TIDMAAL
RNS Number : 6568A
Anglo American PLC
23 January 2020
http://www.rns-pdf.londonstockexchange.com/rns/6568A_1-2020-1-22.pdf
Anglo American plc
Production Report for the fourth quarter ended 31 December
2019
Mark Cutifani, Chief Executive of Anglo American, said: "We have
delivered our full year production targets across the business.
Production is up 4%(1) for the quarter led by the continued
successful ramp-up at Minas-Rio in Brazil. Increased production at
Metallurgical Coal in Australia was offset by the drought in Chile
impacting water availability at Los Bronces, as well as the
anticipated lower production from De Beers as Venetia transitions
to underground in South Africa and Victor reached the end of its
mine life in Canada. As planned, we received the operating licence
for the tailings dam raise at Minas-Rio before the end of
2019."
Key highlights
-- A 10%(2) increase in platinum and palladium volumes due to higher grades and throughput.
-- Strong performance from Collahuasi as well as productivity
improvements at Los Bronces have partially mitigated the impact of
production losses at Los Bronces due to the continued drought.
-- Continued strong performance from our Bulks business,
reflecting the stability of operations under the Operating Model
and progress in driving P101 levels of equipment performance to
industry best practice and beyond.
-- Minas-Rio continued its strong operational performance, with
6.2 million tonnes of high grade iron ore production in Q4. The
tailings dam raise operating licence was received in December
2019.
-- Kumba iron ore production of 11.8 million tonnes reflected
improved run-rates following maintenance earlier in the year.
-- Metallurgical coal production increased by 11% to 6.3 million
tonnes due to the timing of longwall moves, as well as improved
wash plant throughput and equipment efficiency.
Q4 2019 Q4 2018 % vs. 2019 2018 % vs.
Q4 2018 2018
Diamonds (Mct)(3) 7.8 9.1 (15)% 30.8 35.3 (13)%
------
Copper (kt)(4) 159 184 (13)% 638 668 (5)%
-------- -------- ------ ------
Platinum (koz)(2)(5) 532 485 10% 2,051 2,021 1%
-------- --------- ------ ------
Palladium (koz)(2)(5) 360 329 10% 1,386 1,379 1%
-------- --------- ------ ------
Iron ore - Kumba
(Mt) 11.8 10.2 16% 42.4 43.1 (2)%
-------- --------- ------ ------
Iron ore - Minas-Rio
(Mt)(6) 6.2 0.2 n/a 23.1 3.4 n/a
-------- --------- ------ ------
Metallurgical coal
(Mt) 6.3 5.6 11% 22.9 21.8 5%
-------- -------- ------ ------
Thermal coal (Mt)(7) 6.8 6.9 (1)% 26.4 28.6 (8)%
-------- --------- ------ ------
Nickel (kt)(8) 11.7 11.4 3% 42.6 42.3 1%
-------- --------- ------ ------
Manganese ore (kt) 903 972 (7)% 3,513 3,607 (3)%
-------- --------- ------ ------
(1) Copper equivalent production is normalised to reflect
closure of Voorspoed and Victor (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 1% 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).
DE BEERS
De Beers(1) (000 Q4 2019 Q4 2019 2019
carats) vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
----- ----- ----- ------
Botswana 5,888 6,346 (7)% 5,699 3% 23,254 24,132 (4)%
Namibia 456 505 (10)% 426 7% 1,700 2,008 (15)%
South Africa 434 1,234 (65)% 535 (19)% 1,922 4,682 (59)%
Canada 1,009 1,043 (3)% 779 30% 3,900 4,475 (13)%
Total carats recovered 7,787 9,128 (15)% 7,439 5% 30,776 35,297 (13)%
------------------------ ----- ----- ----- ----- ----- ------ ------ ------
Rough diamond production decreased by 15% to 7.8 million carats,
driven by lower production levels in South Africa and Botswana.
While trading conditions have improved since Q3 2019, production
was reduced in response to softer rough diamond demand conditions
experienced in the year.
Botswana production decreased by 7% to 5.9 million carats. Orapa
production decreased by 29%, caused by a delay in an infrastructure
project and expected lower grades. This was partially offset by a
21% increase at Jwaneng driven by planned increases in both tonnes
treated and grade.
Namibian production decreased by 10% to 0.5 million carats,
driven by Debmarine Namibia where production decreased by 9% to 0.4
million carats due to routine vessel maintenance in Q4 2019.
In South Africa, production decreased by 65% to 0.4 million
carats due to lower volumes of ore mined at Venetia as it
approaches the transition from open pit to underground. In
addition, Voorspoed production ended in Q4 2018 when it was placed
onto care and maintenance in preparation for closure.
Production in Canada decreased by 3% to 1.0 million carats,
primarily due to the closure of Victor, which reached the end of
its life in Q2 2019. Gahcho Kué production increased by 28% to 1.0
million carats due to strong plant performance.
Rough diamond sales totalled 7.0 million carats (6.6 million
carats on a consolidated basis)(2) from two sales cycles, which
compares with 9.9 million carats of sales (9.3 million carats on a
consolidated basis)(2) from three sales cycles in Q4 2018.
For the full year, rough diamond sales volumes were 8% lower at
30.9 million carats (29.2 million carats on a consolidated
basis)(2) compared with 33.7 million carats (31.7 million carats on
a consolidated basis)(2) in 2018. In 2019, overall demand for rough
diamonds was lower as a result of challenges in the midstream, with
higher polished inventories and caution due to macro-economic
uncertainty.
The full year consolidated average realised price of $137/ct was
lower (2018: $171/ct), due primarily to a higher proportion of
lower value rough diamonds sold in 2019 and a 6% lower rough
diamond price index.
2020 Production Guidance
Production guidance for 2020(1) is unchanged at 32-34 million
carats, subject to trading conditions. The higher production
anticipates an improvement in trading conditions compared with
2019, and is driven by an expected increase in production from
Venetia.
(1) De Beers Group production is on a 100% basis, except for the
Gahcho Kué joint venture which is on an attributable 51% basis.
(2) Consolidated sales volumes exclude De Beers Group's JV
partners' 50% proportionate share of sales to entities outside De
Beers Group from Diamond Trading Company Botswana and the Namibia
Diamond Trading Company, which are included in total sales volume
(100% basis).
De Beers(1) Q4 2019 Q4 2019 2019
vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
---------- ----------
2019 2019 2019 2019 2018 2019 2018
----- ----- ----- ----- ----- --- ----- --- ------
Carats recovered
(000 carats)
100% basis (unless
stated)
Jwaneng 3,319 2,584 3,223 3,336 2,744 28% 21% 12,462 11,896 5%
Orapa(2) 2,569 3,115 2,495 2,614 3,602 (18)% (29)% 10,792 12,236 (12)%
Botswana 5,888 5,699 5,718 5,950 6,346 3% (7)% 23,254 24,132 (4)%
Debmarine Namibia 363 320 245 364 400 13% (9)% 1,292 1,436 (10)%
Namdeb (land
operations) 93 106 90 119 105 (12)% (11)% 408 572 (29)%
Namibia 456 426 335 483 505 7% (10)% 1,700 2,008 (15)%
Venetia 434 535 571 382 1,141 (19)% (62)% 1,922 4,249 (55)%
Voorspoed - - - - 93 n/a n/a - 433 n/a
South Africa 434 535 571 382 1,234 (19)% (65)% 1,922 4,682 (59)%
Gahcho Kué
(51% basis) 1,009 779 883 808 789 30% 28% 3,479 3,539 (2)%
Victor - - 192 229 254 n/a n/a 421 936 (55)%
Canada 1,009 779 1,075 1,037 1,043 30% (3)% 3,900 4,475 (13)%
Total carats
recovered 7,787 7,439 7,699 7,852 9,128 5% (15)% 30,776 35,297 (13)%
----- ----- ----- ----- ----- ----- ----- ------ ------ ----
Sales volumes
Total sales volume
(100)% (Mct)(3) 7.0 7.4 9.0 7.5 9.9 (5)% (29)% 30.9 33.7 (8)%
Consolidated
sales volume
(Mct)(3) 6.6 7.1 8.3 7.2 9.3 (7)% (29)% 29.2 31.7 (8)%
Number of Sights
(sales cycles) 2 3 3 2 3 10 10
-------------------- ----- ----- ----- ----- ----- ---------- ---------- ------ ------ --------
(1) De Beers Group production is on a 100% basis, except for the
Gahcho Kué 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 Diamond Trading Company Botswana and the Namibia
Diamond Trading Company, which are included in total sales volume
(100% basis).
COPPER
Copper(1) (tonnes) Q4 2019 Q4 2019 2019
vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
------- ----- ----- -------
Los Bronces 71,700 99,000 (28)% 80,400 (11)% 335,000 369,500 (9)%
Collahuasi (44%
share) 72,200 69,200 4% 64,500 12% 248,800 246,000 1%
El Soldado 14,900 15,300 (3)% 14,000 6% 54,200 52,700 3%
Total Copper 158,800 183,500 (13)% 158,900 0% 638,000 668,300 (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 decreased by 13% to 158,800 tonnes, largely
impacted by a reduction at Los Bronces, driven by the continued
drought conditions in central Chile, partially offset by continued
strong plant performance at Collahuasi.
Production from Los Bronces decreased by 28%, to 71,700 tonnes
with a 44% reduction in plant throughput (7 million tonnes vs 13
million tonnes) resulting from lower water availability. This was
partly offset by strong mine performance, in particular a step-up
in shovel productivity as a result of P101 improvements, and
planned higher grades (0.99% vs. 0.81%). Chile's central zone
continues to face unprecedented climate conditions, with 2019 being
one of the driest years on record and the driest since the start of
the current decade-long drought.
At Collahuasi, attributable production increased by 4% to 72,200
tonnes, another record in copper concentrate production, with
planned lower grades (1.25% vs 1.28%) more than offset by a strong
plant performance that benefited from the ongoing long-term plant
improvement plan.
2019 sales volumes were 643,900 tonnes, at an average realised
price of 273c/lb ($6,019/t), in line with the average LME
price.
2020 Production Guidance
Production guidance for 2020 is unchanged at 620,000-670,000
tonnes, subject to water availability.
Copper(1) Q4 2019 Q4 2019 2019
vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
-------- --------
2019 2019 2019 2019 2018 2019 2018
---------- ---------- ---------- ---------- --- --- --- --- ----------
Los Bronces
mine(2)
Ore mined 17,373,800 15,560,400 17,302,500 15,678,600 12,675,800 12% 37% 65,915,300 59,207,400 11%
Ore processed
- Sulphide 7,146,800 10,977,200 11,813,600 12,070,800 12,669,900 (35)% (44)% 42,008,400 50,583,000 (17)%
Ore grade
processed
-
Sulphide (%
TCu)(3) 0.99 0.78 0.81 0.80 0.81 27% 22% 0.83 0.76 9%
Production -
Copper
cathode 10,000 10,100 9,300 9,600 10,200 (1)% (2)% 39,000 39,000 0%
Production -
Copper
in concentrate 61,700 70,300 81,900 82,100 88,800 (12)% (31)% 296,000 330,500 (10)%
Total production 71,700 80,400 91,200 91,700 99,000 (11)% (28)% 335,000 369,500 (9)%
---------- ---------- ---------- ---------- ---------- --- --- ---------- ----------
Collahuasi 100%
basis
(Anglo American
share 44%)
Ore mined 22,132,200 25,780,000 23,698,300 15,642,800 14,781,300 (14)% 50% 87,253,200 51,886,400 68%
Ore processed
- Sulphide 14,728,700 14,478,700 11,626,100 13,299,600 13,638,400 2% 8% 54,133,100 49,470,500 9%
Ore grade
processed
-
Sulphide (%
TCu)(3) 1.25 1.14 1.21 1.16 1.28 9% (2)% 1.19 1.29 (8)%
Production -
copper
in concentrate 164,200 146,600 124,400 130,200 157,400 12% 4% 565,400 559,100 1%
Anglo American's
share of copper
production for
Collahuasi(4) 72,200 64,500 54,700 57,300 69,200 12% 4% 248,800 246,000 1%
----------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
El Soldado
mine(2)
Ore mined 2,721,400 3,299,900 3,017,800 3,089,000 3,233,900 (18)% (16)% 12,128,100 11,613,200 4%
Ore processed
- Sulphide 1,854,900 1,911,700 1,861,900 1,809,900 1,951,600 (3)% (5)% 7,438,500 7,598,200 (2)%
Ore grade
processed
-
Sulphide (%
TCu)(3) 1.02 0.92 0.92 0.84 0.94 11% 8% 0.93 0.85 9%
Production -
copper
in concentrate 14,900 14,000 13,200 12,100 15,300 6% (3)% 54,200 52,700 3%
---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Chagres
Smelter(2)
Ore smelted 30,800 28,800 32,100 30,300 30,900 7% 0% 122,000 142,600 (14)%
Production 29,900 28,000 31,200 29,500 30,100 7% (1)% 118,600 139,200 (15)%
----------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Total copper
production(5) 158,800 158,900 159,100 161,100 183,500 0% (13)% 638,000 668,300 (5)%
Total payable
copper
production 153,100 153,000 153,100 155,000 177,100 0% (14)% 614,300 644,500 (5)%
Total sales
volumes 176,500 160,000 165,400 141,900 205,800 10% (14)% 643,900 671,600 (4)%
Total payable
sales volumes 170,100 153,800 159,100 136,500 198,400 11% (14)% 619,500 647,700 (4)%
Third party
sales(6) 115,300 91,600 88,800 53,400 50,400 26% 129% 349,000 173,700 101%
----------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
(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) Anglo American's share of Collahuasi production is 44%.
(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)
Platinum (000 oz)(1) Q4 2019 Q4 2019 2019
vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
----- ----- ---- --- -------
Metal in concentrate
production(2) 531.7 485.4 10% 526.8 1% 2,050.6 2,020.5 1%
Own mined(3) 361.9 307.5 18% 351.7 3% 1,378.2 1,323.6 4%
Purchase of concentrate
(POC)(2)(4) 169.8 177.9 (5)% 175.1 (3)% 672.4 696.9 (4)%
POC now under tolling
arrangement(5) - 116.9 n/a - n/a - 464.2 n/a
----------------------------- ----- ----- --------- ----- --------- ------- ------- -----------
Palladium (000 oz)(1)
----------------------------- ---------
Metal in concentrate
production(2) 360.4 328.5 10% 351.8 2% 1,385.9 1,379.0 1%
Own mined(3) 275.0 234.8 17% 262.7 5% 1,049.2 1,013.5 4%
Purchase of concentrate
(POC)(2)(4) 85.4 93.7 (9)% 89.0 (4)% 336.7 365.5 (8)%
POC now under tolling
arrangement(5) - 58.1 n/a - n/a - 231.8 n/a
----------------------------- ----- ----- --------- ----- --------- ------- ------- -----------
Refined production(6)
---------
Platinum 000 oz(1)(7) 629.7 770.9 (18)% 578.6 9% 2,210.9 2,402.4 (8)%
Palladium 000 oz(1)(7) 396.6 493.8 (20)% 362.1 10% 1,480.5 1,501.8 (1)%
Rhodium 000 oz(1)(7) 90.8 91.3 (1)% 66.5 37% 293.4 292.8 0%
Tolled material
Platinum 000 oz(1) 104.4 - n/a 100.9 3% 303.2 - n/a
Palladium 000 oz(1) 54.0 - n/a 51.3 5% 154.4 - n/a
------------- -------------- ----- ----- --------- ----- ---- ------- ------- -----------
(1) Ounces refer to troy ounces.
(2) Excluding purchase of concentrate volumes now treated under tolling arrangement.
(3) Includes managed operations and 50% of joint venture production.
(4) Includes 50% of joint venture production, and the purchase
of concentrate from associates (BRPM prior to its disposal) and
third parties.
(5) Comparative periods include purchase of concentrate volumes now under tolling arrangement.
(6) Refined production of gold, nickel and copper has been
removed from this table but is still shown in the detailed table on
the next page.
(7) Refined production excludes toll material but includes in
comparative periods material now transitioned to tolling.
Metal in concentrate production
Platinum and palladium production both increased by 10%, to
531,700 ounces and 360,400 ounces, respectively.
Own mined platinum production increased by 18% to 361,900 ounces
and palladium production increased by 17% to 275,000 ounces. This
was driven by increased production at Mogalakwena due to higher
grade and throughput, and from Amandelbult, due to the ramp-up of
the Dishaba lower section, as well as the inclusion of 100% of
Mototolo volumes following the acquisition of the remaining 50% of
the asset in November 2018. This was partially offset by the impact
of Eskom power outages, which reduced overall own mined volumes by
8,500 platinum ounces and 6,000 palladium ounces.
Purchase of platinum in concentrate decreased by 5% to 169,800
ounces and purchase of palladium in concentrate decreased by 9% to
85,400 ounces, the result of lower purchases from joint ventures,
as Mototolo became 100% owned in November 2018, as well as lower
production from Bafokeng-Rasimone Platinum Mine.
Refined production and sales volumes
Refined platinum production(1) decreased by 18% to 629,700
ounces and refined palladium production(1) decreased by 20% to
396,600 ounces. Excluding the impact of the tolled volumes that
were previously purchased as concentrate, refined platinum
production was flat and palladium decreased by 6% as improved
operational performance at the processing facilities was offset by
the impact of Eskom power outages. These power outages in Q4
resulted in an inventory build-up of circa 45,000 platinum ounces
and circa 27,000 palladium ounces.
Platinum sales volumes(1) decreased by 14% to 668,300 ounces and
palladium sales volumes(1) decreased by 4% to 435,800 ounces due to
lower refined production in the period.
The full year price per platinum ounce for the basket of metals
sold increased by 27% to $2,819/ounce compared to 2018 due to 48%
and 73% price increases in palladium and rhodium, respectively.
2020 Production Guidance
Production guidance (metal in concentrate) is unchanged at
2.0-2.2 million ounces of platinum and approximately 1.4 million
ounces of palladium, subject to Eskom power performance.
(1) Does not include tolled volumes.
Platinum Q4 2019 Q4 2019 2019
vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
---------- ----------
2019 2019 2019 2019 2018 2019 2018
----- ----- ----- ----- ----- --- ----- --- -------
Produced platinum
(000 oz)(1) 531.7 526.8 520.3 471.9 485.4 1% 10% 2,050.6 2,020.5 1%
Own mined 361.9 351.7 342.8 321.9 307.5 3% 18% 1,378.2 1,323.6 4%
Mogalakwena 135.8 123.4 127.9 130.4 108.4 10% 25% 517.5 495.1 5%
Amandelbult 120.1 118.4 116.6 98.5 96.5 1% 24% 453.6 442.7 2%
Unki 23.3 23.7 23.1 19.3 22.0 (2)% 6% 89.4 85.9 4%
Mototolo(2) 30.9 31.4 23.0 26.8 17.5 (2)% 77% 112.0 17.5 540%
Joint ventures(2) 51.8 54.8 52.2 46.9 63.1 (5)% (18)% 205.7 270.8 (24)%
Union - - - - - n/a n/a - 11.6 n/a
Purchase of
concentrate(3) 169.8 175.1 177.5 150.0 177.9 (3)% (5)% 672.4 696.9 (4)%
Joint ventures(2) 51.8 54.8 52.2 46.9 63.1 (5)% (18)% 205.7 270.8 (24)%
Associates(4) - - - - 46.9 n/a n/a - 220.2 n/a
Third parties(3) 118.0 120.3 125.3 103.1 67.9 (2)% 74% 466.7 205.9 127%
POC now under
tolling
arrangements(5) - - - - 116.9 n/a n/a - 464.2 n/a
-----
Palladium
----- ----- ----- ----- ----- ---------- ---------- ------- -------
Produced
palladium
(000 oz)(1) 360.4 351.8 347.2 326.6 328.5 2% 10% 1,385.9 1,379.0 1%
Own mined 275.0 262.7 260.5 250.9 234.8 5% 17% 1,049.2 1,013.5 4%
Mogalakwena 146.0 130.8 139.5 141.5 118.2 12% 24% 557.9 540.9 3%
Amandelbult 56.0 54.3 53.7 44.9 44.9 3% 25% 208.9 205.1 2%
Unki 20.0 21.3 20.9 17.0 19.6 (6)% 2% 79.2 75.5 5%
Mototolo(2) 19.0 19.4 14.0 16.3 10.9 (2)% 74% 68.7 10.9 530%
Joint ventures(2) 34.0 36.9 32.4 31.2 41.2 (8)% (17)% 134.5 176.0 (24)%
Union - - - - - n/a n/a - 5.2 n/a
Purchase of
concentrate(3) 85.4 89.0 86.7 75.7 93.7 (4)% (9)% 336.7 365.5 (8)%
Joint ventures(2) 34.0 36.9 32.4 31.2 41.2 (8)% (17)% 134.5 175.9 (24)%
Associates(4) - - - - 19.3 n/a n/a - 90.2 n/a
Third parties(3) 51.4 52.1 54.3 44.5 33.2 (1)% 55% 202.2 99.4 103%
POC now under
tolling
arrangements(5) - - - - 58.1 n/a n/a - 231.8 n/a
Refined
production
----- ----- ----- ----- ----- ---------- ---------- ------- -------
Platinum (000
oz)(1)(6) 629.7 578.6 590.9 411.7 770.9 9% (18)% 2,210.9 2,402.4 (8)%
Palladium (000
oz)(1)(6) 396.6 362.1 428.2 293.6 493.8 10% (20)% 1,480.5 1,501.8 (1)%
Rhodium (000
oz)(1)(6) 90.8 66.5 84.1 52.0 91.3 37% (1)% 293.4 292.8 0%
Gold (000
oz)(1)(6) 32.4 27.9 21.3 24.0 27.9 16% 16% 105.6 105.5 0%
Nickel
(tonnes)(6) 6,400 6,800 5,600 4,200 6,700 (6)% (4)% 23,000 23,100 0%
Copper
(tonnes)(6) 4,100 3,400 3,500 3,200 4,200 21% (2)% 14,200 14,300 (1)%
Tolled material
Platinum (000
oz)(1) 104.4 100.9 97.9 - - 3% n/a 303.2 - n/a
Palladium (000
oz)(1) 54.0 51.3 49.1 - - 5% n/a 154.4 - n/a
Platinum sales
volumes
(000 oz)(1)(7) 668.3 537.4 595.2 414.2 776.9 24% (14)% 2,215.1 2,424.2 (9)%
Palladium sales
volumes
(000 oz)(1)(7) 435.8 316.9 475.9 292.1 455.3 38% (4)% 1,520.7 1,513.1 1%
Platinum 3(rd)
party sales
volumes
(000 oz)(1)(8) 10.6 17.5 13.0 5.0 1.5 (39)% 607% 46.1 94.0 (51)%
Palladium 3(rd)
party sales
volumes
(000 oz)(1)(8) 42.8 79.7 81.0 58.7 16.5 (46)% 159% 262.2 124.5 111%
4E head grade
(g/t milled)(9) 3.67 3.65 3.55 3.58 3.38 1% 9% 3.61 3.48 4%
------------------ ----- ----- ----- ----- ----- ----- ----- ------- ------- ---
(1) Ounces refer to troy ounces.
(2) The joint venture 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'.
Mototolo is 100% owned from 1 November 2018.
(3) Excluding purchase of concentrate volumes now treated under tolling arrangement.
(4) 33% interest in BRPM until its sale effective 11 December 2018.
(5) Comparative periods include purchase of concentrate volumes now under tolling arrangement.
(6) Refined production excludes tolled material.
(7) Sales from own mined and purchased concentrate, excludes
refined metal purchased from third parties.
(8) Relates to sales of metal not produced by Anglo American operations.
(9) 4E: the grade measured as the combined content of: platinum,
palladium, rhodium and gold, excludes tolled material.
IRON ORE
Iron Ore (000 Q4 2019 Q4 2019 2019
t) vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
------ ---- --- ---- --- ------
Kumba 11,806 10,170 16% 10,521 12% 42,388 43,106 (2)%
Minas-Rio(1) 6,164 227 n/a 6,126 1% 23,115 3,382 n/a
--------------- ------ ------ --------- ------ ---- ------ ------ ------------
(1) Wet basis.
Kumba - Total production volumes increased by 16% to 11.8
million tonnes, due to higher production at both Sishen and
Kolomela.
Sishen's production increased by 19% to 8.3 million tonnes as a
result of improved operational performance in Q4 2019.
Kolomela's production increased by 10% to 3.5 million tonnes,
reflecting the ramp-up in production following the temporary
closure of the DMS plant for an infrastructure upgrade in Q1 2019
and its subsequent re-opening, on schedule, in Q4 2019.
Total sales decreased by 10% to 10.5 million tonnes, driven by a
73% decline in domestic sales to 0.2 million tonnes due to lower
domestic customer off-take with the winding down of the Saldanha
Steel plant. Export sales were 5% lower at 10.2 million tonnes.
Total finished stock increased to 6.6 million tonnes(1) at Q4
2019 from 5.1 million tonnes at Q3 2019, as a result of lower
domestic sales. Rail performance improved significantly in 2019,
with port stock levels well set for Q1 2020.
In the fourth quarter, the average lump to fines ratio in the
Kumba product was 66:34 (full year: 67:33), while the Fe content
averaged 64.1% (full year: 64.2%).
The full year FOB realised price was $97/tonne, reflecting the
reversal, driven by price movements, of gains from provisionally
priced sales that supported the first half realised price of
$108/tonne.
Minas-Rio - Production of 6.2 million tonnes was driven by
continued strong operational performance, stability due to higher
grade ore from the Step 3 mine area and productivity
initiatives.
The construction of the tailings dam raise was completed in
August 2019 and approval for the conversion of the installation
licence to an operating licence was announced on 23 December.
The full year FOB realised price was $79/tonne, reflecting the
reversal, driven by price movements, of gains from provisionally
priced sales that supported the first half realised price of
$92/tonne.
2020 Production Guidance
Kumba production guidance for 2020 is unchanged at 42-43 million
tonnes.
Minas-Rio production guidance for 2020 is unchanged at 22-24 Mt,
which includes a one-month production stoppage in Q2 to carry out
routine internal scanning of the pipeline.
(1) Sales volumes and stock differ to Kumba's standalone Q4
results due to sales to other Group companies.
Iron Ore Q4 2019 Q4 2019 2019
(tonnes) vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
-------- --------
2019 2019 2019 2019 2018 2019 2018
---------- ---------- ---------- ---------- --- --- --- --- ----------
Kumba
production 11,806,100 10,521,300 10,544,000 9,516,300 10,170,200 12% 16% 42,387,700 43,105,700 (2)%
Lump 7,898,500 6,955,500 7,111,400 6,544,600 6,878,600 14% 15% 28,510,100 29,171,500 (2)%
Fines 3,907,600 3,565,800 3,432,600 2,971,700 3,291,600 10% 19% 13,877,600 13,934,200 0%
------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Kumba
production
by mine
Sishen 8,263,900 7,153,500 7,310,400 6,446,600 6,960,500 16% 19% 29,174,400 29,246,000 0%
Kolomela 3,542,200 3,367,800 3,233,600 3,069,700 3,209,700 5% 10% 13,213,300 13,859,700 (5)%
---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Kumba sales
volumes 10,469,400 10,153,800 10,471,900 10,878,600 11,591,400 3% (10)% 41,973,700 43,256,800 (3)%
Export iron
ore (1) 10,237,100 9,670,200 9,755,600 10,130,600 10,723,200 6% (5)% 39,793,500 39,965,700 0%
Domestic
iron
ore 232,300 483,600 716,300 748,000 868,200 (52)% (73)% 2,180,200 3,291,100 (34)%
------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Minas-Rio
production
Pellet feed
(wet basis) 6,163,600 6,126,100 5,915,500 4,909,700 226,700 1% n/a 23,114,900 3,382,000 n/a
---------- ---------- ---------- ---------- ---------- --- -------- ---------- ---------- -------
Minas-Rio
sales
volumes
Export -
pellet
feed (wet
basis) 6,570,700 5,734,500 6,590,400 4,031,400 - 15% n/a 22,927,000 3,216,800 n/a
------------- ---------- ---------- ---------- ---------- ---------- --- -------- ---------- ---------- -------
(1) Sales volumes and stock differ to Kumba's standalone Q4
results due to sales to other Group companies.
COAL
Coal(1) (000 t) Q4 2019 Q4 2019 2019
vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
----- ----- ----- ------
Metallurgical Coal
(Australia) 6,284 5,647 11% 6,569 (4)% 22,852 21,830 5%
Export Thermal Coal
(Australia) 389 428 (9)% 438 (11)% 1,411 1,381 2%
Export Thermal Coal
(South Africa)(2) 4,515 4,537 0% 4,288 5% 17,796 18,359 (3)%
Export Thermal Coal
(Colombia)(3) 2,315 2,357 (2)% 2,055 13% 8,586 10,220 (16)%
Domestic Thermal Coal
(South Africa) 2,511 3,293 (24)% 2,621 (4)% 10,046 13,692 (27)%
----------------------- ----- ----- ----- ----- ----- ------ ------ ------
(1) Anglo American's attributable share of production.
(2) Includes export primary production, secondary production
sold into export markets, production sold domestically at export
parity pricing, and pre-commercial production volumes from
Navigation section of Khwezela.
(3) Anglo American's attributable share of Cerrejón production is 33.3%.
Metallurgical Coal - Export metallurgical coal production
increased by 11% to 6.3 million tonnes primarily due to the timing
of longwall moves at Grosvenor and Grasstree, as well as
improvements in wash plant throughput at Moranbah-Grosvenor and
equipment productivity at Dawson.
In the fourth quarter, the ratio of hard coking coal production
to PCI/semi-soft coking coal was 81:19 (full year 2019: 83:17).
Thermal Coal South Africa - Export thermal coal production was
flat at 4.5 million tonnes.
Thermal Coal Colombia - Attributable export thermal coal
production decreased 2% to 2.3 million tonnes in response to weak
market conditions.
The full year weighted average realised price for export thermal
coal from South Africa and Colombia was $59/tonne. This was 10%
lower than the weighted average quoted FOB price from South Africa
and Colombia, due to lower than benchmark energy content coal from
South Africa.
2020 Production Guidance
Metallurgical coal production guidance for 2020 is unchanged at
21-23 million tonnes. This reflects the sale of a 12% interest in
the Grosvenor mine that is expected to complete during the year,
equalising the ownership across the Moranbah-Grosvenor integrated
operations.
Thermal coal production guidance for 2020 is unchanged at circa
26 million tonnes.
Coal, by Q4 2019 Q4 2019 2019
product vs. vs. vs.
(tonnes)(1) Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
-------- --------
2019 2019 2019 2019 2018 2019 2018
---------- ---------- ---------- ---------- --- --- --- --- ----------
Metallurgical
Coal
(Australia) 6,283,600 6,568,900 5,843,500 4,156,200 5,647,100 (4)% 11% 22,852,200 21,830,400 5%
Hard Coking
Coal 5,117,500 5,615,900 4,958,600 3,265,100 4,864,600 (9)% 5% 18,957,100 18,798,400 1%
PCI / SSCC 1,166,100 953,000 884,900 891,100 782,500 22% 49% 3,895,100 3,032,000 28%
--------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Thermal Coal 9,730,000 9,402,700 9,460,700 9,245,000 10,613,700 3% (8)% 37,838,300 43,652,100 (13)%
Export
(Australia) 389,200 437,900 245,200 338,500 427,600 (11)% (9)% 1,410,700 1,381,300 2%
Export (South
Africa)(2) 4,515,100 4,288,400 4,575,000 4,417,000 4,537,100 5% 0% 17,795,600 18,358,600 (3)%
Export
(Colombia)(3) 2,314,900 2,055,100 2,016,900 2,199,300 2,356,500 13% (2)% 8,586,100 10,219,900 (16)%
Domestic
(South
Africa) 2,510,800 2,621,300 2,623,600 2,290,200 3,292,500 (4)% (24)% 10,045,900 13,692,300 (27)%
Total coal
production 16,013,600 15,971,600 15,304,200 13,401,200 16,260,800 0% (2)% 60,690,500 65,482,500 (7)%
---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Sales volumes
Metallurgical
Coal
(Australia) 6,100,100 6,371,500 5,987,300 3,921,700 5,812,700 (4)% 5% 22,380,600 21,982,800 2%
Hard Coking
Coal 5,097,200 5,737,800 4,944,300 3,290,600 5,064,200 (11)% 1% 19,069,900 19,186,600 (1)%
PCI / SSCC 1,002,900 633,700 1,043,000 631,100 748,500 58% 34% 3,310,700 2,796,200 18%
--------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
Thermal Coal 12,939,200 12,166,100 12,046,300 12,265,900 13,700,800 6% (6)% 49,417,500 52,615,600 (6)%
Export
(Australia) 500,900 584,600 270,900 451,200 582,200 (14)% (14)% 1,807,600 1,565,300 15%
Export (South
Africa)(2) 4,880,100 4,073,300 4,932,400 4,262,800 5,918,700 20% (18)% 18,148,400 18,306,600 (1)%
Export
(Colombia)(3) 2,260,800 2,068,600 2,244,800 2,199,600 2,297,200 9% (2)% 8,773,800 10,129,400 (13)%
Domestic
(South
Africa) 2,172,700 3,175,200 2,016,700 2,402,800 1,947,500 (32)% 12% 9,767,500 13,110,800 (26)%
Third party
sales 3,124,700 2,264,400 2,581,500 2,949,500 2,955,200 38% 6% 10,920,200 9,503,500 15%
--------------- ---------- ---------- ---------- ---------- ---------- --- --- ---------- ---------- ---
(1) Anglo American's attributable share of production.
(2) Includes export primary production, secondary production
sold into export markets, production sold domestically at export
parity pricing, and pre-commercial production volumes from
Navigation section of Khwezela.
(3) Anglo American's attributable share of Cerrejón production is 33.3%.
Coal, by operation Q4 2019 Q4 2019 2019
(tonnes)(1) vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
--------- ----------
2019 2019 2019 2019 2018 2019 2018
---------- ---------- ---------- ---------- ---- --- ----- --- ----------
Metallurgical
Coal (Australia) 6,283,600 6,568,900 5,843,500 4,156,200 5,647,100 (4)% 11% 22,852,200 21,830,400 5%
Moranbah North 2,332,600 1,973,100 1,603,200 239,500 2,485,200 18% (6)% 6,148,400 6,762,000 (9)%
Grosvenor 1,011,700 1,344,500 1,032,500 1,333,200 356,100 (25)% 184% 4,721,900 3,763,500 25%
Capcoal (incl.
Grasstree) 1,270,300 1,709,200 1,738,900 1,213,600 1,357,800 (26)% (6)% 5,932,000 5,642,700 5%
Dawson 842,500 703,200 774,000 633,300 666,100 20% 26% 2,953,000 2,393,400 23%
Jellinbah 826,500 838,900 694,900 736,600 781,900 (1)% 6% 3,096,900 3,268,800 (5)%
Thermal Coal
(Australia) 389,200 437,900 245,200 338,500 427,600 (11)% (9)% 1,410,700 1,381,300 2%
Capcoal 123,200 81,300 63,700 64,000 81,000 52% 52% 332,200 284,100 17%
Dawson 222,900 323,200 145,200 263,300 320,500 (31)% (30)% 954,500 986,100 (3)%
Jellinbah 43,100 33,400 36,300 11,200 26,100 29% 65% 124,000 111,100 12%
-------------------- ---------- ---------- ---------- ---------- ---------- ---- ----- ---------- ---------- ----
Total Australia
production 6,672,800 7,006,800 6,088,700 4,494,700 6,074,700 (5)% 10% 24,262,900 23,211,700 5%
---------- ---------- ---------- ---------- ---------- ---- ----- ---------- ---------- ----
Thermal (South
Africa)(2)
Goedehoop 1,488,800 1,441,100 1,678,500 1,457,700 1,590,700 3% (6)% 6,066,300 5,441,600 11%
Greenside 1,428,700 1,237,200 1,186,700 993,300 1,202,300 15% 19% 4,845,900 4,451,700 9%
Zibulo 1,351,000 1,294,100 1,394,600 1,319,600 1,681,500 4% (20)% 5,359,300 6,376,800 (16)%
Khwezela(3) 1,530,300 1,433,400 1,463,300 1,333,800 1,522,000 7% 1% 5,760,800 5,532,100 4%
Mafube 481,200 450,600 443,900 431,800 464,200 7% 4% 1,807,500 1,144,600 58%
Other(4) - - - - - n/a n/a - 1,680,700 n/a
Eskom-tied - - - - - n/a n/a - 2,825,500 n/a
operations(5)
Isibonelo 745,900 1,053,300 1,031,600 1,171,000 1,368,900 (29)% (46)% 4,001,700 4,597,800 (13)%
-------------------- ---------- ---------- ---------- ---------- ---------- ---- ----- ---------- ---------- ----
Total South Africa
production 7,025,900 6,909,700 7,198,600 6,707,200 7,829,600 2% (10)% 27,841,500 32,050,900 (13)%
Colombia
(Cerrejón)(6) 2,314,900 2,055,100 2,016,900 2,199,300 2,356,500 13% (2)% 8,586,100 10,219,900 (16)%
---------- ---------- ---------- ---------- ---------- ---- ----- ---------- ---------- ----
Total Coal
production 16,013,600 15,971,600 15,304,200 13,401,200 16,260,800 0% (2)% 60,690,500 65,482,500 (7)%
-------------------- ---------- ---------- ---------- ---------- ---------- ---- ----- ---------- ---------- ----
(1) Anglo American's attributable share of production.
(2) Export and domestic production; the Eskom-tied operations
and Isibonelo produce exclusively domestic volumes.
(3) Includes pre-commercial production volumes from Navigation section.
(4) Other production comes from the recovery of saleable product from mineral residue deposits.
(5) The sale of the Eskom-tied operations was completed on 1 March 2018.
(6) Anglo American's attributable share of Cerrejón production is 33.3%.
NICKEL
Nickel (tonnes) Q4 2019 Q4 2019 2019
vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- -------
2019 2018 2019 2019 2018
------ --- ---- ------- ------
Nickel 11,700 11,400 3% 11,300 4% 42,600 42,300 1%
----------------- ------ ------ --- --- ------ ------- ------ ------ ---- -----
Nickel production increased by 3% reflecting improved
operational stability.
2020 Production Guidance
Production guidance for 2020 is unchanged at 42,000-44,000
tonnes.
Nickel Q4 2019 Q4 2019 2019
vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
---------- ----------
2019 2019 2019 2019 2018 2019 2018
--------- --------- ------- ------- ----- --- ----- --- ---------
Barro Alto
Ore mined 623,300 1,198,800 1,365,400 888,000 816,500 (48)% (24)% 4,075,600 4,667,200 (13)%
Ore processed 609,200 612,000 519,000 525,400 607,300 0% 0% 2,265,700 2,264,200 0%
Ore grade
processed
- %Ni 1.73 1.66 1.67 1.67 1.74 4% (1)% 1.69 1.71 (1)%
Production 9,500 9,200 7,600 7,700 9,100 3% 4% 33,900 33,500 1%
--------------- ------- --------- --------- ------- ------- ----- ----- --------- --------- ----
Codemin
Ore mined - 1,300 39,000 - 8,400 n/a n/a 40,300 8,400 380%
Ore processed 141,600 140,200 148,900 139,900 150,600 1% (6)% 570,500 581,400 (2)%
Ore grade
processed
- %Ni 1.68 1.69 1.62 1.62 1.68 (1)% 0% 1.65 1.66 (1)%
Production 2,200 2,100 2,300 2,100 2,300 5% (4)% 8,700 8,800 (1)%
Total Nickel
production(1) 11,700 11,300 9,800 9,800 11,400 4% 3% 42,600 42,300 1%
------- --------- --------- ------- ------- ----- ----- --------- --------- ----
Sales volumes 12,500 10,600 8,800 9,800 12,600 18% (1)% 41,700 43,100 (3)%
--------------- ------- --------- --------- ------- ------- ----- ----- --------- --------- ----
(1) Excludes nickel production from the PGMs business unit.
MANGANESE
Manganese (000 Q4 2019 Q4 2019 2019
t) vs. Q4 vs. Q3 vs. 2018
Q4 Q4 2018 Q3 2019
--------- ---------
2019 2018 2019 2019 2018
----- ----- ---- --- -----
Manganese ore(1) 903 972 (7)% 910 (1)% 3,513 3,607 (3)%
Manganese alloys(1)(2) 32 38 (17)% 29 8% 137 157 (13)%
------------------------ ----- ----- ----- ---- ---- ----- ----- ------
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
Manganese ore production decreased by 7% to 902,900 tonnes,
mainly due to mining fleet reliability issues in South Africa.
Manganese alloy production decreased by 17% to 31,600 tonnes due
to a furnace outage in Australia.
Manganese Q4 2019 Q4 2019 2019
(tonnes) vs. vs. vs.
Q4 Q3 Q2 Q1 Q4 Q3 2019 Q4 2018 2018
----------- -----------
2019 2019 2019 2019 2018 2019 2018
------- ------- ------- ------- ------ --- ------ --- ---------
Samancor
Manganese
ore(1) 902,900 910,400 826,100 874,000 971,900 (1)% (7)% 3,513,400 3,606,500 (3)%
Manganese
alloys(1)(2) 31,600 29,200 41,200 35,200 38,000 8% (17)% 137,200 156,800 (13)%
--------------- ------- ------- ------- ------- ------- ------ ------ --------- --------- ----
Samancor sales
volumes
Manganese ore 911,000 897,800 958,400 843,400 959,800 1% (5)% 3,610,600 3,534,500 2%
Manganese
alloys 27,200 30,400 44,800 30,100 44,000 (11)% (38)% 132,500 161,100 (18)%
--------------- ------- ------- ------- ------- ------- ------ ------ --------- --------- ----
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
EXPLORATION AND EVALUATION
Exploration and evaluation expenditure increased by 15% to $92
million. Exploration expenditure increased by 52% to $44 million
driven by increased drilling activities in Copper, PGMs and Kumba
Iron Ore. Evaluation expenditure decreased by 4% to $49 million
largely due to decreased works in Copper, partially offset by
increased spend in Metallurgical Coal, Thermal Coal and De
Beers.
CORPORATE ACTIVITY AND OTHER ITEMS
During the quarter, charges recognised within EBITDA relating to
rehabilitation provisions are currently estimated to be $0.1
billion at De Beers and $0.1 billion at Copper.
REALISED PRICES SUMMARY
Average realised prices 2019 2018 H2 2019 H1 2019 2019 H2 2019
vs. 2018 vs. H1
2019
----- ----- -------- -------- ------------
De Beers
Consolidated average realised
price ($/ct)(1) 137 171 121 151 (20)% (20)%
Average price index(2) 116 123 107 118 (6)% (9)%
Copper (USc/lb)(3) 273 283 268 280 (4)% (4)%
PGMs
Platinum (US$/oz) 861 871 886 831 (1)% 7%
Palladium (US$/oz) 1,518 1,029 1,641 1,400 48% 17%
Rhodium (US$/oz) 3,808 2,204 4,726 2,840 73% 66%
Basket price (US$/Pt oz) 2,819 2,219 2,930 2,685 27% 9%
Iron Ore - FOB prices
Kumba Export (US$/dmt)(4) 97 72 86 108 35% (20)%
Minas-Rio (US$/wmt)(5) 79 70 69 92 13% (25)%
Coal
Australia
Metallurgical - HCC (US$/t)(6) 171 194 153 195 (12)% (22)%
Metallurgical - PCI (US$/t)(6) 110 128 98 123 (14)% (20)%
Thermal - Export (US$/t) 70 103 57 88 (32)% (35)%
South Africa
Thermal - Export (US$/t)(7) 61 87 59 64 (30)% (8)%
Thermal - Domestic (US$/t, FOR)(8) 14 19 13 15 (26)% (13)%
Colombia
Thermal - Export (US$/t) 56 83 51 62 (33)% (18)%
Nickel (USc/lb) 624 588 672 563 6% 19%
------------------------------------ ----- ----- -------- -------- ------ --- -----
(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 12-month period. The De Beers price index is relative to 100 as
at December 2006.
(3) The realised price for Copper excludes third party sales
volumes.
(4) Average realised export basket price (FOB Saldanha). For
2019 and H2 2019 the realised prices differ to Kumba's standalone
Q4 results due to sales to other Group companies.
(5) Average realised export basket price (FOB Açu) (wet
basis).
(6) Weighted average metallurgical coal sales price
achieved.
(7) Weighted average export thermal coal price achieved.
(8) Weighted average domestic thermal coal price achieved on all
domestic thermal coal sales.
NOTES
-- This Production Report for the quarter ended 31 December 2019 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 to page 16 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.
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
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
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
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management for future operations (including development plans and
objectives relating to Anglo American's products, production
forecasts and Ore Reserves and Mineral Resources), 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
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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
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costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in
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by governmental authorities such as permitting and changes in
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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
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the City Code on Takeovers and Mergers (the "Takeover Code"), the
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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.
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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
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presents the views of those third parties, though these may not
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Anglo American expressly disclaims any responsibility for, or
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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.
www.angloamerican.com
Legal Entity Identifier: 549300S9XF92D1X8ME43
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contact rns@lseg.com or visit www.rns.com.
END
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January 23, 2020 02:00 ET (07:00 GMT)
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