24 April 2014
Anglo American plc
Interim Management Statement for the first quarter ended 31 March 2014
Overview
|
Q1 2014 |
Q1 2013 |
% vs. Q1 2013 |
Iron ore (Mt) |
11.3 |
10.3 |
+10% |
Export metallurgical coal (Mt) |
6.1 |
4.6 |
+31% |
Export thermal coal (Mt) |
7.9 |
6.9 |
+14% |
Copper (t) |
202,000 |
170,500 |
+18% |
Nickel (t) |
9,200 |
6,200 |
+48% |
Platinum (equivalent refined)(1) (koz) |
357 |
583 |
(39)% |
Diamonds (Mct) |
7.5 |
6.4 |
+18% |
· Kumba Iron Ore production increased by 10% to 11.3 million tonnes, following solid performances at both Sishen and Kolomela. Q1 2013 was impacted by lower than planned production at Sishen following the unprotected strike in Q4 2012
· Export metallurgical coal production increased by 31% to 6.1 million tonnes, a record quarter, primarily as a result of continuing productivity improvements
· Export thermal coal production from South Africa increased by 6% to 4.1 million tonnes. Cerrejón's production increased by 95% reflecting the strike affected Q1 2013 period
· Copper production(2) increased by 18% to 202,000 tonnes, with improved performance from Los Bronces and Collahuasi, primarily the result of higher ore grades. Production guidance for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes (previously 700,000 - 720,000 tonnes)
· Nickel production(3) increased by 48% to 9,200 tonnes driven by improved operational stability at Barro Alto
· Niobium production was flat at 1,100 tonnes as higher recoveries were offset by lower ore grade
· Phosphates concentrate production was flat at 347,900 tonnes. Fertiliser production decreased by 2% due to unplanned maintenance stoppage and throughput constraints
· Platinum equivalent refined production decreased by 39% to 357,000 ounces as a result of the industrial action at Rustenburg, Amandelbult and Union mines in South Africa. As a consequence of the ongoing industrial action FY 2014 production guidance has been revised downwards to approximately 2.1 million ounces (previously 2.3 - 2.4 million ounces)
· Diamond production increased by 18% to 7.5 million carats, largely due to the impact of planned plant maintenance at Orapa in Q1 2013 and recovery from the 2012 sidewall failure at Jwaneng
(1) Equivalent refined is the mines' production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited's standard smelting and refining recoveries
(2) Copper production from the Copper business unit
(3) Nickel production from the Nickel business unit
IRON ORE AND MANGANESE
Iron Ore and Manganese |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Iron ore |
000 t |
11,328 |
10,335 |
10% |
11,286 |
0% |
Manganese ore |
000 t |
692 |
803 |
(14)% |
846 |
(18)% |
Manganese alloys |
000 t |
65 |
57 |
13% |
66 |
(2)% |
Iron Ore - Production from Kumba Iron Ore increased by 10% to 11.3 million tonnes. Sishen production increased by 15% to 8.7 million tonnes due to increased plant throughput and the recovery from lower than expected production in Q1 2013 following the unprotected strike in Q4 2012. Implementation of the production recovery plan at Sishen continued during the quarter, although this was hampered by heavy rainfall that affected waste removal. Waste removal, however, increased by 3.4% compared to Q1 2013.
Kolomela mine produced 2.5 million tonnes, which is in line with the name plate capacity of 10 million tonnes.
Maintenance on a reclaimer at Kolomela, which suffered structural damage, affected export sales volumes resulting in a decrease of 5% to 9.4 million tonnes.
FY 2014 production guidance for Sishen and Kolomela mines remains unchanged at 44 - 46 million tonnes.
The Minas-Rio iron ore project in Brazil continued to progress in line with the target of achieving first ore on ship by the end of 2014 and with total capex unchanged at $8.8 billion. Activities at the beneficiation plant, pipeline, filtration plant and port continued as planned and the project was 88% completed at the end of Q1 2014.
Manganese ore- Production decreased by 14% to 692,200 tonnes, due to higher than usual rainfall in Australia, which impacted feed rates and yields, and planned maintenance in South Africa.
Manganese alloy - Production increased by 13% to 64,800 tonnes due to process optimisation at Temco in Australia and additional capacity from the M14 furnace at Metalloys in South Africa.
COAL
Coal |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Australia & Canada |
|
|
|
|
|
|
Metallurgical - Export |
000 t |
6,053 |
4,615 |
31% |
4,733 |
28% |
Thermal - Export |
000 t |
769 |
1,494 |
(49)% |
1,585 |
(51)% |
Thermal - Domestic |
000 t |
1,228 |
1,073 |
14% |
1,689 |
(27)% |
South Africa |
|
|
|
|
|
|
Thermal - Export |
000 t |
4,149 |
3,909 |
6% |
4,602 |
(10)% |
Thermal - Domestic (Eskom) |
000 t |
7,407 |
8,130 |
(9)% |
7,618 |
(3)% |
Thermal - Domestic (Non-Eskom) |
000 t |
1,360 |
1,519 |
(10)% |
1,234 |
10% |
Colombia |
|
|
|
|
|
|
Thermal - Export |
000 t |
2,948 |
1,512 |
95% |
3,290 |
(10)% |
Australia & Canada - Export metallurgical coal production increased by 31% to 6.1 million tonnes due to record production from the underground operations, with longwall cutting hours at Grasstree (Capcoal underground) and Moranbah improving by 63% and 33%, respectively.
Australian export thermal coal production decreased by 49% to 0.8 million tonnes, due to a product mix change with an increase in metallurgical coal production, while lower production from Drayton was due to the mine nearing the end of its life.
Construction work on the greenfield Grosvenor metallurgical coal project in Queensland is nearing 50% completion. Critical engineering and procurement activities have been completed and the majority of the project budget has been contracted and committed. Longwall production remains scheduled to commence at the end of 2016 and within budget of $1.95 billion.
South Africa - Export thermal coal production increased by 6% to 4.1 million tonnes due to improved operational performance at Greenside and mine ramp up at Zibulo.
Production to Eskom was 9% lower at 7.4 million tonnes due to excessive rainfall at New Vaal and a delayed start-up post the longwall move at New Denmark.
Domestic non-Eskom production decreased by 10% to 1.4 million tonnes due to excessive rainfall at Landau.
Colombia - Cerrejón's production increased by 95% predominantly due to the effect of a 32 day strike during Q1 2013.
Export metallurgical coal FY 2014 production guidance for Australia and Canada remains unchanged at 18 - 20 million tonnes. Export thermal coal FY 2014 production guidance for South Africa and Colombia remains unchanged at 29 - 30 million tonnes.
BASE METALS AND MINERALS - COPPER
Copper |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Copper |
t |
202,000 |
170,500 |
18% |
214,300 |
(6)% |
|
|
|
|
|
|
|
Copper - Copper production increased by 19% to 202,000 tonnes. Los Bronces' production increased by 17% to 115,600 tonnes, with higher grades and continued throughput improvement at both plants. Higher grades reflect adjustments to the sequencing of extraction from the mine which sees higher grade areas being mined sooner. As the year progresses, lower grades are expected to offset these early gains.
Collahuasi's production increased by 78% due to continuing higher grades and the SAG Mill 3 shutdown in Q1 2013. Higher grades reflect the current phase of mining and the accelerated ore extraction of the phase to maximise productivity. Lower grades are expected later in the year as ore supply increases from the next phase.
Production at El Soldado decreased by 37% to 9,900 tonnes. As previously reported, the intersection with a geological fault has delayed the development of the next major phase of ore supply resulting in lower ore availability and grades.
The recent earthquake in the northern region of Chile had minimal impact on copper operations.
Production guidance for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes from 700,000 - 720,000 tonnes, reflecting the mining of higher grade phases at Los Bronces and Collahuasi at the beginning of 2014.
BASE METALS AND MINERALS - NICKEL
Nickel |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Nickel |
t |
9,200 |
6,200 |
48% |
10,200 |
(10)% |
|
|
|
|
|
|
|
Nickel - Production increased by 48% to 9,200 tonnes, despite a decrease in ore grades. Barro Alto produced 6,900 tonnes of nickel, an increase of 68%, reflecting continued operational stability as well as the impact from the Q1 2013 planned stoppage of Line 2 for the electric furnace sidewall rebuild, followed by the metal run-out during the start-up. The first full furnace rebuild at Barro Alto is expected to start, as planned, in late 2014.
Codemin's production increased by 10% to 2,300 tonnes, mainly due to rephasing of annual maintenance from Q1 to Q2 2014.
Production guidance for FY 2014 remains unchanged at 30,000 - 35,000 tonnes.
BASE METALS AND MINERALS - NIOBIUM & PHOSPHATES
Niobium & Phosphates |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Niobium |
|
|
|
|
|
|
Production |
t |
1,100 |
1,100 |
0% |
1,200 |
(8)% |
Phosphates |
|
|
|
|
|
|
Concentrate |
t |
347,900 |
348,000 |
0% |
353,400 |
(2)% |
Phosphoric Acid |
t |
53,800 |
77,500 |
(31)% |
78,000 |
(31)% |
Fertiliser |
t |
267,200 |
273,200 |
(2)% |
299,000 |
(11)% |
Dicalcium phosphate (DCP) |
t |
31,600 |
38,300 |
(17)% |
38,700 |
(18)% |
Niobium - Production of niobium was flat at 1,100 tonnes as recovery and process improvements offset lower ore grades.
Development of the Fresh Rock project to extend the life of the Boa Vista mine is ongoing, reaching 85% completion and is expected to achieve first production during the second half of 2014.
Phosphates - Concentrate production was flat at 347,900 tonnes. Fertiliser production decreased by 2%, owing to an unplanned maintenance stoppage and throughput constraints. Phosphoric acid production decreased by 31% to 53,800 tonnes and DCP production decreased by 17% to 31,600 tonnes, due to a bi-annual maintenance stoppage at Catalão.
PLATINUM
Platinum |
|
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Refined |
|
|
|
|
|
|
Platinum |
000 oz |
435 |
439 |
(1)% |
692 |
(37)% |
Palladium |
000 oz |
257 |
264 |
(3)% |
428 |
(40)% |
Rhodium |
000 oz |
61 |
57 |
7% |
84 |
(27)% |
Copper(1) - Refined |
t |
3,200 |
2,000 |
60% |
1,800 |
78% |
Copper(1) - Matte |
t |
1,200 |
- |
- |
1,400 |
(14)% |
Nickel(1) - Refined |
t |
4,900 |
3,300 |
48% |
5,200 |
(6)% |
Nickel(1) - Matte |
t |
1,400 |
- |
- |
100 |
1300% |
Gold |
000 oz |
25 |
23 |
9% |
27 |
(5)% |
Equivalent |
|
|
|
|
|
|
Platinum |
000 oz |
357 |
583 |
(39)% |
520 |
(31)% |
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflects matte sold to a third party in Q1 2014 from 2012 and 2013 production stockpile
Platinum - Equivalent refined platinum production decreased by 39% to 357,000 ounces, primarily due to the ongoing industrial action, which began on 23 January 2014, affecting the Rustenburg, Amandelbult and Union mines in South Africa. Total platinum ounces lost due to the industrial action in Q1 2014 was 185,000 ounces. In addition, the impact of placing Khomanani Mine, Khuseleka 2 shaft and Union North Mine declines on long term care and maintenance in August 2013, resulted in a decrease in production of 43,000 ounces.
The industrial action has not impacted production at the Mogalakwena and Unki mines or the majority of the joint operations and associates. Mogalakwena's production increased by 3% due to higher achieved 4E(15) built-up head grade and through the mining productivity improvement programmes introduced during 2013. The Unki mine had record production performance, increasing by 4%, due to improvement in volumes delivered to the concentrator and throughput at the mills.
Production from joint operations and associates increased by 5% to 183,000 ounces due to increased production at Kroondal and Bokoni mines, partially offset by a decrease in production following a week-long industrial action at Modikwa mine.
Processing operations have not been affected by the industrial action. Refined platinum production totalled 435,000 ounces, in line with production in Q1 2013. However, as mined production reduced, total refined production was supplemented by a drawdown of pipeline inventory. As a result, sales to both contractual and non-contractual (spot) customers have continued at normal levels, supplemented by refined platinum stock.
Palladium, Rhodium and Nickel - Refined production of palladium decreased by 3%, while refined production of rhodium increased by 7%. This variance was due to a different source of feed as certain mines' supply was impacted by the industrial action and the different processing times of the metals. Nickel production increased by 48% as production in Q1 2013 was impacted by technical challenges and good progress was made with the ramp up of production in the nickel tank house.
Production guidance for FY 2014 has been reduced to approximately 2.1 million ounces (previously 2.3 - 2.4 million ounces) of equivalent refined platinum, with further downside revisions possible as a result of the ongoing industrial action.
DIAMONDS
Diamonds |
Q1 2014 |
Q1 2013 |
Q1 2014 vs. Q1 2013 |
Q4 2013 |
Q1 2014 vs. Q4 2013 |
Diamonds |
000 carats |
7,531 |
6,364 |
18% |
9,132 |
(18)% |
|
|
|
|
|
|
|
Diamonds - Diamond production increased by 18% to 7.5 million carats due largely to production in Q1 2013 being impacted by planned plant maintenance at Orapa and the clean-up of the June 2012 sidewall failure in the Jwaneng pit.
Southern African operations were again hampered by heavy rainfall, resulting in lower production than in Q4 2013. However, improved preparedness in Q1 2014 meant the impact was lower than in Q1 2013.
Production guidance for FY 2014 remains unchanged at 30 - 32 million carats.
Please note that diamond production disclosure has increased and is now provided on a mine by mine basis in the Production Summary table.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q1 2014 totalled $82 million, a decrease of 21%.
Exploration expenditure in Q1 2014 was $35 million, a decrease of $13 million, spread across all commodities but particularly metallurgical coal and diamonds.
Evaluation expenditure for the quarter was $47 million, a decrease of 15%. Evaluation expenditure in Q1 2014 was primarily focused on the Copper business.
NOTE
This Interim Management Statement for the first quarter ended 31 March 2014 is unaudited.
Interim Financial Results for the six months to 30 June 2014 will be announced on 25 July 2014.
This report forms Anglo American plc's Interim Management Statement for the purpose of the UK Listing Authority's Disclosure and Transparency Rules.
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.
Iron Ore (tonnes) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Kumba Iron Ore |
|
|
|
|
|
|
|
Lump |
6,979,200 |
6,825,200 |
5,614,100 |
6,866,400 |
6,190,300 |
2% |
13% |
Fines |
4,348,600 |
4,460,500 |
3,860,500 |
4,411,400 |
4,144,700 |
(3)% |
5% |
Total Kumba production |
11,327,800 |
11,285,700 |
9,474,600 |
11,277,800 |
10,335,000 |
0% |
10% |
Sishen |
8,657,500 |
8,395,000 |
6,429,100 |
8,562,100 |
7,552,300 |
3% |
15% |
Kolomela |
2,512,900 |
2,739,500 |
2,806,100 |
2,583,600 |
2,679,500 |
(8)% |
(6)% |
Thabazimbi |
157,400 |
151,200 |
239,400 |
132,100 |
103,200 |
4% |
53% |
Total Kumba production |
11,327,800 |
11,285,700 |
9,474,600 |
11,277,800 |
10,335,000 |
0% |
10% |
Kumba sales volumes |
|
|
|
|
|
|
|
RSA export iron ore |
9,422,700 |
9,530,200 |
9,422,400 |
10,178,300 |
9,945,100 |
(1)% |
(5)% |
RSA domestic iron ore |
1,414,800 |
1,305,700 |
1,312,200 |
1,131,500 |
882,000 |
8% |
60% |
Samancor |
|
|
|
|
|
|
|
Manganese ore(1) |
692,200 |
846,000 |
788,100 |
864,200 |
803,400 |
(18)% |
(14)% |
Manganese alloys(1)(2) |
64,800 |
66,200 |
54,800 |
72,800 |
57,300 |
(2)% |
13% |
Samancor sales volumes |
|
|
|
|
|
|
|
Manganese ore |
833,900 |
837,900 |
766,100 |
793,800 |
864,300 |
0% |
(4)% |
Manganese alloys |
79,200 |
60,400 |
56,800 |
68,400 |
63,100 |
31% |
26% |
Coal segment (tonnes) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Australia & Canada Australia |
|
|
|
|
|
|
|
Metallurgical - Export Coking |
3,964,000 |
3,133,900 |
3,053,000 |
2,663,400 |
2,861,300 |
26% |
39% |
Metallurgical - Export PCI |
1,659,300 |
1,241,900 |
1,444,700 |
1,283,800 |
1,289,800 |
34% |
29% |
|
5,623,300 |
4,375,800 |
4,497,700 |
3,947,200 |
4,151,100 |
29% |
35% |
Thermal - Export |
769,300 |
1,584,700 |
1,672,400 |
1,513,100 |
1,493,800 |
(51)% |
(49)% |
Thermal - Domestic |
1,227,900 |
1,688,800 |
1,752,300 |
1,725,300 |
1,073,000 |
(27)% |
14% |
|
1,997,200 |
3,273,500 |
3,424,700 |
3,238,400 |
2,566,800 |
(39)% |
(22)% |
Canada |
|
|
|
|
|
|
|
Metallurgical - Export Coking |
409,200 |
339,300 |
412,500 |
448,500 |
463,500 |
21% |
(12)% |
Metallurgical - Export PCI |
20,800 |
18,300 |
1,700 |
- |
- |
14% |
- |
|
430,000 |
357,600 |
414,200 |
448,500 |
463,500 |
20% |
(7)% |
South Africa |
|
|
|
|
|
|
|
Thermal - Export |
4,149,100 |
4,602,000 |
4,504,900 |
4,015,200 |
3,909,200 |
(10)% |
6% |
Thermal - Domestic (Eskom) |
7,406,900 |
7,617,800 |
9,053,200 |
8,766,600 |
8,129,800 |
(3)% |
(9)% |
Thermal - Domestic (Other) |
1,359,500 |
1,234,100 |
1,665,300 |
1,573,800 |
1,518,800 |
10% |
(10)% |
|
12,915,500 |
13,453,900 |
15,223,400 |
14,355,600 |
13,557,800 |
(4)% |
(5)% |
Colombia |
|
|
|
|
|
|
|
Thermal - Export |
2,948,200 |
3,290,300 |
3,184,900 |
3,014,300 |
1,512,000 |
(10)% |
95% |
|
2,948,200 |
3,290,300 |
3,184,900 |
3,014,300 |
1,512,000 |
(10)% |
95% |
Total Metallurgical coal production |
6,053,300 |
4,733,400 |
4,911,900 |
4,395,700 |
4,614,600 |
28% |
31% |
Total Export Thermal coal production |
7,866,600 |
9,477,000 |
9,362,200 |
8,542,600 |
6,915,000 |
(17)% |
14% |
Total Domestic Thermal coal production |
9,994,300 |
10,540,700 |
12,470,800 |
12,065,700 |
10,721,600 |
(5)% |
(7)% |
Total Coal production |
23,914,200 |
24,751,100 |
26,744,900 |
25,004,000 |
22,251,200 |
(3)% |
7% |
Weighted average achieved FOB prices |
|
|
|
|
|
|
|
Australia and Canada |
|
|
|
|
|
|
|
Metallurgical - Export(3) US$/t |
124 |
133 |
129 |
153 |
148 |
(7)% |
(16)% |
Thermal - Export US$/t |
79 |
78 |
82 |
84 |
90 |
1% |
(12)% |
Thermal - Domestic US$/t |
40 |
40 |
39 |
40 |
37 |
0% |
8% |
South Africa |
|
|
|
|
|
|
|
Thermal - Export US$/t |
77 |
76 |
74 |
76 |
83 |
1% |
(7)% |
Thermal - Domestic US$/t |
18 |
21 |
18 |
19 |
20 |
(14)% |
(10)% |
Colombia |
|
|
|
|
|
|
|
Thermal - Export US$/t |
68 |
72 |
70 |
75 |
77 |
(6)% |
(12)% |
Sales volumes |
|
|
|
|
|
|
|
Australia and Canada |
|
|
|
|
|
|
|
Metallurgical - Export(4) |
5,386,200 |
5,182,200 |
4,859,000 |
4,667,100 |
4,336,200 |
4% |
24% |
Thermal - Export |
1,019,700 |
1,881,800 |
1,477,900 |
1,505,300 |
1,506,600 |
(46)% |
(32)% |
Thermal - Domestic |
1,331,400 |
1,632,000 |
1,684,300 |
1,700,000 |
1,109,100 |
(18)% |
20% |
South Africa |
|
|
|
|
|
|
|
Thermal - Export |
3,977,300 |
4,660,200 |
4,877,600 |
4,049,100 |
3,914,900 |
(15)% |
2% |
Thermal - Domestic |
9,078,500 |
8,805,800 |
10,429,100 |
10,243,400 |
9,565,800 |
3% |
(5)% |
Colombia |
|
|
|
|
|
|
|
Thermal - Export |
2,647,200 |
3,067,100 |
3,154,800 |
3,157,100 |
1,773,500 |
(14)% |
49% |
Coal by mine (tonnes) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Australia & Canada Australia |
|
|
|
|
|
|
|
Callide |
1,229,200 |
1,688,800 |
1,752,300 |
1,725,300 |
1,151,400 |
(27)% |
7% |
Capcoal (incl. Grasstree) |
1,904,700 |
1,578,800 |
1,606,000 |
1,461,100 |
1,415,500 |
21% |
35% |
Dawson |
1,022,800 |
1,162,700 |
993,300 |
1,077,100 |
752,600 |
(12)% |
36% |
Drayton |
659,100 |
976,400 |
1,055,900 |
785,000 |
893,400 |
(32)% |
(26)% |
Foxleigh |
432,900 |
421,900 |
541,000 |
475,700 |
528,000 |
3% |
(18)% |
Jellinbah |
677,500 |
755,900 |
673,400 |
610,000 |
477,200 |
(10)% |
42% |
Moranbah North |
1,694,300 |
1,064,800 |
1,300,500 |
1,051,400 |
1,499,800 |
59% |
13% |
|
7,620,500 |
7,649,300 |
7,922,400 |
7,185,600 |
6,717,900 |
0% |
13% |
Canada |
|
|
|
|
|
|
|
Peace River Coal |
430,000 |
357,600 |
414,200 |
448,500 |
463,500 |
20% |
(7)% |
|
430,000 |
357,600 |
414,200 |
448,500 |
463,500 |
20% |
(7)% |
South Africa |
|
|
|
|
|
|
|
Goedehoop |
1,138,400 |
1,228,300 |
1,194,600 |
1,143,200 |
1,114,700 |
(7)% |
2% |
Greenside |
803,500 |
923,700 |
862,800 |
792,500 |
690,500 |
(13)% |
16% |
Isibonelo |
1,248,900 |
1,139,700 |
1,421,700 |
1,259,500 |
1,245,900 |
10% |
0% |
Kleinkopje |
807,500 |
935,600 |
1,106,900 |
973,800 |
980,900 |
(14)% |
(18)% |
Kriel |
2,045,500 |
1,962,500 |
2,189,900 |
2,056,200 |
1,894,100 |
4% |
8% |
Landau |
902,700 |
1,079,800 |
1,065,800 |
939,100 |
999,300 |
(16)% |
(10)% |
Mafube |
321,800 |
416,200 |
475,400 |
437,000 |
496,800 |
(23)% |
(35)% |
New Denmark |
638,800 |
569,200 |
817,100 |
1,203,700 |
996,900 |
12% |
(36)% |
New Vaal |
3,895,000 |
3,905,200 |
4,797,300 |
4,321,200 |
4,082,000 |
0% |
(5)% |
Zibulo |
1,113,400 |
1,293,700 |
1,291,900 |
1,229,400 |
1,056,700 |
(14)% |
5% |
|
12,915,500 |
13,453,900 |
15,223,400 |
14,355,600 |
13,557,800 |
(4)% |
(5)% |
Colombia |
|
|
|
|
|
|
|
Carbones del Cerrejón |
2,948,200 |
3,290,300 |
3,184,900 |
3,014,300 |
1,512,000 |
(10%) |
95% |
|
2,948,200 |
3,290,300 |
3,184,900 |
3,014,300 |
1,512,000 |
(10)% |
95% |
Total Coal production |
23,914,200 |
24,751,100 |
26,744,900 |
25,004,000 |
22,251,200 |
(3)% |
7% |
Copper segment (tonnes) unless stated otherwise(5) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Collahuasi 100% basis (Anglo American share 44%) |
|
|
|
|
|
|
|
Ore mined |
17,560,100 |
23,120,000 |
19,421,500 |
19,526,000 |
18,888,000 |
(24)% |
(7)% |
Ore processed - Oxide |
1,700,500 |
1,481,600 |
1,594,100 |
2,024,300 |
1,928,800 |
15% |
(12)% |
Ore processed - Sulphide |
12,060,400 |
14,019,700 |
13,467,600 |
9,972,800 |
10,098,900 |
(14)% |
19% |
Ore grade processed - Oxide (% ASCu)(6) |
0.71 |
0.71 |
0.75 |
0.89 |
0.86 |
0% |
(17)% |
Ore grade processed - Sulphide (% TCu)(7) |
1.09 |
1.23 |
1.21 |
1.00 |
0.75 |
(11)% |
45% |
Production - Copper cathode |
5,300 |
5,500 |
6,900 |
8,400 |
7,700 |
(4)% |
(31)% |
Production - Copper in concentrate |
113,600 |
141,700 |
137,800 |
77,400 |
59,200 |
(20)% |
92% |
Total copper production for Collahuasi |
118,900 |
147,200 |
144,700 |
85,800 |
66,900 |
(19)% |
78% |
Anglo American's share of copper production for Collahuasi(8) |
52,300 |
64,800 |
63,700 |
37,800 |
29,400 |
(19)% |
78% |
Anglo American Sur |
|
|
|
|
|
|
|
Los Bronces mine(9) |
|
|
|
|
|
|
|
Ore mined |
12,311,300 |
14,502,400 |
13,243,600 |
14,991,700 |
14,200,500 |
(15)% |
(13)% |
Marginal ore mined |
5,280,400 |
5,261,100 |
3,903,800 |
4,551,100 |
3,505,300 |
0% |
51% |
Ore processed - Sulphide |
13,295,100 |
12,940,500 |
13,168,200 |
12,960,600 |
12,891,300 |
3% |
3% |
Ore grade processed - Sulphide (% TCu) |
0.88 |
0.87 |
0.83 |
0.81 |
0.80 |
1% |
10% |
Production - Copper cathode |
9,900 |
9,900 |
8,600 |
9,300 |
10,000 |
0% |
(1)% |
Production - Copper in sulphate |
- |
- |
- |
200 |
400 |
- |
- |
Production - Copper in concentrate |
105,700 |
100,000 |
97,900 |
92,200 |
88,000 |
6% |
20% |
Production total |
115,600 |
109,900 |
106,500 |
101,700 |
98,400 |
5% |
17% |
El Soldado mine(9) |
|
|
|
|
|
|
|
Ore mined |
1,893,500 |
2,001,200 |
1,910,600 |
2,439,800 |
2,225,100 |
(5)% |
(15)% |
Ore processed - Sulphide |
1,856,900 |
1,852,400 |
1,730,200 |
1,870,600 |
1,859,200 |
0% |
0% |
Ore grade processed - Sulphide (% TCu) |
0.67 |
0.90 |
0.65 |
0.91 |
1.03 |
(26)% |
(35)% |
Production - Copper cathode |
200 |
300 |
200 |
300 |
400 |
(33)% |
(50)% |
Production - Copper in concentrate |
9,700 |
12,300 |
9,200 |
13,600 |
15,200 |
(21)% |
(36)% |
Production total |
9,900 |
12,600 |
9,400 |
13,900 |
15,600 |
(21)% |
(37)% |
Chagres Smelter(9) |
|
|
|
|
|
|
|
Ore smelted |
36,700 |
39,900 |
38,100 |
35,800 |
36,000 |
(8)% |
2% |
Production |
35,500 |
38,700 |
36,800 |
34,900 |
34,800 |
(8)% |
2% |
Total copper production for Anglo American Sur |
125,500 |
122,500 |
115,900 |
115,600 |
114,000 |
2% |
10% |
Anglo American Norte |
|
|
|
|
|
|
|
Mantos Blancos mine |
|
|
|
|
|
|
|
Ore processed - Sulphide |
1,078,000 |
1,099,500 |
1,073,300 |
1,059,400 |
1,097,400 |
(2)% |
(2)% |
Ore grade processed - Sulphide (% ICu) (10) |
0.69 |
0.69 |
0.69 |
0.69 |
0.54 |
0% |
28% |
Production - Copper cathode |
5,000 |
6,700 |
7,500 |
8,000 |
7,300 |
(25)% |
(32)% |
Production - Copper in concentrate |
6,100 |
6,700 |
6,100 |
7,200 |
5,100 |
(9)% |
20% |
Production total |
11,100 |
13,400 |
13,600 |
15,200 |
12,400 |
(17)% |
(10)% |
Mantoverde mine |
|
|
|
|
|
|
|
Ore processed - Oxide |
2,530,500 |
2,473,500 |
2,708,500 |
2,544,800 |
2,658,500 |
2% |
(5)% |
Ore processed - Marginal ore |
2,105,200 |
1,729,100 |
2,179,000 |
2,235,800 |
2,136,400 |
22% |
(1)% |
Ore grade processed - Oxide (% ASCu ) |
0.50 |
0.52 |
0.55 |
0.58 |
0.61 |
(4)% |
(18)% |
Ore grade processed - Marginal ore (% ASCu ) |
0.24 |
0.23 |
0.24 |
0.26 |
0.26 |
4% |
(8)% |
Production - Copper cathode |
13,100 |
13,600 |
14,100 |
14,400 |
14,700 |
(4)% |
(11)% |
Total copper production for Anglo American Norte |
24,200 |
27,000 |
27,700 |
29,600 |
27,100 |
(10)% |
(11)% |
Total Copper segment copper production |
268,600 |
296,700 |
288,300 |
231,000 |
208,000 |
(9)% |
29% |
Total Attributable copper production(11) |
202,000 |
214,300 |
207,300 |
183,000 |
170,500 |
(6)% |
18% |
Attributable sales volumes |
207,600 |
214,500 |
216,700 |
176,700 |
160,300 |
(3)% |
30% |
Nickel segment (tonnes) unless stated otherwise(12) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Barro Alto |
|
|
|
|
|
|
|
Ore mined |
354,000 |
321,300 |
885,200 |
510,300 |
282,200 |
10% |
25% |
Ore processed |
464,000 |
487,800 |
444,400 |
412,700 |
271,400 |
(5)% |
71% |
Ore grade processed - %Ni |
1.78 |
1.82 |
1.87 |
1.74 |
1.84 |
(2)% |
(3)% |
Production |
6,900 |
7,800 |
7,100 |
6,100 |
4,100 |
(12)% |
68% |
Codemin |
|
|
|
|
|
|
|
Ore mined |
- |
- |
- |
6,800 |
- |
- |
- |
Ore processed |
147,200 |
151,700 |
157,000 |
157,900 |
135,800 |
(3)% |
8% |
Ore grade processed - %Ni |
1.67 |
1.72 |
1.70 |
1.68 |
1.72 |
(3)% |
(3)% |
Production |
2,300 |
2,400 |
2,400 |
2,400 |
2,100 |
(4)% |
10% |
Total Nickel segment nickel production |
9,200 |
10,200 |
9,500 |
8,500 |
6,200 |
(10)% |
48% |
Sales volumes |
10,000 |
11,200 |
9,200 |
6,300 |
7,100 |
(11)% |
41% |
Niobium and Phosphates segment (tonnes) unless otherwise stated |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Niobium |
|
|
|
|
|
|
|
Ore mined |
38,500 |
457,100 |
407,500 |
314,500 |
49,700 |
(92)% |
(23)% |
Ore processed |
229,700 |
224,400 |
239,900 |
249,700 |
249,100 |
2% |
(8)% |
Ore grade processed - %Nb |
0.92 |
1.16 |
1.19 |
1.11 |
1.22 |
(21)% |
(25)% |
Production |
1,100 |
1,200 |
1,100 |
1,100 |
1,100 |
(8)% |
0% |
Phosphates |
|
|
|
|
|
|
|
Concentrate |
347,900 |
353,400 |
355,000 |
349,900 |
348,000 |
(2)% |
0% |
Concentrate grade - %P2O5 |
36.8 |
36.7 |
37.1 |
37.4 |
37.4 |
0% |
(2)% |
Phosphoric acid |
53,800 |
78,000 |
79,500 |
82,100 |
77,500 |
(31)% |
(31)% |
Fertiliser(13) |
267,200 |
299,000 |
326,300 |
300,500 |
273,200 |
(11)% |
(2)% |
High analysis fertiliser |
30,100 |
44,400 |
61,300 |
53,000 |
50,600 |
(32)% |
(41)% |
Low analysis fertiliser |
237,100 |
254,600 |
265,000 |
247,500 |
222,600 |
(7)% |
7% |
Dicalcium phosphate (DCP) |
31,600 |
38,700 |
43,100 |
39,500 |
38,300 |
(18)% |
(17)% |
Platinum segment |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Refined production |
|
|
|
|
|
|
|
Platinum (troy oz) |
435,200 |
692,100 |
666,400 |
581,800 |
439,200 |
(37)% |
(1)% |
Palladium (troy oz) |
256,700 |
428,200 |
369,300 |
319,700 |
263,600 |
(40)% |
(3)% |
Rhodium (troy oz) |
60,600 |
83,500 |
84,900 |
69,800 |
56,500 |
(27)% |
7% |
Copper refined (tonnes)(14) |
3,200 |
1,800 |
2,600 |
1,900 |
2,000 |
78% |
60% |
Copper matte (tonnes)(14) |
1,200 |
1,400 |
300 |
4,100 |
- |
(14)% |
- |
Nickel refined (tonnes)(14) |
4,900 |
5,200 |
4,900 |
3,400 |
3,300 |
(6)% |
48% |
Nickel matte (tonnes)(14) |
1,400 |
100 |
300 |
5,400 |
- |
1300% |
- |
Gold (troy oz) |
25,400 |
26,700 |
33,700 |
16,300 |
23,300 |
(5)% |
9% |
Equivalent refined |
|
|
|
|
|
|
|
Platinum (troy oz) |
357,000 |
520,300 |
622,600 |
594,500 |
583,000 |
(31)% |
(39)% |
4E built-up head grade (g/tonne milled)(15) |
2.86 |
3.19 |
3.36 |
3.24 |
3.22 |
(10)% |
(11)% |
Diamonds segment (De Beers) |
Q1 2014 |
Q4 2013 |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q1 2014 vs. Q4 2013 |
Q1 2014 vs. Q1 2013 |
Carats recovered 100% basis |
|
|
|
|
|
|
|
Orapa |
3,204,000 |
3,516,000 |
2,644,000 |
3,132,000 |
2,083,000 |
(9)% |
54% |
Letlhakane |
131,000 |
164,000 |
132,000 |
257,000 |
129,000 |
(20)% |
2% |
Damtshaa |
56,000 |
102,000 |
55,000 |
58,000 |
49,000 |
(45)% |
14% |
Jwaneng |
2,367,000 |
2,575,000 |
2,615,000 |
2,922,000 |
2,274,000 |
(8)% |
4% |
Debswana |
5,758,000 |
6,357,000 |
5,446,000 |
6,369,000 |
4,535,000 |
(9)% |
27% |
Terrestrial |
137,000 |
148,000 |
161,000 |
137,000 |
156,000 |
(7)% |
(12)% |
Marine |
295,000 |
317,000 |
284,000 |
286,000 |
273,000 |
(7)% |
8% |
Namdeb Holdings |
432,000 |
465,000 |
445,000 |
423,000 |
429,000 |
(7)% |
1% |
Kimberley |
159,000 |
147,000 |
224,000 |
223,000 |
221,000 |
8% |
(28)% |
Venetia |
531,000 |
1,403,000 |
891,000 |
258,000 |
640,000 |
(62)% |
(17)% |
Voorspoed |
242,000 |
178,000 |
240,000 |
158,000 |
141,000 |
36% |
72% |
DBCM |
932,000 |
1,728,000 |
1,355,000 |
639,000 |
1,002,000 |
(46)% |
(7)% |
Snap Lake |
268,000 |
397,000 |
315,000 |
328,000 |
272,000 |
(32)% |
(1)% |
Victor |
141,000 |
185,000 |
171,000 |
172,000 |
126,000 |
(24)% |
12% |
De Beers Canada |
409,000 |
582,000 |
486,000 |
500,000 |
398,000 |
(30)% |
3% |
Total carats recovered |
7,531,000 |
9,132,000 |
7,732,000 |
7,931,000 |
6,364,000 |
(18)% |
18% |
(1) Saleable production
(2) Production includes medium carbon ferro-manganese
(3) Within export coking and export PCI coals there are different grades of coal with different weighted average prices compared to benchmark
(4) Includes both hard coking coal and PCI sales volumes
(5) Excludes Anglo American Platinum's copper production
(6) ASCu = acid soluble copper
(7) TCu = total copper
(8) Anglo American's share of Collahuasi production is 44%
(9) Anglo American ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur
(10) ICu = insoluble copper (total copper less acid soluble copper)
(11) Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi
(12) Excludes Anglo American Platinum's nickel production
(13) 2013 fertiliser includes updated production quantification methodology in the acidulation plant at Cubatão
(14) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflect matte sold to a third party in Q1 2014 from 2012 and 2013 production stockpiles
(15) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.
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 |
Tel: +44 (0)20 7968 8759 |
Tel: +44 (0)20 7968 8718 |
|
|
Emily Blyth |
Caroline Crampton |
Tel: +44 (0)20 7968 8481 |
Tel: +44 (0)20 7968 2192 |
|
|
South Africa |
Sarah McNally |
Pranill Ramchander |
Tel: +44 (0)20 7968 8747 |
Tel: +27 (0)11 638 2592 |
|
Notes to editors:
Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals - copper, nickel, niobium and phosphates; and precious metals and minerals - in which we are a global leader in both platinum and diamonds. At Anglo American, we are committed to working together with our stakeholders - our investors, our partners and our employees - to create sustainable value that makes a real difference, while upholding the highest standards of safety and responsibility across all our businesses and geographies. The company's mining operations, pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com
