Q2 2014 Production Report

RNS Number : 5488M

Anglo American PLC

17 July 2014

 



17 July 2014

Anglo American plc

Production Report for the second quarter ended 30 June 2014

Overview

	Q2 2014	Q2 2013	% vs. Q2 2013	H1 2014	H1 2013	% vs. H1 2013
Iron ore (Mt)	11.5	11.3	2%	22.8	21.6	5%
Export metallurgical coal (Mt)	4.8	4.4	10%	10.9	9.0	21%
Export thermal coal (Mt)	8.1	8.5	(5)%	16.0	15.5	4%
Copper (t)(1)	194,400	183,000	6%	396,400	353,300	12%
Nickel (t)(2)	10,600	8,500	25%	19,800	14,700	35%
Platinum (equivalent refined) (koz)(3)	358	594	(40)%	715	1,177	(39)%
Diamonds (Mct)(4)	8.5	7.9	7%	16.0	14.3	12%

·       Kumba Iron Ore production increased by 2% to 11.5 million tonnes following a solid performance at both Sishen and Kolomela. Waste removal at Sishen remained a key operational focus during the quarter

·       Export metallurgical coal production increased by 10% to 4.8 million tonnes due to productivity improvements at open cut operations and Grasstree, partially offset by a longwall move at Moranbah and subsequent geotechnical issues with the cutting panel

·      Export thermal coal production decreased by 5% to 8.1 million tonnes primarily due to lower production from Drayton in Australia. Production from the South African assets increased due to improved operational performance

·       Copper production increased by 6% to 194,400 tonnes, with improved production from        Los Bronces and Collahuasi due to higher throughput, partially offset by expected lower production at  El Soldado

·       Nickel production increased by 25% to 10,600 tonnes driven by continued improved operational stability at Barro Alto, prior to the planned rebuild of the furnaces commencing in the second half of the year

·       Niobium production was flat at 1,100 tonnes

·       Phosphates concentrate production was flat at 349,500 tonnes. Fertiliser production decreased by 8% due to maintenance stoppages and throughput constraints

·       Platinum equivalent refined production decreased by 40% to 358,000 ounces as a result of the industrial action at Rustenburg, Amandelbult and Union mines in South Africa. A three-year wage agreement reached on 24 June 2014 ended the five months of industrial action

·       Diamond production increased by 7% to 8.5 million carats, largely due to higher output at Venetia following the recovery from the pit flooding in 2013

(1)              Copper production from the Copper business unit

(2)              Nickel production from the Nickel business unit

(3)              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

(4)              De Beers production on 100% basis

IRON ORE AND MANGANESE

Iron Ore and Manganese		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Iron ore	000 t	11,465	11,278	2%	11,328	1%	22,793	21,613	5%
Manganese ore	000 t	868	864	0%	692	25%	1,561	1,668	(6)%
Manganese alloys	000 t	73	73	0%	65	12%	137	131	5%

Iron Ore - Production from Kumba Iron Ore increased by 2% to 11.5 million tonnes. The pit at Sishen continued to be mined according to the production recovery plan, although further unexpected rainfall during May 2014 hampered waste stripping operations. Waste removal, however, increased by 8% compared to Q2 2013 and by 24% compared to the previous quarter. Sishen production was 8.3 Mt for the quarter, a decrease of 3% compared to Q2 2013 and 4% compared to the previous quarter.

Kolomela mine produced 2.9 million tonnes, a 14% increase due to a continued strong operational performance.

Export sales increased by 1% to 10.3 million tonnes. Domestic sales increased by 21% to         1.4 million tonnes due to increased offtake by ArcelorMittal S.A.

Manganese ore - Production flat at 868,000 tonnes and 24% higher compared to the previous quarter driven by GEMCO delivering a record Q2 as it recovered from the higher than usual rainfall during Q1 2014.

Manganese alloy - Production of 72,500 tonnes was in line with prior year.  

COAL

Coal		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Australia & Canada
Metallurgical - Export	000 t	4,831	4,396	10%	6,053	(20)%	10,884	9,010	21%
Thermal - Export	000 t	958	1,513	(37)%	769	25%	1,728	3,007	(43)%
Thermal - Domestic	000 t	1,846	1,725	7%	1,228	50%	3,074	2,798	10%
South Africa
Thermal - Export	000 t	4,274	4,015	6%	4,149	3%	8,423	7,924	6%
Thermal - Domestic (Eskom)	000 t	8,147	8,767	(7)%	7,407	10%	15,554	16,896	(8)%
Thermal - Domestic  (Non-Eskom)	000 t	1,611	1,574	2%	1,360	19%	2,971	3,093	(4)%
Colombia
Thermal - Export	000 t	2,908	3,014	(4)%	2,948	(1)%	5,856	4,526	29%

Australia and Canada - Export metallurgical coal production increased by 10% to 4.8 million tonnes mainly due to productivity improvements from the open cut operations, most notably Dawson. The Grasstree underground mine recorded a significant improvement in productivity, while Moranbah experienced geotechnical issues with the commencement of the new cutting panel following a longwall move.

Australian export thermal coal production decreased by 37% to 1.0 million tonnes due to lower production from Drayton as the mine nears the end of its life.

South Africa - Export thermal coal production increased by 6% to 4.3 million tonnes due to productivity improvements at Greenside, Goedehoep and Kleinkopje; however, this was partially offset by adverse mining conditions at Zibulo.

Production to Eskom decreased by 7% to 8.1 million tonnes due to lower production from Kriel as the current reserve base nears depletion.

Domestic non-Eskom production improved by 2% to 1.6 million tonnes primarily due to additional production at Isibonelo.

Colombia - Cerrejón's production decreased by 4% predominantly due to dust emission constraints following the extended drought conditions.

BASE METALS AND MINERALS - COPPER

Copper		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Copper	t	194,400	183,000	6%	202,000	(4)%	396,400	353,300	12%

Copper - Copper production increased by 6% to 194,400 tonnes.

Production from Los Bronces increased by 4% to 106,000 tonnes, with continued throughput improvement at both plants. H1 2014 production was 11% higher than the prior year due to higher grade areas being mined in the period. 

At Collahuasi, production increased by 42% to 53,600 tonnes due to the SAG Mill 3 shutdown in Q2 2013 and higher grades. Higher grades reflect the current phase of mining.

El Soldado's production decreased by 40% to 8,400 tonnes due to the previously reported intersection with a geological fault. The geological fault delayed the development of the next major phase of ore supply, resulting in lower ore availability and grades.

Production from Mantos Blancos and Mantoverde decreased by 11% to a total of 26,400 tonnes, with both operations experiencing a decline in grades.

BASE METALS AND MINERALS - NICKEL, NIOBIUM AND PHOSPHATES

NICKEL

Nickel		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Nickel	t	10,600	8,500	25%	9,200	15%	19,800	14,700	35%

Nickel - Production increased by 25% to 10,600 tonnes driven by continued improved operational stability at Barro Alto, prior to the planned rebuild of the furnaces commencing in the second half of the year.

Production from Barro Alto increased by 41% to 8,600 tonnes, reflecting continued operational stability as well as the impact from the Q2 2013 unplanned stoppages in both lines.

Production from Codemin decreased by 17% to 2,000 tonnes mainly due to rephasing of annual maintenance from Q1 to Q2 2014.

NIOBIUM

Niobium		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Niobium	t	1,100	1,100	0%	1,100	0%	2,200	2,200	0%

Niobium - Production of niobium was flat at 1,100 tonnes.

PHOSPHATES

Phosphates		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Phosphates
Concentrate	t	349,500	349,900	0%	347,900	0%	697,400	697,900	0%
Phosphoric Acid	t	81,300	82,100	(1)%	53,800	51%	135,100	159,600	(15)%
Fertiliser	t	275,700	300,500	(8)%	267,200	3%	542,900	573,700	(5)%
Dicalcium phosphate (DCP)	t	43,600	39,500	10%	31,600	38%	75,200	77,800	(3)%

Phosphates - Concentrate production was flat at 349,500 tonnes. Fertiliser production decreased by 8% to 275,700 tonnes, owing to an extension of planned maintenance and other corrective maintenance stoppages, throughput constraints on certain products in Catalão, product mix change reflecting market demand and severe weather conditions causing power shortages at Cubatão in early May.

Phosphoric acid production decreased by 1% to 81,300 tonnes and dicalcium phosphate production increased by 10% to 43,600 tonnes, due to a 12-day plant stoppage in Cubatão in 2013.

PLATINUM

Platinum		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Refined
Platinum	000 oz	421	582	(28)%	435	(3)%	856	1,021	(16)%
Palladium	000 oz	295	320	(8)%	257	15%	551	583	(5)%
Rhodium	000 oz	49	70	(30)%	61	(20)%	109	126	(13)%
Copper(1) - Refined	t	3,900	1,900	105%	3,200	22%	7,100	3,900	82%
Copper(1) - Matte	t	2,300	4,100	(44)%	1,200	92%	3,500	4,100	(15)%
Nickel(1) - Refined	t	5,600	3,400	65%	4,900	14%	10,500	6,700	57%
Nickel(1) - Matte	t	2,700	5,400	(50)%	1,400	93%	4,100	5,400	(24)%
Gold	000 oz	27	16	64%	25	5%	52	40	32%
Equivalent refined
Platinum	000 oz	358	594	(40)%	357	0%	715	1,177	(39)%

(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 Q2 2013 from 2012 and 2013 production stockpile

Platinum - Equivalent refined platinum production decreased by 40% to 358,000 ounces, primarily due to the industrial action, which began on 23 January 2014 and which affected the Rustenburg, Amandelbult and Union mines in South Africa. The industrial action concluded on 24 June 2014. The total platinum ounces lost due to the industrial action for the second quarter was 239,000 ounces. Total lost production from the industrial action during H1 2014 was 424,000 ounces and a further 16,000 ounces has been lost during the ramp up of operations as "safe return to work" procedures are undertaken before mining can commence. In addition, production was 44,000 ounces lower due to the consolidation of mines at Rustenburg and Union as part of the restructuring in 2013.   

The industrial action did not impact production at the Mogalakwena and Unki mines nor at the majority of the joint operations and associates. Mogalakwena mine's production increased by 23% to 96,000 ounces, due to higher achieved 4E⁽¹⁵⁾ head grade and increased concentrator throughput, supported by the mining productivity improvement programmes. Unki mine production was flat at 15,000 ounces.

Production from the joint venture and associate portfolio increased by 3% to 188,000 ounces. All operations except Modikwa mine delivered production increases. Production at Modikwa mine was impacted in June 2014 by Section 54 safety notices that were issued by the Department of Mineral Resources following a fatal incident that occurred on 3 June 2014.

Refined platinum production decreased by 28% to 421,000 ounces. While the processing operations were not directly impacted by the strike action, lower mined supply affected refined production. A drawdown of inventory helped offset some of the shortfall.

Palladium, Rhodium and Nickel - Refined production of palladium decreased by 8%, while refined production of rhodium decreased by 30%. This variance was due to a different source of feed as certain mines' supply was impacted by the industrial action and the different processing times of the metals. Refined nickel production increased by 105% as nickel tank house production continues to improve. Nickel and copper matte production in Q2 2013 includes previously stockpiled nickel and copper matte delivered to third parties for processing.

DIAMONDS

Diamonds (100% basis)		Q2 2014	Q2 2013	Q2 2014 vs. Q2 2013	Q1 2014	Q2 2014 vs. Q1 2014	H1 2014	H1 2013	H1 2014 vs. H1 2013
Diamonds	000 carats	8,515	7,931	7%	7,531	13%	16,046	14,295	12%

Diamonds - Production increased by 7% to 8.5 million carats largely due to the recovery from the pit flooding at Venetia in 2013.  At Debswana, production benefited from improved productivity at the processing plants, together with the impact of the clean-up of the Jwaneng slope failure in 2013.  This was offset by the mining of lower grade areas at Jwaneng.

Operations in southern Africa were affected by high seasonal rainfall in Q1 2014, but recovered in Q2 2014, supported by initiatives implemented to better cope with these conditions.

NOTE

This Production Report for the second quarter ended 30 June 2014 is unaudited.

Interim Financial Results for the six months to 30 June 2014 will be announced on 25 July 2014.

PRODUCTION SUMMARY

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

Iron Ore (tonnes)	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014  vs. H1 2013
Kumba Iron Ore
Lump	6,951,600	6,979,200	6,825,200	5,614,100	6,866,400	0%	1%	13,930,800	13,056,700	7%
Fines	4,513,400	4,348,600	4,460,500	3,860,500	4,411,400	4%	2%	8,862,000	8,556,100	4%
Total Kumba production	11,465,000	11,327,800	11,285,700	9,474,600	11,277,800	1%	2%	22,792,800	21,612,800	5%
Sishen	8,336,600	8,657,500	8,395,000	6,429,100	8,562,100	(4)%	(3)%	16,994,100	16,114,400	5%
Kolomela	2,948,400	2,512,900	2,739,500	2,806,100	2,583,600	17%	14%	5,461,300	5,263,100	4%
Thabazimbi	180,000	157,400	151,200	239,400	132,100	14%	36%	337,400	235,300	43%
Total Kumba production	11,465,000	11,327,800	11,285,700	9,474,600	11,277,800	1%	2%	22,792,800	21,612,800	5%
Kumba sales volumes
RSA export iron ore	10,287,200	9,422,700	9,530,200	9,422,400	10,178,300	9%	1%	19,709,900	20,123,500	(2)%
RSA domestic iron ore	1,374,000	1,414,800	1,305,700	1,312,200	1,131,500	(3)%	21%	2,788,800	2,013,500	39%
Samancor
Manganese ore(1)	868,300	692,200	846,000	788,100	864,200	25%	0%	1,560,500	1,667,600	(6)%
Manganese alloys(1)(2)	72,500	64,800	66,200	54,800	72,800	12%	0%	137,300	131,000	5%
Samancor sales volumes
Manganese ore	854,100	833,900	837,900	766,100	793,800	2%	8%	1,688,000	1,658,100	2%
Manganese alloys	74,400	79,200	60,400	56,800	68,400	(6)%	9%	153,600	131,500	17%

Coal (tonnes)	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014       vs. H1 2013
Australia
Metallurgical - Export Coking Metallurgical - Export PCI	2,917,700 1,441,800	3,964,000 1,659,300	3,133,900 1,241,900	3,053,000 1,444,700	2,663,400 1,283,800	(26)% (13)%	10% 12%	6,881,700 3,101,100	5,524,700 2,573,600	25% 20%
	4,359,500	5,623,300	4,375,800	4,497,700	3,947,200	(22)%	10%	9,982,800	8,098,300	23%
Thermal - Export	958,400	769,300	1,584,700	1,672,400	1,513,100	25%	(37)%	1,727,700	3,006,900	(43)%
Thermal - Domestic	1,846,000	1,227,900	1,688,800	1,752,300	1,725,300	50%	7%	3,073,900	2,798,300	10%
	2,804,400	1,997,200	3,273,500	3,424,700	3,238,400	40%	(13)%	4,801,600	5,805,200	(17)%
Canada
Metallurgical - Export Coking	439,200	409,200	339,300	412,500	448,500	7%	(2)%	848,400	912,000	(7)%
Metallurgical - Export PCI	32,000	20,800	18,300	1,700	-	54%	-	52,800	-	-
	471,200	430,000	357,600	414,200	448,500	10%	5%	901,200	912,000	(1)%
South Africa
Thermal - Export	4,273,600	4,149,100	4,602,000	4,504,900	4,015,200	3%	6%	8,422,700	7,924,400	6%
Thermal - Domestic (Eskom)	8,146,800	7,406,900	7,617,800	9,053,200	8,766,600	10%	(7)%	15,553,700	16,896,400	(8)%
Thermal - Domestic (Other)	1,611,200	1,359,500	1,234,100	1,665,300	1,573,800	19%	2%	2,970,700	3,092,600	(4)%
	14,031,600	12,915,500	13,453,900	15,223,400	14,355,600	9%	(2)%	26,947,100	27,913,400	(3)%
Colombia
Thermal - Export	2,907,700	2,948,200	3,290,300	3,184,900	3,014,300	(1)%	(4)%	5,855,900	4,526,300	29%
	2,907,700	2,948,200	3,290,300	3,184,900	3,014,300	(1)%	(4)%	5,855,900	4,526,300	29%
Total Metallurgical coal production	4,830,700	6,053,300	4,733,400	4,911,900	4,395,700	(20)%	10%	10,884,000	9,010,300	21%
Total Export Thermal coal production	8,139,700	7,866,600	9,477,000	9,362,200	8,542,600	3%	(5)%	16,007,800	15,457,600	4%
Total Domestic Thermal coal production	11,604,000	9,994,300	10,540,700	12,470,800	12,065,700	16%	(4)%	21,596,900	22,787,200	(5)%
Total Coal production	24,574,400	23,914,200	24,751,100	26,744,900	25,004,000	3%	(2)%	48,488,600	47,255,100	(3)%
Weighted average achieved FOB prices
Australia and Canada
Metallurgical - Export(3) US$/t	109	124	133	129	153	(12)%	(29)%	117	151	(23)%
Thermal - Export US$/t	82	79	78	82	84	4%	(2)%	81	87	(7)%
Thermal - Domestic US$/t	35	40	40	39	40	(13)%	(13)%	37	39	(5)%
South Africa
Thermal - Export US$/t	73	77	76	74	76	(5)%	(4)%	75	80	(6)%
Thermal - Domestic US$/t	19	18	21	18	19	6%	0%	19	20	(5)%
Colombia
Thermal - Export US$/t	67	68	72	70	75	(2%)	(11)%	68	76	(11)%
Sales volumes
Australia and Canada
Metallurgical - Export(4)	5,152,600	5,386,200	5,182,200	4,859,000	4,667,100	(4)%	10%	10,538,800	9,003,300	17%
Thermal - Export	897,300	1,019,700	1,881,800	1,477,900	1,505,300	(12)%	(40)%	1,917,000	3,011,900	(36)%
Thermal - Domestic	1,870,000	1,331,400	1,632,000	1,684,300	1,700,000	40%	10%	3,201,400	2,809,100	14%
South Africa
Thermal - Export	3,982,500	3,977,300	4,660,200	4,877,600	4,049,100	0%	(2)%	7,959,700	7,964,000	0%
Thermal - Domestic	9,677,500	9,078,500	8,805,800	10,429,100	10,243,400	7%	(6)%	18,756,100	19,809,200	(5)%
Colombia
Thermal - Export	2,858,200	2,647,200	3,067,100	3,154,800	3,157,100	8%	(10)%	5,505,400	4,930,593	12%

Coal by mine (tonnes)	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Australia
Callide	1,844,600	1,229,200	1,688,800	1,752,300	1,725,300	50%	7%	3,073,800	2,876,600	7%
Capcoal (incl. Grasstree)	1,847,500	1,904,700	1,578,800	1,606,000	1,461,100	(3)%	26%	3,752,200	2,876,600	30%
Dawson	1,101,200	1,022,800	1,162,700	993,300	1,077,100	8%	2%	2,124,000	1,829,800	16%
Drayton	708,500	659,100	976,400	1,055,900	785,000	7%	(10)%	1,367,600	1,678,400	(19)%
Foxleigh	471,200	432,900	421,900	541,000	475,700	9%	(1)%	904,100	1,003,700	(10)%
Jellinbah	756,300	677,500	755,900	673,400	610,000	12%	24%	1,433,800	1,087,200	32%
Moranbah North	434,600	1,694,300	1,064,800	1,300,500	1,051,400	(74)%	(59)%	2,128,900	2,551,200	(17)%
	7,163,900	7,620,500	7,649,300	7,922,400	7,185,600	(6)%	0%	14,784,400	13,903,500	6%
Canada
Peace River Coal	471,200	430,000	357,600	414,200	448,500	10%	5%	901,200	912,000	(1)%
	471,200	430,000	357,600	414,200	448,500	10%	5%	901,200	912,000	(1)%
South Africa
Goedehoop	1,177,200	1,138,400	1,228,300	1,194,600	1,143,200	3%	3%	2,315,600	2,258,000	3%
Greenside	806,500	803,500	923,700	862,800	792,500	0%	2%	1,610,000	1,483,000	9%
Isibonelo	1,329,100	1,248,900	1,139,700	1,421,700	1,259,500	6%	6%	2,578,000	2,505,400	3%
Kleinkopje	1,142,700	807,500	935,600	1,106,900	973,800	42%	17%	1,950,200	1,954,700	0%
Kriel	1,756,200	2,045,500	1,962,500	2,189,900	2,056,200	(14)%	(15)%	3,801,700	3,950,300	(4)%
Landau	870,900	902,700	1,079,800	1,065,800	939,100	(4)%	(7)%	1,773,600	1,938,400	(9)%
Mafube	413,500	321,800	416,200	475,400	437,000	28%	(5)%	735,300	933,700	(21)%
New Denmark	1,091,800	638,800	569,200	817,100	1,203,700	71%	(9)%	1,730,600	2,200,600	(21)%
New Vaal	4,321,200	3,895,000	3,905,200	4,797,300	4,321,200	11%	0%	8,216,200	8,403,300	(2)%
Zibulo	1,122,500	1,113,400	1,293,700	1,291,900	1,229,400	1%	(9)%	2,235,900	2,286,000	(2)%
	14,031,600	12,915,500	13,453,900	15,223,400	14,355,600	9%	(2)%	26,947,100	27,913,400	(3)%
Colombia
Carbones del Cerrejón	2,907,700	2,948,200	3,290,300	3,184,900	3,014,300	(1)%	(4)%	5,855,900	4,526,300	29%
	2,907,700	2,948,200	3,290,300	3,184,900	3,014,300	(1)%	(4)%	5,855,900	4,526,300	29%
Total Coal production	24,574,400	23,914,200	24,751,100	26,744,900	25,004,000	3%	(2)%	48,488,600	47,255,100	3%

Copper (tonnes) unless stated otherwise(6)	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Collahuasi 100% basis (Anglo American share 44%)
Ore mined	16,248,500	17,560,100	23,120,000	19,421,500	19,526,000	(7)%	(17)%	33,808,600	38,414,000	(12)%
Ore processed - Oxide	1,659,900	1,700,500	1,481,600	1,594,100	2,024,300	(2)%	(18)%	3,360,400	3,953,200	(15)%
Ore processed - Sulphide	13,194,500	12,060,400	14,019,700	13,467,600	9,972,800	9%	32%	25,254,900	20,071,700	26%
Ore grade processed - Oxide (% ASCu)(6)	0.72	0.71	0.71	0.75	0.89	1%	(19)%	0.72	0.88	(19)%
Ore grade processed - Sulphide (% TCu)(7)	1.03	1.09	1.23	1.21	1.00	(6)%	3%	1.06	0.88	21%
Production - Copper cathode	4,400	5,300	5,500	6,900	8,400	(17)%	(48)%	9,700	16,100	(40)%
Production - Copper in concentrate	117,400	113,600	141,700	137,800	77,400	3%	52%	231,000	136,600	69%
Total copper production for Collahuasi	121,800	118,900	147,200	144,700	85,800	2%	42%	240,700	152,700	58%
Anglo American's share of copper production for Collahuasi(8)	53,600	52,300	64,800	63,700	37,800	2%	42%	105,900	67,100	58%
Anglo American Sur
Los Bronces mine(9)
Ore mined	15,483,900	12,311,300	14,502,400	13,243,600	14,991,700	26%	3%	27,795,200	29,192,100	(5)%
Marginal ore mined	4,949,400	5,280,400	5,261,100	3,903,800	4,551,100	(6)%	9%	10,229,800	8,056,400	27%
Ore processed - Sulphide	13,911,500	13,295,100	12,940,500	13,168,200	12,960,600	5%	7%	27,206,600	25,851,900	5%
Ore grade processed - Sulphide (% TCu)	0.81	0.88	0.87	0.83	0.81	(8)%	(1)%	0.84	0.80	5%
Production - Copper cathode	8,900	9,900	9,900	8,600	9,300	(10)%	(4)%	18,800	19,300	(3)%
Production - Copper in sulphate	-	-	-	-	200	-	(100)%	-	600	(100)%
Production - Copper in concentrate	97,100	105,700	100,000	97,900	92,200	(8)%	5%	202,800	180,100	13%
Production total	106,000	115,600	109,900	106,500	101,700	(8)%	4%	221,600	200,000	11%
El Soldado mine(9)
Ore mined	450,300	1,893,500	2,001,200	1,910,600	2,439,800	(76)%	(82)%	2,343,800	4,664,900	(50)%
Ore processed - Sulphide	1,777,400	1,856,900	1,852,400	1,730,200	1,870,600	(4)%	(5)%	3,634,300	3,729,800	(3)%
Ore grade processed - Sulphide (% TCu)	0.58	0.67	0.90	0.65	0.91	(13)%	(36)%	0.63	0.97	(35)%
Production - Copper cathode	300	200	300	200	300	50%	0%	500	700	(29)%
Production - Copper in concentrate	8,100	9,700	12,300	9,200	13,600	(16)%	(40)%	17,800	28,800	(38)%
Production total	8,400	9,900	12,600	9,400	13,900	(15)%	(40)%	18,300	29,500	(38)%
Chagres Smelter(9)
Ore smelted	33,200	36,700	39,900	38,100	35,800	(10)%	(7)%	69,900	71,800	(3)%
Production	32,400	35,500	38,700	36,800	34,900	(9)%	(7)%	67,900	69,700	(3)%
Total copper production for Anglo American Sur	114,400	125,500	122,500	115,900	115,600	(9)%	(1)%	239,900	229,500	5%
Anglo American Norte
Mantos Blancos mine
Ore processed  - Sulphide	1,109,000	1,078,000	1,099,500	1,073,300	1,059,400	3%	5%	2,187,000	2,156,800	1%
Ore grade processed - Sulphide (% ICu) (10)	0.60	0.69	0.69	0.69	0.69	(13)%	(13)%	0.62	0.61	2%
Production - Copper cathode	7,900	5,000	6,700	7,500	8,000	58%	(1)%	12,900	15,300	(16)%
Production - Copper in concentrate	6,300	6,100	6,700	6,100	7,200	3%	(13)%	12,400	12,300	1%
Production total	14,200	11,100	13,400	13,600	15,200	28%	(7)%	25,300	27,600	(8)%
Mantoverde mine
Ore processed - Oxide	2,566,100	2,530,500	2,473,500	2,708,500	2,544,800	1%	1%	5,096,600	5,203,200	(2)%
Ore processed - Marginal ore	2,189,100	2,105,200	1,729,100	2,179,000	2,235,800	4%	(2)%	4,294,300	4,372,300	(2)%
Ore grade processed - Oxide (% ASCu )	0.48	0.50	0.52	0.55	0.58	(4)%	(17)%	0.49	0.60	(17)%
Ore grade processed - Marginal ore (% ASCu )	0.23	0.24	0.23	0.24	0.26	(1)%	(10)%	0.24	0.26	(9)%
Production - Copper cathode	12,200	13,100	13,600	14,100	14,400	(7)%	(15)%	25,300	29,100	(13)%
Total copper production for Anglo American Norte	26,400	24,200	27,000	27,700	29,600	9%	(11)%	50,600	56,700	(11)%
Total Copper segment copper production	262,600	268,600	296,700	288,300	231,000	(2)%	14%	531,200	438,900	21%
Total Attributable copper production(11)	194,400	202,000	214,300	207,300	183,000	(4)%	6%	396,400	353,300	12%
Attributable sales volumes	180,800	207,600	214,500	216,700	176,700	(13)%	2%	388,400	337,000	15%

Nickel (tonnes) unless stated otherwise(12)	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Barro Alto
Ore mined	736,600	354,000	321,300	885,200	510,300	108%	44%	1,090,600	792,500	38%
Ore processed	555,500	464,000	487,800	444,400	412,700	20%	35%	1,019,500	684,100	49%
Ore grade processed - %Ni	1.78	1.78	1.82	1.87	1.74	0%	2%	1.78	1.78	0%
Production	8,600	6,900	7,800	7,100	6,100	25%	41%	15,500	10,200	52%
Codemin
Ore mined	6,800	-	-	-	6,800	-	0%	6,800	6,800	0%
Ore processed	140,800	147,200	151,700	157,000	157,900	(4)%	(11)%	288,000	293,700	(2)%
Ore grade processed - %Ni	1.67	1.67	1.72	1.70	1.68	(0)%	(1)%	1.67	1.70	(2)%
Production	2,000	2,300	2,400	2,400	2,400	(13)%	(17)%	4,300	4,500	(4)%
Total Nickel segment nickel production	10,600	9,200	10,200	9,500	8,500	15%	25%	19,800	14,700	35%
Sales volumes	8,900	10,000	11,200	9,200	6,300	(11)%	41%	18,900	13,400	41%

Niobium (tonnes) unless otherwise stated	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Niobium
Ore mined	356,200	38,500	457,100	407,500	314,500	825%	13%	394,700	364,200	8%
Ore processed	238,700	229,700	224,400	239,900	249,700	4%	(4)%	468,400	498,800	(6)%
Ore grade processed - %Nb	1.10	0.92	1.16	1.19	1.11	20%	(1)%	1.01	1.16	(13)%
Production	1,100	1,100	1,200	1,100	1,100	-	0%	2,200	2,200	0%
Sales volumes	1,200	1,100	1,200	1,200	1,200	9%	0%	2,300	2,300	0%

Phosphates (tonnes) unless otherwise stated	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Phosphates
Concentrate	349,500	347,900	353,400	355,000	349,900	0%	-	697,400	697,900	-
Concentrate grade - %P2O5	37.1	36.8	36.7	37.1	37.4	1%	(1)%	37.0	37.4	(1)%
Phosphoric acid	81,300	53,800	78,000	79,500	82,100	51%	(1)%	135,100	159,600	(15)%
Fertiliser(13)	275,700	267,200	299,000	326,300	300,500	3%	(8)%	542,900	573,700	(5)%
High analysis fertiliser	44,200	30,100	44,400	61,300	53,000	47%	(17)%	74,300	103,600	(28)%
Low analysis fertiliser	231,500	237,100	254,600	265,000	247,500	(2)%	(6)%	468,600	470,100	-
Dicalcium phosphate (DCP)	43,600	31,600	38,700	43,100	39,500	38%	10%	75,200	77,800	(3)%
Fertiliser sales volumes	241,000	266,500	340,100	280,300	263,600	(10)%	(9)%	507,500	542,900	(7)%

Platinum	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Refined production
Platinum (troy oz)	420,600	435,200	692,100	666,400	581,800	(3)%	(28)%	855,800	1,021,000	(16)%
Palladium (troy oz)	294,600	256,700	428,200	369,300	319,700	15%	(8)%	551,300	583,300	(5)%
Rhodium (troy oz)	48,700	60,600	83,500	84,900	69,800	(20)%	(30)%	109,300	126,300	(13)%
Copper  refined (tonnes)(14)	3,900	3,200	1,800	2,600	1,900	22%	105%	7,100	3,900	49%
Copper  matte (tonnes)(14)	2,300	1,200	1,400	300	4,100	92%	(44)%	3,500	4,100	17%
Nickel refined (tonnes)(14)	5,600	4,900	5,200	4,900	3,400	14%	65%	10,500	6,700	36%
Nickel matte (tonnes)(14)	2,700	1,400	100	300	5,400	93%	(50)%	4,100	5,400	2%
Gold (troy oz)	26,700	25,400	26,700	33,700	16,300	5%	64%	52,100	39,600	32%
Equivalent refined
Platinum (troy oz)	358,200	357,000	520,300	622,600	594,500	0%	(40)%	715,200	1,177,000	(39)%
4E built-up head grade (g/tonne milled)(15)	2.77	2.86	3.19	3.36	3.24	(3)%	(15)%	2.82	3.25	(13)%

Diamonds	Q2 2014	Q1 2014	Q4 2013	Q3 2013	Q2 2013	Q2 2014 vs. Q1 2014	Q2 2014 vs. Q2 2013	H1 2014	H1 2013	H1 2014 vs. H1 2013
Carats recovered (100% basis)
Orapa	3,487,000	3,204,000	3,516,000	2,644,000	3,132,000	9%	11%	6,691,000	5,215,000	28%
Letlhakane	177,000	131,000	164,000	132,000	257,000	35%	(31)%	308,000	386,000	(20)%
Damtshaa	70,000	56,000	102,000	55,000	58,000	25%	21%	126,000	107,000	18%
Jwaneng	2,532,000	2,367,000	2,575,000	2,615,000	2,922,000	7%	(13)%	4,899,000	5,196,000	(6)%
Debswana	6,266,000	5,758,000	6,357,000	5,446,000	6,369,000	9%	(2)%	12,024,000	10,904,000	10%
Land	199,000	137,000	148,000	161,000	137,000	45%	45%	336,000	293,000	15%
Marine	310,000	295,000	317,000	284,000	286,000	5%	8%	605,000	559,000	8%
Namdeb Holdings	509,000	432,000	465,000	445,000	423,000	18%	20%	941,000	852,000	10%
Kimberley	154,000	159,000	147,000	224,000	223,000	(3)%	(31)%	313,000	444,000	(30)%
Venetia	834,000	531,000	1,403,000	891,000	258,000	57%	223%	1,365,000	898,000	52%
Voorspoed	186,000	242,000	178,000	240,000	158,000	(23)%	18%	428,000	299,000	43%
DBCM	1,174,000	932,000	1,728,000	1,355,000	639,000	26%	84%	2,106,000	1,641,000	28%
Snap Lake	379,000	268,000	397,000	315,000	328,000	41%	16%	647,000	600,000	8%
Victor	187,000	141,000	185,000	171,000	172,000	33%	9%	328,000	298,000	10%
De Beers Canada	566,000	409,000	582,000	486,000	500,000	38%	13%	975,000	898,000	9%
Total carats recovered	8,515,000	7,531,000	9,132,000	7,732,000	7,931,000	13%	7%	16,046,000	14,295,000	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 ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur

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

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

(12)            Excludes Anglo American Platinum's nickel production

(13)            2013 fertiliser includes updated  production quantification methodology in the acidulation plant at Cubatão

(14)            Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflect matte sold to a third party in Q2 2013 from 2012 and 2013 production stockpiles

(15)            4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.

Note:

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

Forward-looking statements:

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

For further information, please contact:

Media	Investors
UK	UK
James Wyatt-Tilby	Paul Galloway
Tel: [phone]	Tel: [phone]
Emily Blyth	Caroline Crampton
Tel: [phone]	Tel: [phone]
South Africa	Sarah McNally
Pranill Ramchander	Tel: [phone]
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

 

END

 

 

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