Wrap Text
Investor visit to Anglo American’s copper business
Anglo American plc (the "Company")
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
27 November 2018
Investor visit to Anglo American's Copper business
Anglo American plc ("Anglo American") is this week hosting a number of analysts and investors
on a visit to Santiago, Chile and Lima, Peru to provide a detailed overview of Anglo American's
three world-class copper assets: Los Bronces and Collahuasi in Chile, and Quellaveco in Peru.
Mark Cutifani, Chief Executive of Anglo American, said: "This week's visit will highlight the Tier 1
quality of Anglo American's copper assets and the significant performance improvements that
we continue to deliver. We are also progressing a number of low cost copper growth opportunities
- from our Quellaveco mine where construction is under way in Peru, to the development options
we have at Los Bronces and Collahuasi in Chile, and our targeted mineral discovery portfolio.
"We expect the supply of copper to become further constrained in the years and decades ahead
as the key ingredient in the fast-growing renewable energy and electric vehicle markets, in
addition to the infrastructure, housing and consumer electronics markets that continue to be
fuelled by the world's fast-expanding middle class population. The world-class quality of our
copper assets and our many options for disciplined growth position Anglo American well to meet
that significant additional demand."
Anglo American is today increasing its copper production guidance from its operations in Chile
for 2018 and the following three years, as follows:
2018: ~660,000 tonnes (from 630,000 – 660,000 tonnes previously)
2019: 630,000 – 660,000 tonnes (from 600,000 – 660,000 tonnes previously)
2020: 620,000 – 680,000 tonnes (from 600,000 – 660,000 tonnes previously)
2021: 590,000 – 650,000 (new guidance)
Unit cost guidance for 2018 is lowered to ~140 c/lb (from ~145 c/lb previously) and 2019 guidance
is 135 – 140 c/lb (new guidance).
Anglo American expects to add the first production from its Quellaveco mine in Peru in 2022.
Quellaveco will produce 300,000 tonnes of copper equivalent per year, at a highly competitive
first quartile cash cost of $1.05 per pound of copper, both on average over the mine’s first ten
years. With a current Reserve Life of 30 years, Quellaveco provides significant expansion
potential which, in combination with other organic growth opportunities, puts Anglo American on
track towards producing more than one million tonnes of copper per year in the medium term.
The presentations that will be made during the visit will be available on the Anglo American
website www.angloamerican.com/investors/investor-presentations/2018.
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
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 Robert Greenberg
marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
South Africa Emma Waterworth
Pranill Ramchander emma.waterworth@angloamerican.com
pranill.ramchander@angloamerican.com Tel: +44 (0)20 7968 8574
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786
Forward-looking statements:
This announcement includes forward-looking statements. All statements other than statements
of historical facts included in this announcement, including, without limitation, those regarding
Anglo American's financial position, business, acquisition and divestment strategy, dividend
policy, plans and objectives of management for future operations (including development plans
and objectives relating to Anglo American's products, production forecasts and reserve and
resource positions), are forward-looking statements. By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of Anglo American, or industry results, to be
materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo
American's present and future business strategies and the environment in which Anglo American
will operate in the future. Important factors that could cause Anglo American's actual results,
performance or achievements to differ materially from those in the forward-looking statements
include, among others, levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development capabilities, recovery
rates and other operational capabilities, the availability of mining and processing equipment, the
ability to produce and transport products profitably, the availability of transportation infrastructure,
the impact of foreign currency exchange rates on market prices and operating costs, the
availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions
in relevant areas of the world, the actions of competitors, activities by governmental authorities
such as permitting and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land and resource
ownership rights and such other risk factors identified in Anglo American’s most recent Annual
Report. Forward-looking statements should, therefore, be construed in light of such risk factors
and undue reliance should not be placed on forward-looking statements.
These forward-looking statements speak only as of the date of this announcement. Anglo
American expressly disclaims any obligation or undertaking (except as required by applicable
law, the City Code on Takeovers and Mergers (the "Takeover Code"), the UK Listing Rules, the
Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings
Requirements of the securities exchange of the JSE Limited in South Africa, the SIX Exchange,
the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable
regulations) to release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Anglo American's expectations with regard thereto or
any change in events, conditions or circumstances on which any such statement is based.
Notes to editors:
Anglo American is a global diversified mining business and our products are the essential
ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining
operations and undeveloped resources provides the metals and minerals to meet the growing
consumer-driven demands of the world's developed and maturing economies. With our people
at the heart of our business, we use innovative practices and the latest technologies to discover
new resources and mine, process, move and market our products to our customers around the
world.
As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious
metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources.
We work together with our key partners and stakeholders to unlock the sustainable value that
those resources represent for our shareholders, the communities and countries in which we
operate and for society at large. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Legal Entity Identifier: 549300S9XF92D1X8ME43
The Company has a primary listing on the Main Market of the London Stock Exchange and
secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the
Namibia Stock Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27/11/2018 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
