,500 ounces, driven by lower production at Bokoni due to closures of two shafts at the end of 2015. This was partially offset by a
strong production performance at BRPM and Kroondal.
Following the restructuring at Union mine in 2016, which led to a significant reduction in labour, the mine continued to perform in
line with its optimised mine plan, maintaining production at 38,100 ounces.
Total mined production from Rustenburg operations including the Western Limb Tailings Retreatment decreased by 62%. The sale of
Rustenburg completed on 1 November 2016, from which point production from Rustenburg is recognised as third party purchase of
concentrate and excluded from own production for the last two months of 2016.
Production from other sources, which includes the Twickenham project and purchase of third party concentrate, increased by
86,800 ounces to 93,900 ounces due to the inclusion of concentrate purchased from Rustenburg from 1 November 2016. This was partially
offset by a reduction in purchase of concentrate from other producers.
Refined platinum production decreased by 15% to 631,600 ounces, following the Waterval Smelter run-out in September and subsequent
rebuild which impacted refined production by 59,000 ounces in Q4 2016 and 65,000 ounces in total during 2016. Mining and concentrating
activities were unaffected. The furnace has been successfully rebuilt and is operating at full capacity.
COPPER
Q4 2016 Q4 2016 2016
vs. vs. vs.
Copper(1) Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Collahuasi (44% share) t 58,600 61,500 (5)% 57,000 3% 222,900 200,300 11%
Los Bronces mine t 74,300 111,000 (33)% 72,100 3% 307,200 401,700 (24)%
Copper retained operations(2) t 146,600 181,400 (19)% 139,800 5% 577,100 638,000 (10)%
Total attributable copper production t 146,600 181,400 (19)% 139,800 5% 577,100 708,800 (19)%
(1) Copper production shown on a contained metal basis.
(2) Anglo American Norte excluded for all periods.
Copper – Copper production decreased by 19% to 146,600 tonnes.
Production from Los Bronces decreased by 33% to 74,300 tonnes due to expected lower grades (0.69% vs 0.83%) exacerbated by the
impact of severe weather earlier in the year resulting in lower mine development in higher grade areas, as previously reported. In
addition, operations were disrupted by illegal industrial action by contractor unions (c.9kt impact on production in the quarter).
At Collahuasi, attributable production decreased by 5% to 58,600 tonnes owing to planned maintenance on the smaller Line 2 during
November and December 2016.
El Soldado production increased by 54% to 13,700 tonnes primarily due to higher grades and throughput.
At the end of 2016, Anglo American had 113,204 tonnes of copper provisionally priced at 251c/lb, bringing the realised copper price
for the full year to 225c/lb. The final price of these sales will be determined in the 2017 financial year.
NICKEL
Q4 2016 Q4 2016 2016
vs. vs. vs.
Nickel Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Nickel t 10,900 10,500 4% 11,300 (4)% 44,500 30,300 47%
Nickel – Nickel production increased by 4% to 10,900 tonnes despite an external electric power supply interruption at Barro Alto in the
quarter.
Barro Alto recorded annual production of 35,500 tonnes, a 67% increase following the successful rebuild of the furnace. Production from
Codemin was stable at 9,000 tonnes for the year.
NIOBIUM
Q4 2016 Q4 2016 2016
vs. vs. vs.
Niobium Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Niobium t - 1,600 - 2,100 - 4,700 6,300 (25)%
Niobium – The sale of the Niobium and Phosphates businesses completed on 30 September 2016.
PHOSPHATES
Q4 2016 Q4 2016 2016
vs. vs. vs.
Phosphates Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Phosphates
Concentrate t - 355,700 - 342,400 - 1,033,400 1,341,400 (23)%
Phosphoric acid t - 63,900 - 80,900 - 233,600 265,100 (12)%
Fertiliser t - 303,400 - 303,500 - 864,300 1,110,800 (22)%
Dicalcium phosphate (DCP) t - 38,700 - 40,900 - 113,900 147,300 (23)%
Phosphates - The sale of the Niobium and Phosphates businesses completed on 30 September 2016.
IRON ORE AND MANGANESE
Q4 2016 Q4 2016 2016
vs. vs. vs.
Iron Ore and Manganese Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Iron ore – Kumba 000 t 11,928 10,935 9% 11,760 1% 41,476 44,878 (8)%
Iron ore – Minas-Rio(1) 000 t 4,855 3,253 49% 4,452 9% 16,141 9,174 76%
Manganese ore(2) 000 t 804 596 35% 762 6% 3,133 3,112 1%
Manganese alloys(3) 000 t 37 44 (15)% 39 (5)% 138 214 (35)%
(1) Wet basis
(2) Saleable production
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore – Iron ore production increased by 9% to 11.9 million tonnes.
Sishen production was 8.5 million tonnes in Q4 2016, an 11% increase on Q4 2015 and a 2% increase on Q3 2016. Run rates in the quarter
were in line with the improvement realised in Q3 2016 following the successful completion of the restructuring to a lower cost pit
shell. The higher production was attributable to improved mining productivity as well as access to low strip ratio ore and higher plant
yields during the second half of the year. Consistent with the mine’s lower cost pit configuration, waste removal decreased by 32% to
37 million tonnes compared to Q4 2015.
Kolomela production increased by 20% to 3.4 million tonnes compared to Q4 2015, driven by higher levels of throughput as a result of
debottlenecking and optimisation of the plant. Waste mined increased by 59% to 15 million tonnes, in line with higher production
levels.
Export sales increased marginally to 10.6 million tonnes. Total finished product stocks were 3.5 million tonnes, compared with
3.1 million tonnes at 30 September 2016, in line with optimum level of c.3 million tonnes.
Iron Ore Brazil – Iron ore production from Minas-Rio increased to 4.9 million tonnes (wet basis) during Q4 2016, a 9% increase compared
to Q3 2016, as the operation continues its ramp-up. Overall improved operational performance has been achieved since July 2016, when
licensing was granted to access the next area of reserves, bringing forward availability of run-of-mine material.
The average realised price in 2016 was $54 per wet metric tonne (equivalent to $59 per dry metric tonne).
Manganese ore – Manganese ore production increased by 35% from Q4 2015 when there were stoppages in operations. Additionally in 2016,
the business drew down on Wessels concentrate stockpiles in South Africa in response to higher market prices.
Manganese alloy – Manganese alloy production decreased by 15% from Q3 2016 as a result of furnace instability. The South African
Manganese operations continue to operate only one of its four furnaces.
COAL
Q4 2016 Q4 2016 2016
vs. vs. vs.
Coal Q4 2016 Q4 2015 Q4 2015 Q3 2016 Q3 2016 2016 2015 2015
Australia – excluding divestments(1)(2)
Metallurgical – Export(1) 000 t 5,360 5,115 5% 5,068 6% 19,446 19,391 0%
Thermal – Export(2) 000 t 595 831 (28)% 856 (30)% 3,270 4,358 (25)%
Thermal – Domestic(2) 000 t - - - - - - - -
Australia – total
Metallurgical - Export 000 t 5,360 5,484 (2)% 5,507 (3)% 20,876 21,208 (2)%
Thermal - Export 000 t 672 1,154 (42)% 1,113 (40)% 3,958 5,281 (25)%
Thermal - Domestic 000 t 662 1,979 (67)% 1,682 (61)% 5,553 7,052 (21)%
South Africa
Thermal - Export 000 t 4,490 3,878 16% 4,751 (5)% 17,872 17,404 3%
Thermal - Domestic (Eskom) 000 t 7,515 5,534 36% 8,084 (7)% 28,699 26,021 10%
Thermal - Domestic (Non-Eskom) 000 t 1,704 1,822 (6)% 1,856 (8)% 7,188 6,844 5%
Colombia
Thermal - Export 000 t 2,801 2,628 7% 2,928 (4)% 10,668 11,074 (4)%
(1) Excludes production from Foxleigh, which was sold on 30 August 2016.
(2) Excludes production from Callide, which was sold on 31 October 2016.
Australia – Export metallurgical coal production, excluding the impact of the divestment of Foxleigh (30 August 2016) increased by
5% to 5.4 million tonnes due to production ramping up at Grosvenor, increased cutting hours and rates at Moranbah and productivity
gains at Dawson. These increases have been partially offset by geological issues and a subsequent longwall move at Grasstree in
Q4 2016.
Australian export thermal coal production, excluding the impact of the Callide divestment, decreased by 28% to 0.6 million tonnes as
Drayton ceased mining activities in October 2016 following the NSW Planning Assessment Commission recommendation not to approve the
Drayton South Project.
Australian domestic thermal coal production decreased by 67% to 0.7 million tonnes due to the sale of Callide which completed on
31 October 2016.
South Africa – Export thermal coal production increased by 16% to 4.5 million tonnes. Production increased at all the export mines
driven by productivity improvements following the roll-out of the Anglo Operating Model. Goedehoop also benefitted from plant
modifications that enabled the production of an export product from previously discarded coal. Export sales volumes at 5.8Mt exceeded
export production as coal produced for the domestic market was sold in the export market for enhanced value when conditions allowed.
Eskom related production increased by 36% with New Vaal dragline maintenance impacting production in Q4 2015, improved performance from
Kriel’s underground operations and increased delivery against the domestic supply contract at Kleinkopje.
Colombia – Cerrejón’s attributable production increased by 7% to 2.8 million tonnes due to improved productivity and favourable weather
conditions.
EXPLORATION AND EVALUATION
Exploration and evaluation expenditure for the quarter was $69 million, a decrease of 19%. Exploration expenditure for the quarter was
$28 million, a decrease of 45%. Evaluation expenditure for the quarter was $41 million, an increase of 21%.
Total exploration and evaluation expenditure in 2016 is $212 million, a 29% decrease.
NOTE
This Production Report for the fourth quarter ended 31 December 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.
Q4 2016 Q4 2016 2016
vs. vs. vs.
De Beers Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
Carats recovered
100% basis
(unless otherwise stated)
Orapa 2,366,000 1,536,000 2,028,000 2,001,000 2,516,000 54% (6)% 7,931,000 9,877,000 (20)%
Letlhakane 135,000 176,000 159,000 125,000 73,000 (23)% 85% 595,000 506,000 18%
Damtshaa - - - - 59,000 - (100)% - 221,000 (100)%
Jwaneng 2,939,000 2,837,000 2,997,000 3,202,000 2,101,000 4% 40% 11,975,000 9,764,000 23%
Debswana 5,440,000 4,549,000 5,184,000 5,328,000 4,749,000 20% 15% 20,501,000 20,368,000 1%
Namdeb 118,000 120,000 94,000 72,000 119,000 (2)% (1)% 404,000 494,000 (18)%
Debmarine Namibia 310,000 285,000 202,000 372,000 286,000 9% 8% 1,169,000 1,270,000 (8)%
Namdeb Holdings 428,000 405,000 296,000 444,000 405,000 6% 6% 1,573,000 1,764,000 (11)%
Kimberley - - - 68,000 242,000 - (100)% 68,000 837,000 (92)%
Venetia 1,218,000 898,000 695,000 706,000 1,033,000 36% 18% 3,517,000 3,132,000 12%
Voorspoed 169,000 196,000 126,000 158,000 184,000 (14)% (8)% 649,000 704,000 (8)%
DBCM 1,387,000 1,094,000 821,000 932,000 1,459,000 27% (5)% 4,234,000 4,673,000 (9)%
Snap Lake - - - 3,000 280,000 - (100)% 3,000 1,243,000 (100)%
Victor 148,000 142,000 147,000 159,000 159,000 4% (7)% 596,000 644,000 (7)%
Gahcho Kué (51% basis) 349,000 83,000 - - - 320% - 432,000 - -
De Beers Canada 497,000 225,000 147,000 162,000 439,000 121% 13% 1,031,000 1,887,000 (45)%
Total carats recovered 7,752,000 6,273,000 6,448,000 6,866,000 7,052,000 24% 10% 27,339,000 28,692,000 (5)%
Sales volumes
Total sales volume
(100%) (Mct)(1) 8.0 5.7 10.2 8.1 3.6 40% 122% 32.0 20.6 55%
Consolidated sales
volume (Mct)(1) 7.5 5.3 9.6 7.6 3.6 42% 108% 30.0 19.9 51%
Number of Sights
(sales cycles) 3 2 3 2 3 10 10
Q4 2016 Q4 2016 2016
vs. vs. vs.
Platinum Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
Refined production
Platinum (troy oz) 631,600 694,600 747,600 260,800 744,900 (9)% (15)% 2,334,700 2,458,800 (5)%
Palladium (troy oz) 397,400 412,900 472,300 181,600 468,400 (4)% (15)% 1,464,200 1,594,900 (8)%
Rhodium (troy oz) 92,200 86,800 90,700 47,700 85,700 6% 8% 317,400 305,200 4%
Copper refined (tonnes)(2) 3,300 3,800 3,700 3,300 4,700 (13)% (30)% 14,100 16,800 (16)%
Copper matte (tonnes)(2) - - - - - - - - 300 -
Nickel refined (tonnes)(2) 6,200 7,100 6,400 5,700 7,300 (13)% (15)% 25,400 25,400 0%
Nickel matte (tonnes)(2) - - - - - - - - 400 -
Gold (troy oz) 33,900 24,100 22,300 27,900 29,500 41% 15% 108,200 113,000 (4)%
Produced ounces
Platinum (troy oz) 610,100 619,100 585,700 567,000 598,000 (1)% 2% 2,381,900 2,337,300 2%
Mogalakwena (troy oz) 103,400 100,700 98,800 109,000 98,500 3% 5% 411,900 392,500 5%
Amandelbult (troy oz) 121,100 128,300 106,200 110,900 120,900 (6)% 0% 466,500 437,500 7%
Unki (troy oz) 19,900 18,200 17,800 18,600 18,600 9% 7% 74,500 66,500 12%
Independently managed(3)
(troy oz) 189,500 207,100 203,200 185,100 199,100 (8)% (5)% 784,900 768,500 2%
Rustenburg(4) (troy oz) 44,200 118,100 110,800 104,300 115,800 (63)% (62)% 377,400 478,100 (21)%
Union (troy oz) 38,100 37,700 41,200 34,300 38,000 1% 0% 151,300 141,100 7%
Other(5) (troy oz) 93,900 9,000 7,700 4,800 7,100 943% 1,223% 115,400 53,100 117%
4E built-up head grade
(g/tonne milled)(6) 3.41 3.19 3.00 3.11 3.24 7% 5% 3.16 3.23 (2)%
Platinum sales volumes 606,500 588,000 808,400 412,800 621,800 3% (2)% 2,415,700 2,471,400 (2)%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Copper (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
on a contained metal basis
unless stated otherwise(7)
Collahuasi 100% basis
(Anglo American share 44%)
Ore mined 20,335,200 17,131,800 15,277,400 14,858,200 22,468,800 19% (9)% 67,602,600 79,573,500 (15)%
Ore processed - Oxide - - - - - - - - 4,653,900 (100)%
Ore processed - Sulphide 12,302,700 12,522,100 12,479,200 12,102,800 12,801,300 (2)% (4)% 49,406,800 43,790,600 13%
Ore grade processed -
Oxide (% ASCu)(8) - - - - - - - - 0.63 (100)%
Ore grade processed -
Sulphide (% TCu)(9) 1.29 1.23 1.21 1.15 1.25 5% 3% 1.22 1.15 6%
Production - Copper cathode 700 800 1,400 1,900 3,100 (13)% (77)% 4,800 22,200 (78)%
Production - Copper in
concentrate 132,400 128,900 126,300 114,200 136,800 3% (3)% 501,800 433,100 16%
Total copper production
for Collahuasi 133,100 129,700 127,700 116,100 139,900 3% (5)% 506,600 455,300 11%
Anglo American’s share of
copper production for
Collahuasi(10) 58,600 57,000 56,200 51,100 61,500 3% (5)% 222,900 200,300 11%
Anglo American Sur
Los Bronces mine(11)
Ore mined 13,196,500 13,947,400 13,477,900 10,487,900 13,252,200 (5)% (0)% 51,109,700 50,258,500 2%
Marginal ore mined 8,445,700 6,192,800 6,148,500 13,402,300 11,673,100 36% (28)% 34,189,300 39,252,600 (13)%
Ore processed – Sulphide 11,562,500 11,511,700 12,567,500 12,055,300 14,115,200 0% (18)% 47,697,000 45,396,900 5%
Ore grade processed -
Sulphide (% TCu) 0.69 0.65 0.62 0.74 0.83 6% (17)% 0.67 0.92 (27)%
Production - Copper cathode 8,600 8,800 8,900 9,700 9,700 (2)% (11)% 36,000 35,000 3%
Production - Copper in
concentrate 65,700 63,300 66,700 75,500 101,300 4% (35)% 271,200 366,700 (26)%
Production total 74,300 72,100 75,600 85,200 111,000 3% (33)% 307,200 401,700 (24)%
El Soldado mine(11)
Ore mined 2,069,800 1,678,300 2,143,000 1,448,000 1,280,000 23% 62% 7,339,100 5,208,100 41%
Ore processed - Sulphide 1,833,900 1,553,200 1,741,200 1,836,100 1,557,500 18% 18% 6,964,400 5,965,400 17%
Ore grade processed -
Sulphide (% TCu) 0.90 0.86 0.89 0.75 0.79 5% 14% 0.85 0.77 10%
Production - Copper cathode - - - - - - - - 200 (100)%
Production - Copper in
concentrate 13,700 10,700 12,400 10,200 8,900 28% 54% 47,000 35,800 31%
Production total 13,700 10,700 12,400 10,200 8,900 28% 54% 47,000 36,000 31%
Chagres Smelter(11)
Ore smelted 25,900 35,500 36,500 35,900 35,900 (27)% (28)% 133,800 149,100 (10)%
Production 25,400 34,700 35,500 35,200 34,900 (27)% (27)% 130,800 145,100 (10)%
Total copper production for
Anglo American Sur 88,000 82,800 88,000 95,400 119,900 6% (27)% 354,200 437,700 (19)%
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide - - - - - - - - 2,835,500 -
Ore grade processed -
Sulphide (% TCu) - - - - - - - - 0.76 -
Production - Copper cathode - - - - - - - - 20,400 -
Production - Copper in
concentrate - - - - - - - - 18,100 -
Production total - - - - - - - - 38,500 -
Mantoverde mine
Ore processed - Oxide - - - - - - - - 6,605,300 -
Ore processed - Marginal ore - - - - - - - - 5,944,800 -
Ore grade processed -
Oxide (% ASCu) - - - - - - - - 0.52 -
Ore grade processed -
Marginal ore (% ASCu) - - - - - - - - 0.21 -
Production - Copper cathode - - - - - - - - 32,300 -
Total copper production for
Anglo American Norte - - - - - - - - 70,800 -
Total Copper segment
copper production 221,100 212,500 215,700 211,500 259,800 4% (15)% 860,800 963,800 (11)%
Total Attributable copper
production(12) 146,600 139,800 144,200 146,500 181,400 5% (19)% 577,100 708,800 (19)%
Total Attributable payable
copper production 141,300 135,000 139,200 141,600 175,300 5% (19)% 557,100 686,900 (19)%
Total Attributable
sales volumes 161,400 135,400 143,500 137,500 183,000 19% (12)% 577,800 705,600 (18)%
Total Attributable
payable sales volumes 155,700 130,700 138,500 133,000 176,700 19% (12)% 557,900 683,500 (18)%
Third party sales(13) 20,100 26,000 6,700 9,200 41,400 (23)% (51)% 62,000 41,400 50%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Nickel (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
unless stated otherwise (14)
Barro Alto
Ore mined 364,300 974,100 835,300 457,000 453,200 (63)% (20)% 2,630,700 2,943,600 (11)%
Ore processed 579,800 610,000 569,200 598,100 566,400 (5)% 2% 2,357,100 1,472,800 60%
Ore grade processed - % Ni 1.77 1.76 1.76 1.77 1.77 1% 0% 1.76 1.78 (1)%
Production 8,800 9,000 8,800 8,900 8,100 (2)% 9% 35,500 21,300 67%
Codemin
Ore mined - - 6,800 - - - - 6,800 8,600 (21)%
Ore processed 142,900 144,000 151,300 151,400 154,000 (1)% (7)% 589,600 591,100 0%
Ore grade processed - % Ni 1.73 1.72 1.72 1.68 1.69 1% 2% 1.71 1.69 1%
Production 2,100 2,300 2,300 2,300 2,400 (9)% (13)% 9,000 9,000 0%
Total Nickel segment
nickel production 10,900 11,300 11,100 11,200 10,500 (4)% 4% 44,500 30,300 47%
Sales volumes 11,400 11,600 11,100 10,800 9,500 (2)% 20% 44,900 32,000 40%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Niobium (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
unless stated otherwise
Niobium
Ore mined - 877,800 661,000 690,300 637,700 - - 2,229,100 2,131,700 5%
Ore processed - 594,700 601,100 484,800 580,700 - - 1,680,600 2,231,300 (25)%
Ore grade processed - %Nb - 1.06 0.95 0.91 1.00 - - 0.98 0.96 2%
Production - 2,100 1,200 1,400 1,600 - - 4,700 6,300 (25)%
Sales volumes - 1,600 1,900 1,100 800 - - 4,600 5,100 (10)%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Phosphates (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
unless stated otherwise
Phosphates
Concentrate - 342,400 358,000 333,100 355,700 - - 1,033,400 1,341,400 (23)%
Concentrate grade - %P2O5 - 37.1 37.1 36.6 36.7 - - 36.9 36.8 0%
Phosphoric acid - 80,900 73,600 79,100 63,900 - - 233,600 265,100 (12)%
Fertiliser - 303,500 285,900 274,900 303,400 - - 864,300 1,110,800 (22)%
High analysis fertiliser - 56,200 53,600 47,800 36,700 - - 157,600 172,700 (9)%
Low analysis fertiliser - 247,300 232,300 227,100 266,700 - - 706,700 938,100 (25)%
Dicalcium phosphate (DCP) - 40,900 41,500 31,500 38,700 - - 113,900 147,300 (23)%
Fertiliser sales volumes - 363,100 362,300 247,300 194,400 - - 972,700 1,060,100 (8)%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Ore and Manganese (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
Kumba Iron Ore
Lump 7,812,000 7,598,500 5,721,300 5,669,700 7,029,100 3% 11% 26,801,500 29,003,100 (8)%
Fines 4,115,900 4,161,400 3,142,300 3,254,800 3,906,100 (1)% 5% 14,674,400 15,875,100 (8)%
Total Kumba production 11,927,900 11,759,900 8,863,600 8,924,500 10,935,200 1% 9% 41,475,900 44,878,200 (8)%
Sishen 8,489,900 8,348,700 5,699,600 5,841,800 7,661,300 2% 11% 28,380,000 31,392,800 (10)%
Kolomela 3,438,000 3,411,200 3,164,000 2,713,100 2,853,800 1% 20% 12,726,300 12,054,400 6%
Thabazimbi - - - 369,600 420,100 - (100)% 369,600 1,431,000 (74)%
Total Kumba production 11,927,900 11,759,900 8,863,600 8,924,500 10,935,200 1% 9% 41,475,900 44,878,200 (8)%
Kumba sales volumes
RSA export iron ore 10,611,400 10,343,200 8,729,700 9,376,100 10,509,300 3% 1% 39,060,400 43,560,000 (10)%
RSA domestic iron ore 612,700 706,900 936,000 1,167,700 533,500 (13)% 15% 3,423,300 4,276,800 (20)%
Minas-Rio production
Pellet feed (wet basis) 4,855,300 4,452,400 3,483,800 3,349,400 3,252,500 9% 49% 16,140,900 9,174,200 76%
Minas-Rio sales volumes
Export – pellet feed
(wet basis) 4,761,800 4,510,400 3,223,900 3,714,400 3,035,000 6% 57% 16,210,500 8,467,600 91%
Samancor
Manganese ore(15) 804,200 761,700 791,300 775,900 596,000 6% 35% 3,133,100 3,111,600 1%
Manganese alloys(15)(16) 37,100 38,900 29,700 32,100 43,500 (5)% (15)% 137,800 213,600 (35)%
Samancor sales volumes
Manganese ore 813,000 761,800 833,500 870,900 720,200 7% 13% 3,279,200 3,084,700 6%
Manganese alloys 31,600 49,200 46,400 42,800 42,000 (36)% (25)% 170,000 203,300 (16)%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Coal (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
Australia
Metallurgical –
Export Coking 4,496,900 4,326,600 3,997,500 3,378,900 4,302,100 4% 5% 16,199,900 15,907,900 2%
Metallurgical -
Export PCI 862,800 1,180,000 1,485,800 1,147,200 1,182,200 (27)% (27)% 4,675,800 5,300,300 (12)%
5,359,700 5,506,600 5,483,300 4,526,100 5,484,300 (3)% (2)% 20,875,700 21,208,200 (2)%
Thermal - Export 671,900 1,112,700 1,107,000 1,065,900 1,154,300 (40)% (42)% 3,957,500 5,280,500 (25)%
Thermal - Domestic 661,800 1,682,000 1,716,700 1,492,900 1,978,800 (61)% (67)% 5,553,400 7,051,600 (21)%
1,333,700 2,794,700 2,823,700 2,558,800 3,133,100 (52)% (57)% 9,510,900 12,332,100 (23)%
South Africa
Thermal - Export 4,489,700 4,750,900 4,655,800 3,976,000 3,878,000 (5)% 16% 17,872,400 17,403,600 3%
Thermal - Domestic
(Eskom) 7,514,700 8,083,900 6,708,700 6,392,000 5,533,500 (7)% 36% 28,699,300 26,021,200 10%
Thermal - Domestic
(Non-Eskom) 1,704,200 1,855,900 1,824,300 1,803,800 1,821,500 (8)% (6)% 7,188,200 6,843,900 5%
13,708,600 14,690,700 13,188,800 12,171,800 11,233,000 (7)% 22% 53,759,900 50,268,700 7%
Colombia
Thermal - Export 2,800,600 2,927,800 2,329,500 2,610,000 2,628,100 (4)% 7% 10,667,900 11,074,300 (4)%
Total Metallurgical
coal production 5,359,700 5,506,600 5,483,300 4,526,100 5,484,300 (3)% (2)% 20,875,700 21,208,200 (2)%
Total Export Thermal
coal production 7,962,200 8,791,400 8,092,300 7,651,900 7,660,400 (9)% 4% 32,497,800 33,758,400 (4)%
Total Domestic Thermal
coal production 9,880,700 11,621,800 10,249,700 9,688,700 9,333,800 (15)% 6% 41,440,900 39,916,700 4%
Total Coal production 23,202,600 25,919,800 23,825,300 21,866,700 22,478,500 (10)% 3% 94,814,400 94,883,300 0%
Sales volumes (own mined)
Australia
Metallurgical -
Export(17) 4,926,900 5,512,700 5,403,200 4,815,800 5,396,000 (11)% (9)% 20,658,600 21,093,400 (2)%
Thermal - Export 807,300 1,123,100 1,151,900 1,173,000 1,341,700 (28)% (40)% 4,255,300 5,904,200 (28)%
Thermal - Domestic 611,200 1,604,000 1,653,400 1,506,800 1,915,800 (62)% (68)% 5,375,400 7,049,300 (24)%
South Africa
Thermal – Export 5,825,200 4,159,300 4,744,000 4,343,200 5,188,700 40% 12% 19,071,700 19,919,800 (4)%
Thermal - Domestic 8,942,400 9,522,400 8,187,200 7,828,600 6,763,300 (6)% 32% 34,480,600 31,691,600 9%
Colombia
Thermal - Export 2,722,300 2,905,100 2,843,800 2,339,000 2,565,100 (6)% 6% 10,810,200 11,189,300 (3)%
Q4 2016 Q4 2016 2016
vs. vs. vs.
Coal by mine (tonnes) Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2016 Q4 2015 2016 2015 2015
Australia
Callide 738,400 1,938,900 1,805,300 1,748,200 2,295,200 (62)% (68)% 6,230,800 7,930,400 (21)%
Capcoal
(incl. Grasstree) 1,230,200 1,637,300 2,205,400 1,760,000 2,283,800 (25)% (46)% 6,832,900 8,689,700 (21)%
Dawson 1,273,000 1,185,900 1,143,800 1,006,000 1,025,800 7% 24% 4,608,700 4,314,500 7%
Drayton 82,300 317,100 418,200 349,900 351,300 (74)% (77)% 1,167,500 2,122,000 (45)%
Foxleigh - 438,900 566,000 434,500 376,300 (100)% (100)% 1,439,400 1,860,600 (23)%
Grosvenor 539,100 685,700 331,200 203,000 179,100 (21)% 201% 1,759,000 499,800 252%
Jellinbah 882,100 820,200 821,600 758,400 872,700 8% 1% 3,282,300 3,201,500 3%
Moranbah North 1,948,400 1,277,300 1,015,500 824,900 1,233,200 53% 58% 5,066,100 4,921,800 3%
6,693,500 8,301,300 8,307,000 7,084,900 8,617,400 (19)% (22)% 30,386,700 33,540,300 (9)%
South Africa
Goedehoop 1,134,200 1,286,500 1,266,600 1,001,300 896,000 (12)% 27% 4,688,600 4,287,200 9%
Greenside 1,036,900 1,111,400 990,700 806,300 897,200 (7)% 16% 3,945,300 3,876,600 2%
Zibulo 1,407,200 1,571,800 1,638,600 1,390,000 1,306,400 (10)% 8% 6,007,600 5,565,000 8%
Kleinkopje 977,600 1,166,800 757,100 966,400 824,900 (16)% 19% 3,867,900 3,152,300 23%
Landau 1,252,400 970,300 1,091,900 1,003,200 1,079,200 29% 16% 4,317,800 4,268,700 1%
Mafube 435,400 506,000 438,500 379,100 366,500 (14)% 19% 1,759,000 1,442,500 22%
New Vaal 3,994,800 4,350,500 4,027,700 3,521,800 2,811,500 (8)% 42% 15,894,800 14,148,100 12%
New Denmark 773,200 777,300 392,600 604,300 643,000 (1)% 20% 2,547,400 2,838,300 (10)%
Kriel 1,659,400 1,834,000 1,503,300 1,339,800 1,185,900 (10)% 40% 6,336,500 6,158,200 3%
Isibonelo 1,037,500 1,116,100 1,081,800 1,159,600 1,222,400 (7)% (15)% 4,395,000 4,531,800 (3)%
13,708,600 14,690,700 13,188,800 12,171,800 11,233,000 (7)% 22% 53,759,900 50,268,700 7%
Colombia
Carbones del Cerrejón 2,800,600 2,927,800 2,329,500 2,610,000 2,628,100 (4)% 7% 10,667,900 11,074,300 (4)%
Total Coal production 23,202,700 25,919,800 23,825,300 21,866,700 22,478,500 (10)% 3% 94,814,500 94,883,300 0%
(1) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group of Companies from the
Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).
(2) Copper and nickel refined through third parties is shown as production of copper matte and nickel matte.
(3) Independently managed operations include: BRPM, Bokoni, Kroondal, Mototolo and Modikwa.
(4) Restated to exclude third party production from Platinum Mile which was not sold as part of the Rustenburg transaction.
(5) Other includes Twickenham and third party purchases including purchased ounces from Rustenburg from 1 November 2016.
(6) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.
(7) Excludes Anglo American Platinum’s copper production.
(8) ASCu = acid soluble copper.
(9) TCu = total copper.
(10) Anglo American’s share of Collahuasi production is 44%.
(11) Anglo American ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur.
(12) Difference between total copper production and attributable copper production arises from Anglo American’s 44% interest in Collahuasi.
(13) Relates to sales of copper not produced by Anglo American operations.
(14) Excludes Anglo American Platinum’s nickel production.
(15) Saleable production.
(16) Production includes medium carbon ferro-manganese.
(17) Includes both hard coking coal and PCI sales volumes.
ACHIEVED PRICES SUMMARY
FY 2016 H2 2016
vs. vs.
Average achieved prices FY 2016 FY 2015 H2 2016 H1 2016 FY 2015 H1 2016
De Beers
Total sales volumes (100%) (Mct) 32.0 20.6 13.7 18.3 55% (25)%
Consolidated sales volumes (Mct)(1) 30.0 19.9 12.8 17.2 51% (26)%
Consolidated average realised price ($/ct)(2) 187 207 201 177 (10)% 14%
Average price index(3) 118 135 119 117 (13)% 2%
PGMs
Platinum (US$/oz) 993 1,051 1,015 971 (6)% 5%
Palladium (US$/oz) 610 703 670 551 (13)% 22%
Rhodium (US$/oz) 680 958 682 679 (29)% 0%
Basket price (US$/oz) 1,753 1,905 1,877 1,632 (8)% 15%
Basket price (ZAR/oz) 25,649 24,203 26,209 25,100 6% 4%
Copper (USc/lb) 225 228 235 215 (1)% 9%
Nickel (USc/lb) 431 498 474 387 (13)% 22%
Iron Ore – FOB prices
Kumba Export (US$/dmt)(4) 64 53 67 55 21% 22%
Minas-Rio (US$/wmt)(5) 54 41 61 44 32% 39%
Coal
Australia and Canada
Metallurgical – HCC (U$/t)(6) 119 94 153 79 27% 94%
Metallurgical – PCI (US/t) (6) 77 77 91 70 0% 30%
Thermal – Export (U$/t) 55 55 65 47 0% 38%
Thermal – Domestic (U$/t, FOR) 24 28 25 24 (14)% 4%
South Africa
Thermal - Export (U$/t)(7) 60 55 69 50 9% 38%
Thermal – Domestic (U$/t, FOR) 17 19 17 16 (11)% 6%
Colombia
Thermal – Export (U$/t) 56 55 65 47 2% 38%
(1) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group
of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).
(2) Pricing based on 100% selling value post-aggregation.
(3) Average of the De Beers price index for the Sights within the twelve month period. The De Beers price index is relative to 100 as
at December 2006.
(4) Average realised export basket price (FOB Saldanha).
(5) Average realised export basket price (FOB Açu) (wet basis).
(6) Weighted average metallurgical coal sales price achieved.
(7) Weighted average export thermal coal price achieved.
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
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.
Anglo American plc
20 Carlton House Terrace London SW1Y 5AN United Kingdom
Registered office as above.
Incorporated in England and Wales under the Companies Act 1985.
Registered Number: 3564138
Legal Entity Identifier: 549300S9XF92D1X8ME43
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
26 January 2017
www.angloamerican.com
Date: 26/01/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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