Anglo American PLC AAL Q3 2012 Production report
Anglo American PLC (AAL) - Q3 2012 Production report
RNS Number : 4828P
Anglo American PLC
25 October 2012
25 October 2012
Anglo American plc
Production Report for the third quarter ended 30 September 2012
Overview
· Solid operational performance with production increases across five of
the seven commodities
· Kumba Iron Ore production increased by 14% to a record 12.5 million
tonnes, driven by faster than planned ramp up of Kolomela mine. Kolomela is
expected to produce at least 7 million tonnes in 2012
· Export metallurgical coal production increased by 12% to 4.5 million
tonnes
· Export thermal coal production from South Africa increased by 10% to
4.6 million tonnes
· Copper production^(1) increased by 12% to 157,300 tonnes, reflecting
the full ramp up of the Los Bronces expansion project
· Nickel production^(2) increased by 38% to 9,000 tonnes, with
production from Barro Alto offsetting the lack of production from Loma de
Níquel in Venezuela
· Refined platinum production of 649,000 ounces was flat, while
equivalent refined platinum production decreased by 6% to 626,300 ounces.
Production and costs were adversely impacted by illegal industrial action
which caused production loss of 42,000 ounces of equivalent refined platinum
in the quarter
· Diamond production decreased by 31% to 6.4 million carats, largely in
response to market conditions and the Jwaneng slope failure
· On 16 August 2012, Anglo American completed the acquisition of a 40%
shareholding in De Beers from CHL Holdings Limited for a cash consideration of
$5.2 billion
· On 24 August 2012, Anglo American completed the sale of a 25.4%
shareholding in Anglo American Sur to a Codelco and Mitsui joint venture
company for a cash consideration of $2.0 billion
· During the quarter, Anglo American issued corporate bonds with a US
dollar equivalent value of $2.3 billion in the US and European markets
The Interim Management Statement for the third quarter ended 30 September 2012
is unaudited. Preliminary Results for the full year to 31 December 2012 will
be announced on
15 February 2013. This report forms Anglo American plc's Interim Management
Statement for the purpose of the UK Listing Authority's Disclosure and
Transparency Rules.
(1) Copper production from the Copper business unit
(2) Nickel production from the Nickel business unit
IRON ORE & MANGANESE
YTD
Q3 2012 Q3 2012 2012
Iron Ore and Q3 Q3 Q2 YTD YTD
Manganese vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 2012 YTD
2011
Iron ore 000 t 12,497 10,953 14% 11,449 9% 34,053 30,107 13%
Manganese ore 000 t 858 808 6% 826 4% 2,501 2,065 21%
Manganese 000 t 52 78 (33%) 30 72% 137 223 (38%)
alloys
Iron Ore - Record quarterly Kumba Iron Ore production of 12.5 Mt was achieved,
owing to faster than planned ramp up of Kolomela mine. Kolomela's production
of 2.5 Mt was 44% higher than Q2 2012, with the mine reaching design capacity
in July 2012, ahead of schedule. The mine is expected to produce at least 7 Mt
in 2012, with full production of 9 Mtpa in 2013.
Production from Sishen mine of 9.8 Mt declined by 7%, as mining feedstock and
quality constraints continued to impact plant throughput. However, an
improvement plan has been implemented and, as a result, production increased
by 0.3 Mt quarter on quarter.
In October 2012, Sishen mine's production was affected by an illegal strike.
The strike started on 3 October, with production suspended on 4 October when
striking miners blocked access to the pit, creating an unsafe environment for
mining operations. The strikers were removed from the mine on 16 October and
management regained possession of all the heavy mining equipment from the
strikers. Following the removal of the strikers from the mine, production is
being ramped up. As at 24 October, Sishen mine had lost approximately 2.2 Mt
of finished product from the strike.
The Minas-Rio iron ore project is progressing and, during the quarter, two
legal stoppages were lifted, allowing important activities to continue at the
beneficiation plant site. If all the current impediments are cleared by the
end of 2012 and there are no major unexpected interventions, it is anticipated
that first ore on ship will be delivered in the second half of 2014. Capital
expenditure for the completion of this project was expected to be
approximately $5.8 billion, however the quantum of a further increase is
currently under review.
Manganese Ore - Consistently strong operating performance and improved plant
availability at GEMCO (Australia) contributed to record ore production in the
quarter - a 6% increase to 858,000 tonnes.
Manganese Alloys - The resumption of production at TEMCO (Australia) in July
2012 led to a substantial increase in alloy production quarter on quarter to
52,000 tonnes. The year to date decline in alloy production reflected the
permanent closure of energy-intensive silico-manganese production at Metalloys
(South Africa) in January 2012.
METALLURGICAL COAL
Q3 YTD
Q3 2012 2012 2012
Q3 Q3 Q2 YTD YTD
Metallurgical Coal vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 YTD
2012 2011
Export 000 t 4,496 4,015 12% 4,846 (7%) 13,084 10,129 29%
metallurgical
Thermal 000 t 3,399 3,978 (15%) 3,286 3% 9,256 10,068 (8%)
Metallurgical Coal - Production of metallurgical coal increased by 12% to 4.5
Mt. This was driven by productivity improvements and the timing of longwall
moves (one move in the quarter versus two moves in Q3 2011) in Australia, and
a 59% increase in production from Peace River in Canada. Production was 7%
lower quarter on quarter due to the scheduled longwall move at Grasstree mine
in Australia.
Thermal coal production decreased by 15% to 3.4 Mt in response to weaker
market conditions.
The brownfield Grosvenor metallurgical coal project in Queensland, Australia
is progressing in line with current plan. Engineering is 60% complete,
earthworks on site commenced in July and drift construction began in October.
THERMAL COAL
Q3 2012 Q3 2012 YTD 2012
Q3 Q3 Q2 YTD YTD
Thermal Coal vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 2012 YTD 2011
RSA export 000 t 4,555 4,146 10% 4,224 8% 12,473 12,091 3%
thermal
Colombia export 000 t 2,829 2,852 (1%) 3,105 (9%) 8,887 7,999 11%
thermal
RSA domestic - 000 t 9,057 8,751 3% 8,326 9% 25,146 25,809 (3%)
Eskom
RSA domestic - 000 t 1,531 1,129 36% 1,577 (3%) 4,699 3,690 27%
other
Thermal Coal - Export thermal coal production in South Africa increased by 10%
to 4.6 Mt due to the ramp-up of Zibulo and the industrial action that affected
operations in Q3 2011. This was partly offset by the planned closure of
high-cost sections at Goedehoop and Greenside, as well as a pit closure at
Kleinkopje. Cerrejón production was in line, despite the rescheduling of the
annual shiploader maintenance carried out in the quarter.
COPPER
Q3 Q3 YTD
2012 2012 2012
Q3 Q3 Q2 YTD YTD
Copper vs. vs. vs.
2012 2011 2012 2012 2011
Q3 Q2 YTD
2011 2012 2011
Copper t 157,300 139,900 12% 161,100 (2%) 486,800 429,000 13%
Copper - Production increased by 12% to 157,300 tonnes. Los Bronces production
was 84% higher, despite continued lower ore grades and recoveries, with the
Los Bronces expansion project contributing 48,900 tonnes. The new processing
plant continues to ramp up and achieved design throughput capacity in August
and September 2012. Production at Los Bronces is expected to continue to be
impacted by higher waste stripping and lower ore grades.
Production at Collahuasi decreased by 40%. Output had been expected to
decrease as a consequence of planned lower ore grades from current phases in
the mine plan, but this was compounded by a combination of lower recoveries,
an extended ball mill outage and a number of other plant reliability
challenges. The joint shareholder intervention initiated in July 2012 to
address these issues is expected to start delivering improvements from Q4 2012
onwards.
NICKEL
Q3 2012 Q3 2012 YTD 2012
Q3 Q3 Q2 YTD YTD
Nickel vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 2012 YTD 2011
Nickel t 9,000 6,500 38% 10,900 (17%) 31,900 19,200 66%
Nickel - Production increased by 38% to 9,000 tonnes due to the ramp-up of
Barro Alto, partially offset by lower production at Loma de Níquel, which
stopped production in September 2012.
Barro Alto delivered 4,700 tonnes in the quarter and 16,700 tonnes year to
date. Production in the quarter was impacted by the planned shut-down of both
kilns. On 15 October, Kiln 1's electric furnace experienced a sidewall
collapse, which will impact the production outlook. Barro Alto remains in
ramp-up phase and earnings therefore are capitalised.
Loma de Níquel's three remaining concessions (after cancellation of 13 other
concessions) are due to expire on 10 November 2012 and, if there is no
development in this situation in the coming weeks, then there will be no
further production contribution from this operation. Anglo American is
continuing to engage with stakeholders in Venezuela.
PLATINUM
Q3 2012 Q3 2012 YTD 2012
Q3 Q3 Q2 YTD YTD
Platinum vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 2012 YTD 2011
Refined
Platinum 000 oz 649 647 - 623 4% 1,675 1,820 (8%)
Palladium 000 oz 392 376 4% 356 10% 983 1,038 (5%)
Rhodium 000 oz 91 75 20% 75 21% 220 241 (9%)
Copper t 2,700 3,100 (13%) 3,300 (18%) 8,900 9,900 (10%)
Nickel t 3,700 4,900 (24%) 5,400 (31%) 13,800 15,200 (9%)
Gold 000 oz 39 17 125% 24 60% 87 77 12%
Equivalent
Platinum 000 oz 626 667 (6%) 584 7% 1,803 1,827 (1%)
Platinum - Equivalent refined platinum production decreased by 6% owing to
lower production at Union North and South, Mogalakwena, Tumela and Siphumelele
mines. Production at Union North and South mines declined by 23% and 26%
respectively due to lower grades caused by a decline in Merensky ore mined, a
fall of ground and a shortage of stopeable face. Mogalakwena production was
lower as a result of the breakdown of the primary crusher at the North
concentrator and lower head grade.
Platinum production at Rustenburg (Bathopele, Khuseleka, Khomanani,
Siphumelele and Thembelani mines) was 148,100 ounces for the quarter, a
decrease of 0.3%, and up 2% quarter on quarter despite the loss of 42,000
ounces of platinum due to illegal strike action in July and September.
Anglo American Platinum has been experiencing illegal industrial strike action
at its Rustenburg, Union and Amandelbult mining operations since 18 September
2012. This followed an initial safety suspension on 12 September. The strike
was initially contained to the Rustenburg mining operations, but has since
commenced at Union (North and South) and Amandelbult (Tumela and Dishaba)
operations as of the first week of October.
As a result of the illegal industrial action and the initial safety
suspension, equivalent refined platinum production losses, including from
joint ventures and associates, amounted to 42,000 ounces in Q3 2012 and an
additional 96,300 ounces from 1 to 24 October 2012. The production losses have
also resulted in an additional 8% increase in unit costs for Q3 2012, due to
the retained fixed cost base. The average loss of platinum production is 4,500
ounces per day (3,800 ounces for own mines). As a result, and dependent on the
resolution of the illegal strike action, the expected refined platinum
production for 2012 is reduced to between 2.2 and 2.4 million ounces. Given
the retained fixed cost base, and as result of the reduction in production,
the 2012 unit cost is expected to be R15,500 to R16,000 per equivalent refined
platinum ounce. In line with the lower production levels and in light of
continued adverse market conditions, planned total capital expenditure for
2012 has been reduced further to R6.5 billion.
Palladium, Rhodium and Nickel - Refined production of palladium and rhodium
increased by 4% and 20% respectively, while nickel decreased by 24% due to
technical challenges in the new tank house at the base metal refinery.
Palladium and rhodium variances are a result of a different source mix from
operations and different pipeline processing times for each metal.
DIAMONDS
Q3 2012 Q3 2012 YTD 2012
Q3 Q3 Q2 YTD YTD
Diamonds vs. vs. vs.
2012 2011 2012 2012 2011
Q3 2011 Q2 2012 YTD 2011
Diamonds 000 carats 6,375 9,305 (31%) 7,241 (12%) 19,824 24,839 (20%)
Diamonds - Production decreased by 31% to 6.4 million carats, largely in
response to market conditions and the Jwaneng slope failure in June 2012 which
temporarily prevented access to the main ore body. Market conditions reflect a
combination of a softening in the polished diamond market and a credit
constrained rough diamond market. The current operational focus is on
maintenance, waste stripping and safety improvements, ensuring the mines are
well positioned to respond to an increase in demand once market conditions
improve.
OTHER MINERALS & INDUSTRIAL
Q3 Q3 YTD
2012 2012 2012
Other Mining and Q3 Q3 Q2 YTD YTD
Industrial vs. vs. vs.
2012 2011 2012 2012 2011
Q3 Q2 YTD
2011 2012 2011
Phosphates t 292,300 284,500 3% 271,500 8% 810,700 786,000 3%
Niobium t 1,100 1,100 - 1,200 (8%) 3,400 2,900 17%
Amapá 000 t 1,530 1,230 25% 1,470 4% 4,570 3,550 29%
Phosphates - Production increased by 3% to 292,300 tonnes due to increased
capacity of the plants through business improvements and change in product
mix.
Niobium - Production was in line, though marginally lower than Q2 2012, owing
to the lower quality of ore feed, which is expected to continue until the end
of the year.
Amapá - Production increased by 25% to 1.5 Mt, primarily due to higher mass
recovery in the beneficiation plant as a result of increased plant stability.
Output was 4% higher than Q2 2012, principally driven by increased
productivity following improved weather conditions from August 2012 onwards.
FINANCING
During the quarter, the Group issued corporate bonds with a US dollar
equivalent value of $2.3 billion in the US and European markets. These
comprised:
· $750 million 2.625% senior notes due 2017
· $600 million 4.125% senior notes due 2022
· €750 million 2.500% guaranteed notes due 2018 issued under the Euro
Medium Term Note (EMTN) programme
EXPLORATION & EVALUATION
Exploration and evaluation operating expenditure for the nine months ended 30
September 2012 was $526 million, 47% higher than the same period of 2011.
Exploration expenditure was $136 million for the nine months ended 30
September 2012 was 62% higher than the same period of 2011. Expenditure was
primarily focused on opportunities in Australia, Brazil, Canada, Chile,
Finland, Peru and several countries in Africa.
Evaluation expenditure was $390 million for the nine months ended 30 September
2012 reflected ongoing project and technical studies, particularly in the
Metallurgical Coal, Copper and Iron Ore businesses. Metallurgical Coal
expenditure was concentrated primarily at the Moranbah South and Grosvenor 2
brownfield projects in Australia. The Copper business' evaluation expenditure
was focused on Michiquillay (Peru) and Pebble (Alaska) projects.
Anglo American recognises the longer term value of exploration and evaluation
activities. However, in light of the current macro-economic environment and
following recent successes, expenditure is being moderated in 2012 and 2013.
SIGNIFICANT TRANSACTIONS
On 16 August 2012, Anglo American completed the acquisition of a 40%
shareholding in De Beers from CHL Holdings Limited (representing the
Oppenheimer family interests), thereby increasing Anglo American's
shareholding in De Beers to 85%. Under the terms of the November 2011
agreement between Anglo American and CHL, Anglo American paid a total cash
consideration of $5.2 billion, comprising the agreed purchase price of $5.1
billion and a number of adjustments as provided for under the agreement.
On 24 August 2012, Anglo American completed the sale of a 25.4% shareholding
in Anglo American Sur to a Codelco and Mitsui joint venture company controlled
by Codelco for a combined total cash consideration of $2.0 billion.
PRODUCTION SUMMARY
The figures below include the entire output of consolidated entities and the
Group's attributable share of joint ventures, joint arrangements and
associates where applicable, except for De Beers' joint ventures which are
quoted on a 100% basis.
% Change %
Change
Q3 Q3 YTD
2012 2012 2012
vs.
Q3 2012 Q2 2012 Q1 2012 Q4 2011 Q3 2011 vs. vs. YTD 2012 YTD 2011
YTD
Q2 Q3 2011
2012 2011
Iron Ore & Manganese segment (tonnes)
Kumba Iron
Ore
Lump 7,689,900 7,045,500 6,294,100 6,914,800 6,745,900 9% 14% 21,029,500 18,530,300 13%
Fines 4,807,000 4,403,700 3,812,400 4,245,400 4,207,600 9% 14% 13,023,100 11,577,100 12%
Total Kumba 12,496,900 11,449,200 10,106,500 11,160,200 10,953,500 9% 14% 34,052,600 30,107,400 13%
production
Kumba Sales
volumes
RSA export 9,958,600 10,597,600 10,121,200 9,600,400 9,167,100 (6%) 9% 30,677,400 27,530,700 11%
iron ore
RSA domestic 1,162,400 1,368,000 1,319,500 1,241,800 1,537,700 (15%) (24%) 3,849,900 5,199,300 (26%)
iron ore
Samancor
Manganese ore 858,400 826,400 816,200 722,500 807,600 4% 6% 2,501,000 2,065,000 21%
^(1)
Manganese
alloys ^(1) 52,000 30,200 55,000 78,000 77,600 72% (33%) 137,000 223,000 (38%)
(2)
Samancor
sales volumes
Manganese ore 702,400 883,200 794,400 691,600 782,000 (20%) (10%) 2,380,000 2,255,000 6%
Manganese 48,000 50,400 71,600 78,400 74,400 (5%) (35%) 170,000 236,000 (28%)
alloys
Metallurgical Coal segment (tonnes) ^(3)
Export coking 3,095,300 3,234,300 2,145,000 2,702,900 2,761,800 (4%) 12% 8,474,600 7,523,800 13%
coal
Export PCI 1,400,400 1,611,300 1,598,000 1,357,700 1,253,200 (13%) 12% 4,609,700 2,605,300 77%
Total export
metallurgical 4,495,700 4,845,600 3,743,000 4,060,600 4,015,000 (7%) 12% 13,084,300 10,129,100 29%
^(4)
Thermal 3,398,900 3,286,300 2,570,600 3,358,700 3,978,000 3% (15%) 9,255,800 10,067,800 (8%)
Weighted
average
achieved FOB
prices
(US$/t)
Export 188 192 190 234 267 (2%) (30%) 190 257 (26%)
metallurgical
Export 96 94 113 103 98 2% (2%) 100 101 -
thermal
Domestic 36 35 39 34 35 3% 3% 36 35 6%
thermal
Sales volumes
Export
metallurgical 4,096,800 4,651,500 3,950,700 4,010,900 3,720,500 (12%) 10% 12,699,000 9,972,100 27%
^(5)
Export 1,776,300 1,525,400 1,222,100 1,849,900 1,877,500 16% (5%) 4,523,800 4,424,500 2%
thermal
Domestic 1,817,500 1,698,300 1,484,300 1,853,300 1,843,100 7% (1%) 5,000,100 5,601,700 (11%)
thermal
Production by
region:
Australia
Export 4,072,700 4,490,900 3,510,100 3,805,000 3,749,300 (9%) 9% 12,073,700 9,448,300 28%
metallurgical
Thermal 3,398,900 3,286,300 2,570,600 3,358,700 3,978,000 3% (15%) 9,255,800 10,067,800 (8%)
Total 7,471,600 7,777,200 6,080,700 7,163,700 7,727,300 (4%) (3%) 21,329,500 19,516,100 9%
Australia
Canada
Export 423,000 354,700 232,900 255,600 265,700 19% 59% 1,010,600 680,800 48%
Metallurgical
% Change %
Change
Q3 Q3 YTD
2012 2012 2012
vs.
Q3 2012 Q2 2012 Q1 2012 Q4 2011 Q3 2011 vs. vs. YTD 2012 YTD 2011
YTD
Q2 Q3 2011
2012 2011
Thermal Coal segment
(tonnes) ^(6)
RSA export 4,555,300 4,223,500 3,694,200 4,455,900 4,145,500 8% 10% 12,473,000 12,090,600 3%
thermal
Colombia
export 2,829,400 3,104,700 2,953,000 2,752,700 2,851,800 (9%) (1%) 8,887,100 7,999,000 11%
thermal
RSA domestic 9,056,900 8,326,200 7,762,700 9,487,000 8,751,400 9% 3% 25,145,800 25,809,000 (3%)
- Eskom
RSA domestic 1,530,500 1,560,900 1,533,200 1,390,100 1,052,900 (2%) 45% 4,624,600 3,451,500 34%
- other
RSA domestic
- - 15,700 58,400 84,500 75,600 (100%) (100%) 74,100 238,900 (69%)
metallurgical
Weighted
average
achieved FOB
prices
(US$/t)
RSA export 87 93 104 107 115 (6%) (24%) 95 118 (19%)
thermal
Colombia
export 86 90 95 98 103 (4%) (17%) 90 102 (12%)
thermal
RSA domestic 20 21 22 19 22 (5%) (9%) 21 22 (5%)
thermal
Sales volumes
RSA export 4,400,800 3,720,100 4,518,700 5,146,400 4,605,000 18% (4%) 12,639,600 11,385,700 11%
thermal
Colombia
export 2,630,300 2,959,600 2,634,000 2,783,700 2,900,600 (11%) (9%) 8,223,900 7,900,900 4%
thermal
RSA domestic 10,468,500 9,909,500 9,447,500 10,842,600 9,901,600 6% 6% 29,825,500 29,293,800 2%
thermal
Production by
region:
South Africa
Export 4,555,300 4,223,500 3,694,200 4,455,900 4,145,500 8% 10% 12,473,000 12,090,600 3%
thermal
RSA domestic 9,056,900 8,326,200 7,762,700 9,487,000 8,751,400 9% 3% 25,145,800 25,809,000 (3%)
- Eskom
RSA domestic 1,530,500 1,560,900 1,533,200 1,390,100 1,052,900 (2%) 45% 4,624,600 3,451,500 34%
- other
RSA domestic
- - 15,700 58,400 84,500 75,600 (100%) (100%) 74,100 238,900 (69%)
metallurgical
Total South 15,142,700 14,126,300 13,048,500 15,417,500 14,025,400 7% 8% 42,317,500 41,590,000 2%
Africa
Colombia
Export 2,829,400 3,104,700 2,953,000 2,752,700 2,851,800 (9%) (1%) 8,887,100 7,999,000 11%
Thermal
Coal production by commodity (tonnes)
Metallurgical 4,495,700 4,861,300 3,801,400 4,145,100 4,090,600 (8%) 10% 13,158,400 10,368,000 27%
Thermal excl. 10,783,600 10,614,500 9,217,800 10,567,300 10,975,300 2% (2%) 30,615,900 30,157,400 2%
RSA domestic
RSA domestic 10,587,400 9,887,100 9,295,900 10,877,100 9,804,300 7% 8% 29,770,400 29,260,500 2%
thermal
% Change %
Change
Q3 Q3 YTD
2012 2012 2012
vs.
Q3 2012 Q2 2012 Q1 2012 Q4 2011 Q3 2011 vs. vs. YTD 2012 YTD 2011
YTD
Q2 Q3 2011
2012 2011
Copper segment (tonnes)
^(7)
Collahuasi
total 62,900 68,700 76,700 114,500 104,300 (8%) (40%) 208,300 338,800 (39%)
production
Collahuasi
attributable 27,700 30,200 33,700 50,500 45,900 (8%) (40%) 91,600 149,100 (39%)
production
^(8)
Avg sulphide
ore grade 0.7 0.8 0.8 1.0 1.0 (13%) (30%) 0.8 1.0 (20%)
(%)
Los Bronces 87,200 89,800 93,200 72,600 47,400 (3%) 84% 270,200 149,200 81%
mine ^(9)
Avg sulphide
ore grade LB 0.8 0.9 0.9 0.9 0.9 (11%) (11%) 0.8 0.9 (11%)
(%)
Avg sulphide
ore grade 0.8 0.8 0.9 0.7 n/a - n/a 0.8 n/a n/a
LBDP (%)
El Soldado 12,500 12,700 13,400 15,400 13,600 (2%) (8%) 38,600 31,400 23%
mine ^(9)
Avg sulphide
ore grade 0.7 0.8 0.9 0.9 0.9 (13%) (22%) 0.8 0.8 -
(%)
Mantos 14,100 13,300 12,900 17,700 18,300 6% (23%) 40,300 54,400 (26%)
Blancos mine
Avg sulphide
ore grade 0.7 0.7 0.6 0.8 0.9 - (22%) 0.7 1.0 (30%)
(%)
Mantoverde 15,800 15,100 15,200 13,800 14,700 5% 7% 46,100 44,900 3%
mine
Avg oxide
ore grade 0.7 0.7 0.6 0.6 0.6 - 17% 0.6 0.6 -
(%)
Total copper 192,500 199,600 211,400 234,000 198,300 (4%) (3%) 603,500 618,700 (2%)
production
Attributable
copper 157,300 161,100 168,400 170,000 139,900 (2%) 12% 486,800 429,000 13%
production
^(10)
Attributable
sales 150,200 160,200 155,200 177,000 154,000 (6%) (2%) 465,600 431,300 8%
volumes
Nickel segment (tonnes)
^(11)
Codemin 2,500 2,500 2,100 2,500 2,400 - 4% 7,100 6,900 3%
Loma de 1,800 3,000 3,300 3,300 3,000 (40%) (40%) 8,100 10,100 (20%)
Niquel
Barro Alto 4,700 5,400 6,600 4,100 1,100 (13%) 327% 16,700 2,200 659%
Total nickel 9,000 10,900 12,000 9,900 6,500 (17%) 38% 31,900 19,200 66%
production
Sales 7,600 12,600 10,800 6,400 7,000 (40%) 9% 31,000 19,100 62%
volumes
Platinum
segment
Refined
production
Platinum 649,000 623,000 402,800 710,000 646,500 4% - 1,674,800 1,820,100 (8%)
(troy oz)
Palladium 392,100 355,500 392,700 376,000 10% 4% 982,600 1,038,000 (5%)
(troy oz) 35,000
Rhodium 75,100 21% 20% 219,500 240,800 (9%)
(troy oz) 90,500 53,900 96,800 75,200
Copper 3,300 (18%) (13%) 8,900 9,900 (10%)
(tonnes) 2,700 2,900 2,900 3,100
Nickel 5,400 4,900 (31%) (24%) 13,800 15,200 (9%)
(tonnes) 3,700 4,700 5,100
Gold (troy 24,100 28,000 17,100 60% 125% 86,600 77,100 12%
oz) 38,500 24,000
Equivalent
refined
Platinum 626,300 583,600 583,200 666,800 7% (6%) 1,803,100 1,826,900 (1%)
(troy oz) 93,200
4E Built-up
head grade 3.32 3.09 3.20 3.27 3.35 7% (1%) 3.20 3.23 (1%)
(g/tonne
milled)
Diamonds segment (diamonds recovered - carats)
^(12)
Debswana 4,385,000 5,345,000 4,949,000 4,643,000 6,927,000 (18%) 14,679,000 18,247,000 (20%)
(37%)
Namdeb 419,000 460,000 318,000 429,000 309,000 (9%) 36% 1,197,000 908,000 32%
De Beers
Consolidated 1,247,000 964,000 674,000 913,000 1,732,000 29% (28%) 2,885,000 4,530,000 (36%)
Mines
De Beers 324,000 472,000 267,000 506,000 337,000 (31%) (4%) 1,063,000 1,154,000 (8%)
Canada
Total
diamonds 6,375,000 7,241,000 6,208,000 6,491,000 9,305,000 (12%) (31%) 19,824,000 24,839,000 (20%)
production
% Change %
Change
Q3 Q3 YTD
2012 2012 2012
vs.
Q3 2012 Q2 2012 Q1 2012 Q4 2011 Q3 2011 vs. vs. YTD 2012 YTD 2011
YTD
Q2 Q3 2011
2012 2011
Other Mining and Industrial segment
(tonnes) ^(13)
Phosphates
Copebrás 292,300 271,500 246,900 274,900 284,500 8% 3% 810,700 786,000 3%
Niobium
Catalão 1,100 1,200 1,100 1,000 1,100 (8%) - 3,400 2,900 17%
Amapá ^(14)
Sinter feed 519,300 536,700 508,000 404,900 354,500 (3%) 46% 1,564,000 996,100 57%
Pellet feed 607,800 514,800 560,300 495,300 514,000 18% 18% 1,682,900 1,453,000 16%
Spiral 407,200 416,500 503,700 366,900 360,900 (2%) 13% 1,327,400 1,105,300 20%
concentrates
Total Amapá 1,534,300 1,468,000 1,572,000 1,267,100 1,229,400 5% 25% 4,574,300 3.554.400 29%
production
Amapá sales 1,422,700 1,278,800 1,443,500 1,374,000 1,452,000 11% (2%) 4,145,000 3,425,400 21%
volumes
(1) Saleable production
(2) Production includes medium carbon ferro-manganese
(3) Includes Peace River Coal, which was reclassified from Other
Mining and Industrial to Metallurgical Coal in 2011 to align with internal
management reporting. Comparatives have been reclassified to align with
current presentation
(4) Within export coking and export PCI coals there are different
grades of coal with different weighted average prices compared to benchmark
(5) Includes both hard coking coal and PCI product sales volumes
(6) Includes capitalised Zibulo sales of 1,580,700 (export) and
632,200 (domestic) tonnes for the nine months ended 30 September 2012 (Q3
2011: 701,700 (export) and 276,400 (domestic) tonnes)
(7) Excludes Platinum copper production
(8) Anglo American share of attributable production is 44% of
total production
(9) Anglo American previously held 74.5% of AA Sur but, as of 24
August 2012, now holds 50.06%. Production is stated at 100% as Anglo American
continues to consolidate AA Sur
(10) Difference between total copper production and attributable
copper production is Anglo American's 44% interest in Collahuasi
(11) Excludes Anglo American Platinum's nickel production
(12) On 16 August 2012 Anglo American completed its acquisition of
an additional 40% interest in De Beers increasing Anglo American's total
shareholding to 85%. Production data is disclosed on a 100% basis. Post
completion of the acquisition, De Beers Consolidated Mines and De Beers Canada
are fully consolidated subsidiaries and Debswana and Namdeb are joint ventures
proportionately consolidated at 19.2% (post implied taxes) and 50%
respectively. The Diamond Trading Company and Diamdel sell a significant
portion of total production on behalf of operations based on contractual
agreements in place
(13) Excludes Tarmac and Scaw Metals
(14) Amapá was reclassified from Iron Ore Brazil to Other Mining
and Industrial in H1 2012 to align with internal management reporting.
Comparatives have been reclassified to align with current presentation
Note:
Production figures are sometimes more precise than the rounded numbers shown
in this report. The percentage change will reflect the percentage change using
the unrounded production figures shown in 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 Leng Lau
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8540
Caroline Crampton
Tel: +44 (0)20 7968 2192
Sarah McNally
Tel: +44 (0)20 7968 8747
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. Anglo American's portfolio of mining businesses spans bulk
commodities - iron ore and manganese, metallurgical coal and thermal coal;
base metals - copper and nickel; and precious metals and minerals - in which
it is a global leader in both platinum and diamonds. Anglo American is
committed to the highest standards of safety and responsibility across all its
businesses and geographies and to making a sustainable difference in the
development of the communities around its operations. The company's mining
operations, extensive pipeline of growth projects and exploration activities
span southern Africa, South America, Australia, North America, Asia and
Europe. www.angloamerican.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSFEFEFLFESEFS -0- Oct/25/2012 06:00 GMT
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