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Production Report for the second quarter ended 30 June 2021
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
NEWS RELEASE
20 July 2021
Production Report for the second quarter ended 30 June 2021
Mark Cutifani, Chief Executive of Anglo American, said: "We have delivered a solid operational
performance supported by comprehensive Covid-19 measures to help safeguard the lives and livelihoods of
our workforce and host communities. We have generally maintained operating levels at approximately 95%(1)
of normal capacity and, as a consequence, production increased by 20%(2) compared to Q2 of last year, with
planned higher rough diamond production at De Beers, as well as strong plant performance at our Los Bronces
copper operation in Chile and higher throughput at our Mogalakwena platinum group metals mine in South Africa.
"We also successfully completed the demerger of our thermal coal operations in South Africa and announced
the sale of our minority interest in Cerrejon in Colombia, marking the last stage of our transition from thermal
coal operations, ahead of schedule. Our portfolio and growth investments are increasingly focused on those
future-enabling metals and minerals that are critical to decarbonising energy and transport and to meeting
consumers' growing needs, from luxury to everyday."
Q2 highlights
- Completed the demerger of the South Africa thermal coal operations.
- Announced the sale of our 33% interest in the Cerrejon thermal coal mine, subject to regulatory approvals.
- Rough diamond production increased by 134%, reflecting planned higher production in response to the
ongoing consumer demand recovery.
- Platinum Group Metals (PGMs) production increased by 59%, with Mogalakwena production increasing by
11%, reflecting the relatively lower impact of Covid-19 lockdowns compared to Q2 2020. Strong refined
output reflected stable performance from the ACP Phase A unit.
- Iron ore production increased by 6%, driven primarily by Kumba, reflecting the lower impact of Covid-19
lockdowns compared to Q2 2020.
- Copper production increased by 2% due to strong plant performance at Los Bronces.
- At our longwall metallurgical coal operations, mining restarted at Moranbah at the beginning of June and
development work at Grosvenor continues to progress, with restart expected towards the end of the year.
Production Q2 2021 Q2 2020 % vs. Q2 2020 H1 2021 H1 2020 % vs. H1 2020
Diamonds (Mct)(3) 8.2 3.5 134% 15.4 11.3 37%
Copper (kt)(4) 170 167 2% 330 314 5%
Platinum group metals (koz)(5) 1,058 665 59% 2,079 1,620 28%
Iron ore (Mt)(6) 15.7 14.8 6% 31.9 30.8 3%
Metallurgical coal (Mt) 3.0 4.0 (25)% 6.2 7.8 (20)%
Nickel (kt)(7) 10.6 10.8 (2)% 20.7 21.7 (5)%
Manganese ore (kt) 941 796 18% 1,845 1,639 13%
Thermal coal (Mt)(8) 4.3 4.4 (1)% 9.3 10.5 (12)%
(1) Production capacity excludes Moranbah and Grosvenor.
(2) Copper equivalent production is normalised to reflect the demerger of the South Africa thermal coal
operations and the closure of the manganese alloy operations and excludes the impact of the Grosvenor suspension
and announced sale of Cerrejon. Including the impact of Grosvenor and Cerrejon, copper equivalent production increased by 20%
compared to Q2 2020.
(3) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(4) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the
Platinum Group Metals business unit).
(5) Produced ounces of metal in concentrate. 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold). Reflects
own mine production and purchase of concentrate.
(6) Wet basis.
(7) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).
(8) Reflects export primary production, secondary production sold into export markets and production sold domestically at export parity
pricing from South Africa until the demerger of the South Africa thermal coal operations effective on 4 June 2021, and attributable
export production (33.3%) from Colombia (Cerrejon).
PRODUCTION OUTLOOK SUMMARY
2021 production guidance is summarised as follows:
2021 production guidance(1)
Diamonds(2) 32-33 Mct
(previously 32-34 Mct)
Copper(3) 650-680 kt
(previously 640-680 kt)
Platinum Group Metals(4) 4.2-4.4 Moz
(previously 4.2-4.6 Moz)
Iron ore(5) 64.5-66.5 Mt
(previously 64.5-67.5 Mt)
Metallurgical coal(6) 14-16 Mt
Nickel(7) 42-44 kt
(1) Subject to the extent of further Covid-19 related disruption.
(2) Subject to trading conditions and on a 100% basis except for the Gahcho Kue joint venture, which is on an attributable 51% basis.
(3) Copper business unit only. On a contained-metal basis.
(4) 5E + gold produced metal in concentrate ounces. Includes own mined production (~65%) and purchased concentrate volumes (~35%).
The split of metals differs for own mined and purchased concentrate, refer to FY2019 results presentation slide 30 for indicative
split of own mined volumes. FY2021 metal in concentrate production is expected to be 1.9-2.0 million ounces of platinum, 1.35-1.40 million
ounces of palladium and 0.95-1.0 million ounces of other PGMs and gold.
(5) Wet basis.
(6) Excludes thermal coal production in Australia.
(7) Nickel business unit only.
REALISED PRICES
H1 2021 H1 2020 H1 2021 vs H1 2020
De Beers
Consolidated average realised price ($/ct)(1) 135 119 13%
Average price index(2) 109 109 0%
Copper (USc/lb)(3) 460 250 84%
Platinum Group Metals
Platinum (US$/oz) 1,170 857 37%
Palladium (US$/oz) 2,641 2,141 23%
Rhodium (US$/oz) 24,377 8,985 171%
Basket price (US$/PGM oz)(4) 2,884 1,956 47%
Iron Ore - FOB prices(5) 210 90 133%
Kumba Export (US$/wmt)(6) 216 91 137%
Minas-Rio (US$/wmt)(7) 200 88 127%
Metallurgical Coal
HCC (US$/t)(8) 117 123 (5)%
PCI (US$/t)(8) 103 98 5%
Nickel (USc/lb) 721 502 44%
Thermal Coal
Australia (US$/t)(8) 87 58 50%
South Africa - Export (US$/t)(9) 77 61 26%
Colombia (US$/t) 65 46 41%
(1) Consolidated average realised price based on 100% selling value post-aggregation.
(2) Average of the De Beers price index for the Sights within the 6-month period. The De Beers price index is relative to 100 as at December 2006.
While the average H1 price index remained broadly flat year-on-year, the closing index increased by 14% compared to the start of 2021.
(3) The realised price for Copper excludes third party sales volumes.
(4) Price for a basket of goods per PGM oz. The dollar basket price is the net sales revenue from all metals (PGMs, base metals and other metals),
excluding trading, per 5E + gold sold ounces (own mined and purchased concentrate).
(5) Average realised total iron ore price is a weighted average of the Kumba and Minas-Rio realised prices. The comparative has been restated as
Kumba previously reported on a dry basis.
(6) Average realised export basket price (FOB Saldanha) (wet basis as product is shipped with ~1.6% moisture). The comparative has been restated as
Kumba previously reported on a dry basis. The realised prices differ to Kumba's standalone results due to sales to other Group companies.
Average realised export basket price (FOB Saldanha) on a dry basis is $220/t (H1 2020: $93/t) and this was higher than the dry 62% Fe benchmark
price of $166/t (FOB South Africa, adjusted for freight).
(7) Average realised export basket price (FOB Acu) (wet basis as product is shipped with ~9% moisture).
(8) Weighted average coal sales price achieved at managed operations.
(9) Weighted average export thermal coal price achieved until the demerger of the South Africa thermal coal operations effective on 4 June 2021.
DE BEERS
Q2 2021 Q2 2021 H1 2021
De Beers(1) (000 carats) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Botswana 5,727 1,825 214% 4,960 15% 10,687 7,469 43%
Namibia 338 358 (6)% 338 0% 676 869 (22)%
South Africa 1,276 555 130% 1,161 10% 2,437 1,306 87%
Canada 899 789 14% 710 27% 1,609 1,633 (1)%
Total carats recovered 8,240 3,527 134% 7,169 15% 15,409 11,277 37%
Rough diamond production increased by 134% to 8.2 million carats, reflecting planned higher production to
meet stronger demand for rough diamonds, as well as the impact of Covid-19 lockdowns across southern
Africa in Q2 2020.
In Botswana, production increased by 214% to 5.7 million carats, reflecting the impact of the Covid-19
lockdown in Q2 2020.
Namibia production decreased by 6% to 0.3 million carats, primarily due to planned maintenance of the Mafuta
vessel which completed in the quarter and another vessel remaining demobilised.
South Africa production increased by 130% to 1.3 million carats, due to planned treatment of higher grade ore
from the final cut of the Venetia open pit, as well as the impact of the Covid-19 lockdown in Q2 2020.
Production in Canada increased by 14% to 0.9 million carats, primarily reflecting the impact of the Covid-19
measures implemented in Q2 2020.
Consumer demand for polished diamonds continued to recover, leading to strong demand for rough diamonds
from midstream cutting and polishing centres, despite the impact on capacity from the severe Covid-19 wave
in India during April and May. Rough diamond sales totalled 7.3 million carats(2) (6.5 million carats on a
consolidated basis)(2)(3) from two Sights, reflecting the impact of the reduced Indian midstream capacity on
Sight 4, compared with 0.3 million carats (0.2 million carats on a consolidated basis)(3) from two Sights in Q2
2020, and 13.5 million carats (12.7 million carats on a consolidated basis)(3) from three Sights in Q1 2021.
The H1 2021 consolidated average realised price increased by 13% to $135/ct (H1 2020: $119/ct), driven by
an increased proportion of higher value rough diamonds sold. While the average price index remained broadly
flat, the closing index increased by 14% compared to the start of 2021, reflecting tightness in inventories across
the diamond value chain as well as positive consumer demand for polished diamonds.
Full Year Guidance
Production guidance(1) is tightened to 32-33 million carats (100% basis) (previously 32-34 million carats (100%
basis)), subject to trading conditions and the extent of any further Covid-19 related disruptions.
(1) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(2) Due to ongoing travel restrictions and the timing of Sight 3 at the end of Q1 2021, the Sight was extended beyond its normal week-long duration.
As a result, 0.2 Mct (total sales volume, 100% and consolidated basis) from Sight 3 were recognised in Q2 2021.
(3) Consolidated sales volumes exclude De Beers Group's JV partners' 50% proportionate share of sales to entities outside De Beers Group from the
Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).
Q2 2021 Q2 2021 H1 2021
De Beers(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Carats recovered (000 carats)
100% basis (unless stated)
Jwaneng 3,169 3,091 1,452 1,748 1,138 178% 3% 6,260 4,338 44%
Orapa(2) 2,558 1,869 2,811 3,079 687 272% 37% 4,427 3,131 41%
Botswana 5,727 4,960 4,263 4,827 1,825 214% 15% 10,687 7,469 43%
Debmarine Namibia 249 249 256 147 305 (18)% 0% 498 722 (31)%
Namdeb (land operations) 89 89 81 95 53 68% 0% 178 147 21%
Namibia 338 338 337 242 358 (6)% 0% 676 869 (22)%
Venetia 1,276 1,161 1,287 1,178 555 130% 10% 2,437 1,306 87%
South Africa 1,276 1,161 1,287 1,178 555 130% 10% 2,437 1,306 87%
Gahcho Kue (51% basis) 899 710 776 915 789 14% 27% 1,609 1,633 (1)%
Canada 899 710 776 915 789 14% 27% 1,609 1,633 (1)%
Total carats recovered 8,240 7,169 6,663 7,162 3,527 134% 15% 15,409 11,277 37%
Sales volumes
Total sales volume (100)% (Mct)(3) 7.3(4) 13.5(4) 6.9 6.6 0.3 n/a (46)% 20.8 9.2 126%
Consolidated sales volume (Mct)(3) 6.5(4) 12.7(4) 6.4 6.5 0.2 n/a (49)% 19.2 8.5 126%
Number of Sights (sales cycles) 2(4) 3(4) 2 3 2(5) 5(4) 4(5)
(1) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(2) Orapa constitutes the Orapa Regime which includes Orapa, Letlhakane and Damtshaa.
(3) Consolidated sales volumes exclude De Beers Group's JV partners' 50% proportionate share of sales to entities outside De Beers Group from
the Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).
(4) Due to ongoing travel restrictions and the timing of Sight 3 at the end of Q1 2021, the Sight event was extended beyond its normal week-long duration.
As a result, 0.2 Mct (total sales volume, 100% and consolidated basis) from Sight 3 were recognised in Q2 2021.
(5) Sight 3 in Q2 2020 was cancelled due to Covid-19 related restrictions on the movement of people and product.
COPPER
Q2 2021 Q2 2021 H1 2021
Copper(1) (tonnes) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Los Bronces 84,400 80,700 5% 78,800 7% 163,200 149,400 9%
Collahuasi (44% share) 74,300 75,700 (2)% 71,600 4% 145,900 142,200 3%
El Soldado 11,000 10,400 6% 9,900 11% 20,900 22,300 (6)%
Total Copper 169,700 166,800 2% 160,300 6% 330,000 313,900 5%
(1) Copper production shown on a contained metal basis. Reflects copper production from the Copper business unit only
(excludes copper production from the Platinum Group Metals business unit).
Copper production increased by 2% to 169,700 tonnes, driven by strong performance at Los Bronces, partly
offset by lower grade at Collahuasi.
Production from Los Bronces increased by 5% to 84,400 tonnes, with higher water availability as a result of
water-management initiatives resulting in a 32% increase in plant throughput, partially offset by planned lower
grade (0.68% vs 0.85%).
At Collahuasi, attributable production decreased by 2% to 74,300 tonnes, due to slightly lower grade (1.29%
vs 1.31%) and copper recovery (91.3% vs 92.0%).
Production from El Soldado increased by 6% to 11,000 tonnes.
Sales volumes in H1 2021 were impacted by temporary port closures in Chile due to heavy tidal swells limiting
vessel availability in the last two weeks of June. The H1 2021 average realised price of 460c/lb includes
181,072 tonnes of provisionally priced copper at an average price of 425c/lb.
Full Year Guidance
Production guidance is tightened to 650,000-680,000 tonnes (previously 640,000-680,000 tonnes), subject to
water availability and the extent of any Covid-19 related disruption.
Q2 2021 Q2 2021 H1 2021
Copper(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Los Bronces mine(2)
Ore mined 11,403,100 10,812,400 11,546,300 8,414,600 9,237,400 23% 5% 22,215,500 19,250,400 15%
Ore processed - Sulphide 13,168,200 11,520,400 13,031,300 11,956,800 9,987,200 32% 14% 24,688,600 17,046,700 45%
Ore grade processed -
Sulphide (% TCu)(3) 0.68 0.72 0.77 0.73 0.85 (20)% (6)% 0.70 0.90 (22)%
Production - Copper cathode 9,800 9,900 10,200 9,300 9,900 (1)% (1)% 19,700 19,800 (1)%
Production - Copper in concentrate 74,600 68,900 85,700 70,100 70,800 5% 8% 143,500 129,600 11%
Total production 84,400 78,800 95,900 79,400 80,700 5% 7% 163,200 149,400 9%
(Anglo American share 44%)
Ore mined 26,943,000 21,220,300 18,110,000 16,412,100 18,035,100 49% 27% 48,163,300 37,437,100 29%
Ore processed - Sulphide 14,334,300 14,441,600 12,928,700 14,612,300 14,192,800 1% (1)% 28,775,900 28,290,600 2%
Ore grade processed -
Sulphide (% TCu)(3) 1.29 1.26 1.18 1.27 1.31 (2)% 2% 1.27 1.26 1%
Production - Copper in concentrate 168,800 162,800 134,600 171,500 172,000 (2)% 4% 331,600 323,000 3%
Anglo American's 44% share of copper
production for Collahuasi 74,300 71,600 59,200 75,500 75,700 (2)% 4% 145,900 142,200 3%
El Soldado mine(2)
Ore mined 1,796,600 1,708,600 1,982,000 1,885,100 1,378,100 30% 5% 3,505,200 3,293,400 6%
Ore processed - Sulphide 1,834,800 1,755,100 1,902,500 1,788,700 1,771,600 4% 5% 3,589,900 3,230,500 11%
Ore grade processed -
Sulphide (% TCu)(3) 0.75 0.70 0.84 0.78 0.76 (1)% 7% 0.73 0.87 (16)%
Production - Copper in concentrate 11,000 9,900 12,700 10,800 10,400 6% 11% 20,900 22,300 (6)%
Chagres Smelter(2)
Ore smelted(4) 25,400 23,200 29,800 26,700 24,300 5% 9% 48,600 55,100 (12)%
Production 24,600 22,600 29,000 26,000 23,700 4% 9% 47,200 53,700 (12)%
Total copper production(5) 169,700 160,300 167,800 165,700 166,800 2% 6% 330,000 313,900 5%
Total payable copper production 162,600 154,300 161,200 159,200 160,300 1% 5% 316,900 302,000 5%
Total sales volumes 157,700 147,700 178,600 176,100 154,200 2% 7% 305,400 293,800 4%
Total payable sales volumes 149,200 143,200 172,600 167,900 148,200 1% 4% 292,400 282,500 4%
Third party sales(6) 82,800 74,000 133,400 112,600 130,800 (37)% 12% 156,800 207,100 (24)%
(1) Excludes copper production from the Platinum Group Metals business unit. Units shown are tonnes unless stated otherwise.
(2) Anglo American ownership interest of Los Bronces, El Soldado and the Chagres Smelter is 50.1%. Production is stated at 100% as Anglo American consolidates
these operations.
(3) TCu = total copper.
(4) Copper contained basis.
(5) Total copper production includes Anglo American's 44% interest in Collahuasi.
(6) Relates to sales of copper not produced by Anglo American operations.
PLATINUM GROUP METALS (PGMs)
Q2 2021 Q2 2021 H1 2021
PGMs 000 oz(1) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Metal in concentrate production 1,057.9 665.1 59% 1,021.2 4% 2,079.1 1,620.0 28%
Own mined(2) 709.2 430.2 65% 694.9 2% 1,404.1 1,084.8 29%
Purchase of concentrate (POC)(3) 348.7 234.9 48% 326.3 7% 675.0 535.2 26%
Refined production(4) 1,353.7 407.0 233% 973.0 39% 2,326.7 1,019.2 128%
(1) Ounces refer to troy ounces. PGMs is 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold).
(2) Includes managed operations and 50% of joint operation production.
(3) Includes the other 50% of joint operation production, as well as the purchase of concentrate from third parties.
(4) Refined production excludes toll refined material.
Metal in concentrate production
Own mined production increased by 65% to 709,200 ounces, following a strong recovery from the Covid-19
lockdowns in Q2 2020. Production at Mogalakwena increased by 11%, reflecting higher throughput. Production
at Amandelbult and the joint ventures increased by 270% to 185,300 ounces and 112% to 107,800 ounces,
respectively, as a result of the year-on-year recovery from Covid-19.
Purchase of concentrate increased by 48% to 348,700 ounces, also largely due to the year-on-year recovery
from Covid-19.
Refined production
Refined production increased by 233% to 1,353,700 ounces, reflecting strong performance from the ACP
Phase A unit following its successful start-up in November 2020. The ACP Phase B rebuild is on schedule for
completion in H2 2021.
Sales
Sales volumes increased by 162%, driven by higher refined production.
The H1 2021 average realised basket price of $2,884/PGM ounce reflects strong prices, particularly for
rhodium and the minor metals, partly offset by higher than normal sales volumes of lower priced ruthenium.
Full Year Guidance
Production guidance (metal in concentrate) is tightened to 4.2-4.4 million ounces(1) (previously 4.2-4.6 million
ounces). Refined production guidance is tightened to 4.8-5.0 million ounces(2) (previously 4.6-5.0 million
ounces), subject to the impact of Eskom load-shedding. Both are subject to the extent of further Covid-19
related disruption.
(1) Metal in concentrate production is expected to be 1.9-2.0 million ounces of platinum, 1.35-1.40 million ounces
of palladium and 0.95-1.0 million ounces of other PGMs and gold.
(2) Refined production is expected to be 2.2-2.3 million ounces of platinum, 1.55-1.60 million ounces of palladium and
1.05-1.1 million ounces of other PGMs and gold.
Q2 2021 Q2 2021 H1 2021
Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
M&C PGMs production (000 oz)(1) 1,057.9 1,021.2 1,076.1 1,112.8 665.1 59% 4% 2,079.1 1,620.0 28%
Own mined 709.2 694.9 716.9 747.3 430.2 65% 2% 1,404.1 1,084.8 29%
Mogalakwena 308.3 329.1 306.7 315.0 277.6 11% (6)% 637.4 559.9 14%
Amandelbult 185.3 156.0 185.5 204.8 50.1 270% 19% 341.3 217.8 57%
Unki 47.9 50.9 55.8 60.0 31.3 53% (6)% 98.8 80.3 23%
Mototolo 59.9 58.6 69.8 72.2 20.4 194% 2% 118.5 81.6 45%
Joint ventures(2) 107.8 100.3 99.1 95.3 50.8 112% 7% 208.1 145.2 43%
Purchase of concentrate 348.7 326.3 359.2 365.5 234.9 48% 7% 675.0 535.2 26%
Joint ventures(2) 107.8 100.3 99.0 95.3 50.8 112% 7% 208.1 145.2 43%
Third parties 240.9 226.0 260.2 270.2 184.1 31% 7% 466.9 390.0 20%
Refined PGMs production (000 oz)(1)(3) 1,353.7 973.0 673.1 1,020.7 407.0 233% 39% 2,326.7 1,019.2 128%
By metal:
Platinum 625.7 457.8 296.4 503.8 160.6 290% 37% 1,083.5 400.9 170%
Palladium 427.5 317.0 206.8 354.1 147.4 190% 35% 744.5 344.5 116%
Rhodium 94.3 63.0 47.1 48.9 30.6 208% 50% 157.3 77.9 102%
Other PGMs and gold 206.2 135.2 122.8 113.9 68.4 201% 53% 341.4 195.9 74%
Nickel (tonnes) 5,800 4,800 3,700 5,000 2,000 190% 21% 10,600 5,100 108%
Tolled material (000 oz)(4) 153.8 175.9 146.5 129.4 96.0 60% (13)% 329.7 227.6 45%
PGMs sales from production (000 oz)(1)(5) 1,437.1 1,131.1 754.3 884.9 548.0 162% 27% 2,568.2 1,229.3 109%
Third party PGMs sales (000 oz)(1)(6) 116.1 221.5 370.8 341.0 210.5 (45)% (48)% 337.6 459.1 (26)%
4E head grade (g/t milled)(7) 3.48 3.54 3.67 3.65 3.44 1% (2)% 3.51 3.44 2%
(1) Ounces refer to troy ounces. PGMs is 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold).
(2) The joint operations are Modikwa and Kroondal. Platinum owns 50% of these operations, which is presented under 'Own mined' production, and
purchases the remaining 50% of production, which is presented under 'Purchase of concentrate'.
(3) Refined production excludes toll material.
(4) Ounces refer to troy ounces. Tolled volume measured as the combined content of: platinum, palladium, rhodium and gold, reflecting the tolling
agreements in place.
(5) PGMs sales volumes from production are generally ~65% own mined and ~35% purchases of concentrate though this may vary from quarter to quarter.
(6) Relates to sales of metal not produced by Anglo American operations.
(7) 4E: the grade measured as the combined content of: platinum, palladium, rhodium and gold, excludes tolled material. Minor metals are excluded
due to variability.
IRON ORE
Q2 2021 Q2 2021 H1 2021
Iron Ore (000 t) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Iron Ore(1) 15,695 14,813 6% 16,173 (3)% 31,869 30,842 3%
Kumba(2) 9,818 8,615 14% 10,555 (7)% 20,372 18,219 12%
Minas-Rio(3) 5,878 6,198 (5)% 5,619 5% 11,496 12,622 (9)%
(1) Total iron ore is the sum of Kumba and Minas-Rio.
(2) Volumes are reported as wet metric tonnes. Product is shipped with ~1.6% moisture.
(3) Volumes are reported as wet metric tonnes. Product is shipped with ~9% moisture.
Iron ore production increased by 6% to 15.7 million tonnes, driven by a 14% increase at Kumba, partly offset
by a 5% decrease at Minas-Rio.
Kumba - Total production increased by 14% to 9.8 million tonnes reflecting the effect of Covid-19 lockdowns
in Q2 2020, and despite reduced Q2 2021 production in response to high stock levels at the mines following
rail constraints in Q1 2021. Production at Sishen increased by 17% to 6.9 million tonnes, while Kolomela
production increased by 7% to 2.9 million tonnes.
Export sales increased by 14% to 9.4 million tonnes(1), reflecting the increase in production.
The H1 2021 average lump:fines ratio in the Kumba product was 69:31 (H1 2020: 65:35), while the Fe content
averaged 64.1% (H1 2020: 64.4%).
The H1 2021 average realised price of $216/tonne (FOB South Africa, wet basis) was higher than the 62% Fe
benchmark price of $163/tonne (FOB South Africa, adjusted for freight and moisture) due to the lump and Fe
content quality premiums that the Kumba products attract in the market, as well as timing on provisionally
priced volumes.
Minas-Rio - Production decreased by 5% to 5.9 million tonnes due to further unplanned maintenance at the
beneficiation plant that is now complete, with the majority of the volumes expected to be recovered during the
remainder of the year.
The H1 2021 average realised price of $200/tonne (FOB Brazil, wet basis) was higher than the Metal Bulletin
66 price of $165/tonne (FOB Brazil, adjusted for freight and moisture), reflecting the premium quality of the
product, including higher (~67%) Fe content, and timing on provisionally priced volumes.
Full Year Guidance
Iron ore production guidance (wet basis) is tightened to 64.5-66.5 million tonnes (previously 64.5-67.5 million
tonnes) (Kumba 40.5-41.5 million tonnes; Minas-Rio 24-25 million tonnes (previously 24-26 million tonnes)),
subject to the extent of further Covid-19 related disruption, and rail performance at Kumba.
(1) Sales volumes are reported on a wet basis and differ to Kumba's standalone results due to sales to other Group companies.
Q2 2021 Q2 2021 H1 2021
Iron Ore (tonnes) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Iron Ore production(1) 15,695,300 16,173,400 16,183,200 14,677,400 14,812,500 6% (3)% 31,868,700 30,841,500 3%
Iron Ore sales(1) 14,973,600 15,716,400 16,600,200 15,861,400 14,828,700 1% (5)% 30,690,000 31,779,500 (3)%
Kumba production 9,817,600 10,554,700 9,717,600 9,683,600 8,614,500 14% (7)% 20,372,300 18,219,400 12%
Lump 6,723,700 7,156,100 6,589,100 6,592,200 5,803,900 16% (6)% 13,879,800 12,297,000 13%
Fines 3,093,900 3,398,600 3,128,500 3,091,400 2,810,600 10% (9)% 6,492,500 5,922,400 10%
Kumba production by mine
Sishen 6,876,800 7,071,200 6,583,400 6,615,300 5,877,400 17% (3)% 13,948,000 12,565,300 11%
Kolomela 2,940,800 3,483,500 3,134,200 3,068,300 2,737,100 7% (16)% 6,424,300 5,654,100 14%
Kumba sales volumes(2) 9,406,000 10,230,200 10,285,700 11,076,800 8,217,100 14% (8)% 19,636,200 19,086,700 3%
Export iron ore(2) 9,406,000 10,123,100 10,285,700 11,076,800 8,217,100 14% (7)% 19,529,100 18,729,000 4%
Domestic iron ore - 107,100 - - - n/a n/a 107,100 357,700 (70)%
Minas-Rio production
Pellet feed (wet basis) 5,877,700 5,618,700 6,465,600 4,993,800 6,198,000 (5)% 5% 11,496,400 12,622,100 (9)%
Minas-Rio sales volumes
Export - pellet feed (wet basis) 5,567,600 5,486,200 6,314,500 4,784,600 6,611,600 (16)% 1% 11,053,800 12,692,800 (13)%
(1) Total iron ore is the sum of Kumba and Minas-Rio and reported in wet metric tonnes. Kumba product is shipped with ~1.6% moisture and Minas-Rio product
is shipped with ~9% moisture.
(2) Sales volumes differ to Kumba's standalone results due to sales to other Group companies.
METALLURGICAL COAL
Q2 2021 Q2 2021 H1 2021
Metallurgical Coal(1) (000 t) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Metallurgical Coal (Australia) 2,969 3,977 (25)% 3,279 (9)% 6,247 7,803 (20)%
(1) Anglo American's attributable share of production.
Export metallurgical coal production was 3.0 million tonnes, down 25% due to the continued suspension of
operations at Grosvenor following the underground incident in May 2020, as well as the suspension of
Moranbah for most of the quarter. Open cut operations are returning towards pre-Covid-19 production levels
having been scaled back at Dawson and Capcoal since mid-2020 in response to reduced demand for the
products.
Development activities at Grosvenor began in early June as part of the mine's staged approach to restarting
longwall mining operations towards the end of 2021.
Longwall mining operations restarted at Moranbah on 3 June 2021, following the suspension from 21 February
2021 in response to elevated gas levels.
As a result of the lower volumes, the H1 2021 unit cost is expected to be circa $124/tonne.
The ratio of hard coking coal production to PCI/semi-soft coking coal was 78:22, lower than in Q2 2020 (81:19),
due to a lower proportion of product coming from the underground operations.
The H1 2021 average realised price for hard coking coal was $117/tonne, lower than the benchmark price of
$132/tonne as sales consisted of a lower proportion of premium quality hard coking coal from Moranbah and
Grosvenor.
Full Year Guidance
Production guidance for metallurgical coal is unchanged at 14-16 million tonnes, subject to the extent of any
Covid-19 related disruption.
Q2 2021 Q2 2021 H1 2021
Coal, by product (tonnes)(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Production volumes
Metallurgical Coal 2,968,600 3,278,500 4,182,400 4,836,100 3,977,200 (25)% (9)% 6,247,100 7,803,400 (20)%
Hard Coking Coal 2,319,500 2,511,200 3,221,200 3,969,100 3,221,500 (28)% (8)% 4,830,700 6,233,700 (23)%
PCI / SSCC 649,100 767,300 961,200 867,000 755,700 (14)% (15)% 1,416,400 1,569,700 (10)%
Export thermal Coal 519,000 372,400 562,300 587,000 468,000 11% 39% 891,400 871,300 2%
Sales volumes
Metallurgical Coal 2,856,300 3,112,300 4,318,300 4,818,000 3,901,300 (27)% (8)% 5,968,600 7,751,700 (23)%
Hard Coking Coal 2,246,200 2,462,100 3,536,900 4,130,000 3,305,000 (32)% (9)% 4,708,300 6,172,400 (24)%
PCI / SSCC 610,100 650,200 781,400 688,000 596,300 2% (6)% 1,260,300 1,579,300 (20)%
Export thermal Coal 572,000 492,000 725,800 500,100 651,700 (12)% 16% 1,064,000 1,058,900 0%
(1) Anglo American's attributable share of production.
Q2 2021 Q2 2021 H1 2021
Metallurgical coal, by operation (tonnes)(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Metallurgical Coal 2,968,600 3,278,500 4,182,400 4,836,100 3,977,200 (25)% (9)% 6,247,100 7,803,400 (20)%
Moranbah 56,600 595,100 1,209,200 2,008,500 761,800 (93)% (90)% 651,700 1,212,600 (46)%
Grosvenor - - - 4,500 560,900 n/a n/a - 1,101,800 n/a
Capcoal (incl. Grasstree) 1,554,100 1,346,600 1,680,900 1,328,800 1,221,900 27% 15% 2,900,700 2,605,200 11%
Dawson 569,800 600,600 461,200 588,300 638,400 (11)% (5)% 1,170,400 1,379,600 (15)%
Jellinbah 788,100 736,200 831,100 906,000 794,200 (1)% 7% 1,524,300 1,504,200 1%
(1) Anglo American's attributable share of production.
NICKEL
Q2 2021 Q2 2021 H1 2021
Nickel (tonnes) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Nickel 10,600 10,800 (2)% 10,100 5% 20,700 21,700 (5)%
Nickel production decreased by 2% to 10,600 tonnes, reflecting planned lower ore grade.
Full Year Guidance
Production guidance is unchanged at 42,000-44,000 tonnes, subject to the extent of further Covid-19 related
disruption.
Q2 2021 Q2 2021 H1 2021
Nickel (tonnes) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Barro Alto
Ore mined 976,200 628,500 1,001,600 1,712,200 1,166,200 (16)% 55% 1,604,700 1,484,200 8%
Ore processed 641,500 616,700 628,000 536,600 625,900 2% 4% 1,258,200 1,236,000 2%
Ore grade processed - %Ni 1.56 1.53 1.71 1.72 1.60 (3)% 2% 1.55 1.60 (3)%
Production 8,800 8,200 9,500 8,000 8,800 0% 7% 17,000 17,500 (3)%
Codemin
Ore mined - - - 3,200 - n/a n/a - - n/a
Ore processed 136,400 136,600 147,600 142,100 145,800 (6)% 0% 273,000 291,600 (6)%
Ore grade processed - %Ni 1.52 1.51 1.71 1.71 1.59 (4)% 1% 1.52 1.61 (6)%
Production 1,800 1,900 2,200 2,200 2,000 (10)% (5)% 3,700 4,200 (12)%
Total Nickel production(1) 10,600 10,100 11,700 10,200 10,800 (2)% 5% 20,700 21,700 (5)%
Sales volumes 9,800 10,200 11,700 10,900 9,800 0% (4)% 20,000 20,400 (2)%
(1) Excludes nickel production from the Platinum Group Metals business unit.
MANGANESE
Q2 2021 Q2 2021 H1 2021
Manganese (000 t) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Manganese ore(1) 941 796 18% 905 4% 1,845 1,639 13%
Manganese alloys(1)(2) - 23 n/a - n/a - 48 n/a
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
Manganese ore production increased by 18% to 940,500 tonnes, reflecting the impact of Covid-19 lockdowns
in South Africa in Q2 2020.
There was no manganese alloy production as the South African smelter has been on care and maintenance
since the Covid-19 lockdown. The TEMCO smelter in Australia was sold at the start of 2021.
Q2 2021 Q2 2021 H1 2021
Manganese (tonnes) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Samancor production
Manganese ore(1) 940,500 904,500 942,400 938,700 796,000 18% 4% 1,845,000 1,638,900 13%
Manganese alloys(1)(2) - - 14,600 18,300 23,200 n/a n/a - 47,600 n/a
Samancor sales volumes
Manganese ore 980,200 878,200 936,800 976,200 810,700 21% 12% 1,858,400 1,616,100 15%
Manganese alloys - 670 24,500 22,700 23,400 n/a n/a 670 56,200 n/a
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
THERMAL COAL
Q2 2021 Q2 2021 H1 2021
Thermal Coal(1) (000 t) Q2 Q2 vs. Q1 vs. H1 H1 vs.
2021 2020 Q2 2020 2021 Q1 2021 2021 2020 H1 2020
Export Thermal Coal (South Africa)(2) 2,534 3,588 (29)% 3,149 (20)% 5,682 7,783 (27)%
Export Thermal Coal (Colombia)(3) 1,784 767 132% 1,795 (1)% 3,579 2,745 30%
(1) Anglo American's attributable share of production.
(2) Includes export primary production, secondary production sold into export markets and production sold domestically at export
parity pricing until the demerger of the South Africa thermal coal operations effective 4 June 2021.
(3) Anglo American's attributable share of Cerrejon production is 33.3%. The sale of Anglo American's interest in Cerrejon is
expected to complete in H1 2022, subject to regulatory approvals. The agreement is effective 31 December 2020 and, therefore,
economic benefits of production from 1 January 2021 onwards will not accrue to Anglo American.
Thermal Coal, South Africa - Export thermal coal production decreased by 29% to 2.5 million tonnes,
primarily due to the demerger of the South Africa thermal coal operations on 4 June 2021.
Thermal Coal, Colombia - Attributable export thermal coal production more than doubled to 1.8 million tonnes,
reflecting the impact of Covid-19 lockdowns in Q2 2020.
The H1 2021 weighted average realised price for export thermal coal from South Africa and Colombia was
$72/tonne (South Africa: $77/tonne; Colombia: $65/tonne). This was 16% lower than the weighted average
quoted FOB price, largely due to energy content adjustments relative to the industry benchmark.
Full Year Guidance
Following the demerger of the South Africa thermal coal operations on 4 June 2021, no further production will
be reported by Anglo American. Product purchased from Thungela under the offtake agreement will be
reported as third party.
The sale of Anglo American's 33% interest in Cerrejon is expected to complete in H1 2022, subject to regulatory
approvals. The agreement is effective on the 31 December 2020 and, therefore, economic benefits of
production from 1 January 2021 onwards will not accrue to Anglo American.
Q2 2021 Q2 2021 H1 2021
Thermal Coal (tonnes)(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Production volumes
Thermal Coal 6,742,700 8,080,400 8,059,500 9,575,400 8,293,000 (19)% (17)% 14,823,100 16,973,400 (13)%
Export - South Africa(2) 2,533,600 3,148,500 4,085,000 4,595,400 3,587,600 (29)% (20)% 5,682,100 7,782,700 (27)%
Export - Colombia(3) 1,784,000 1,794,900 347,000 1,037,700 767,400 132% (1)% 3,578,900 2,745,300 30%
Domestic - South Africa 2,425,100 3,137,000 3,627,500 3,942,300 3,938,000 (38)% (23)% 5,562,100 6,445,400 (14)%
Sales volumes
Thermal Coal 9,743,900 10,701,500 10,086,000 10,854,100 10,502,900 (7)% (9)% 20,445,400 21,892,000 (7)%
Export - South Africa(2) 2,250,100 3,085,200 4,872,100 4,512,700 3,264,300 (31)% (27)% 5,335,300 7,188,300 (26)%
Export - Colombia(3) 1,618,700 1,746,300 369,900 993,800 1,142,500 42% (7)% 3,365,000 3,170,600 6%
Domestic - South Africa 2,325,300 3,023,800 2,994,600 3,407,700 3,558,700 (35)% (23)% 5,349,100 5,967,100 (10)%
Third party sales 3,549,800 2,846,200 1,849,400 1,939,900 2,537,400 40% 25% 6,396,000 5,566,000 15%
(1) Anglo American's attributable share of production.
(2) Includes export primary production, secondary production sold into export markets and production sold domestically at export parity pricing
until the demerger of the South Africa thermal coal operations effective 4 June 2021.
(3) Anglo American's attributable share of Cerrejon production is 33.3%. The sale of Anglo American's interest in Cerrejon is expected to complete
in H1 2022, subject to regulatory approvals. The agreement is effective 31 December 2020 and, therefore, economic benefits of production and sales,
from 1 January 2021 onwards will not accrue to Anglo American.
Q2 2021 Q2 2021 H1 2021
Production, by operation (tonnes)(1) Q2 Q1 Q4 Q3 Q2 vs. vs. H1 H1 vs.
2021 2021 2020 2020 2020 Q2 2020 Q1 2021 2021 2020 H1 2020
Thermal Coal - South Africa(2) 4,958,700 6,285,500 7,712,500 8,537,700 7,525,600 (34)% (21)% 11,244,200 14,228,100 (21)%
Goedehoop 1,320,500 1,704,000 1,907,500 1,816,600 1,192,500 11% (23)% 3,024,500 2,399,900 26%
Greenside 632,700 768,200 938,000 1,199,000 1,179,100 (46)% (18)% 1,400,900 2,357,000 (41)%
Zibulo 841,000 1,204,800 1,099,900 1,429,900 1,331,100 (37)% (30)% 2,045,800 2,622,800 (22)%
Khwezela 633,500 529,900 1,444,200 1,735,100 1,383,700 (54)% 20% 1,163,400 3,003,100 (61)%
Mafube 282,600 446,400 491,300 503,100 339,200 (17)% (37)% 729,000 823,800 (12)%
Other(3) 1,248,400 1,632,200 1,831,600 1,854,000 2,100,000 (41)% (24)% 2,880,600 3,021,500 (5)%
Thermal Coal - Colombia (Cerrejon)(4) 1,784,000 1,794,900 347,000 1,037,700 767,400 132% (1)% 3,578,900 2,745,300 30%
(1) Anglo American's attributable share of production.
(2) Export and domestic production until the demerger of the South Africa thermal coal operations effective on 4 June 2021; Isibonelo and Rietvlei produce
exclusively domestic volumes.
(3) Other includes Isibonelo and Rietvlei.
(4) Anglo American's attributable share of Cerrejon production is 33.3%. The sale of Anglo American's interest in Cerrejon is expected to complete in H1 2022,
subject to regulatory approvals. The agreement is effective 31 December 2020 and, therefore, economic benefits of production from 1 January 2021 onwards
will not accrue to Anglo American.
EXPLORATION AND EVALUATION
Exploration and evaluation expenditure increased by 56% to $67 million. Exploration expenditure increased
by 39% to $25 million driven by increased drilling at Sakatti (Copper/PGMs) in Finland and Iron Ore, reflecting
the impact of Covid-19 in Q2 2020. Evaluation expenditure increased by 68% to $42 million, with increased
spend at Metallurgical Coal, Sakatti (Copper/PGMs) and Diamonds.
NOTES
- This Production Report for the quarter ended 30 June 2021 is unaudited.
- Production figures are sometimes more precise than the rounded numbers shown in this Production
Report.
- Copper equivalent production shows changes in underlying production volume. It is calculated by
expressing each product's volume as revenue, subsequently converting the revenue into copper
equivalent units by dividing by the copper price (per tonne). Long-term forecast prices are used, in order
that period-on-period comparisons exclude any impact for movements in price.
- Please refer below for information on forward-looking statements.
In this document, references to "Anglo American", the "Anglo American Group", the "Group", "we", "us", and
"our" are to refer to either Anglo American plc and its subsidiaries and/or those who work for them generally,
or where it is not necessary to refer to a particular entity, entities or persons. The use of those generic terms
herein is for convenience only, and is in no way indicative of how the Anglo American Group or any entity within
it is structured, managed or controlled. Anglo American subsidiaries, and their management, are responsible
for their own day-to-day operations, including but not limited to securing and maintaining all relevant licences
and permits, operational adaptation and implementation of Group policies, management, training and any
applicable local grievance mechanisms. Anglo American produces group-wide policies and procedures to
ensure best uniform practices and standardisation across the Anglo American Group but is not responsible for
the day to day implementation of such policies. Such policies and procedures constitute prescribed minimum
standards only. Group operating subsidiaries are responsible for adapting those policies and procedures to
reflect local conditions where appropriate, and for implementation, oversight and monitoring within their specific
businesses.
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 Emma Waterworth
marcelo.esquivel@angloamerican.com emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 8574
Katie Ryall Michelle Jarman
katie.ryall@angloamerican.com michelle.jarman@angloamerican.com
Tel: +44 (0)20 7968 8935 Tel: +44 (0)20 7968 1494
South Africa
Nevashnee Naicker
nevashnee.naicker@angloamerican.com
Tel: +27 (0)71 164 5719
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Notes to editors:
Anglo American is a leading global mining company and our products are the essential ingredients in almost
every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future
development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more
sustainable world and that meet the fast growing every day demands of billions of consumers. With our people
at the heart of our business, we use innovative practices and the latest technologies to discover new resources
and to mine, process, move and market our products to our customers - safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality
iron ore and metallurgical coal for steelmaking, and nickel - with crop nutrients in development - we are
committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan
commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving
communities and building trust as a corporate leader. We work together with our business partners and diverse
stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and
countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining
mining to improve people's lives.
Forward-looking statements and third-party information:
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 Ore Reserves and
Mineral Resource estimates) and environmental, social and corporate governance goals and aspirations, 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, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases,
the outcome of litigation or regulatory proceedings, 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 courts,
regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of
operations or maintenance of Anglo American's assets 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 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 Swiss 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. Nothing in this announcement
should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its
historical published earnings per share.
Certain statistical and other information about Anglo American included in this announcement is sourced from publicly
available third-party sources. As such, it has not been independently verified and presents the views of those third parties,
though these may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims
any responsibility for, or liability in respect of, such information.
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)
20 July 2021
Date: 20-07-2021 08:00:00
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