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22 October, 2019

Anglo American plc Production Report for the third quarter ended 30 September 2019.

Mark Cutifani, Chief Executive of Anglo American , said: "Production is up 4% (1) for the quarter, driven by the continued successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal. De Beers production is lower, as expected, with Victor mine now at the end of its life and the transition of Venetia to underground. We remain broadly on track to deliver within our full year production targets, with an increase in production guidance at Minas-Rio. We expect to deliver to our production guidance for Copper and Thermal Coal, albeit at the lower end of their ranges; with Copper working to mitigate the effect of drought conditions in central Chile. "

Production summary

  • De Beers' diamond production decreased by 14% to 7.4 million carats due to planned mine closures and the underground transition at Venetia, and as we continue to produce to weaker market demand due to macro-economic uncertainty as well as continued midstream weakness.
  • Copper production decreased by 8% to 158,900 tonnes due to unprecedented drought conditions impacting Los Bronces in Chile.
  • Platinum and palladium production were broadly unchanged at 526,800 ounces and 351,800 ounces respectively.
  • Kumba's iron ore production was unchanged at 10.5 million tonnes as increased production at Sishen was offset by lower production at Kolomela due to a plant upgrade.
  • Minas-Rio's strong operational performance continued as iron ore production reached 6.1 million tonnes.
  • Metallurgical coal production increased by 22% to 6.6 million tonnes due to improved wash plant throughput and equipment efficiency, as well as timing of longwall moves.
Q3 2019 Q3 2018 % vs. Q3 2018 YTD 2019 YTD 2018 % vs. YTD 2018
Diamonds (Mct) (3) 7.4 8.7 (14)% 23.0 26.2 (12)%
Copper (kt) (4) 159 172 (8)% 479 485 (1)%
Platinum (koz) (5) 527 530 (2) (1)% 1,519 1,535 (2) (1)%
Palladium (koz) (5) 352 351 (2) 0% 1,026 1,051 (2) (2)%
Iron ore – Kumba (Mt) 10.5 10.5 0% 30.6 32.9 (7)%
Iron ore – Minas-Rio (Mt) (6) 6.1 - n / a 17.0 3.2 n / a
Metallurgical coal (Mt) 6.6 5.4 twenty two% 16.6 16.2 2%
Thermal coal (Mt) (7) 6.3 7.7 (18)% 19.6 21.7 (10)%
Nickel (kt) (8) 11.3 11.5 (2)% 30.9 30.9 0%
Manganese ore (kt) 910 888 3% 2,611 2,635 (1)%

(1) Copper equivalent production is normalised to reflect closure of Voorspoed (De Beers) and Sibanye-Stillwater Rustenburg material that has transitioned to a tolling arrangement (Platinum Group Metals). Excluding the impact of Minas-Rio, Group copper equivalent production is down 2% in the quarter.
(2) Normalised for the transition of Sibanye-Stillwater Rustenburg material from purchased concentrate to a tolling arrangement.
(3) De Beers production is on a 100% basis, except for the Gahcho Kué 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. Reflects own mine production and purchases.
(6) Wet basis.
(7) Reflects export production from South Africa and attributable export production (33.3%) from Colombia.

(8) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).

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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 mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world and that meet the fast 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 – safely, responsibly and sustainably.

As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore, coal, nickel and manganese – we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.

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