Anglo American Q4 2013 Production Report

RNS Number : 7382Y

Anglo American PLC

29 January 2014

 

29 January 2014

Anglo American plc Production Report for the fourth quarter ended 31 December 2013

Overview

·      Kumba Iron Ore production increased by 25% to 11.3 Mt following the strike in     Q4 2012

·      Export metallurgical coal production increased by 3% to 4.7 Mt due to sustained longwall productivity improvements

·      Export thermal coal production increased by 8% to 7.9 Mt. Export thermal coal production from South Africa decreased by 1% to 4.6 Mt. Cerrejón production increased by 24% to 3.3 Mt, maintaining the strong recovery following the strike in Q1 2013

·       Copper production⁽¹⁾ increased by 24% to a record 214,400 tonnes, driven by continued strong performance at Los Bronces, and higher grades at Collahuasi

·      Nickel⁽²⁾ production increased by 38% to 10,200 tonnes. Higher production at Barro Alto was driven by improved operational stability of the furnaces

·      Niobium production increased by 20% to 1,200 tonnes, reflecting operational improvements at the plants and higher grades

·      Fertiliser production increased 2% due to increased plant availability

·      Platinum equivalent refined production increased by 25% to 520,300 ounces as a result of an increase in production from Mogalakwena, and the normalisation of production at Rustenburg (Bathopele, Siphumelele and Thembelani), Amandelbult (Dishaba and Tumela) and Union mines that were impacted by the illegal industrial action in 2012

·      The restructuring of Platinum has commenced with baseline production of 2.2 - 2.4 million ounces per annum, with 250,000 annualised low margin, high cost, and unprofitable ounces no longer in production

·      Diamond production increased by 13% to 9.1 million carats, primarily due to increased output from Jwaneng following the recovery after the slope failure in June 2012, together with higher grades at Orapa and Venetia

The Production Report for the fourth quarter ended 31 December 2013 is unaudited. Preliminary Results for the full year to 31 December 2013 will be announced on 14 February 2014.

(1)              Copper production from the Copper business unit

(2)              Nickel production from the Nickel business unit

IRON ORE AND MANGANESE

Iron Ore and Manganese		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Iron ore	000 t	11,286	9,013	25%	9,475	19%	42,373	43,065	(2)%
Manganese ore	000 t	846	847	0%	788	8%	3,302	3,348	(1)%
Manganese alloy	000 t	66	61	8%	55	21%	251	198	26%

Iron Ore - Production from Kumba Iron Ore increased by 25% to 11.3 Mt, owing to strike action impacting production in Q4 2012.

Production at Sishen mine increased by 39% to 8.4 Mt as production recovered following the impact of the unprotected strike in Q4 2012 and by 31% compared to the previous quarter owing to the section 54 regulatory safety stoppages in August 2013. For the full year, production decreased by 8% to 30.9 Mt.  The Sishen pit remains constrained by waste material, which reduces the availability of material supplied to the processing plants. A production recovery plan to address the current pit constraints and a longer term operational optimisation strategy are being implemented.

Production at Kolomela decreased marginally by 2% to 2.7 Mt, despite a five-day planned maintenance stoppage in December. Production at Kolomela for the full year increased by 26% to 10.8 Mt. Technical studies have confirmed the mine's capacity to sustain production at 10 Mtpa for the life of mine, 1 Mtpa above its original design capacity.

Export sales volumes increased by 6% to 9.5 Mt, due to the strikes in 2012 impacting prior year sales volumes. Finished product stockpile levels amounted to 2.8 Mt, a decrease of 24%.

Manganese Ore- Production was flat at 846,000 tonnes with improved performance at Hotazel (South Africa) offsetting lower recoveries at GEMCO (Australia).

Manganese Alloy - Production increased by 8% to 66,200 tonnes due to the temporary cessation of production at TEMCO in 2012.

METALLURGICAL COAL

Metallurgical Coal		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Metallurgical - Export	000 t	4,733	4,580	3%	4,912	(4)%	18,656	17,664	6%
Thermal - Export	000 t	1,585	1,689	(6)%	1,672	(5)%	6,264	6,046	4%
Thermal - Domestic	000 t	1,689	2,025	(17)%	1,752	(4)%	6,239	6,925	(10)%

Metallurgical Coal - Export metallurgical coal production increased by 3% to 4.7 Mt, with a record performance of 18.7 Mt for the full year. Full-year production records were achieved at Moranbah and Foxleigh in Australia, and Peace River Coal in Canada.

Production at the underground operations increased by 5%, despite an additional planned longwall move at Moranbah. Full year production increased by 30% to 7.3 Mt at the underground operations following a significant improvement in longwall productivity over the past 18 months.

The strategic focus on premium priced products and underground operational improvements had a favourable impact on the product mix, with the ratio of hard coking coal (HCC) to pulverised coal injection (PCI) increasing by 3% to 70% in 2013.

Thermal coal production decreased as a result of the impact of floods in the first half of 2013, most notably at Callide.

THERMAL COAL

Thermal Coal		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
South Africa
Thermal - Export	000 t	4,602	4,659	(1)%	4,505	2%	17,031	17,132	(1)%
Thermal - Domestic (Eskom)	000 t	7,618	8,561	(11)%	9,053	(16)%	33,567	33,706	-
Thermal - Domestic (Non-Eskom)	000 t	1,234	1,595	(23)%	1,665	(26)%	5,992	6,293	(5)%
Colombia
Thermal - Export	000 t	3,290	2,662	24%	3,185	3%	11,002	11,549	(5)%

Thermal Coal - Total export thermal coal production increased by 8% to 7.9 Mt.  

Export production from South Africa decreased by 1% to 4.6 Mt. Domestic thermal coal production for Eskom decreased by 11% to 7.6 Mt, due to wet weather interruptions, a longwall stoppage at New Denmark and lower demand from Eskom from New Vaal.  Other domestic thermal coal production (non-Eskom) decreased by 23% to 1.2 Mt because of wet weather interruptions at Isibonelo.

Cerrejón's production increased by 24% to 3.3 Mt as production continued to ramp up, recovering volumes lost as a result of the strike in Q1 2013.

COPPER

Copper		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Copper	t	214,400	172,900	24%	207,100	4%	774,700	659,700	17%

Copper - Copper production increased by 24% to a quarterly record of 214,400 tonnes.

Production at Los Bronces increased by 16% to 110,000 tonnes owing to continued strong throughput performance. Reduced mine congestion and de-bottlenecking at the primary crushers has improved continuity of ore supply and throughput at both processing plants.  Improvements implemented in the Confluencia milling and flotation processes have also resulted in higher recoveries. 

Production from Collahuasi doubled to 64,800 tonnes (attributable share). The significant increase reflects the lower grades, a ball mill breakdown and SAG 3 mill underperformance in 2012.  Following the SAG 3 stator motor replacement and repowering in Q2 2013, mill throughput continues to increase, with performance for the quarter in line with expected capacity.  Production also benefited from higher than planned grades.

Production at El Soldado decreased by 17% to 12,600 tonnes, due to a lack of ore supply from the mine.  As previously advised, a major fault intersection has been encountered which has impacted ore availability and the development of the next phase in the pit.  The decrease in production has been partially offset by the processing of slag from the nearby Chagres smelter from October 2013. 

At the end of 2013, Anglo American had 179,100 tonnes of copper provisionally priced at 326 c/lb.  Provisional pricing of copper sales resulted in a negative operating profit adjustment of $92 million for 2013, versus a positive operating profit adjustment of $47 million in the prior year.

NICKEL

Nickel		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Nickel	t	10,200	7,400	38%	9,500	7%	34,400	39,300	12%

Nickel - Production increased by 38% to 10,200 tonnes, reflecting progress at Barro Alto to improve operational stability, despite the need for furnace rebuilds.  Ore smelted averaged 82% of nominal capacity during the quarter, compared to 49% in 2012. As previously announced, the two Barro Alto furnaces are being rebuilt, the first starting in late 2014 and the second in late 2015. Design capacity is expected to be achieved in 2016. 

Production at Codemin decreased by 2% as a result of a planned decline in grade.

NIOBIUM & PHOSPHATES

Niobium & Phosphates		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Niobium
Production	t	1,200	1,000	20%	1,100	9%	4,500	4,400	2%
Phosphates
Concentrate	t	353,400	350,200	1%	355,000	-	1,406,300	1,357,100	4%
Phosphoric Acid	t	78,000	82,100	(5)%	79,500	(2)%	317,100	299,800	6%
Fertiliser	t	299,000	294,200	2%	326,300	(8)%	1,199,000	1,127,600	6%
DCP	t	38,700	38,200	1%	43,100	(10)%	159,600	150,000	6%

Niobium - Production increased by 20% due to operational improvements at Boa Vista mine and its tailings plants and higher niobium pentoxide grade contained in phosphate mine tailings, more than offsetting a decline in ore quality at the mine.

Phosphates - Fertiliser production increased by 2% due to increased plant availability, enabling enhanced performance at the acidulation and granulation plants. Phosphoric acid production decreased by 5% owing to the timing of the annual planned maintenance shutdown in Cubatão, together with an unplanned maintenance stoppage in Catalão.

PLATINUM

Platinum		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Refined
Platinum	000 oz	692	704	(2)%	666	4%	2,380	2,379	-
Palladium	000 oz	428	413	4%	369	16%	1,381	1,396	(1)%
Rhodium	000 oz	84	91	(8)%	85	(2)%	295	311	(5)%
Copper(1) - Refined	t	1,800	2,500	(28)%	2,600	(31)%	8,300	11,400	(27)%
Copper(1) - Matte	t	1,400	-	-	300	367%	5,800	-	-
Nickel(1) - Refined	t	5,200	3,900	33%	4,900	6%	16,800	17,700	(5)%
Nickel(1) - Matte	t	100	-	-	300	67%	5,800	-	-
Gold	000 oz	27	19	44%	34	(21)%	100	105	(5)%
Equivalent(2)
Platinum	000 oz	520	416	25%	623	(16)%	2,320	2,219	5%

(1)       Nickel and copper refined through third parties is shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflects matte sold to a third party in Q4 2013 from 2012 and 2013 production stockpile

(2)       Equivalent refined is the mines' production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited's standard smelting and refining recoveries                             

Platinum - Equivalent refined platinum production increased by 25% to 520,300 ounces. Production from own operations and the Western Limb Tailings Retreatment was 311,000 ounces, a 35% increase compared to 2012, mainly attributable to the illegal industrial action that impacted Q4 2012. Production from joint ventures and associates, including both own mine and purchased production, increased by 14% to 197,700 ounces.

Mogalakwena's production increased by 24% as a result of higher throughput at the concentrator and higher recoveries. In addition, material was processed on a toll basis in 2013 at a 3rd party concentrator.

Rustenburg, Amandelbult and Union increased production in aggregate by 38% as they recovered from the effect of illegal industrial action in Q4 2012. Further industrial action was experienced at several Platinum operations in Q4 2013 (between 27 September 2013 and 10 October 2013); approximately 44,000 ounces of platinum production were lost as a result.

Production at Rustenburg decreased by 41% as a result of Khomanani mine, and Khuseleka 2 shaft having been put into long term care and maintenance since August 2013, in line with the proposed restructuring plans. The resources from these mines have now been integrated into the surrounding operations.

Production at the Tumela and Dishaba mines was adversely affected by shortages of production crews and supervisors, resulting from the extended Section 189 restructuring process. The redeployment of labour programme has been concluded and productivity improvements are expected in 2014.

Refined platinum production was marginally lower at 692,100 ounces, with total production for the year at 2.4 million ounces.  

Palladium, Rhodium and Nickel - Refined production of palladium increased by 4% and rhodium decreased by 8% as a result of a different source mix from operations as well as  different pipeline processing times for each metal. Nickel production saw a 33% increase as plant capacity increased following the resolution of technical challenges in the new nickel tank house and as ramp up continues.   

DIAMONDS

Diamonds		Q4 2013	Q4 2012	Q4 2013 vs. Q4 2012	Q3 2013	Q4 2013 vs. Q3 2013	FY 2013	FY 2012	FY 2013 vs. FY 2012
Diamonds	000 carats	9,132	8,051	13%	7,732	18%	31,159	27,875	12%

Diamonds - Production increased by 13% to 9.1 million carats, mainly attributable to the Debswana operations, with Jwaneng increasing production following the slope failure in 2012, and higher grades at Orapa. Production also increased in South Africa and Canada, on account of improved grades at Venetia and Snap Lake.

Production at Debswana increased by 17% compared to Q3 2013 with the return to operation of the Orapa One plant following unplanned maintenance in Q3. Production at Venetia improved significantly, up 57% on Q3, on account of higher volumes and grades following the recovery from pit flooding earlier in the year.  The Canadian operations also showed increased production over Q3 2013, largely due to improved throughput and higher grade at Snap Lake.

EXPLORATION AND EVALUATION

Exploration and evaluation expenditure for Q4 2013 totalled $166 million, a decrease of 19%. Total expenditure in 2013 totalled $533 million, a decrease of 27%.

Exploration expenditure in Q4 2013 was $63 million, a decrease of $7 million as a result of reductions across most of the portfolio including, metallurgical coal, diamonds and iron ore. Total expenditure in 2013 totalled $207 million, in line with 2012.   

Evaluation expenditure for the quarter was $103 million, a decrease of 23%, driven by reductions in copper and nickel and partially offset by increases in iron ore. Total expenditure in 2013 was $326 million, a decrease of 38% driven by reductions in copper and nickel partially offset by an increase in De Beers following the acquisition of additional interest in 2012.

PRODUCTION SUMMARY

The figures below include the entire output of consolidated entities and the Group's attributable share of joint ventures, joint arrangements and associates where applicable, except for Collahuasi in the Copper segment and De Beers' joint ventures which are quoted on a 100% basis.

Lump	6,825,200	5,614,100	6,866,400	6,190,300	5,551,000	22%	23%	25,496,000	26,580,500	(4)%
Fines	4,460,500	3,860,500	4,411,400	4,144,700	3,461,500	16%	29%	16,877,100	16,484,600	2%
Total Kumba production	11,285,700	9,474,600	11,277,800	10,335,000	9,012,500	19%	25%	42,373,100	43,065,100	(2)%
Sishen	8,395,000	6,429,100	8,562,100	7,552,300	6,037,800	31%	39%	30,938,500	33,696,700	(8)%
Kolomela	2,739,500	2,806100	2,583,600	2,679,500	2,792,700	(2)%	(2)%	10,808,700	8,544,900	26%
Thabazimbi	151,200	239,400	132,100	103,200	182,000	(37)%	(17)%	625,900	823,500	(24)%
Total Kumba production	11,285,700	9,474,600	11,277,800	10,335,000	9,012,500	19%	25%	42,373,100	43,065,100	(2)%
Kumba sales volumes
RSA export iron ore	9,530,200	9,422,400	10,178,300	9,945,100	8,979,600	1%	6%	39,076,000	39,657,000	(1)%
RSA domestic iron ore	1,305,700	1,312,200	1,131,500	882,000	833,100	-	57%	4,631,400	4,683,000	(1)%
Samancor
Manganese ore(1)	846,000	788,100	864,200	803,400	846,800	8%	0%	3,301,700	3,347,800	(1)%
Manganese alloys(1)(2)	66,200	54,800	72,800	57,300	61,200	21%	8%	251,100	198,400	26%
Samancor sales volumes
Manganese ore	837,900	766,100	793,800	864,300	714,800	9%	17%	3,262,100	3,212,400	1%
Manganese alloys	60,400	56,800	68,400	63,100	65,600	6%	(8)%	248,700	236,000	5%

Australia
Metallurgical - Export coking coal	3,133,900	3,053,000	2,663,400	2,861,300	3,020,700	3%	4%	11,711,600	10,484,700	12%
Metallurgical - Export PCI	1,241,900	1,444,700	1,283,800	1,289,800	1,193,000	(14)%	4%	5,260,200	5,802,700	(9)%
Thermal -Export	1,584,700	1,672,400	1,513,100	1,493,800	1,689,400	(5)%	(6)%	6,264,000	6,045,900	4%
Thermal -Domestic	1,688,800	1,752,300	1,725,300	1,073,000	2,025,300	(4)%	(17)%	6,239,400	6,924,600	(10)%
Total Australian Metallurgical Coal segment coal production	7,649,300	7,922,400	7,185,600	6,717,900	7,928,400	(3)%	(4)%	29,475,200	29,257,900	1%
Canada
Metallurgical - Export coking coal	339,300	412,500	448,500	463,500	366,300	(18)%	(7)%	1,663,800	1,376,900	21%
Metallurgical - Export PCI	18,300	1,700	-	-	-	-	-	20,000	-	-
Total Metallurgical Coal segment coal production	8,006,900	8,336,600	7,634,100	7,181,400	8,294,700	(4)%	(3)%	31,159,000	30,634,800	2%
Australia
Callide	1,688,800	1,752,300	1,725,300	1,151,400	2,148,800	(4)%	(21)%	6,317,800	7,464,000	(15)%
Capcoal	1,578,800	1,606,000	1,461,100	1,415,500	1,387,200	(2)%	14%	6,061,400	6,022,400	1%
Dawson	1,162,700	993,300	1,077,100	752,600	1,190,100	17%	(2)%	3,985,700	4,593,500	(13)%
Drayton	976,400	1,055,900	785,000	893,400	955,200	(8)%	2%	3,710,700	3,663,300	1%
Foxleigh	421,900	541,000	475,700	528,000	470,200	(22)%	(10)%	1,966,600	1,896,000	4%
Jellinbah	755,900	673,400	610,000	477,200	584,900	12%	29%	2,516,500	2,073,200	21%
Moranbah North	1,064,800	1,300,500	1,051,400	1,499,800	1,192,000	(18)%	(11)%	4,916,500	3,545,500	39%
Total Australian Metallurgical Segment coal production	7,649,300	7,922,400	7,185,600	6,717,900	7,928,400	(3)%	(4)%	29,475,200	29,257,900	1%
Canada
Peace River Coal	357,600	414,200	448,500	463,500	366,300	(14)%	(2)%	1,683,800	1,376,900	22%
Total Metallurgical Coal segment coal production	8,006,900	8,336,600	7,634,100	7,181,400	8,294,700	(4)%	(3)%	31,159,000	30,634,800	2%
Weighted average achieved FOB prices
Metallurgical - Export(3) US$/t	133	129	153	148	146	3%	(9)%	140	178	(21)%
Thermal - Export US$/t	78	82	84	90	83	(5)%	(6)%	84	96	(13)%
Thermal - Domestic US$/t	40	39	40	37	37	3%	8%	39	37	5%
Sales volumes
Metallurgical - Export(4)	5,182,200	4,859,000	4,667,100	4,336,200	4,714,000	7%	10%	19,044,500	17,413,000	9%
Thermal - Export	1,881,800	1,477,900	1,505,300	1,506,600	1,518,800	27%	24%	6,371,600	6,042,600	5%
Thermal - Domestic	1,632,000	1,684,300	1,700,000	1,109,100	1,920,800	(3)%	(15)%	6,125,400	6,920,900	(11)%

South Africa
Thermal - Export	4,602,000	4,504,900	4,015,200	3,909,200	4,659,100	2%	(1)%	17,031,300	17,132,100	(1)%
Thermal - Domestic Eskom	7,617,800	9,053,200	8,766,600	8,129,800	8,560,600	(16)%	(11)%	33,567,400	33,706,400	-
Thermal - Domestic other	1,234,100	1,665,300	1,573,800	1,518,800	1,594,500	(26)%	(23)%	5,992,000	6,219,100	(4)%
Metallurgical - Domestic	-	-	-	-	-	-	-	-	74,100	(100)%
Total South African Thermal Coal coal production	13,453,900	15,223,400	14,355,600	13,557,800	14,814,200	(12)%	(9)%	56,590,700	57,131,700	(1)%
Colombia
Thermal - Export	3,290,300	3,184,900	3,014,300	1,512,000	2,661,700	3%	24%	11,001,500	11,548,800	(5)%
Total Thermal Coal segment coal production	16,744,200	18,408,300	17,369,900	15,069,800	17,475,900	(9)%	(4)%	67,592,200	68,680,500	(2)%
South Africa
Goedehoop	1,228,300	1,194,600	1,143,200	1,114,700	1,230,100	3%	-	4,680,800	4,859,900	(4)%
Greenside	923,700	862,800	792,500	690,500	909,500	7%	2%	3,269,500	2,883,200	13%
Isibonelo	1,139,700	1,421,700	1,259,500	1,245,900	1,316,000	(20)%	(13)%	5,066,800	5,399,200	(6)%
Kleinkopje	935,600	1,106,900	973,800	980,900	950,000	(15)%	(2)%	3,997,200	3,765,500	6%
Kriel	1,962,500	2,189,900	2,056,200	1,894,100	2,068,200	(10)%	(5)%	8,102,700	8,096,900	-
Landau	1,079,800	1,065,800	939,100	999,300	1,122,000	1%	(4)%	4,084,000	4,272,300	(4)%
Mafube	416,200	475,400	437,000	496,800	489,500	(12)%	(15)%	1,825,400	1,804,100	1%
New Denmark	569,200	817,100	1,203,700	996,900	903,200	(30)%	(37)%	3,586,900	3,401,200	5%
New Vaal	3,905,200	4,797,300	4,321,200	4,082,000	4,460,100	(19)%	(12)%	17,105,700	17,623,300	(3)%
Zibulo	1,293,700	1,291,900	1,229,400	1,056,700	1,365,600	-	(5)%	4,871,700	5,026,100	(3)%
Total South African Thermal Coal coal production	13,453,900	15,223,400	14,355,600	13,557,800	14,814,200	(12)%	(9)%	56,590,700	57,131,700	(1)%
Colombia
Carbones del Cerrejón	3,290,300	3,184,900	3,014,300	1,512,000	2,661,700	3%	24%	11,001,500	11,548,800	(5)%
Total Thermal Coal segment coal production	16,744,200	18,408,300	17,369,900	15,069,800	17,475,900	(9)%	(4)%	67,592,200	68,680,500	(2)%
Weighted average achieved FOB prices
South Africa
Thermal - Export US$/t	76	74	76	83	84	3%	(10)%	77	92	(16)%
Thermal - Domestic US$/t	21	18	19	20	21	17%	-	19	21	(10)%
Colombia
Thermal - Export US$/t	72	70	75	77	84	3%	(14)%	73	89	(18)%
Sales volumes
South Africa
Thermal - Export	4,660,200	4,877,600	4,049,100	3,914,900	4,511,000	(4)%	3%	17,501,800	17,150,600	2%
Thermal - Domestic	8,805,800	10,429,100	10,243,400	9,565,800	10,192,500	(16)%	(14)%	39,044,100	40,018,000	(2)%
Colombia
Thermal - Export	3,067,100	3,154,800	3,157,100	1,773,500	2,701,700	(3)%	14%	11,152,500	10,925,600	2%
Total Thermal Coal Sales	16,533,100	18,461,500	17,449,600	15,254,200	17,405,200	(10)%	(5)%	67,698,400	68,094,200	(1)%

Collahuasi 100% basis    (Anglo American share 44%)
Ore mined	23,120,000	19,421,500	19,526,000	18,888,000	28,348,800	19%	(18%)	80,955,500	74,647,600	9%
Ore processed - Oxide	1,481,600	1,594,100	2,024,300	1,928,800	1,972,300	(7%)	(25%)	7,028,900	8,081,400	(13%)
Ore processed - Sulphide	14,019,700	13,467,600	9,972,800	10,098,900	10,791,000	4%	30%	47,559,000	43,618,600	9%
Ore grade process - Oxide (% ASCu)(6)	0.71	0.75	0.89	0.86	0.86	(4%)	(17%)	0.81	0.88	(7%)
Ore grade process - Sulphide (% TCu)(7)	1.23	1.21	1.00	0.75	0.74	1%	66%	1.07	0.76	42%
Production - Copper cathode	5,500	6,900	8,400	7,700	9,400	(20%)	(42%)	28,400	36,800	(23%)
Production - Copper in concentrate	141,700	137,800	77,400	59,200	64,400	3%	120%	416,100	245,300	70%
Total copper production for Collahuasi(6)	147,100	144,700	85,800	66,900	73,800	2%	100%	444,500	282,100	58%
AA's share of production for Collahuasi(6)	64,900	63,600	37,700	29,400	32,500	2%	99%	195,600	124,100	58%
Anglo American Sur
Los Bronces mine(8)
Ore mined	14,502,400	13,243,600	14,991,700	14,200,500	13,057,900	10%	11%	56,938,200	49,766,500	14%
Marginal ore mined	5,261,100	3,903,800	4,551,100	3,505,300	5,192,300	35%	1%	17,221,300	17,854,200	(4%)
Ore processed	12,940,500	13,168,200	12,960,600	12,891,300	12,107,800	(2%)	7%	51,960,500	45,854,800	13%
Ore grade processed Sulphide (% TCu)	0.87	0.83	0.81	0.80	0.84	4%	4%	0.83	0.84	(1%)
Production - Copper cathode	9,900	8,600	9,300	10,000	9,100	15%	9%	37,800	40,700	(7%)
Production - Copper in sulphate	-	-	200	400	500	-	-	600	2,500	(76%)
Production - Copper in concentrate	100,000	97,900	92,200	88,000	85,500	2%	17%	378,000	322,000	17%
Production total	109,900	106,400	101,700	98,300	95,100	3%	16%	416,300	365,200	14%
El Soldado mine(8)
Ore mined	2,001,200	1,910,600	2,439,800	2,225,100	2,620,700	5%	(24%)	8,576,700	8,544,500	-
Ore processed Sulphide	1,852,400	1,730,200	1,870,600	1,859,200	1,928,200	7%	(4%)	7,312,500	7,782,300	(6%)
Ore grade processed Sulphide (% TCu)	0.90	0.65	0.91	1.03	0.94	39%	(5%)	0.88	0.83	5%
Production Copper cathode	300	200	300	400	400	50%	(25%)	1,200	2,000	(40%)
Production Copper in concentrate	12,300	9,200	13,600	15,200	14,800	34%	(17%)	50,400	51,900	(3%)
Production total	12,600	9,400	13,900	15,600	15,200	34%	(17%)	51,500	53,900	(5%)
Chagres Smelter(8)
Ore smelted	39,900	38,100	35,800	36,000	29,300	5%	36%	149,800	142,900	5%
Production	38,700	36,800	34,900	34,800	28,400	5%	36%	145,200	138,700	5%
Total copper production for Anglo American Sur	122,500	115,800	115,600	113,900	110,300	6%	11%	467,800	419,100	12%
Anglo American Norte
Mantos Blancos mine
Ore processed Sulphide	1,099,500	1,073,300	1,059,400	1,097,400	1,147,400	2%	(4%)	4,329,600	4,393,200	(1%)
Ore grade processed Sulphide (% ICu)(9)	0.69	0.69	0.69	0.54	0.59	-	18%	0.65	0.64	2%
Production Copper cathode	6,700	7,500	8,000	7,300	7,700	(11%)	(13%)	29,500	29,200	1%
Production Copper in concentrate	6,700	6,100	7,200	5,100	6,200	10%	8%	25,100	25,100	-
Production total	13,500	13,500	15,200	12,400	13,900	(1%)	(4%)	54,600	54,200	1%
Mantoverde mine
Ore processed Oxide	2,473,500	2,708,500	2,544,800	2,658,500	2,670,000	(9%)	(7%)	10,385,200	10,460,400	(1%)
Ore processed Marginal ore	1,729,100	2,179,000	2,235,800	2,136,400	2,902,300	(21%)	(40%)	8,280,400	8,671,700	(5%)
Ore grade processed Oxide (% ASCu ) (10)	0.52	0.55	0.58	0.61	0.63	(6%)	(18%)	0.57	0.63	(11%)
Ore grade processed Marginal ore (% ASCu )	0.23	0.24	0.26	0.26	0.25	(6%)	(9%)	0.25	0.25	(1%)
Production Copper cathode	13,600	14,100	14,400	14,700	16,200	(4%)	(16%)	56,800	62,200	(9%)
Total copper production for Anglo American Norte	27,000	27,600	29,600	27,100	30,100	(2%)	(10%)	111,300	116,500	(5%)
Total Copper segment copper production	296,800	288,100	230,900	207,900	214,200	3%	39%	1,023,700	817,700	25%
Attributable copper production(11)	214,400	207,100	182,900	170,400	172,900	4%	24%	774,700	659,700	17%
Attributable sales volumes	214,500	216,700	176,700	160,300	177,900	(1%)	21%	768,200	643,600	19%

Barro Alto
Ore mined	321,300	885,200	510,300	282,200	238,500	(64)%	35%	1,999,000	1,844,400	8%
Ore processed	487,800	444,400	412,700	271,400	310,800	10%	57%	1,616,300	1,422,100	14%
Ore grade processed %Ni	1.82	1.87	1.74	1.84	1.87	(3)%	(3)%	1.82	1.94	(6)%
Production	7,800	7,100	6,100	4,100	4,900	10%	59%	25,100	21,600	16%
Codemin
Ore mined	-	-	6,800	-	-	-	-	6,800	-	-
Ore processed	151,700	157,000	157,900	135,800	154,200	(3)%	(2)%	602,400	581,100	4%
Ore grade processed %Ni	1.72	1.70	1.68	1.72	1.80	1%	(4)%	1.71	1.81	(6)%
Production	2,400	2,400	2,400	2,100	2,500	-	(4)%	9,300	9,600	(3)%
Loma de Níquel
Ore mined	-	-	-	-	-	-	-	-	432,900	-
Ore processed	-	-	-	-	-	-	-	-	767,400	-
Ore grade processed %Ni	-	-	-	-	-	-	-	-	1.40	-
Production	-	-	-	-	-	-	-	-	8,100	-
Total Nickel segment nickel production(12)	10,200	9,500	8,500	6,200	7,400	7%	38%	34,400	39,300	(12)%
Sales volumes	11,200	9,200	6,300	7,100	9,000	22%	24%	33,800	40,000	(16)%

Niobium (Catalão)
Ore mined	457,128	407,528	314,497	49,656	252,933	12%	81%	1,228,809	933,203	32%
Ore processed	224,391	239,924	249,666	249,137	246,252	(6)%	(9)%	963,118	973,484	(1)%
Ore grade processed	1.16	1.19	1.11	1.22	1.27	(3)%	(9)%	1.16	1.21	(4)%
Production	1,160	1,129	1,125	1,068	1,038	3%	12%	4,482	4,439	1%
Phosphates (Copebrás)
Concentrate	353,400	355,000	349,900	348,000	350,200	-	1%	1,406,300	1,357,100	4%
Phosphoric acid	78,000	79,500	82,144	77,509	82,100	(2)%	(5)%	317,153	299,800	6%
Fertiliser(13)	299,000	326,300	300,500	273,200	294,200	(8)%	2%	1,199,000	1,127,600	6%
DCP	38,700	43,100	39,500	38,300	38,200	(10)%	1%	159,600	150,000	6%

Refined production
Platinum (troy oz)	692,100	666,400	581,800	439,200	703,800	4%	(2)%	2,379,500	2,378,600	-
Palladium (troy oz)	428,200	369,300	319,700	263,600	413,300	16%	4%	1,380,800	1,395,900	(1)%
Rhodium (troy oz)	83,500	84,900	69,800	56,500	91,200	(2)%	(8)%	294,700	310,700	(5)%
Copper  refined (tonnes)(14)	1,800	2,600	1,900	2,000	2,500	(31)%	(28)%	8,300	11,400	(27%)
Copper  matte (tonnes)(14)	1,400	300	4,100	-	-	367%	-	5,800	-	-
Nickel refined (tonnes)(14)	5,200	4,900	3,400	3,300	3,900	6%	33%	16,800	17,700	(5)%
Nickel matte (tonnes)(14)	100	300	5,400	-	-	(67%)	-	5,800	-	-
Gold (troy oz)	26,700	33,700	16,300	23,300	18,600	(21)%	44%	100,000	105,200	(5)%
Equivalent refined
Platinum (troy oz)	520,300	622,600	594,500	583,000	416,000	(16)%	25%	2,320,400	2,219,100	5%
4E built-up head grade (g/tonne milled)(15)	3.19	3.36	3.24	3.22	3.22	(5)%	(1)%	3.26	3.20	2%

Carats recovered 100% basis
Debswana	6,357,000	5,446,000	6,369,000	4,535,000	5,537,000	17%	15%	22,707,000	20,216,000	12%
Namdeb Holdings	465,000	445,000	423,000	429,000	470,000	4%	(1)%	1,762,000	1,667,000	6%
De Beers Consolidated Mines	1,728,000	1,355,000	639,000	1,002,000	1,547,000	28%	12%	4,724,000	4,432,000	7%
De Beers Canada	582,000	486,000	500,000	398,000	497,000	20%	17%	1,966,000	1,560,000	26%
Total carats recovered	9,132,000	7,732,000	7,931,000	6,364,000	8,051,000	18%	13%	31,159,000	27,875,000	12%

(1)              Saleable production

(2)              Production includes medium carbon ferro-manganese

(3)              Within export coking and export PCI coals there are different grades of coal with different weighted average prices compared to benchmark

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

(5)              Excludes Anglo American Platinum's copper production

(6)              ASCu = acid soluble copper

(7)              TCu = total copper

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

(9)              Anglo American previously held 74.5% of Anglo American Sur; as from 24 August 2012, it held 50.1%. Production is stated at 100% as Anglo American continues to consolidate Anglo American Sur

(10)            ICu = insoluble copper (total copper less acid soluble copper)

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

(12)            Excludes Anglo American Platinum's nickel production

(13)            2012 fertiliser production restated to reflect the change in production quantification methodology in the acidulation plant at Cubatão

(14)            Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflect matte sold to a third party in Q4 2013 from 2012 and 2013 production stockpiles

(15)            Equivalent refined is the mines' production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited's standard smelting and refining recoveries

(16)            4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.

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

Forward-looking statements: This release 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 Tel: [phone]		UK Paul Galloway Tel: [phone]
Emily Blyth Tel: [phone]		Caroline Crampton Tel: [phone]
South Africa Pranill Ramchander Tel: [phone]		Sarah McNally Tel: [phone]

Notes to editors:

Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals - copper, nickel, niobium and phosphates; and precious metals and minerals - in which we are a global leader in both platinum and diamonds.  At Anglo American, we are committed to working together with our stakeholders - our investors, our partners and our employees - to create sustainable value that makes a real difference, while upholding the highest standards of safety and responsibility across all our businesses and geographies. The company's mining operations, pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com

 

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