TIDMAAL
RNS Number : 9069F
Anglo American PLC
18 July 2019
http://www.rns-pdf.londonstockexchange.com/rns/9069F_1-2019-7-17.pdf
Anglo American plc
Production Report for the second quarter ended 30 June 2019
Mark Cutifani, Chief Executive of Anglo American, said:
"Production is up 2%(1) for the quarter, due to the successful
ramp-up at Minas-Rio and strong performance at Metallurgical Coal
following the longwall moves and plant upgrade work in Q1. Kumba
Iron Ore continues to improve following Q1 production challenges.
De Beers, in view of prevailing market conditions, will continue to
produce to demand for the year. We remain broadly on track overall
to deliver this full year's production targets, with an increase to
Minas-Rio guidance offsetting two reductions at De Beers and Kumba
Iron Ore."
Highlights
-- De Beers' diamond production decreased by 14% to 7.7 million
carats in the quarter, as we continue to produce to market demand
and as Venetia transitions from open pit to underground.
-- Copper production increased by 1% to 159,100 tonnes due to
strong performance at Los Bronces and Collahuasi.
-- Platinum production increased by 3%(2) to 520,300 ounces and
palladium decreased by 1%(2) to 347,200 ounces, due to a change in
mix of production from each operation.
-- Kumba's iron ore production decreased by 9% to 10.5 million
tonnes due to plant maintenance.
-- Minas-Rio's iron ore production was 5.9 million tonnes as its
strong ramp-up continues ahead of schedule.
-- Metallurgical coal production increased by 11% to 5.8 million
tonnes due to generally stronger performance and the completion of
Q1 longwall moves.
-- Thermal coal production decreased by 8% to 6.6 million tonnes
primarily due to local drought conditions at Cerrejón.
Production Summary
Q2 2019 Q2 2018 % vs. Q2 H1 2019 H1 2018 % vs. H1
2018 2018
Diamonds (Mct)(3) 7.7 9.0 (14)% 15.6 17.5 (11)%
-------- -------- -------- -------- --------- ---------
Copper (kt)(4) 159 158 1% 320 313 2%
-------- -------- -------- -------- --------- ---------
Platinum (koz)(5) 520 508(2) 3% 992 1,006(2) (1)%
-------- -------- -------- -------- --------- ---------
Palladium (koz)(5) 347 350(2) (1)% 674 699(2) (4)%
-------- -------- -------- -------- --------- ---------
Iron ore - Kumba
(Mt) 10.5 11.6 (9)% 20.1 22.4 (11)%
-------- -------- -------- -------- --------- ---------
Iron ore - Minas-Rio
(Mt)(6) 5.9 0.1 n/a 10.8 3.2 n/a
-------- -------- -------- -------- --------- ---------
Metallurgical
coal (Mt) 5.8 5.3 11% 10.0 10.8 (7)%
-------- -------- -------- -------- --------- ---------
Thermal coal
(Mt)(7) 6.6 7.2 (8)% 13.2 14.0 (5)%
-------- -------- -------- -------- --------- ---------
Nickel (kt)(8) 9.8 10.8 (9)% 19.6 19.4 1%
-------- -------- -------- -------- --------- ---------
Manganese ore
(kt) 826 866 (5)% 1,700 1,747 (3)%
-------- -------- -------- -------- --------- ---------
(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 4% 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 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 carats) Q2 Q2 Q2 2019 Q1 2019 Q2 2019 vs. H1 2019 H1 2018 H1 2019 vs.
2019 2018 vs. Q1 2019 H1 2018
Q2 2018
----- ----- -------- -------- ------------ -------- --------
Botswana (Debswana) 5,718 6,279 (9)% 5,950 (4)% 11,668 12,087 (3)%
Namibia (Namdeb Holdings) 335 515 (35)% 483 (31)% 818 1,044 (22)%
South Africa (DBCM) 571 1,018 (44)% 382 49% 953 2,111 (55)%
Canada 1,075 1,185 (9)% 1,037 4% 2,112 2,253 (6)%
Total carats recovered 7,699 8,997 (14)% 7,852 (2)% 15,551 17,495 (11)%
-------------------------- ----- ----- -------- -------- ------------ -------- -------- ------------
Rough diamond production decreased by 14% to 7.7 million carats
driven by reductions in Botswana (Debswana) and South Africa
(DBCM). Production guidance has been revised downwards to 31
million carats, in response to weaker trading conditions.
Botswana (Debswana) production decreased by 9% to 5.7 million
carats. This was driven by a decrease at Orapa(2) of 23% to 2.5
million carats following a planned plant shut down brought forward
from H2 2019, which impacted production in late Q1 and early Q2.
Production at Jwaneng increased by 7% to 3.2 million carats, driven
by an increase in tonnes treated.
Namibia (Namdeb Holdings) production decreased by 35% to 0.3
million carats, driven by Elizabeth Bay transitioning onto care and
maintenance in Q4 2018 and planned maintenance for the Mafuta
crawler vessel.
South Africa (DBCM) production decreased by 44% to 0.6 million
carats due to lower mined volumes at Venetia as it approaches the
transition from open pit to underground. In addition, Voorspoed
production came to an end as it was placed onto care and
maintenance in Q4 2018 in preparation for closure.
Canada production decreased by 9% to 1.1 million carats due to
planned lower grades at Gahcho Kué. Victor production decreased by
4% to 0.2 million carats as it reached the end of its life during
Q2 2019.
Rough diamond sales were 9.0 million carats (8.3 million carats
on a consolidated basis)(3) from three sales cycles compared with
10.0 million carats (9.4 million carats on a consolidated basis)(3)
from the same number of sales cycles in Q2 2018. Demand for rough
diamonds remains subdued as a result of challenges in the midstream
with higher polished inventories, and caution due to macro-economic
uncertainty, including the US - China trade tensions.
The H1 2019 average realised rough diamond price decreased by 7%
to $151/carat (H1 2018: $162/carat), which was driven by a 4%
reduction in the average rough price index and a change in the
sales mix in response to weaker conditions.
Full Year Guidance
Production guidance(1) is revised to 31 million carats, the
lower end of the previous range (31-33 million carats), in response
to weaker trading conditions experienced in the period.
(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).
De Beers(1) Q2 Q1 Q4 Q3 Q2 Q2 Q2 2019 H1 H1 H1 2019
2019 2019 2018
vs.
2019 2019 2018 2018 2018 Q1 vs. vs.
2019
Q2 2018 H1 2018
----- ----- ----- ----- ----- ------- -------- ------- -------
Carats recovered
(000 carats)
100% basis (unless
stated)
Jwaneng 3,223 3,336 2,744 3,143 3,025 (3)% 7% 6,559 6,009 9%
Orapa(2) 2,495 2,614 3,602 2,556 3,254 (5)% (23)% 5,109 6,078 (16)%
Botswana (Debswana) 5,718 5,950 6,346 5,699 6,279 (4)% (9)% 11,668 12,087 (3)%
Debmarine Namibia 245 364 400 322 349 (33)% (30)% 609 714 (15)%
Namdeb (land
operations) 90 119 105 138 166 (24)% (46)% 209 330 (37)%
Namibia (Namdeb
Holdings) 335 483 505 460 515 (31)% (35)% 818 1,044 (22)%
Venetia 571 382 1,141 1,178 922 49% (38)% 953 1,931 (51)%
Voorspoed - - 93 159 96 n/a (100)% - 180 (100)%
South Africa
(DBCM) 571 382 1,234 1,337 1,018 49% (44)% 953 2,111 (55)%
Gahcho Kué
(51% basis) 883 808 789 927 985 9% (10)% 1,691 1,822 (7)%
Victor 192 229 254 251 200 (16)% (4)% 421 431 (2)%
Canada 1,075 1,037 1,043 1,178 1,185 4% (9)% 2,112 2,253 (6)%
-------------------- ----- ----- ----- ----- ----- -------
Total carats
recovered 7,699 7,852 9,128 8,674 8,997 (2)% (14)% 15,551 17,495 (11)%
-------------------- ----- ----- ----- ----- ----- -------
Sales volumes
Total sales
volume (100)%
(Mct)(3) 9.0 7.5 9.9 5.0 10.0 20% (10)% 16.5 18.8 (12)%
Consolidated
sales volume
(Mct)(3) 8.3 7.2 9.3 4.6 9.4 15% (12)% 15.5 17.8 (13)%
Number of Sights
(sales cycles) 3 2 3 2 3 5 5
-------------------- ----- ----- ----- ----- ----- ------- -------- ------- ------- --------
(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) Q2 Q2 Q2 2019 Q1 Q2 2019 vs. H1 2019 H1 2018 H1 2019 vs.
2019 2018 vs. 2019 Q1 2019 H1 2018
Q2 2018
Los Bronces 91,200 89,700 2% 91,700 (1)% 182,900 174,700 5%
Collahuasi (44% share) 54,700 54,700 0% 57,300 (5)% 112,000 115,300 (3)%
El Soldado 13,200 13,600 (3)% 12,100 9% 25,300 22,900 10%
Total Copper 159,100 158,000 1% 161,100 (1)% 320,200 312,900 2%
----------------------- ------- ------- -------- -------- ------------ -------- -------- ------------
(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 to 159,100 tonnes, reflecting strong
performance at both Los Bronces and Collahuasi.
Production from Los Bronces increased by 2% to 91,200 tonnes,
driven by planned higher grades (0.81% vs. 0.76%). The operation
has experienced a reduction in water availability and storage due
to the ongoing drought affecting Chile's central region, with the
first half of 2019 being one of the driest autumns ever recorded.
While production losses are expected to be largely mitigated for
2019, low precipitation levels over the Chilean winter and spring
remain a risk for 2020.
At Collahuasi, attributable production was in line with Q2 2018
at 54,700 tonnes with planned lower grades (1.21% vs. 1.34%) offset
by a strong plant performance. The planned three month shut down,
to replace a stator motor at the second ball mill on Line 3 (Line 3
has two ball mills and is responsible for 60% of plant throughput),
was completed successfully at the end of June.
H1 2019 sales volumes were 307,300 tonnes, at an average
realised price of 280c/lb ($6,173/t), in line with the average LME
price.
Full Year Guidance
Production guidance is unchanged at 630,000-660,000 tonnes.
Copper(1) Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018 Q2 Q2 H1 2019 H1 2018 H1
2019 2019 2019
vs. vs. vs.
Q1 Q2 H2
2019 2018 2018
Los Bronces
mine(2)
Ore mined 17,302,500 15,678,600 12,675,800 13,019,000 17,837,300 10% (3)% 32,981,100 33,512,600 (2)%
Ore processed
- Sulphide 11,813,600 12,070,800 12,669,900 13,089,300 12,346,700 (2)% (4)% 23,884,400 24,823,800 (4)%
Ore grade
processed
-
Sulphide (%
TCu)(3) 0.81 0.80 0.81 0.76 0.76 1% 7% 0.81 0.73 11%
Production -
Copper cathode 9,300 9,600 10,200 10,300 10,000 (3)% (7)% 18,900 18,500 2%
Production -
Copper in
concentrate 81,900 82,100 88,800 85,500 79,700 (0)% 3% 164,000 156,200 5%
Total production 91,200 91,700 99,000 95,800 89,700 (1)% 2% 182,900 174,700 5%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
Collahuasi 100%
basis
(Anglo American
share 44)%
Ore mined 23,698,300 15,642,800 14,781,300 13,791,400 11,454,400 51% 107% 39,341,100 23,313,700 69%
Ore processed
- Sulphide 11,626,100 13,299,600 13,638,400 12,332,800 10,605,100 (13)% 10% 24,925,700 23,499,300 6%
Ore grade
processed
-
Sulphide (%
TCu)(3) 1.21 1.16 1.28 1.33 1.34 4% (10)% 1.18 1.29 (9)%
Production -
copper in
concentrate 124,400 130,200 157,400 139,700 124,500 (4)% 0% 254,600 262,100 (3)%
Anglo American's
share of copper
production for
Collahuasi(4) 54,700 57,300 69,200 61,500 54,700 (5)% 0% 112,000 115,300 (3)%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
El Soldado
mine(2)
Ore mined 3,017,800 3,089,000 3,233,900 3,361,000 2,905,800 (2)% 4% 6,106,800 5,018,300 22%
Ore processed
- Sulphide 1,861,900 1,809,900 1,951,600 2,036,000 1,825,000 3% 2% 3,671,800 3,610,600 2%
Ore grade
processed
-
Sulphide (%
TCu)(3) 0.92 0.84 0.94 0.87 0.90 10% 2% 0.88 0.79 12%
Production -
copper in
concentrate 13,200 12,100 15,300 14,500 13,600 9% (3)% 25,300 22,900 10%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
Chagres
Smelter(2)
Ore smelted 32,100 30,300 30,900 37,700 39,300 6% (18)% 62,400 74,000 (16)%
Production 31,200 29,500 30,100 36,900 38,400 6% (19)% 60,700 72,200 (16)%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
Total copper
production(5) 159,100 161,100 183,500 171,800 158,000 (1)% 1% 320,200 312,900 2%
Total payable
copper
production 153,100 155,000 177,100 165,700 152,600 (1)% 0% 308,100 301,700 2%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
Total sales
volumes 165,400 141,900 205,800 159,900 174,400 17% (5)% 307,300 306,000 0%
Total payable
sales volumes 159,100 136,500 198,400 154,200 168,400 17% (6)% 295,600 295,100 0%
Third party
sales(6) 88,800 53,400 50,400 51,800 40,700 66% 118% 142,200 71,500 99%
----------------- ----------- ----------- ----------- ----------- ----------- ------ ------ ----------- ----------- ------
(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)
Q2 Q2 Q2 2019 Q1 Q2 2019 vs. H1 2019 H1 2018 H1 2019 vs.
2019 2018 vs. 2019 Q1 2019 H1 2018
Platinum (000 oz)(1) Q2 2018
------ ----- -------- ----- ------------ -------- --------
Metal in concentrate production(2) 520.3 507.5 3% 471.9 10% 992.2 1,005.6 (1)%
Own mined(3) 342.8 340.2 1% 321.9 6% 664.7 683.2 (3)%
Purchase of concentrate (POC)(2)(4) 177.5 167.3 6% 150.0 18% 327.5 322.4 2%
POC now under tolling arrangement(5) - 112.1 (100)% - n/a - 227.8 (100)%
Palladium (000 oz)(1)
Metal in concentrate production(2) 347.2 349.8 (1)% 326.6 6% 673.8 698.9 (4)%
Own mined(3) 260.5 260.8 0% 250.9 4% 511.4 528.3 (3)%
Purchase of concentrate (POC)(2)(4) 86.7 89.0 (3)% 75.7 14% 162.4 170.6 (5)%
POC now under tolling arrangement(5) - 56.2 (100)% - n/a - 114.3 (100)%
Refined production
Platinum 000 oz(1)(6) 590.9 572.7 3% 411.7 44% 1,002.6 1,075.3 (7)%
Palladium 000 oz(1)(6) 428.2 366.7 17% 293.6 46% 721.8 686.5 5%
Rhodium 000 oz(1)(6) 84.1 73.8 14% 52.0 62% 136.1 136.3 0%
Gold 000 oz(1)(6) 21.3 27.3 (22)% 24.0 (11)% 45.3 50.2 (10)%
Nickel t(6) 5,600 5,700 (2)% 4,200 33% 9,800 10,800 (9)%
Copper t(6) 3,500 4,000 (13)% 3,200 9% 6,700 7,200 (7)%
Tolled material
Platinum 000 oz(1) 97.9 - n/a - n/a 97.9 - n/a
Palladium 000 oz(1) 49.1 - n/a - n/a 49.1 - 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 excludes toll material but includes in
comparative periods material now transitioned to tolling.
Platinum production increased by 3% to 520,300 ounces while
palladium production decreased by 1% to 347,200 ounces: both
numbers exclude the impact of the transition of Sibanye-Stillwater
Rustenburg material to a tolling arrangement in 2019.
Own mined production
Own mined platinum production increased by 1% to 342,800 ounces
and palladium production is in line with Q2 2018 at 260,500
ounces.
Mogalakwena platinum production decreased by 4% to 127,900
ounces and palladium production by 4% to 139,500 ounces primarily
due to mining through a higher waste area, as well as a decrease in
concentrator throughput and recoveries.
Amandelbult platinum production is in line with the same period
in the prior year at 116,600 ounces, while palladium production
increased by 3% to 53,700 ounces. The development and ramp-up of
the Dishaba section continues, resulting in an 18% improvement
compared to Q1 2019.
Unki platinum production increased by 11% to 23,100 ounces and
palladium by 14% to 20,900 ounces due to improved underground
mining efficiencies as well as improved concentrator throughput,
mill run-time and higher recoveries.
On a 100% basis, Mototolo platinum production decreased by 32%
to 23,000 ounces and palladium production by 33% to 14,000 ounces
due to two weeks of unprotected industrial action (impact of 4,000
platinum ounces and 2,500 palladium ounces) and lower grades.
Furthermore, Q2 2018 included additional production treated at
Bokoni.
Joint venture platinum production, excluding Mototolo, decreased
by 1% to 104,400 ounces (of which 52,200 ounces was own mined
production and 52,200 ounces was purchased concentrate) and
palladium production decreased by 6% to 64,800 ounces (of which
32,400 ounces was own mined production and 32,400 ounces was
purchased concentrate). This was driven by safety stoppages at
Modikwa, partly offset by increased production at Kroondal.
Including Mototolo, joint venture platinum production decreased by
25% and palladium production decreased by 28%, due to the
acquisition of the remaining 50% of Mototolo in November 2018,
after which it ceased to be a joint venture.
Purchase of concentrate
Purchase of platinum in concentrate increased by 6% to 177,500
ounces and palladium decreased by 3% to 86,700 ounces due to higher
production at Bafokeng-Rasimone Platinum Mine and Union, offset by
lower production from joint ventures as outlined above.
Refined production and sales volumes
Refined platinum production(1) increased by 20% to 559,000
ounces and refined palladium production(1) increased by 31% to
410,800 ounces. The increase was driven by improved operational
performance at the converter plant.
Platinum sales volumes(1) increased by 8% to 557,800 ounces and
palladium sales volumes(1) increased by 31% to 451,300, in line
with refined production.
Full Year Guidance
Production guidance (metal in concentrate) remains unchanged at
2.0-2.1 million ounces of platinum and 1.3-1.4 million ounces of
palladium.
(1) Does not include tolled volumes. Also excluding concentrate
purchased from Sibanye-Stillwater.
Platinum Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q1 20 Q2 2019 H1 2019 H1 2018 H1 2019 vs.
19
2019 2019 2018 2018 2018 vs. H1 2018
Q2 2018
Produced platinum
(000 oz)(1) 520.3 471.9 485.4 529.5 507.5 10% 3% 992.2 1,005.6 (1)%
Own mined 342.8 321.9 307.5 332.9 340.2 6% 1% 664.7 683.2 (3)%
Mogalakwena 127.9 130.4 108.4 113.9 133.4 (2)% (4)% 258.3 272.9 (5)%
Amandelbult 116.6 98.5 96.5 126.0 116.3 18% 0% 215.1 220.2 (2)%
Unki 23.1 19.3 22.0 22.4 20.9 20% 11% 42.4 41.4 2%
Mototolo(2) 23.0 26.8 17.5 - - (14)% n/a 49.8 - n/a
Joint ventures(2) 52.2 46.9 63.1 70.6 69.6 11% (25)% 99.1 137.1 (28)%
Union - - - - - n/a n/a - 11.6 (100)%
Purchase of
concentrate(3) 177.5 150.0 177.9 196.6 167.3 18% 6% 327.5 322.4 2%
Joint ventures(2) 52.2 46.9 63.1 70.6 69.6 11% (25)% 99.1 137.1 (28)%
Associates(4) - - 46.9 66.7 54.3 n/a (100)% - 106.5 (100)%
Third parties(3) 125.3 103.1 67.9 59.3 43.4 22% 189% 228.4 78.7 190%
POC now under
tolling
arrangements(5) - - 116.9 119.5 112.1 n/a (100)% - 227.8 (100)%
Palladium
Produced palladium
(000 oz)(1) 347.2 326.6 328.5 351.4 349.8 6% (1)% 673.8 698.9 (4)%
Own mined 260.5 250.9 234.8 250.2 260.8 4% 0% 511.4 528.3 (3)%
Mogalakwena 139.5 141.5 118.2 127.1 145.1 (1)% (4)% 281.0 295.5 (5)%
Amandelbult 53.7 44.9 44.9 57.3 52.2 20% 3% 98.6 102.9 (4)%
Unki 20.9 17.0 19.6 19.7 18.4 23% 14% 37.9 36.2 5%
Mototolo(2) 14.0 16.3 10.9 - - (14)% n/a 30.3 - n/a
Joint ventures(2) 32.4 31.2 41.2 46.1 45.1 4% (28)% 63.6 88.5 (28)%
Union - - - - - n/a n/a - 5.2 (100)%
Purchase of
concentrate(3) 86.7 75.7 93.7 101.2 89.0 15% (3)% 162.4 170.6 (5)%
Joint ventures(2) 32.4 31.2 41.2 46.1 45.1 4% (28)% 63.6 88.5 (28)%
Associates(4) - - 19.3 27.2 22.0 n/a (100)% - 43.8 (100)%
Third parties(3) 54.3 44.5 33.2 27.9 21.9 22% 148% 98.8 38.3 158%
POC now under
tolling
arrangements(5) - - 58.1 59.4 56.2 n/a (100)% - 114.3 (100)%
Refined production
Platinum (000
oz)(1)(6) 590.9 411.7 770.9 556.2 572.7 44% 3% 1,002.6 1,075.3 (7)%
Palladium (000
oz)(1)(6) 428.2 293.6 493.8 321.5 366.7 46% 17% 721.8 686.5 5%
Rhodium (000
oz)(1)(6) 84.1 52.0 91.3 65.2 73.8 62% 14% 136.1 136.3 0%
Gold (000
oz)(1)(6) 21.3 24.0 27.9 27.4 27.3 (11)% (22)% 45.3 50.2 (10)%
Nickel (tonnes)(6) 5,600 4,200 6,700 5,600 5,700 33% (2)% 9,800 10,800 (9)%
Copper (tonnes)(6) 3,500 3,200 4,200 2,900 4,000 9% (13)% 6,700 7,200 (7)%
Tolled material
Platinum (000
oz)(1) 97.9 - - - - n/a n/a 97.9 - n/a
Palladium (000
oz)(1) 49.1 - - - - n/a n/a 49.1 - n/a
Platinum sales
volumes
(000 oz)(1)(8) 595.2 414.2 776.9 530.1 636.4 44% (6)% 1,009.4 1,117.1 (10)%
Palladium sales
volumes
(000 oz)(1)(8) 475.9 292.1 455.3 324.3 405.3 63% 17% 768.0 733.5 5%
Platinum 3(rd)
party sales
volumes (000
oz)(1)(9) 13.0 5.0 1.5 26.9 45.8 160% (72)% 18.0 65.6 (73)%
Palladium 3(rd)
party sales
volumes (000
oz)(1)(9) 81.0 58.7 16.5 55.0 45.0 38% 80% 139.7 53.0 164%
4E head grade (g/t
milled)(7) 3.55 3.58 3.38 3.58 3.60 (1)% (1)% 3.57 3.52 1%
------------------- ----- ----- ----- ----- ------ ------------------ -------- ------- -------- ------------
(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) 4E: the grade measured as the combined content of: platinum,
palladium, rhodium and gold, excludes tolled material.
(8) Sales from own mined and purchased concentrate, excludes
refined metal purchased from third parties.
(9) Relates to sales of metal not produced by Anglo American operations.
IRON ORE
Iron Ore (000 t) Q2 Q2 Q2 2019 Q1 Q2 2019 H1 2019 H1 2018 H1 2019
2019 2018 vs. 2019 vs. vs.
Q2 2018 Q1 2019 H1 2018
------ ------ -------- ------ --------- -------- --------
Kumba 10,544 11,572 (9)% 9,516 11% 20,060 22,427 (11)%
Minas-Rio(1) 5,915 106 n/a 4,910 20% 10,825 3,155 n/a
----------------- ------ ------ -------- ------ --------- -------- -------- --------
(1) Wet basis.
Kumba - Production decreased by 9% to 10.5 million tonnes as a
result of reductions at both Sishen and Kolomela due to unscheduled
plant maintenance. Subsequent improvements in plant stability
resulted in an 11% increase in production in Q2 2019 compared with
Q1 2019.
Sishen's production decreased by 8% to 7.3 million tonnes due to
unscheduled plant maintenance, while waste movement decreased as
planned by 6% to 41.8 million tonnes. Kolomela's production
decreased by 11% to 3.2 million tonnes, due to extended maintenance
at the dense media separation plant, while waste movement increased
as planned by 38% to 18.1 million tonnes.
Total sales remained broadly flat at 10.5 million tonnes, with a
2% increase in export sales to 9.8 million tonnes due to an
improvement in rail performance, partially offset by the impact on
shipments of poor weather conditions in June. Finished stock at 30
June 2019 was 4.5 million tonnes, slightly higher compared with 4.2
million tonnes at 31 March 2019.
In the first half of 2019 the ratio of lump to fines in Kumba
product was 68:32.
Minas-Rio - Production of 5.9 million tonnes was driven by a
strong operational performance that reflects the optimisation work
undertaken during 2018 while operations were suspended, and access
to higher grade ore in the Step 3 mining area.
Construction of a tailings dam lift is under way and is expected
to be complete in Q3 2019. The conversion of the installation
licence to an operating licence for this lift is expected by
year-end, subject to approval by the Minas Gerais state government
in Brazil.
Full Year Guidance
Production guidance for Kumba has been revised to 42-43 million
tonnes (previously 43-44 million tonnes) due to unscheduled plant
maintenance in the first six months of the year.
Minas-Rio production guidance for 2019 is increased to 19-21
million tonnes (previously 18-20 million tonnes) based on the
strong performance in the first six months of the year.
Iron Ore (tonnes) Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q2 2019 H1 2019 H1 2018 H1 2019
2019 2019 2018 2018 2018 Q1 2019 vs. vs.
Q2 2018 H1 2018
---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- -----------
Kumba production 10,544,000 9,516,300 10,170,200 10,508,400 11,572,000 11% (9)% 20,060,400 22,427,000 (11)%
Lump 7,111,400 6,544,600 6,878,600 7,159,800 7,889,600 9% (10)% 13,656,100 15,133,100 (10)%
Fines 3,432,600 2,971,700 3,291,600 3,348,600 3,682,400 16% (7)% 6,404,300 7,293,900 (12)%
------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- --------
Kumba production
by mine
Sishen 7,310,400 6,446,600 6,960,500 7,030,600 7,930,300 13% (8)% 13,757,000 15,254,900 (10)%
Kolomela 3,233,600 3,069,700 3,209,700 3,477,800 3,641,700 5% (11)% 6,303,300 7,172,100 (12)%
Kumba sales
volumes
Export iron ore 9,755,600 10,130,600 10,723,200 9,736,700 9,560,100 (4)% 2% 19,886,200 19,505,800 2%
Domestic iron ore 716,300 748,000 868,200 755,600 781,900 (4)% (8)% 1,464,300 1,667,300 (12)%
------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- --------
Minas-Rio
production
Pellet feed (wet
basis) 5,915,500 4,909,700 226,700 - 105,800 20% n/a 10,825,200 3,155,200 n/a
------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- --------
Minas-Rio sales
volumes
Export - pellet
feed (wet basis) 6,590,400 4,031,400 - - 320,800 63% n/a 10,621,800 3,216,800 n/a
------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- --------
COAL
Coal(1) (000 t) Q2 Q2 Q2 2019 Q1 Q2 2019 vs. H1 2019 H1 2018 Q1 2019
2019 2018 vs. 2019 Q1 2019 vs.
Q2 2018 Q4 2018
----- ----- -------- ------ ------------ -------- --------
Metallurgical Coal (Australia) 5,844 5,262 11% 4,156 41% 10,000 10,801 (7)%
Export Thermal Coal (Australia) 245 290 (15)% 339 (28)% 584 499 17%
Export Thermal Coal (South Africa)(2) 4,575 4,440 3% 4,417 4% 8,992 8,767 3%
Export Thermal Coal (Colombia) 2,017 2,762 (27)% 2,199 (8)% 4,216 5,206 (19)%
Domestic Thermal Coal
(South Africa) 2,624 2,780 (6)% 2,290 15% 4,914 7,750 (37)%
-------------------------------------- ----- ----- -------- ------ ------------ -------- -------- --------
(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.
Metallurgical Coal - Export metallurgical coal production
increased by 11% to 5.8 million tonnes, due to a larger impact from
longwall moves in Q2 2018 and an additional shovel at the Capcoal
open cut operation. Longwall moves in the second half of 2019 are
not expected to impact production materially.
In the second quarter, the ratio of hard coking coal production
to PCI/semi-soft coking coal was approximately 85:15 (first half:
82:18, lower due to longwall moves at hard coking coal
operations).
Thermal Coal South Africa - Export thermal coal production
increased by 3% to 4.6 million tonnes, with solid operational
performance across the portfolio offsetting planned decreases in
production from sections approaching end of life at Khwezela and
Goedehoop.
Domestic thermal coal production decreased by 6% to 2.6 million
tonnes as coal from mineral residue deposits became less economic
at prevailing prices.
Thermal Coal Colombia - Attributable export thermal coal
production from Cerrejón decreased by 27% to 2.0 million tonnes due
to dust management restrictions.
The weighted average realised price in the first half for export
thermal coal from South Africa and Colombia was $63/t, 9% lower
than the weighted average quoted FOB price from South Africa and
Colombia due to weaker market conditions and discounts on lower
energy content coal.
Full Year Guidance
Production guidance for metallurgical coal is unchanged at 22-24
million tonnes.
Production guidance for export thermal coal is unchanged at
26-28 million tonnes.
Coal, by product (tonnes Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q2 2019 H1 2019 H1 2018 H1 2019
)(1)
2019 2019 2018 2018 2018 Q1 2019 vs. vs.
Q2 2018 H1 2018
---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- -----------
Metallurgical Coal
(Australia) 5,843,500 4,156,200 5,647,100 5,382,300 5,261,900 41% 11% 9,999,700 10,801,100 (7)%
Hard Coking Coal 4,958,600 3,265,100 4,864,600 4,545,800 4,534,800 52% 9% 8,223,700 9,388,100 (12)%
PCI / SSCC 884,900 891,100 782,500 836,500 727,100 (1)% 22% 1,776,000 1,413,000 26%
Thermal Coal 9,460,700 9,245,000 10,613,700 10,816,800 10,271,300 2% (8)% 18,705,600 22,221,600 (16)%
Export (Australia) 245,200 338,500 427,600 455,100 289,900 (28)% (15)% 583,700 498,600 17%
Export (South
Africa)(2) 4,575,000 4,417,000 4,537,100 5,054,400 4,439,600 4% 3% 8,991,900 8,767,100 3%
Export (Colombia)(3) 2,016,900 2,199,300 2,356,500 2,657,600 2,761,500 (8)% (27)% 4,216,200 5,205,800 (19)%
Domestic (South Africa) 2,623,600 2,290,200 3,292,500 2,649,700 2,780,300 15% (6)% 4,913,800 7,750,100 (37)%
------------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- ---------
Total coal production 15,304,200 13,401,200 16,260,800 16,199,100 15,533,200 14% (1)% 28,705,300 33,022,700 (13)%
------------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- ---------
Sales volumes
Metallurgical Coal
(Australia) 5,987,300 3,921,700 5,812,700 5,442,800 5,094,500 53% 18% 9,909,000 10,727,400 (8)%
Hard Coking Coal 4,944,300 3,290,600 5,064,200 4,834,100 4,402,800 50% 12% 8,234,900 9,288,300 (11)%
PCI / SSCC 1,043,000 631,100 748,500 608,700 691,700 65% 51% 1,674,100 1,439,100 16%
------------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- ---------
Thermal Coal 12,046,300 12,265,900 13,700,800 11,782,900 12,904,300 (2)% (7)% 24,312,400 27,132,100 (10)%
Export (Australia) 270,900 451,200 582,200 331,600 357,800 (40)% (24)% 722,100 651,600 11%
Export (South
Africa)(2) 4,932,400 4,262,800 5,918,700 3,679,600 4,092,700 16% 21% 9,195,200 8,708,400 6%
Export (Colombia)(3) 2,244,800 2,199,600 2,297,200 2,589,100 2,762,900 2% (19)% 4,444,500 5,243,100 (15)%
Domestic (South Africa) 2,016,700 2,402,800 1,947,500 3,305,800 3,146,500 (16)% (36)% 4,419,500 7,857,500 (44)%
Third party sales 2,581,500 2,949,500 2,955,200 1,876,800 2,544,400 (12)% 1% 5,531,100 4,671,500 18%
------------------------ ---------- ---------- ---------- ---------- ---------- ------------ -------- ----------- ----------- ---------
(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.
(3) Anglo American's attributable share of Cerrejón production is 33.3%.
Coal, by operation (tonnes) Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q2 2019 H1 2019 H1 2018 H1 2019
(1)
2019 2019 2018 2018 2018 Q1 2019 vs. vs.
Q2 2018 H1 2018
---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- -----------
Metallurgical Coal
(Australia) 5,843,500 4,156,200 5,647,100 5,382,300 5,261,900 41% 11% 9,999,700 10,801,100 (7)%
Moranbah North 1,603,200 239,500 2,485,200 1,275,800 1,064,300 569% 51% 1,842,700 3,001,000 (39)%
Grosvenor 1,032,500 1,333,200 356,100 1,239,800 1,342,000 (23)% (23)% 2,365,700 2,167,600 9%
Capcoal (incl. Grasstree) 1,738,900 1,213,600 1,357,800 1,564,700 1,324,200 43% 31% 2,952,500 2,720,200 9%
Dawson 774,000 633,300 666,100 478,700 714,100 22% 8% 1,407,300 1,248,600 13%
Jellinbah 694,900 736,600 781,900 823,300 817,300 (6)% (15)% 1,431,500 1,663,600 (14)%
Thermal Coal (Australia) 245,200 338,500 427,600 455,100 289,900 (28)% (15)% 583,700 498,600 17%
Capcoal 63,700 64,000 81,000 71,600 66,000 - (3)% 127,700 131,500 (3)%
Dawson 145,200 263,300 320,500 357,700 193,400 (45)% (25)% 408,500 307,900 33%
Jellinbah 36,300 11,200 26,100 25,800 30,500 224% 19% 47,500 59,200 (20)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
Total Australia production 6,088,700 4,494,700 6,074,700 5,837,400 5,551,800 35% 10% 10,583,400 11,299,700 (6)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
Thermal (South Africa)(2)
Goedehoop 1,678,500 1,457,700 1,590,700 1,527,000 1,185,900 15% 42% 3,136,100 2,323,900 35%
Greenside 1,186,700 993,300 1,202,300 1,264,300 941,500 19% 26% 2,180,000 1,985,100 10%
Zibulo 1,394,600 1,319,600 1,681,500 1,468,700 1,553,500 6% (10)% 2,714,100 3,226,600 (16)%
Khwezela 1,463,300 1,333,800 1,522,000 1,468,800 1,297,200 10% 13% 2,797,100 2,541,200 10%
Mafube 443,900 431,800 464,200 402,700 172,100 3% 158% 875,700 277,700 215%
Other(3) - - - 604,100 1,076,700 n/a (100)% - 1,076,700 (100)%
Eskom-tied operations(4) - - - - - n/a n/a - 2,825,500 (100)%
Isibonelo 1,031,600 1,171,000 1,368,900 968,500 993,000 (12)% 4% 2,202,700 2,260,500 (3)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
Total South Africa
production 7,198,600 6,707,200 7,829,600 7,704,100 7,219,900 7% 0% 13,905,700 16,517,200 (16)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
Colombia (Cerrejón)(5) 2,016,900 2,199,300 2,356,500 2,657,600 2,761,500 (8)% (27)% 4,216,200 5,205,800 (19)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
Total Coal production 15,304,200 13,401,200 16,260,800 16,199,100 15,533,200 14% (1)% 28,705,300 33,022,700 (13)%
--------------------------- ---------- ---------- ---------- ---------- ----------- ------------ -------- ----------- ----------- --------
(1) Anglo American's attributable share of production.
(2) Export and domestic production; the Eskom-tied operations
and Isibonelo produce exclusively domestic volumes.
(3) Other production comes from the recovery of saleable product from mineral residue deposits.
(4) The sale of the Eskom-tied operations was completed on 1 March 2018.
(5) Anglo American's attributable share of Cerrejón production is 33.3%.
NICKEL
Nickel (tonnes) Q2 Q2 Q2 2019 Q1 Q2 2019 vs. H1 2019 H1 2018 H1 2019
2019 2018 vs. 2019 Q1 2019 vs.
Q2 2018 H1 2018
----- ------ -------- ----- ------------ -------- --------
Nickel 9,800 10,800 (9)% 9,800 0% 19,600 19,400 1%
---------------- ----- ------ -------- ----- ------------ -------- -------- --------
Nickel production decreased by 9% due to the timing of annual
planned maintenance.
Full Year Guidance
Production guidance is unchanged at 42,000-44,000 tonnes.
Nickel(1) Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q2 2019 H1 2019 H1 2018 H1 2019
2019 2019 2018 2018 2018 Q1 2019 vs. vs.
Q2 2018 H1 2018
--------- ------- ------- --------- ------------ ------------ -------- ---------- ------------
Barro Alto
Ore mined 1,365,400 888,000 816,500 1,640,400 1,208,800 54% 13% 2,253,400 2,210,300 2%
Ore
processed 519,000 525,400 607,300 620,900 588,200 (1)% (12)% 1,044,500 1,035,900 1%
Ore grade
processed
- %Ni 1.67 1.67 1.74 1.73 1.67 0% 0% 1.67 1.67 0%
Production 7,600 7,700 9,100 9,400 8,600 (1)% (12)% 15,200 15,100 1%
------------ --------- ------- ------- --------- ------------ ------------ -------- ---------- ------------ --------
Codemin
Ore mined 39,000 - 8,400 - - 100% 100% 39,000 - 100%
Ore
processed 148,900 139,900 150,600 139,100 150,600 6% (1)% 288,800 291,800 (1)%
Ore grade
processed
- %Ni 1.62 1.62 1.68 1.69 1.62 0% 0% 1.62 1.64 (1)%
Production 2,300 2,100 2,300 2,100 2,200 10% 5% 4,400 4,300 2%
------------ --------- ------- ------- --------- ------------ ------------ -------- ---------- ------------ --------
Total Nickel
segment
nickel
production 9,800 9,800 11,400 11,500 10,800 - (9)% 19,600 19,400 1%
------------ --------- ------- ------- --------- ------------ ------------ -------- ---------- ------------ --------
Sales
volumes 8,800 9,800 12,600 10,400 10,800 (10)% (19)% 18,600 20,100 (7)%
------------ --------- ------- ------- --------- ------------ ------------ -------- ---------- ------------ --------
(1) Excludes nickel production from the PGMs business unit.
MANGANESE
Manganese (000 t) Q2 Q2 Q2 2019 Q1 2019 Q2 2019 vs. H1 2019 H1 2018 H1 2019
2019 2018 vs. Q1 2019 vs.
Q2 2018 H1 2018
----- ----- -------- -------- ------------ -------- --------
Manganese ore(1) 826 866 (5)% 874 (5)% 1,700 1,747 (3)%
Manganese alloys(1)(2) 41 43 (4)% 35 17% 76 84 (9)%
----------------------- ----- ----- -------- -------- ------------ -------- -------- --------
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
Manganese ore production decreased by 5% to 826,100 tonnes.
Manganese alloy production decreased by 4% to 41,200 tonnes.
Manganese (tonnes) Q2 Q1 Q4 Q3 Q2 Q2 2019 vs. Q2 2019 H1 2019 H1 2018 H1 2019
2019 2019 2018 2018 2018 Q1 2019 vs. vs.
Q2 2018 H1 2018
------- ------- ------- -------- ------- ------------ -------- ---------- ----------
Samancor
Manganese ore(1) 826,100 874,000 971,900 887,600 866,200 (5)% (5)% 1,700,100 1,747,000 (3)%
Manganese
alloys(1)(2) 41,200 35,200 38,000 34,800 42,800 17% (4)% 76,400 84,000 (9)%
------------------- ------- ------- ------- -------- ------- ------------ -------- ---------- ---------- --------
Samancor sales
volumes
Manganese ore 958,400 843,400 959,800 840,400 910,100 14% 5% 1,801,800 1,734,300 (4)%
Manganese alloys 44,800 30,100 44,000 30,400 48,400 49% (7)% 75,000 86,700 (13)%
------------------- ------- ------- ------- -------- ------- ------------ -------- ---------- ---------- --------
(1) Saleable production.
(2) Production includes medium carbon ferro-manganese.
EXPLORATION AND EVALUATION
Exploration and evaluation expenditure was unchanged at $70
million. Exploration expenditure increased by 15% to $31 million
driven by increased spend in De Beers and Metallurgical Coal.
Evaluation expenditure decreased by 13% to $39 million driven by
reduced spend in PGMs and Diamonds.
CORPORATE ACTIVITY AND OTHER ITEMS
As previously reported, the Copper business gave notice to
terminate a long-term power supply contract. This resulted in a
one-off negative impact of $179 million in special items. This is
expected to result in improved cost performance in the medium and
long term and support a transition to renewable sources of
power.
REALISED PRICES SUMMARY
Average realised prices H1 2019 H2 2018 H1 2018 FY 2018 H1 2019 H1 2019
vs. vs.
H1 2018 H2 2018
De Beers
Total sales volumes
(100)% (Mct)(1) 16.5 14.9 18.8 33.7 (12)% 11%
Consolidated sales
volumes
(Mct)(1) 15.5 13.9 17.8 31.7 (13)% 12%
Consolidated average
realised price ($/ct)(2) 151 182 162 171 (7)% (17)%
Average price index(3) 118 122 123 123 (4)% (3)%
PGMs
Platinum (US$/oz) 831 816 932 871 (11)% 2%
Palladium (US$/oz) 1,400 1,051 1,005 1,029 39% 33%
Rhodium (US$/oz) 2,840 2,429 1,938 2,204 47% 17%
Basket price (US$/Pt
oz) 2,685 2,135 2,318 2,219 16% 26%
Copper (USc/lb)(4) 280 268 297 283 (6)% 4%
Iron Ore - FOB prices
Kumba Export (US$/dmt)(5) 108 76 69 72 57% 42%
Minas-Rio (US$/wmt)(6) 92 - 70 70 31% n/a
Coal
Australia
Metallurgical - HCC
(US$/t)(7) 195 191 198 194 (2)% 2%
Metallurgical - PCI
(US$/t)(7) 123 128 129 128 (5)% (4)%
Thermal - Export (US$/t) 88 105 99 103 (11)% (16)%
South Africa
Thermal - Export (US$/t)(8) 64 87 88 87 (27)% (26)%
Thermal - Domestic
(US$/t, FOR)(9) 15 18 20 19 (25)% (17)%
Colombia
Thermal - Export (US$/t) 62 87 79 83 (22)% (29)%
Nickel (USc/lb) 563 541 632 588 (11)% 4%
----------------------------- ------- ------- ------- ------- -------- --------
(1) Consolidated sales volumes exclude De Beers' JV partners'
50% proportionate share of sales to entities outside De Beers from
the Diamond Trading Company Botswana and the Namibia Diamond
Trading Company, which are included in total sales volume (100%
basis).
(2) Consolidated average realised price based on 100% selling
value post-aggregation.
(3) Average of the De Beers price index for the Sights within
the six-month period. The De Beers price index is relative to 100
as at December 2006.
(4) The realised price for Copper excludes third party sales
volumes.
(5) Average realised export basket price (FOB Saldanha).
(6) Average realised export basket price (FOB Açu) (wet
basis).
(7) Weighted average metallurgical coal sales price
achieved.
(8) Weighted average export thermal coal price achieved.
Excludes third party sales.
(9) Weighted average domestic thermal coal price achieved on all
domestic thermal coal sales.
NOTES
-- This Production Report for the quarter ended 30 June 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 commodity'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 15 for information on forward-looking statements.
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:
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statements other than statements of historical facts included in
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Anglo American's financial position, business, acquisition and
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levels of actual production during any period, levels of global
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in light of such risk factors and undue reliance should not be
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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
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are the custodians of what are precious natural resources. We work
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and for society as a whole. Anglo American is re-imagining mining
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