Anglo American Q3 2016 Production Report

RNS Number : 3364N
Anglo American PLC
25 October 2016
 

 

 

 

 

 

NEWS RELEASE

 

25 October 2016

 

Anglo American plc

Production Report for the third quarter ended 30 September 2016

 

Click on, or paste the following link into your web browser, to view the associated PDF document

 

http://www.rns-pdf.londonstockexchange.com/rns/3364N_-2016-10-24.pdf

 

 

Overview

 

 

Q3 2016

Q3 2015

% vs. Q3 2015

YTD 2016

YTD 2015

% vs. YTD 2015

Diamonds (Mct)(1)

6.3

6.0

4%

19.6

21.6

(9)%

Platinum (produced ounces) (koz)(2)

619

614

1%

1,772

1,739

2%

Copper retained operations (t)(3)(4)(5)

139,800

153,100

(9)%

430,500

456,600

(6)%

Nickel (t)(6)

11,300

6,800

66%

33,600

19,800

70%

Iron ore - Kumba (Mt)

11.8

11.4

3%

29.5

33.9

(13)%

Iron ore - Minas-Rio (Mt)(7)

4.5

2.9

53%

11.3

5.9

91%

Export metallurgical coal (Mt)

5.5

5.5

1%

15.5

15.7

(1)%

Export thermal coal (Mt)(8)

8.8

8.8

0%

24.5

26.1

(6)%

 

 

Mark Cutifani, Anglo American Chief Executive, said "Operational improvements continue across the portfolio, delivering a 4% production increase on a copper equivalent basis(9) in the third quarter, and a 12% increase compared to Q2 2016. The latter increase is largely due to the strong recovery at Kumba's Sishen mine, a 46% production increase, following the successful completion of its restructuring. In our diamond and platinum businesses we continue to maintain discipline on volumes by mining to demand, whilst the ramp-ups at Minas-Rio and Grosvenor are progressing well, and Barro Alto has now reached nameplate capacity.  The modestly higher production at De Beers is reflective of improved market conditions relative to Q3 2015, but we maintain a cautious outlook."

 

·      Diamond production increased by 4% to 6.3 million carats compared with Q3 2015 when production was reduced in response to the prevailing trading conditions.

·      Platinum production (expressed as metal in concentrate)(2) was broadly unchanged, increasing by 1% to 619,000 ounces. Refined platinum production increased by 14% to 694,700 ounces, following recovery at the Precious Metals Refinery.

·      Copper production from the retained operations decreased by 9% to 139,800 tonnes.  Expected lower grades at Los Bronces and the impact of strikes at Los Bronces and El Soldado, were partly offset by strong plant performance and higher grades at Collahuasi.

·      Nickel production increased by 66% to 11,300 tonnes following the successful completion of the Barro Alto furnace rebuilds in 2015.

·      Iron ore production from Kumba increased by 3% (33% vs. Q2 2016) to 11.8 million tonnes due to productivity improvements at Sishen following its restructuring.

·      Iron ore production from Minas-Rio increased by 53% to 4.5 million tonnes (wet basis) as the operation continues to ramp-up.

·      Export metallurgical coal production was broadly unchanged, increasing by 1% to 5.5 million tonnes due to the ramp-up at Grosvenor and a longwall move at Moranbah in Q3 2015, offsetting geological issues at Grasstree and the sale of Foxleigh, which completed on 30 August 2016.

·      Export thermal coal production remained flat at 8.8 million tonnes. An increase in production at Cerrejón was offset by a ramp-down at Drayton where mining activities will cease in Q4 2016.

           (1) De Beers production on 100% basis except the Gahcho Kué joint venture which is on an attributable 51% basis; (2) Reflects own mine production and purchases of metal in concentrate. (3) Copper production from the Copper business unit; (4) Copper production shown on a contained metal basis; (5) 2015 Copper production normalised for the sale of Anglo American Norte; (6) Nickel production from the Nickel business unit; (7) Wet basis; (8) Export thermal coal includes production from Australia, South Africa and Colombia; (9) Copper equivalent production is normalised for the sale of Anglo American Norte and the Kimberley mine, and to reflect Snap Lake being placed on care and maintenance..

 

 

DE BEERS

 

Diamonds(1)

 

Q3

2016

Q3

2015

Q3 2016

vs.

Q3 2015

Q2

2016

Q3 2016

vs.

Q2 2016

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Debswana

000 carats

4,549

4,074

12%

5,184

(12)%

15,061

15,619

(4)%

Namdeb Holdings

000 carats

405

466

(13)%

296

37%

1,145

1,359

(16)%

DBCM

000 carats

1,094

1,036

6%

821

33%

2,847

3,214

(11)%

De Beers Canada

000 carats

225

436

(48)%

147

53%

534

1,448

(63)%

Total carats recovered

000 carats

6,273

6,012

4%

6,448

(3)%

19,587

21,640

(9)%

(1) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.

 

De Beers -Diamond production increased by 4% to 6.3 million carats compared with Q3 2015 when production was reduced in response to the prevailing trading conditions.

 

At Debswana (Botswana), production increased by 12% to 4.5 million carats with production at Jwaneng increasing by 47% as a result of planned maintenance in Q3 2015 being prioritised in light of trading conditions. This was partly offset by a planned 22% decrease at Orapa to align aggregate production to trading conditions.

 

Production at DBCM (South Africa) increased by 6% to 1.1 million carats largely as a result of processing higher grades at Venetia and increased throughput at Voorspoed. This was partly offset by the early completion of the sale of Kimberley Mines in January 2016.

 

Production at Namdeb Holdings (Namibia) decreased by 13% to 0.4 million carats with lower grades at Namdeb Land, and the Debmar Pacific vessel being in port for planned maintenance in Q3 2016 at Debmarine Namibia.

 

Production in Canada decreased by 48% to 0.2 million carats due to Snap Lake being placed on care and maintenance in December 2015. This was partially offset by first production at Gahcho Kué. Gahcho Kué was officially opened on 20 September 2016 and ramp-up is progressing well.

 

Consolidated rough diamond sales in Q3 2016 increased by 77% to 5.3 million carats. This increase reflected improved trading conditions from those experienced in Q3 2015, when higher pipeline stock impacted midstream demand.

 

Full Year Guidance

Full year production guidance remains unchanged at 26-28 million carats, subject to trading conditions.

 

 

 

PLATINUM

 

Platinum

 

Q3

2016

Q3

2015

Q3 2016

vs.

Q3 2015

Q2

2016

Q3 2016

vs.

Q2 2016

YTD

2016

YTD

2015

YTD 2016 vs.  

YTD 2015

Produced ounces(1)

 

 

 

 

 

 

 

 

 

Platinum

000 oz

619

614

1%

586

6%

1,772

1,739

2%

Refined

 

 

 

 

 

 

 

 

 

Platinum

000 oz

695

611

14%

748

(7)%

1,703

1,714

(1)%

Palladium

000 oz

413

391

6%

472

(13)%

1,067

1,127

(5)%

Rhodium

000 oz

87

78

12%

91

(4)%

225

220

3%

Copper - Refined

t

3,800

4,200

(10)%

3,700

3%

10,800

12,100

(11)%

Copper - Matte(2)

t

0

0

0%

0

0%

0

300

(100)%

Nickel - Refined

t

7,100

6,400

11%

6,400

11%

19,200

18,100

6%

Nickel - Matte(2)

t

0

0

0%

0

0%

0

400

(100)%

Gold

000 oz

24

23

5%

22

8%

74

84

(11)%

 

(1)  Reflects own mine production and purchases of metal in concentrate. 

(2)  Copper and nickel refined through third parties is shown as production of copper matte and nickel matte.

 

 

Platinum - Production (metal in concentrate) was broadly unchanged, increasing by 1% to 619,100 ounces.

 

Mogalakwena production increased by 12% to 100,700 ounces. This was driven by a 19% increase in tonnes milled due to increased plant efficiencies and throughput, though Q3 2015 was impacted by community disruption. The increase is partially offset by a return to normalised grades of 2.92g/t, with normalised grades ranging between 2.8g/t to 3.0g/t.

 

Amandelbult production was broadly unchanged, increasing by 1% to 128,300 ounces.

 

Unki production increased by 16% to 18,200 ounces. Improved underground mining efficiencies resulted in a 5% increase in tonnes milled, complemented by a 9% increase in grade.

 

Independently managed production (mined and purchased, but excluding third party purchase of concentrate) was broadly unchanged, decreasing by 1% to 207,100 ounces, driven primarily by Bokoni due to the closure of two shafts in Q4 2015. This was offset by strong performance at Modikwa, Kroondal and BRPM.

 

Production from Rustenburg operations including the Western Limb Tailings Retreatment decreased by 3% to 120,900 ounces. Production was impacted by two fatalities in Q3 2016.

 

Following the restructuring at Union, the mine continued to perform in line with its optimised mine plan, maintaining production at 37,700 ounces, despite a reduction in labour.

 

Refined platinum production increased by 14% to 694,600 ounces as a result of processing additional matte material that had built-up after a Section 54 safety stoppage in Q1 2016 at the Precious Metals Refinery.

 

As announced by Anglo American Platinum on 13 September 2016, following the run-out Platinum's Waterval Smelter on 10 September 2016, the furnace rebuild has been brought forward from the planned date in 2018, and will proceed in Q4 2016. This has impacted Q3 2016 refined production by c.6,000 ounces and is now estimated to impact full year refined production by c.75,000 (previously 70,000-100,000) ounces. The furnace rebuild will result in a build-up of concentrate ahead of being smelted, however this will be processed in full by the end of 2017. Mining and concentrating activities are unaffected, therefore there is no change to the full year production guidance.

 

 

Full Year Guidance

Full year production guidance (metal in concentrate) remains unchanged at between 2.3-2.4 million ounces.

 

 

COPPER

 

Copper(1)

 

Q3 2016

Q3 2015

Q3 2016 vs.

Q3 2015

Q2 2016

Q3 2016 vs.

Q2 2016

YTD 2016

YTD 2015

YTD 2016 vs. YTD 2015

Collahuasi (44% share)

t

57,000

43,500

31%

56,200

1%

164,300

138,800

18%

Los Bronces mine

t

72,100

98,600

(27)%

75,600

(5)%

232,900

290,700

(20)%

Copper retained operations(2)

t

139,800

153,100

(9)%

144,200

(3)%

430,500

456,600

(6)%

Total attributable copper production

t

139,800

171,100

(18)%

144,200

(3)%

430,500

527,400

(18)%

 

(1)  Copper production shown on a contained metal basis

(2)  Anglo American Norte excluded for all periods

 

Copper - Copper production from the retained operations (excluding AA Norte assets sold effective

1 September 2015) decreased by 9% to 139,800 tonnes and by 3% compared to Q2 2016.

 

Production from Los Bronces decreased by 27% to 72,100 tonnes due to expected lower grades (0.65% vs 0.87%) mainly as a consequence of lower mine development in higher grade areas in H1 following severe weather, as previously reported. In addition, operations were disrupted by a seven day strike in September (c.7kt impact on production).

 

At Collahuasi, attributable production increased by 31% to 57,000 tonnes due to higher grades (1.23% vs. 1.09%) and continued strong plant performance. Significant maintenance to the SAG lines also took place in Q3 2015.

 

El Soldado production decreased by 3% to 10,700 tonnes due largely to the impact of a 13-day strike that took place in July (c.4kt impact on production).

 

Full Year Guidance

Full year guidance for 2016 remains at 570,000 - 600,000 tonnes.

 

 

 

NICKEL

 

 

Nickel

 

 

Q3

2016

 

Q3

2015

Q3 2016 vs.

Q3 2015

 

Q2

2016

Q3 2016 vs.

Q2 2016

 

YTD

2016

 

YTD

2015

YTD 2016 vs.

YTD 2015

Nickel

t

11,300

6,800

66%

11,100

2%

33,600

19,800

70%

 

Nickel - Nickel production increased by 66% to 11,300 tonnes following the successful rebuild of both Barro Alto furnaces, which are now producing at nameplate capacity. Production from Codemin increased by 10% to 2,300 tonnes.

 

Full Year Guidance

Full year production guidance remains unchanged at 45,000 - 47,000 tonnes.

 

 

 

NIOBIUM

 

 

Niobium

 

 

Q3

2016

 

Q3

2015

Q3 2016 vs.

Q3 2015

 

Q2

2016

Q3 2016 vs.

Q2 2016

 

YTD

2016

 

YTD

2015

YTD 2016 vs.

YTD 2015

Niobium

t

2,100

1,800

17%

1,200

75%

4,700

4,700

0%

 

Niobium - Niobium production increased by 17% to 2,100 tonnes reflecting the continued ramp-up of the BVFR plant, with record production achieved in July.

 

The sale of the Niobium and Phosphates businesses completed as at the end of 30 September 2016.

 

 

 

 

 

PHOSPHATES

 

 

Phosphates

 

 

Q3

2016

 

Q3

2015

Q3 2016 vs.

Q3 2015

 

Q2

2016

Q3 2016 vs.

Q2 2016

 

YTD

2016

 

YTD

2015

YTD 2016 vs.

YTD 2015

Phosphates

Concentrate

t

342,400

363,100

(6)%

358,000

(4)%

1,033,400

 985,700

  5%

Phosphoric acid

t

80,900

75,600

  7%

73,600

10%

   233,600

 201,200

16%

Fertiliser

t

303,500

294,400

3%

285,900

6%

   864,300

 807,400

7%

Dicalcium phosphate (DCP)

t

40,900

33,700

21%

41,500

(1)%

113,900

  108,600

   5%

                     

 

Phosphates - Production of concentrate, phosphoric acid and fertiliser was largely unchanged. DCP production increased by 21%, driven by improved operational stability and increased phosphoric acid availability (due to both higher production and product mix optimisation).

 

The sale of the Niobium and Phosphates businesses completed as at the end of 30 September 2016.

 

 

IRON ORE AND MANGANESE

 

 

Iron Ore and Manganese

 

Q3

2016

 

Q3

2015

Q3 2016 vs.

Q3 2015

 

Q2

2016

Q3 2016 vs.

Q2 2016

 

YTD

2016

 

YTD

2015

YTD 2016 vs.

YTD 2015

Iron ore - Kumba

000 t

11,760

11,391

3%

8,864

33%

29,548

33,943

(13)%

Iron ore - Minas-Rio(1)

000 t

4,452

2,919

53%

3,484

28%

11,286

5,922

91%

Manganese ore(2)

000 t

762

923

(17)% 

791

(4)%

2,329

2,516

(7)%

Manganese alloys(3)

000 t

39

44

(11)%

30

31%

101

170

(41)%

 

(1)  Wet basis

(2)  Saleable production

(3)  Production includes medium carbon ferro-manganese

 

Kumba Iron Ore - Iron ore production increased by 3% to 11.8 million tonnes.

 

Sishen production increased by 9% (46% against Q2 2016) to 8.3 million tonnes underpinned by higher quality feedstock material and improved plant yields. The restructuring has been completed and the mine successfully transitioned to a 3-shift roster system in September 2016 which is expected to result in further improvements in equipment efficiencies over the medium term. Consistent with the mine's lower cost pit configuration, waste removal decreased to 35 million tonnes compared to 60 million tonnes in Q3 2015. Waste run rates remain in line with the full year guidance.

 

Kolomela production was broadly unchanged at 3.4 million tonnes.

 

Export sales increased by 5% to 10.3 million tonnes reflecting higher production. Total finished product stocks were 3.1 million tonnes, compared with 2.3 million tonnes at 30 June 2016.

 

Full Year Guidance

Full year production guidance for Sishen remains unchanged at ~27 million tonnes and waste volumes of between 135-150 million tonnes.  Kolomela is expected to marginally exceed its full year guided production of ~12 million tonnes, with a commensurate increase in waste, which has previously been guided at 46-48 million tonnes.

 

 

Iron Ore Brazil - Iron ore production from Minas-Rio increased to 4.5 million tonnes (wet basis) during Q3 2016, a 28% increase compared to Q2 2016, as the operation continues its ramp-up.

 

In July 2016, a provisional licence approval was granted and allowed immediate access to the next tranche of reserves, which brought forward an increase in availability and reduction in variability of run-of-mine material, leading to overall improved operational performance in Q3 2016. The final approval of this licence was obtained in October 2016.

 

Full Year guidance

Full year production guidance for Iron Ore Brazil remains unchanged at 15-17 million tonnes (wet basis).

 

Manganese ore - Manganese ore production decreased by 17% from Q3 2015 due to revised production levels in response to market conditions. The mines are now running at the optimised rate following the decision to stop work at the South African Wessels underground mine following a fatality in June 2016.

 

Manganese alloy - Manganese alloy production decreased by 11% as the South African Manganese operations continue to only operate one of its four furnaces due to market conditions.

 

 

COAL

 

 

Coal

 

Q3

2016

Q3

2015

Q3 2016

vs.

Q3 2015

Q2

2016

Q3 2016

vs.

Q2 2016

YTD

2016

YTD

2015

YTD 2016

vs.

YTD 2015

Australia

Metallurgical - Export

000 t

5,507

5,476

1%

5,483

0%

15,516

15,724

(1)%

Thermal - Export

000 t

1,113

1,366

(19)%

1,107

1%

3,286

4,126

(20)%

Thermal - Domestic

000 t

1,682

1,801

(7)%

1,717

(2)%

4,892

5,073

(4)%

South Africa

Thermal - Export

000 t

4,751

4,887

(3)%

4,656

2%

13,383

   13,526

(1)%

Thermal - Domestic (Eskom)

000 t

8,084

6,763

20%

6,709

20%

21,185

20,488

3%

Thermal - Domestic (Non- Eskom)

 

000 t

 

1,856

 

1,730

 

7%

 

1,824

 

2%

 

5,484

 

5,022

 

9%

Colombia

Thermal - Export

000 t

2,928

2,527

16%

2,330

26%

7,867

8,446

(7)%

 

 

Australia - Export metallurgical coal production was broadly unchanged, increasing by 1% to 5.5 million tonnes due to production ramping up at Grosvenor and a Q3 2015 longwall move at Moranbah, offset by the sale of the Foxleigh open cut mine (completed on 30 August 2016) and geological issues at Grasstree ahead of the planned longwall move.

 

Australian export thermal coal production decreased by 19% to 1.1 million tonnes as Drayton continues to ramp down to a full cessation of mining activities in Q4 2016.

 

South Africa - Export thermal coal production decreased by 3% to 4.8 million tonnes. This is primarily due to Landau and Zibulo export production being re-directed into the domestic market for value.

 

Eskom related production increased by 20% due to increased demand from Eskom and increased Eskom production at Kleinkopje.

 

Colombia - Cerrejón's attributable production increased by 16% to 2.9 million tonnes due to improved productivity and favourable weather conditions. 

 

Full Year Guidance

Full year production guidance for export metallurgical coal has been reduced to 20.5-21.5 million tonnes (previously 21-22 million tonnes) due to the completion of the Foxleigh sale on 30 August 2016.

 

Full year production guidance for export thermal coal from South Africa and Colombia remains unchanged at 28-30 million tonnes.

 

 

EXPLORATION AND EVALUATION

 

Exploration and Evaluation expenditure for the quarter totaled $51 million, a decrease of 27%.

Exploration expenditure for the quarter totaled $26 million, a decrease of 19%. 

Evaluation expenditure for the quarter totaled $25 million, a decrease of 34%.

 

NOTE

 

This Production Report for the third quarter ended 30 September 2016 is unaudited.

 

 

 

PRODUCTION SUMMARY

 

The figures below include the entire output of consolidated entities and the Group's attributable share of joint operations, associates and joint ventures where applicable, except for De Beers' joint ventures which are quoted on a 100% basis unless otherwise stated.

 

 

De Beers

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Carats recovered

 

 

 

 

 

 

 

 

 

 

100% basis (unless otherwise stated)

 

 

 

 

 

 

 

 

 

 

Orapa

1,536,000

2,028,000

2,001,000

2,516,000

1,959,000

(24)%

(22)%

5,565,000

7,361,000

(24)%

Letlhakane

176,000

159,000

125,000

73,000

134,000

11%

31%

460,000

433,000

6%

Damtshaa

-

-

-

59,000

45,000

-

(100)%

-

162,000

(100)%

Jwaneng

2,837,000

2,997,000

3,202,000

2,101,000

1,936,000

(5)%

47%

9,036,000

7,663,000

18%

Debswana

4,549,000

5,184,000

5,328,000

4,749,000

4,074,000

(12)%

12%

15,061,000

15,619,000

(4)%

 

 

 

 

 

 

 

 

 

 

Namdeb

120,000

94,000

72,000

119,000

148,000

28%

(19)%

286,000

375,000

(24)%

Debmarine Namibia

285,000

202,000

372,000

286,000

318,000

41%

(10)%

859,000

984,000

(13)%

Namdeb Holdings

405,000

296,000

444,000

405,000

466,000

37%

(13)%

1,145,000

1,359,000

(16)%

 

 

 

 

 

 

 

 

 

 

 

Kimberley

-

-

68,000

242,000

192,000

-

(100)%

68,000

595,000

(89)%

Venetia

898,000

695,000

706,000

1,033,000

712,000

29%

26%

2,299,000

2,099,000

10%

Voorspoed

196,000

126,000

158,000

184,000

132,000

56%

48%

480,000

520,000

(8)%

DBCM

1,094,000

821,000

932,000

1,459,000

1,036,000

33%

6%

2,847,000

3,214,000

(11)%

 

 

 

 

 

 

 

 

 

 

 

Snap Lake

-

-

3,000

280,000

283,000

-

(100)%

3,000

963,000

(100)%

Victor

142,000

147,000

159,000

159,000

153,000

(3)%

(7)%

448,000

485,000

(8)%

Gahcho Kué (51% basis)

83,000

-

-

-

-

-

-

83,000

-

-

De Beers Canada

225,000

147,000

162,000

439,000

436,000

53%

(48)%

534,000

1,448,000

(63)%

Total carats recovered

6,273,000

6,448,000

6,866,000

7,052,000

6,012,000

(3)%

4%

19,587,000

21,640,000

(9)%

Sales volumes (1)

 

 

 

 

 

 

 

 

 

 

Total sales volume - carats (100%) (Mct)

5.7

10.2

8.1

3.6

3.0

(44)%

90%

24.0

17.0

41%

Consolidated sales volume - carats (Mct)

5.3

9.6

7.6

3.6

3.0

(45)%

77%

22.6

16.3

39%

                         

 

 

Platinum

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Refined production

 

 

 

 

 

 

 

 

 

 

    Platinum (troy oz)

694,600

747,600

260,800

744,900

610,900

(7)%

14%

1,703,100

1,713,900

(1)%

Palladium (troy oz)

412,900

472,300

181,600

468,400

390,700

(13)%

6%

1,066,800

1,126,500

(5)%

Rhodium (troy oz)

86,800

90,700

47,700

85,700

77,600

(4)%

12%

225,200

219,500

3%

Copper  refined (tonnes)(2)

3,800

3,700

3,300

4,700

4,200

3%

(10)%

10,800

12,100

(11)%

Copper  matte (tonnes)(2)

-

-

-

-

-

0%

0% 

-

300

(100)%

Nickel refined (tonnes)(2)

7,100

6,400

5,700

7,300

6,400

11%

11%

19,200

18,100

6%

Nickel matte (tonnes)(2)

-

-

-

-

-

0%

0% 

-

400

(100)%

Gold (troy oz)

24,100

22,300

27,900

29,500

23,000

8%

5%

74,300

83,500

(11)%

     Mogalakwena (troy oz)

100,700

98,800

109,000

98,500

89,700

2%

12%

308,500

294,000

5%

     Amandelbult (troy oz)

128,300

106,200

110,900

120,900

127,600

21%

1%

345,400

316,600

9%

     Unki (troy oz)

18,200

17,800

18,600

18,600

15,700

2%

16%

54,600

47,900

14%

     Independently managed (troy oz)

207,100

203,200

185,100

199,100

209,000

2%

(1)%

595,400

569,300

5%

     Rustenburg (troy oz)

120,900

112,300

106,400

117,800

124,000

8%

(3)%

339,500

367,600

(8)%

     Union (troy oz)

37,700

41,200

34,300

38,000

37,700

(8)%

0%

113,200

103,200

10%

     Other(3) (troy oz)

6,200

6,200

2,700

5,100

10,500

0%

(41)%

15,100

40,700

(63)%

Produced ounces

Platinum (troy oz)

619,100

585,700

567,000

598,000

614,300

6%

1%

1,771,700

1,739,300

2%

4E built-up head grade (g/tonne milled)(4)

3.19

3.00

3.11

3.24

3.27

6%

(2)%

3.10

3.23

(4)%

Platinum sales volumes

588,000

808,400

412,800

621,800

690,100

(27)%

(15)%

1,809,200

1,849,500

(2)%

 

 

 

Copper (tonnes) on a contained metal basis unless stated otherwise(5)

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Collahuasi 100% basis (Anglo American share 44%)

 

 

 

 

 

 

 

 

 

 

Ore mined

17,131,800

15,277,400

14,858,200

22,468,800

18,879,300

12%

(9)%

47,267,400

57,104,700

(17)%

Ore processed - Oxide

 -

-

-

-

1,484,900

-

(100)%

 -

4,653,900

(100)%

Ore processed - Sulphide

12,522,100

12,479,200

12,102,800

12,801,300

9,464,800

0%

32%

37,104,100

30,989,300

20%

Ore grade processed - Oxide

(% ASCu)(6)

 -

-

-

-

0.63

-

-

-

0.63

-

Ore grade processed - Sulphide (% TCu)(7)

1.23

1.21

1.15

1.25

1.09

2%

13%

1.20

1.11

8%

Production - Copper cathode

800

1,400

1,900

3,100

6,000

(43)%

(87)%

4,100

19,100

(79)%

Production - Copper in concentrate

128,900

126,300

114,200

136,800

92,800

2%

39%

369,400

296,300

25%

Total copper production for Collahuasi

129,700

127,700

116,100

139,900

98,800

2%

31%

373,500

315,400

18%

Anglo American's share of copper production for Collahuasi(8)

57,000

56,200

51,100

61,500

43,500

1%

31%

164,300

138,800

18%

Anglo American Sur

 

 

 

 

 

 

 

 

 

 

Los Bronces mine(9)

 

 

 

 

 

 

 

 

 

 

Ore mined

13,947,400

13,477,900

10,487,900

13,252,200

10,112,600

3%

38%

37,913,200

37,006,300

2%

Marginal ore mined

6,192,800

6,148,500

13,402,300

11,673,100

7,733,600

1%

(20)%

25,743,600

27,579,500

(7)%

Ore processed - Sulphide

11,511,700

12,567,500

12,055,300

14,115,200

11,584,300

(8)%

(1)%

36,134,500

31,281,700

16%

Ore grade processed - Sulphide (% TCu)

0.65

0.62

0.74

0.83

0.87

5%

(25)%

0.67

0.97

(31)%

Production - Copper cathode

8,800

8,900

9,700

9,700

8,500

(1)%

4%

27,400

25,300

9%

 

Production - Copper in concentrate

63,300

66,700

75,500

101,300

90,100

(5)%

(30)%

205,500

265,400

(23)%

Production total

72,100

75,600

85,200

111,000

98,600

(5)%

(27)%

232,900

290,700

(20)%

El Soldado mine(9)

 

 

 

 

 

 

 

 

 

 

Ore mined

1,678,300

2,143,000

1,448,000

1,280,000

951,600

(22)%

76%

5,269,300

3,928,100

34%

Ore processed - Sulphide

1,553,200

1,741,200

1,836,100

1,557,500

1,441,800

(11)%

8%

5,130,500

4,407,900

16%

Ore grade processed - Sulphide (% TCu)

0.86

0.89

0.75

0.79

0.90

(3)%

(4)%

0.83

0.76

9%

Production - Copper cathode

 -

-

-

-

-

-

-

 -

200

(100)%

Production - Copper in concentrate

10,700

12,400

10,200

8,900

11,000

(14)%

(3)%

33,300

26,900

23%

Production total

10,700

12,400

10,200

8,900

11,000

(14)%

(3)%

33,300

27,100

22%

Chagres Smelter(9)

 

 

 

 

 

 

 

 

 

 

Ore smelted

35,500

36,500

35,900

35,900

39,900

(3)%

(11)%

107,900

113,200

(5)%

Production

34,700

35,500

35,200

34,900

38,900

(2)%

(11)%

105,400

110,200

(4)%

Total copper production for Anglo American Sur

82,800

88,000

95,400

119,900

109,600

(6)%

(24)%

266,200

317,800

(16)%

Anglo American Norte

 

 

 

 

 

 

 

 

 

 

Mantos Blancos mine

 

 

 

 

 

 

 

 

 

 

Ore processed  - Sulphide

-

-

-

-

718,400

-

(100)%

-

2,835,500

(100)%

Ore grade processed - Sulphide (% TCu)

-

-

-

-

0.75

-

-

-

0.76

-

Production - Copper cathode

-

-

-

-

5,000

-

(100)%

-

20,400

(100)%

Production - Copper in concentrate

-

-

-

-

4,500

-

(100)%

-

18,100

(100)%

Production total

-

-

-

-

9,500

-

(100)%

-

38,500

(100)%

Mantoverde mine

 

 

 

 

 

 

 

 

 

 

Ore processed - Oxide

-

-

-

-

1,838,000

-

(100)%

-

6,605,300

(100)%

Ore processed - Marginal ore

-

-

-

-

1,658,000

-

(100)%

-

5,944,800

(100)%

Ore grade processed - Oxide (% ASCu)

-

-

-

-

0.51

-

-

-

0.52

-

Ore grade processed - Marginal ore (% ASCu)

-

-

-

-

0.20

-

-

-

0.21

-

Production - Copper cathode

-

-

-

-

8,500

-

(100)%

-

32,300

(100)%

Total copper production for Anglo American Norte

-

-

-

-

18,000

-

(100)%

-

70,800

(100)%

Total Copper segment copper production

212,500

215,700

211,500

259,800

226,400

(1)%

(6)%

639,700

704,000

(9)%

Total Attributable copper production(10)

139,800

144,200

146,500

181,400

171,100

(3)%

(18)%

430,500

527,400

(18)%

Total Attributable payable copper production

135,000

139,200

141,600

175,300

165,800

(3)%

(19)%

415,800

511,600

(19)%

Total Attributable sales volumes

135,400

143,500

137,500

183,000

178,400

(6)%

(24)%

416,400

522,600

(20)%

Total Attributable payable sales volumes

130,700

138,500

133,000

176,700

172,900

(6)%

(24)%

402,200

506,800

(21)%

Third party sales(11)

26,000

6,700

9,200

41,400

-

288%

100%

41,900

-

100%

 

 

 

 

Nickel (tonnes)

unless stated otherwise(12)

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Barro Alto

 

 

 

 

 

 

 

 

 

 

Ore mined

974,100

835,300

457,000

453,200

1,351,700

17%

(28)%

2,266,400

2,490,400

(9)%

Ore processed

610,000

569,200

598,100

566,400

330,700

7%

84%

1,777,300

906,400

96%

Ore grade processed - % Ni

1.76

1.76

1.77

1.77

1.79

0%

(1)%

1.76

1.79

(2)%

Production

9,000

8,800

8,900

8,100

4,700

2%

91%

26,700

13,100

104%

Codemin

 

 

 

 

 

 

 

 

 

 

Ore mined

-

7,600

-

-

-

n.m.

n.m

7,600

8,600

(12)%

Ore processed

144,000

151,300

151,400

   154,000

140,000

(5)%

3%

446,700

437,100

2%

Ore grade processed - % Ni

1.72

1.72

1.68

1.69

1.70

0%

1%

1.70

1.69

1%

Production

2,300

2,300

2,300

2,400

2,100

0%

10%

6,900

6,700

3%

Total Nickel segment nickel production

11,300

11,100

11,200

10,500

6,800

2%

66%

33,600

19,800

70%

Sales volumes

11,600

11,100

10,800

9,500

6,400

5%

81%

33,500

22,500

49%

 

 

 

Niobium

(tonnes) unless stated

otherwise

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Niobium

 

 

 

 

 

 

 

 

 

 

Ore mined

877,800

661,000

690,300

637,700

597,300

33%

47%

2,229,100

1,494,000

49%

Ore processed

594,700

601,100

484,800

580,700

578,400

(1)%

3%

1,680,600

1,650,600

2%

Ore grade processed - %Nb

1.06

0.95

0.91

1.00

0.93

12%

14%

0.98

0.94

4%

Production

2,100

1,200

1,400

1,600

1,800

75%

17%

4,700

4,700

0%

Sales volumes

1,600

1,900

1,100

800

1,400

(16)%

14%

4,600

4,300

7%

 

 

Phosphates

(tonnes) unless stated

otherwise

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

 Phosphates

 

 

 

 

 

 

 

 

 

 

Concentrate

342,400

358,000

333,100

355,700

363,100

(4)%

(6)%

1,033,400

985,700

5%

Concentrate grade - %P2O5

37.1

37.1

36.6

36.7

36.8

0%

1%

36.9

36.8

0%

Phosphoric acid

80,900

73,600

79,100

63,900

75,600

10%

7%

233,600

201,200

16%

Fertiliser

303,500

285,900

274,900

303,400

294,400

6%

3%

864,300

807,400

7%

High analysis fertiliser

56,200

53,600

47,800

36,700

42,400

5%

33%

157,600

136,000

16%

Low analysis fertiliser

247,300

232,300

227,100

266,700

252,000

6%

(2)%

706,700

671,300

5%

Dicalcium phosphate (DCP)

40,900

41,500

31,500

38,700

33,700

(1)%

21%

113,900

108,600

5%

Fertiliser sales volumes

363,100

362,300

247,300

194,400

339,600

0%

7%

972,700

865,600

12%

 

 

 

 

Iron Ore and Manganese (tonnes)

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Kumba Iron Ore

 

 

 

 

 

 

 

 

 

Lump

7,598,500

5,721,300

5,669,700

7,029,100

7,322,300

33%

4%

18,989,600

21,974,100

(14)%

Fines

4,161,400

3,142,300

3,254,800

3,906,100

4,068,600

32%

2%

10,558,500

11,968,900

(12)%

Total Kumba production

11,759,900

8,863,600

8,924,500

10,935,200

11,390,900

33%

3%

29,548,100

33,943,000

(13)%

Sishen

8,348,700

5,699,600

5,841,800

7,661,300

7,669,800

46%

9%

19,890,100

23,731,600

(16)%

Kolomela

3,411,200

3,164,000

2,713,100

2,853,800

3,347,800

8%

2%

9,288,300

9,200,600

1%

Thabazimbi

-

-

369,600

420,100

373,300

0%

(100)%

369,600

1,010,800

(63)%

Total Kumba production

11,759,900

8,863,600

8,924,500

10,935,200

11,390,900

33%

3%

29,548,000

33,943,000

(13)%

Kumba sales volumes

 

 

 

 

 

 

 

 

 

 

RSA export iron ore

10,343,200

8,729,700

9,376,100

10,509,300

9,846,500

18%

5%

28,449,000

33,050,700

(14)%

RSA domestic iron ore

706,900

936,000

1,167,700

533,500

960,700

(24)%

(26)%

2,809,600

3,743,300

(25)%

Minas-Rio production

 

 

 

 

 

 

 

 

 

 

Pellet feed (wet basis)

4,452,400

3,483,800

3,349,400

3,252,500

2,918,800

28%

53%

11,285,600

5,921,700

91%

Minas-Rio sales volumes

 

 

 

 

 

 

 

 

 

 

Export - pellet feed (wet basis)

4,510,400

3,223,900

3,714,400

3,035,000

2,793,900

40%

61%

11,448,700

5,432,600

111%

Samancor

 

 

 

 

 

 

 

 

 

 

Manganese ore(13)

761,700

791,300

775,900

596,000

923,200

(4)%

(17)%

2,328,900

2,515,600

(7)%

Manganese alloys(13)(14)

38,900

29,700

32,100

43,500

43,700

31%

(11)%

100,700

170,100

(41)%

Samancor sales volumes

 

 

 

 

 

 

 

 

 

 

Manganese ore

761,800

833,500

870,900

720,200

813,900

(9)%

(6)%

2,466,200

2,364,500

4%

Manganese alloys

49,200

46,400

42,800

42,000

42,400

6%

16%

138,400

178,800

(23)%

 

 

 

 

 

Coal (tonnes)

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

Australia

 

 

 

 

 

 

 

 

 

 

Metallurgical - Export Coking

4,326,600

3,997,500

3,378,900

4,302,100

4,115,000

8%

5%

11,703,000

11,605,700

1%

Metallurgical - Export PCI

1,180,000

1,485,800

1,147,200

1,182,200

1,360,500

(21)%

(13)%

3,813,000

4,118,000

(7)%

 

5,506,600

5,483,300

4,526,100

5,484,300

5,475,500

0%

1%

15,516,000

15,723,800

(1)%

Thermal - Export

1,112,700

1,107,000

1,065,900

1,154,300

1,366,400

1%

(19)%

3,285,600

4,126,200

(20)%

Thermal - Domestic

1,682,000

1,716,700

1,492,900

1,978,800

1,800,500

(2)%

(7)%

4,891,600

5,072,800

(4)%

 

2,794,700

2,823,700

2,558,800

3,133,100

3,166,900

(1)%

(12)%

8,177,200

9,199,000

(11)%

South Africa

 

 

 

 

 

 

 

 

 

 

Thermal - Export

4,750,900

4,655,800

3,976,000

3,878,000

4,887,200

2%

(3)%

13,382,700

13,525,600

(1)%

Thermal - Domestic (Eskom)

8,083,900

6,708,700

6,392,000

5,533,500

6,763,000

20%

20%

21,184,600

20,487,700

3%

Thermal - Domestic

(Non-Eskom)

1,855,900

1,824,300

1,803,800

1,821,500

1,730,400

2%

7%

5,484,000

5,022,400

9%

 

14,690,700

13,188,800

12,171,800

11,233,000

13,380,600

11%

10%

40,051,300

39,035,700

3%

Colombia

 

 

 

 

 

 

 

 

 

 

Thermal - Export

2,927,800

2,329,500

2,610,000

2,628,100

2,526,800

26%

16%

7,867,300

8,446,200

(7)%

Total Metallurgical coal production

5,506,600

5,483,300

4,526,100

5,484,300

5,475,500

0%

1%

15,516,000

15,723,800

(1)%

Total Export Thermal coal production

8,791,400

8,092,300

7,651,900

7,660,400

8,780,400

9%

0%

24,535,600

26,098,000

(6)%

Total Domestic Thermal coal production

11,621,800

10,249,700

9,688,700

9,333,800

10,293,900

13%

13%

31,560,200

30,582,900

3%

Total Coal production

25,919,800

23,825,300

21,866,700

22,478,500

24,549,800

9%

6%

71,611,800

72,404,700

(1)%

Sales volumes (own mined)

 

 

 

 

 

 

 

 

 

 

Australia

 

 

 

 

 

 

 

 

 

 

Metallurgical - Export(15)

5,512,700

5,403,200

4,815,800

5,396,000

5,480,900

2%

1%

15,731,700

15,697,400

0%

Thermal - Export

1,123,100

1,151,900

1,173,000

1,341,700

1,638,600

(3)%

(31)%

3,448,000

4,562,500

(24)%

Thermal - Domestic

1,604,000

1,653,400

1,506,800

1,915,800

1,871,900

(3)%

(14)%

4,764,200

5,133,400

(7)%

South Africa

 

 

 

 

 

 

 

 

 

 

Thermal - Export

4,159,300

4,744,000

4,343,200

5,188,700

4,568,600

(12)%

(9)%

13,246,500

 14,731,100

(10)%

Thermal - Domestic

9,522,400

8,187,200

7,828,600

6,763,300

7,977,800

16%

19%

25,538,200

 24,928,300

2%

Colombia

 

 

 

 

 

 

 

 

 

 

    Thermal - Export

2,905,100

2,843,800

2,339,000

2,565,100

2,853,400

2%

2%

8,087,900

8,624,200

(6)%

 

 

Coal by mine (tonnes)

Q3 2016

Q2 2016

Q1 2016

Q4 2015

Q3 2015

Q3 2016

vs.

Q2 2016

Q3 2016

vs.

Q3 2015

YTD

2016

YTD

2015

YTD 2016 vs.

YTD 2015

 

Australia

 

 

 

 

 

 

 

 

 

 

Callide

1,938,900

1,805,300

1,748,200

2,295,200

1,988,900

7%

(3)%

5,492,400

5,635,200

(3)%

Capcoal

(incl. Grasstree)

1,637,300

2,205,400

1,760,000

2,283,800

2,353,300

(26)%

(30)%

5,602,700

6,405,900

(13)%

Dawson

1,185,900

1,143,800

1,006,000

1,025,800

1,249,400

4%

(5)%

3,335,700

3,288,700

1%

Drayton

317,100

418,200

349,900

351,300

600,400

(24)%

(47)%

1,085,200

1,770,700

(39)%

Foxleigh

438,900

566,000

434,500

376,300

494,800

(22)%

(11)%

1,439,400

1,484,300

(3)%

Grosvenor

685,700

331,200

203,000

179,100

147,300

107%

366%

1,219,900

320,700

280%

Jellinbah

820,200

821,600

758,400

872,700

798,400

0%

3%

2,400,200

2,328,700

3%

Moranbah North

1,277,300

1,015,500

824,900

1,233,200

1,009,900

26%

26%

3,117,700

3,688,600

(15)%

 

8,301,300

8,307,000

7,084,900

8,617,400

8,642,400

0%

(4)%

23,693,200

24,922,800

(5)%

South Africa

 

 

 

 

 

 

 

 

 

 

Goedehoop

1,286,500

1,266,600

1,001,300

896,000

1,151,200

2%

12%

3,554,400

 3,391,100

5%

Greenside

1,111,400

990,700

806,300

897,200

 1,059,600

12%

5%

2,908,400

 2,979,400

(2)%

Zibulo

1,571,800

1,638,600

1,390,000

1,306,400

 1,592,500

(4)%

(1)%

4,600,400

 4,258,500

8%

Kleinkopje

1,166,800

757,100

966,400

824,900

 895,200

54%

30%

2,890,300

 2,327,500

24%

Landau

970,300

1,091,900

1,003,200

1,079,200

 1,144,600

(11)%

(15)%

3,065,400

 3,189,500

(4)%

Mafube

506,000

438,500

379,100

366,500

 370,100

15%

37%

1,323,600

 1,076,000

23%

New Vaal

4,350,500

4,027,700

3,521,800

2,811,500

 3,576,700

8%

22%

11,900,000

11,336,600

5%

New Denmark

777,300

392,600

604,300

643,000

 881,600

98%

(12)%

1,774,200

 2,195,300

(19)%

Kriel

1,834,000

1,503,300

1,339,800

1,185,900

 1,613,000

22%

14%

4,677,100

 4,972,300

(6)%

Isibonelo

1,116,100

1,081,800

1,159,600

1,222,400

 1,096,100

3%

2%

3,357,500

 3,309,500

1%

 

14,690,700

13,188,800

12,171,800

11,233,000

 13,380,600

11%

10%

40,051,300

39,035,700

3%

Colombia

 

 

 

 

 

 

 

 

 

 

Carbones del Cerrejón

2,927,800

2,329,500

2,610,000

2,628,100

2,526,800

26%

16%

7,867,300

8,446,200

(7)%

Total Coal production

25,919,800

23,825,300

21,866,700

22,478,500

24,549,800

9%

6%

71,611,800

72,404,700

(1)%

 

 

(1)         Number of Sights (sales cycles) in each quarter as follows: Q3 2016: 2; Q2 2016: 3; Q1 2016: 2; Q4 2015: 3; Q3 2015: 2; Q2 2015; 2; Q1 2015: 3

(2)         Copper and nickel refined through third parties is shown as production of copper matte and nickel matte

(3)         Includes third party purchases and Twickenham

(4)         4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold

(5)         Excludes Anglo American Platinum's copper production

(6)         ASCu = acid soluble copper

(7)         TCu = total copper

(8)         Anglo American's share of Collahuasi production is 44%

(9)         Anglo American ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur

(10)       Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi

(11)       Relates to sales of copper not produced by Anglo American operations

(12)       Excludes Anglo American Platinum's nickel production

(13)       Saleable production

(14)       Production includes medium carbon ferro-manganese

(15)       Includes both hard coking coal and PCI sales volumes

Note:

 

Production figures are sometimes more precise than the rounded numbers shown in the commentary of this report. The percentage change will reflect the percentage change using the production figures shown in the Production Summary of this report.

 

Forward-looking statements:

 

This contains certain forward looking statements which involve risk and uncertainty because they relate to events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.

 

For further information, please contact:

 

 

Media

 

Investors

UK

James Wyatt-Tilby

james.wyatt-tilby@angloamerican.com

Tel: +44 (0)20 7968 8759

 

Marcelo Esquivel

marcelo.esquivel@angloamerican.com

Tel: +44 (0)20 7968 8891

 

 

UK

Paul Galloway

paul.galloway@angloamerican.com

Tel: +44 (0)20 7968 8718

 

Trevor Dyer

trevor.dyer@angloamerican.com

Tel: +44 (0)20 7968 8992

 

South Africa

Pranill Ramchander

pranill.ramchander@angloamerican.com

Tel: +27 (0)11 638 2592

 

Ann Farndell

ann.farndell@angloamerican.com

Tel: +27 (0)11 638 2786

 

Sheena Jethwa

sheena.jethwa@angloamerican.com

Tel: +44 (0)20 7968 8680

 

 

Notes to editors:

 

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.

 

As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.

 

www.angloamerican.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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