REG - Anglo American PLC - Anglo American Production Report Q4, 2016 <Origin Href="QuoteRef">AAL.L</Origin> - Part 1

Anglo AmericanAnnouncement

26/01/2017 08:55

RNS Number : 1467V
Anglo American PLC
26 January 2017
NEWSRELEASE
26 January2017
Click on, or paste the following link into your web browser, to view the associated PDF document:
http://www.rns-pdf.londonstockexchange.com/rns/1467V_-2017-1-25.pdf
AngloAmerican plc
ProductionReport for thefourth quarterended 31December2016
Overview

Q4 2016
Q4 2015
% vs. Q4 2015
2016
2015
% vs. 2015
Diamonds (Mct)(1)
7.8
7.1
10%
27.3
28.7
(5)%
Platinum (produced ounces) (koz)(2)
610
598
2%
2,382
2,337
2%
Copper retained operations (t)(3)(4)(5)
146,600
181,400
(19)%
577,100
638,000
(10)%
Nickel (t)(6)
10,900
10,500
4%
44,500
30,300
47%
Iron ore - Kumba (Mt)
11.9
10.9
9%
41.5
44.9
(8)%
Iron ore - Minas-Rio (Mt)(7)
4.9
3.3
49%
16.1
9.2
76%
Export metallurgical coal (Mt)
5.4
5.5
(2)%
20.9
21.2
(2)%
Export thermal coal (Mt)(8)
8.0
7.7
4%
32.5
33.8
(4)%
MarkCutifani,AngloAmericanChiefExecutive,said"Operational improvements across the portfolio delivered a 4% production increase on a copper equivalent basis(9) in Q4 2016. De Beers saw continued production increases, reflecting improved trading conditions relative to Q4 2015, while the successful restructuring at Kumba's Sishen mine resulted in an 11% production increase. Similarly, Barro Alto's nickel production increased by 9% after reaching nameplate capacity in Q3 2016. At Platinum, we continue to maintain discipline by mining to demand. Together with positive contributions from ongoing ramp-ups at Minas-Rio, Grosvenor and Gahcho Ku, we will be reporting a 2% increase in copper equivalent production volumes for 2016 as a whole."
 Rough diamondproductionincreasedby10%to7.8 millioncarats compared with Q4 2015 when production was reduced in response to trading conditions. The increase also reflects the ramp-up of Gahcho Ku in Canada.
 Platinum production(expressedas metalinconcentrate)(2)increased by 2% to 610,100 ounces with strong production from Mogalakwena and Unki mines as well as BRPM and Kroondal. Refinedplatinumproduction decreasedby15%to631,600ouncesfollowing the Waterval Smelter run-out and subsequent rebuild which impacted refined production by 59,000 ounces in the quarter.
 Copper production decreased by 19% to 146,600 tonnes, primarily at Los Bronces due to expected lower grades, adverse weather earlier in the year, and illegal industrial action by contractor unions.
 Nickel production increased by 4% to 10,900 tonnes following the successful ramp-up of Barro Alto to nameplate capacity in Q3 2016. 
 Iron ore production from Kumba increased by 9% to 11.9 million tonnes driven by improved mining productivity and higher plant yields at Sishen, and higher throughput at Kolomela. 
 IronoreproductionfromMinas-Rio increased by 49%to4.9million tonnes (wet basis)asthe operationcontinuesto ramp-up.
 Export metallurgical coal production decreased by 2%, primarily due to the sale of Foxleigh which completed in August 2016. Excluding Foxleigh, productionincreased by 5% to 5.4milliontonnesdueto the ramp-upatGrosvenor and productivity improvements at Moranbah and Dawson, partly offset by geological issues and a subsequent longwall move at Grasstree in Q4 2016.
 Production of export thermal coal was impacted by the sale of Callide, which completed on 31October 2016. Excluding Callide, production increased by 7% to 7.9 million tonnes due to productivity driven improvements across all operations in South Africa and Cerrejn.
(1)DeBeersproductionon100% basis except the Gahcho Ku joint venture which is on an attributable 51% basis;(2)Reflectsownmineproductionand purchasesofmetalinconcentrate;(3)CopperproductionfromtheCopperbusinessunit;(4)Copperproduction shownonacontained metalbasis;(5)2015CopperproductionnormalisedforthesaleofAnglo American Norte;(6)Nickelproductionfrom theNickelbusinessunit; (7) Wetbasis; (8) Export thermal coal includes production from Australia, South Africa and Colombia; (9)Copper equivalentproductionisnormalisedforthesaleofAngloAmericanNorte, Kimberley, Niobium & Phosphates, Foxleigh and Callide, andtoreflectSnapLakebeingplacedoncareandmaintenance, and to reflect the closure of Drayton.

DE BEERS
Diamonds(1)
Q4
2016
Q4
2015
Q4 2016
vs.
Q4 2015
Q3
2016
Q4 2016
vs.
Q3 2016
2016
2015
2016 vs. 2015
Debswana
000 carats
5,440
4,749
15%
4,549
20%
20,501
20,368
1%
Namdeb Holdings
000 carats
428
405
6%
405
6%
1,573
1,764
(11)%
DBCM
000 carats
1,387
1,459
(5)%
1,094
27%
4,234
4,673
(9)%
De Beers Canada
000 carats
497
439
13%
225
121%
1,031
1,887
(45)%
Total carats recovered
000 carats
7,752
7,052
10%
6,273
24%
27,339
28,692
(5)%
DeBeers- Rough diamondproductionincreasedby10%to7.8 millioncarats compared with Q4 2015 when production was reduced in response to trading conditions. The increase also reflected the ramp-up of Gahcho Ku. 
Debswana's (Botswana) productionincreased by 15%to 5.4millioncarats. At Jwaneng, production increased 40%, partly offset by Orapa, which decreased by 6%, and Damtshaa (a satellite operation of Orapa), which was placed on care and maintenance from 1 January 2016.
ProductionatNamdebHoldings(Namibia) increasedby 6%to0.4millioncaratsdue to increased material processed by the Debmarine Namibia fleet.
In DBCM (South Africa), production decreased marginally to 1.4 million carats, mainly due to the sale of Kimberley Mines in January 2016, partly offset by an increase of 18% at Venetia due to the processing of higher grades. 
Production in Canada increased by 13% to 0.5 million carats, driven by the ramp-up at Gahcho Ku. This was partially offset by Snap Lake being placed on care and maintenance in December 2015. The ramp-up of Gahcho Ku continues to progress, with commercial production expected to be reached during Q1 2017.
Rough diamond production increased by 24% compared with Q3 2016 as a result of higher production at Orapa, higher grades at Venetia and the ramp-up of Gahcho Ku.
Total rough diamond sales volumes in Q4 2016 compared with Q4 2015 more than doubled to 8.0 million carats (7.5 million carats on a consolidated basis(2)). 
For the full year, total rough diamond sales volumes increased by 55% to 32.0 million carats (30.0 million carats on a consolidated basis(2)). The increases reflect the improved trading conditions from those experienced in H2 2015.
For the full year, the average realised price of $187 per carat was 10% lower than in 2015, reflecting the lower average rough price index, which was down 13%, partially offset by a stronger sales mix.
(1) De Beers production is on a 100% basis, except for the Gahcho Ku joint venture which is on an attributable 51% basis.
(2) Consolidated sales volumes exclude De Beers' JV partners' 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).


PLATINUM
Platinum

Q4
2016
Q4
2015
Q4 2016
vs.
Q4 2015
Q3
2016
Q4 2016
vs.
Q3 2016
2016
2015
2016 vs. 
2015
Produced ounces(1)









Platinum
000 oz
610
598
2%
619
(1)%
2,382
2,337
2%
Refined









Platinum
000 oz
632
745
(15)%
695
(9)%
2,335
2,459
(5)%
Palladium
000 oz
397
468
(15)%
413
(4)%
1,464
1,595
(8)%
Rhodium
000 oz
92
86
8%
87
6%
317
305
4%
Copper - Refined
t
3,300
4,700
(30)%
3,800
(13)%
14,100
16,800
(16)%
Copper - Matte(2)
t
0
0
0%
0
0%
0
300
(100)%
Nickel - Refined
t
6,200
7,300
(15)%
7,100
(13)%
25,400
25,400
0%
Nickel - Matte(2)
t
0
0
0%
0
0%
0
400
(100)%
Gold
000 oz
34
30
15%
24
41%
108
113
(4)%
(1) Reflects own mine production and purchases of metal in concentrate.
(2) Copper andnickelrefined through third parties is shown as productionof coppermatte andnickelmatte.
Platinum-Production(metalinconcentrate)was up 2% to 610,100 platinum ounces. 
Mogalakwenaproductionincreasedby 5%to 103,400ounces primarily due to a 2% increase in grade to 3.1g/t.
Amandelbult production was flat at 121,100 ounces. 
Unki production increased 7% to 19,900 ounces driven by increased tonnes milled and higher grade.
Independently managed production (mined and purchased, but excluding third party purchase of concentrate), decreased by 5% to 189,500 ounces, driven by lower production at Bokoni due to closures of two shafts at the end of 2015. This was partially offset by a strong production performance at BRPM and Kroondal. 
Following the restructuring at Union mine in 2016, which led to a significant reduction in labour, the mine continued to perform in line with its optimised mine plan, maintaining production at 38,100 ounces.
Total mined production from Rustenburg operations including the Western Limb Tailings Retreatment decreased by 62%. The sale of Rustenburg completed on 1 November 2016, from which point production from Rustenburg is recognised as third party purchase of concentrate and excluded from own production for the last two months of 2016.
Production from other sources, which includes the Twickenham project and purchase of third party concentrate, increased by 86,800 ounces to 93,900 ounces due to the inclusion of concentrate purchased from Rustenburg from 1 November 2016. This was partially offset by a reduction in purchase of concentrate from other producers.
Refinedplatinumproduction decreasedby15%to631,600ounces, following the Waterval Smelter run-out in September and subsequent rebuild which impacted refined production by 59,000 ounces in Q4 2016 and 65,000 ounces in total during 2016. Mining and concentrating activities were unaffected. The furnace has been successfully rebuilt and is operating at full capacity.
COPPER
Copper(1)

Q4 2016
Q4 2015
Q4 2016 vs.
Q4 2015
Q3 2016
Q4 2016 vs. 
Q3 2016
2016
2015
2016 vs. 2015
Collahuasi (44% share)
t
58,600
61,500
(5)%
57,000
3%
222,900
200,300
11%
Los Bronces mine
t
74,300
111,000
(33)%
72,100
3%
307,200
401,700
(24)%
Copper retained operations(2)
t
146,600
181,400
(19)%
139,800
5%
577,100
638,000
(10)%
Total attributable copper production
t
146,600
181,400
(19)%
139,800
5%
577,100
708,800
(19)%
(1) Copperproduction shown on acontained metalbasis.
(2) Anglo American Norte excluded forallperiods.
Copper-Copperproductiondecreasedby19%to146,600tonnes.
Production from Los Bronces decreased by 33% to 74,300 tonnes due to expected lower grades (0.69% vs 0.83%) exacerbated by the impact of severe weather earlier in the year resulting in lower mine development in higher grade areas, as previously reported. In addition, operations were disrupted by illegal industrial action by contractor unions (c.9kt impact on production in the quarter).
At Collahuasi, attributable production decreased by 5% to 58,600 tonnes owing to planned maintenance on the smaller Line 2 during November and December 2016.
El Soldado production increased by 54% to 13,700 tonnes primarily due to higher grades and throughput.
At the end of 2016, Anglo American had 113,204 tonnes of copper provisionally priced at 251c/lb, bringing the realised copper price for the full year to 225c/lb. The final price of these sales will be determined in the 2017 financial year.


NICKEL
Nickel

Q4
2016
Q4
2015
Q42016 vs.
Q42015
Q3
2016
Q42016 vs.
Q32016
2016
2015
2016 vs.
2015
Nickel
t
10,900
10,500
4%
11,300
(4)%
44,500
30,300
47%
Nickel-Nickelproductionincreasedby4%to10,900tonnes despite an external electric power supply interruption at Barro Alto in the quarter. 
Barro Alto recorded annual production of 35,500 tonnes, a 67% increase following the successful rebuild of the furnace. Productionfrom Codemin was stable at 9,000 tonnes for the year.
NIOBIUM
Niobium

Q4
2016
Q4
2015
Q42016 vs.
Q42015
Q3
2016
Q42016 vs.
Q32016
2016
2015
2016 vs.
2015
Niobium
t
-
1,600
-
2,100
-
4,700
6,300
(25)%
Niobium -The sale of the Niobium and Phosphates businesses completed on 30 September 2016.
PHOSPHATES
Phosphates

Q4
2016
Q4
2015
Q42016 vs.
Q42015
Q3
2016
Q42016 vs.
Q32016
2016
2015
2016 vs.
2015
Phosphates
Concentrate
t
-
355,700
-
342,400
-
1,033,400
1,341,400
(23)%
Phosphoric acid
t
-
63,900
-
80,900
-
233,600
265,100
(12)%
Fertiliser
t
-
303,400
-
303,500
-
864,300
1,110,800
(22)%
Dicalciumphosphate(DCP)
t
-
38,700
-
40,900
-
113,900
147,300
(23)%
Phosphates-The sale of the Niobium and Phosphates businesses completed on 30 September 2016.


IRON OREANDMANGANESE
IronOre andManganese
Q4
2016
Q4
2015
Q42016 vs.
Q42015
Q3
2016
Q42016 vs.
Q32016
2016
2015
2016 vs.
2015
Iron ore-Kumba
000 t
11,928
10,935
9%
 11,760
1%
41,476
44,878
(8)%
Iron ore-Minas-Rio(1)
000 t
4,855
3,253
49%
4,452
9%
16,141
9,174
76%
Manganese ore(2)
000 t
804
596
35%
762
6%
3,133
3,112
1%
Manganese alloys(3)
000 t
37
44
(15)%
39
(5)%
138
214
(35)%
(1) Wet basis.
(2) Saleableproduction.
(3) Productionincludes mediumcarbon ferro-manganese.
KumbaIronOre-Ironoreproductionincreasedby9%to 11.9milliontonnes.
Sishenproductionwas 8.5 million tonnes in Q4 2016, an 11% increase on Q4 2015 and a 2% increase on Q3 2016. Run rates in the quarter were in line with the improvement realised in Q3 2016 following the successful completion of the restructuring to a lower cost pit shell. The higher production was attributable to improved mining productivity as well as access to low strip ratio ore and higher plant yields during the second half of the year. Consistent with the mine's lower cost pit configuration, waste removal decreased by 32% to 37 million tonnes compared to Q4 2015. 
Kolomela production increased by 20% to 3.4 million tonnes compared to Q4 2015, driven by higher levels of throughput as a result of debottlenecking and optimisation of the plant. Waste mined increased by 59% to 15 million tonnes, in line with higher production levels.
Export sales increased marginally to 10.6 million tonnes. Total finished product stocks were 3.5 million tonnes, compared with 3.1 million tonnes at 30 September 2016, in line with optimum level of c.3 million tonnes.
IronOreBrazil-Iron ore production from Minas-Rio increased to 4.9 million tonnes (wet basis) during Q4 2016, a 9% increase compared to Q3 2016, as the operation continues its ramp-up. Overall improved operational performance has been achieved since July 2016, when licensing was granted to access the next area of reserves, bringing forward availability of run-of-mine material. 
The average realised price in 2016 was $54 per wet metric tonne (equivalent to $59 per dry metric tonne).
Manganeseore-Manganese ore production increased by 35% from Q4 2015 when there were stoppages in operations. Additionally in 2016, the business drew down on Wessels concentrate stockpiles in South Africa in response to higher market prices.
Manganesealloy-Manganesealloyproductiondecreased by15% from Q3 2016 as a result of furnace instability. The South African Manganese operations continue to operate only one of its four furnaces.

COAL
Coal

Q4
2016
Q4
2015
Q42016
vs.
Q42015
Q3
2016
Q42016
vs.
Q32016
2016
2015
2016
vs.
2015
Australia - excluding divestments(1)(2)








Metallurgical-Export(1)
000 t
5,360
5,115
5%
5,068
6%
19,446
19,391
0%
Thermal-Export(2)
000 t
595
831
(28)%
856
(30)%
3,270
4,358
(25)%
Thermal- Domestic(2)
000 t
-
-
-
-
-
-
-
-
Australia - total









Metallurgical-Export
000 t
5,360
5,484
(2)%
5,507
(3)%
20,876
21,208
(2)%
Thermal-Export
000 t
672
1,154
(42)%
1,113
(40)%
3,958
5,281
(25)%
Thermal- Domestic
000 t
662
1,979
(67)%
1,682
(61)%
5,553
7,052
(21)%
SouthAfrica









Thermal-Export
000 t
4,490
3,878
16%
4,751
(5)%
17,872
17,404
3%
Thermal- Domestic (Eskom)
000 t
7,515
5,534
36%
8,084
(7)%
28,699
26,021
10%
Thermal- Domestic (Non- Eskom)
000 t
1,704
1,822
(6)%
1,856
(8)%
7,188
6,844
5%
Colombia









Thermal-Export
000 t
2,801
 2,628
7%
 2,928
(4)%
10,668
11,074
(4)%
(1) Excludes production from Foxleigh, which was sold on 30 August 2016.
(2) Excludes production from Callide, which was sold on 31 October 2016.
Australia-Exportmetallurgicalcoalproduction, excluding the impact of the divestment of Foxleigh (30 August 2016) increased by 5%to5.4milliontonnesdueto production ramping up at Grosvenor, increased cutting hours and rates at Moranbah and productivity gains at Dawson. These increases have been partially offset by geological issues and a subsequent longwall move at Grasstree in Q4 2016.
Australian export thermal coal production, excluding the impact of the Callide divestment, decreased by 28% to 0.6 million tonnes as Drayton ceased mining activities in October 2016 following the NSW Planning Assessment Commission recommendation not to approve the Drayton South Project.
Australian domestic thermal coal production decreased by 67% to 0.7 million tonnes due to the sale of Callide which completed on 31 October 2016. 
SouthAfrica- Export thermalcoalproduction increasedby 16%to4.5million tonnes. Production increased at all the export mines driven by productivity improvements following the roll-out of the Anglo Operating Model. Goedehoop also benefitted from plant modifications that enabled the production of an export product from previously discarded coal. Export sales volumes at 5.8Mt exceeded export production as coal produced for the domestic market was sold in the export market for enhanced value when conditions allowed.
Eskom related production increased by 36% with New Vaal dragline maintenance impacting production in Q4 2015, improved performance from Kriel's underground operations and increased delivery against the domestic supply contract at Kleinkopje.
Colombia-Cerrejn'sattributableproductionincreasedby7%to2.8milliontonnesdueto improved productivity and favourable weather conditions.

EXPLORATIONANDEVALUATION
Explorationand evaluationexpenditureforthequarterwas $69 million,a decrease of 19%.
Exploration expenditure forthequarterwas$28million,a decreaseof45%.Evaluation expenditureforthequarterwas$41million,anincreaseof 21%.
Total exploration and evaluation expenditure in 2016 is $212 million, a 29% decrease.
NOTE
This Production Report for the fourth quarter ended 31 December 2016 is unaudited.
PRODUCTION SUMMARY
ThefiguresbelowincludetheentireoutputofconsolidatedentitiesandtheGroup'sattributableshare ofjointoperations, associatesandjointventureswhereapplicable,exceptforDeBeers'joint ventureswhicharequotedona 100%basis unless otherwise stated.
De Beers
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Carats recovered










100% basis (unless otherwise stated)










Orapa
2,366,000
1,536,000
2,028,000
2,001,000
2,516,000
54%
(6)%
7,931,000
9,877,000
(20)%
Letlhakane
135,000
176,000
159,000
125,000
73,000
(23)%
85%
595,000
506,000
18%
Damtshaa
-
-
-
-
59,000
-
(100)%
-
221,000
(100)%
Jwaneng
2,939,000
2,837,000
2,997,000
3,202,000
2,101,000
4%
40%
11,975,000
9,764,000
23%
Debswana
5,440,000
4,549,000
5,184,000
5,328,000
4,749,000
20%
15%
20,501,000
20,368,000
1%











Namdeb
118,000
120,000
94,000
72,000
119,000
(2)%
(1)%
404,000
494,000
(18)%
Debmarine Namibia
310,000
285,000
202,000
372,000
286,000
9%
8%
1,169,000
1,270,000
(8)%
Namdeb Holdings
428,000
405,000
296,000
444,000
405,000
6%
6%
1,573,000
1,764,000
(11)%











Kimberley
-
-
-
68,000
242,000
- 
(100)%
68,000
837,000
(92)%
Venetia
1,218,000
898,000
695,000
706,000
1,033,000
36%
18%
3,517,000
3,132,000
12%
Voorspoed
169,000
196,000
126,000
158,000
184,000
(14)%
(8)%
649,000
704,000
(8)%
DBCM
1,387,000
1,094,000
821,000
932,000
1,459,000
27%
(5)%
4,234,000
4,673,000
(9)%











Snap Lake
-
-
-
3,000
280,000
- 
(100)%
3,000
1,243,000
(100)%
Victor
148,000
142,000
147,000
159,000
159,000
4%
(7)%
596,000
644,000
(7)%
Gahcho Ku (51% basis)
349,000
83,000
-
-
-
320%
-
432,000
-
-
De Beers Canada
497,000
225,000
147,000
162,000
439,000
121%
13%
1,031,000
1,887,000
(45)%
Total carats recovered
7,752,000
6,273,000
6,448,000
6,866,000
7,052,000
24%
10%
27,339,000
28,692,000
(5)%
Sales volumes










 Total sales volume
 (100%)(Mct)(1)
8.0
5.7
10.2
8.1
3.6
40%
122%
32.0
20.6
55%
 Consolidated sales
 volume(Mct)(1)
7.5
5.3
9.6
7.6
3.6
42%
108%
30.0
19.9
51%
 Number of Sights
 (sales cycles)
3
2
3
2
3


10
10

Platinum
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Refined production










 Platinum (troy oz)
631,600
694,600
747,600
260,800
744,900
(9)%
(15)%
2,334,700
2,458,800
(5)%
Palladium (troy oz)
397,400
412,900
472,300
181,600
468,400
(4)%
(15)%
1,464,200
1,594,900
(8)%
Rhodium (troy oz)
92,200
86,800
90,700
47,700
85,700
6%
8%
317,400
305,200
4%
Copper refined (tonnes)(2)
3,300
3,800
3,700
3,300
4,700
(13)%
(30)%
14,100
16,800
(16)%
Copper matte (tonnes)(2)
-
-
-
-
-
-
-
-
300
-
Nickel refined (tonnes)(2)
6,200
7,100
6,400
5,700
7,300
(13)%
(15)%
25,400
25,400
0%
Nickel matte (tonnes)(2)
-
-
-
-
-
-
-
-
400
-
Gold (troy oz)
33,900
24,100
22,300
27,900
29,500
41%
15%
108,200
113,000
(4)%
Produced ounces 
Platinum (troy oz)
610,100
619,100
585,700
567,000
598,000
(1)%
2%
2,381,900
2,337,300
2%
 Mogalakwena (troy oz)
103,400
100,700
98,800
109,000
98,500
3%
5%
411,900
392,500
5%
 Amandelbult (troy oz)
121,100
128,300
106,200
110,900
120,900
(6)%
0%
466,500
437,500
7%
 Unki (troy oz)
19,900
18,200
17,800
18,600
18,600
9%
7%
74,500
66,500
12%
 Independently managed(3) (troy oz)
189,500
207,100
203,200
185,100
199,100
(8)%
(5)%
784,900
768,500
2%
 Rustenburg(4) (troy oz)
44,200
118,100
110,800
104,300
115,800
(63)%
(62)%
377,400
478,100
(21)%
 Union (troy oz)
38,100
37,700
41,200
34,300
38,000
1%
0%
151,300
141,100
7%
 Other(5) (troy oz)
93,900
9,000
7,700
4,800
7,100
943%
1,223%
115,400
53,100
117%
4E built-up head grade (g/tonne milled)(6)
3.41
3.19
3.00
3.11
3.24
7%
5%
3.16
3.23
(2)%
Platinum sales volumes
606,500
588,000
808,400
412,800
621,800
3%
(2)%
2,415,700
2,471,400
(2)%


Copper (tonnes) on a contained metal basis unless stated otherwise(7)
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Collahuasi 100% basis (Anglo American share 44%)










Ore mined
20,335,200
17,131,800
15,277,400
14,858,200
22,468,800
19%
(9)%
67,602,600
79,573,500
(15)%
Ore processed - Oxide
-
-
-
-
-
-
-
-
4,653,900
(100)%
Ore processed - Sulphide
12,302,700
12,522,100
12,479,200
12,102,800
12,801,300
(2)%
(4)%
49,406,800
43,790,600
13%
Ore grade processed - Oxide 
(% ASCu)(8)
-
-
-
-
-
-
-
-
0.63
(100)%
Ore grade processed - Sulphide (% TCu)(9)
1.29
1.23
1.21
1.15
1.25
5%
3%
1.22
1.15
6%
Production - Copper cathode
700
800
1,400
1,900
3,100
(13)%
(77)%
4,800
22,200
(78)%
Production - Copper in concentrate
132,400
128,900
126,300
114,200
136,800
3%
(3)%
501,800
433,100
16%
Total copper production for Collahuasi
133,100
129,700
127,700
116,100
139,900
3%
(5)%
506,600
455,300
11%
Anglo American's share of copper production for Collahuasi(10)
58,600
57,000
56,200
51,100
61,500
3%
(5)%
222,900
200,300
11%
Anglo American Sur 










Los Bronces mine(11)










Ore mined
13,196,500
13,947,400
13,477,900
10,487,900
13,252,200
(5)%
(0)%
51,109,700
50,258,500
2%
Marginal ore mined
8,445,700
6,192,800
6,148,500
13,402,300
11,673,100
36%
(28)%
34,189,300
39,252,600
(13)%
Ore processed - Sulphide
11,562,500
11,511,700
12,567,500
12,055,300
14,115,200
0%
(18)%
47,697,000
45,396,900
5%
Ore grade processed - Sulphide (% TCu)
0.69
0.65
0.62
0.74
0.83
6%
(17)%
0.67
0.92
(27)%
Production - Copper cathode
8,600
8,800
8,900
9,700
9,700
(2)%
(11)%
36,000
35,000
3%
Production - Copper in concentrate
65,700
63,300
66,700
75,500
101,300
4%
(35)%
271,200
366,700
(26)%
Production total
74,300
72,100
75,600
85,200
111,000
3%
(33)%
307,200
401,700
(24)%
El Soldado mine(11)










Ore mined
2,069,800
1,678,300
2,143,000
1,448,000
1,280,000
23%
62%
7,339,100
5,208,100
41%
Ore processed - Sulphide
1,833,900
1,553,200
1,741,200
1,836,100
1,557,500
18%
18%
6,964,400
5,965,400
17%
Ore grade processed - Sulphide (% TCu)
0.90
0.86
0.89
0.75
0.79
5%
14%
0.85
0.77
10%
Production - Copper cathode
-
-
-
-
-
-
-
-
200
(100)%
Production - Copper in concentrate
13,700
10,700
12,400
10,200
8,900
28%
54%
47,000
35,800
31%
Production total
13,700
10,700
12,400
10,200
8,900
28%
54%
47,000
36,000
31%
Chagres Smelter(11)










Ore smelted
25,900
35,500
36,500
35,900
35,900
(27)%
(28)%
133,800
149,100
(10)%
Production
25,400
34,700
35,500
35,200
34,900
(27)%
(27)%
130,800
145,100
(10)%
Total copper production for Anglo American Sur
88,000
82,800
88,000
95,400
119,900
6%
(27)%
354,200
437,700
(19)%
Anglo American Norte










Mantos Blancos mine










Ore processed - Sulphide
-
-
-
-
-
-
-
-
2,835,500
-
Ore grade processed - Sulphide (% TCu)
-
-
-
-
-
-
-
-
0.76
-
Production - Copper cathode
-
-
-
-
-
-
-
-
20,400
-
Production - Copper in concentrate
-
-
-
-
-
-
-
-
18,100
-
Production total
-
-
-
-
-
-
-
-
38,500
-
Mantoverde mine










Ore processed - Oxide
-
-
-
-
-
-
-
-
6,605,300
-
Ore processed - Marginal ore 
-
-
-
-
-
-
-
-
5,944,800
-
Ore grade processed - Oxide (% ASCu) 
-
-
-
-
-
-
-
-
0.52
-
Ore grade processed - Marginal ore (% ASCu)
-
-
-
-
-
-
-
-
0.21
-
Production - Copper cathode
-
-
-
-
-
-
-
-
32,300
-
Total copper production for Anglo American Norte
-
-
-
-
-
-
-
-
70,800
-
Total Copper segment copper production
221,100
212,500
215,700
211,500
259,800
4%
(15)%
860,800
963,800
(11)%
Total Attributable copper production(12)
146,600
139,800
144,200
146,500
181,400
5%
(19)%
577,100
708,800
(19)%
Total Attributable payable copper production
141,300
135,000
139,200
141,600
175,300
5%
(19)%
557,100
686,900
(19)%
Total Attributable sales volumes
161,400
135,400
143,500
137,500
183,000
19%
(12)%
577,800
705,600
(18)%
Total Attributable payable sales volumes
155,700
130,700
138,500
133,000
176,700
19%
(12)%
557,900
683,500
(18)%
Third party sales(13)
20,100
26,000
6,700
9,200
41,400
(23)%
(51)%
62,000
41,400
50%
Nickel (tonnes)
unless stated otherwise(14)
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Barro Alto










Ore mined
364,300
974,100
835,300
457,000
453,200
(63)%
(20)%
2,630,700
2,943,600
(11)%
Ore processed
579,800
610,000
569,200
598,100
566,400
(5)%
2%
2,357,100
1,472,800
60%
Ore grade processed - % Ni
1.77
1.76
1.76
1.77
1.77
1%
0%
1.76
1.78
(1)%
Production
8,800
9,000
8,800
8,900
8,100
(2)%
9%
35,500
21,300
67%
Codemin










Ore mined
-
-
6,800
-
-
-
-
6,800
8,600
(21)%
Ore processed
142,900
144,000
151,300
151,400
 154,000
(1)%
(7)%
589,600
591,100
0%
Ore grade processed - % Ni
1.73
1.72
1.72
1.68
1.69
1%
2%
1.71
1.69
1%
Production
2,100
2,300
2,300
2,300
2,400
(9)%
(13)%
9,000
9,000
0%
Total Nickel segment nickel production
10,900
11,300
11,100
11,200
10,500
(4)%
4%
44,500
30,300
47%
Sales volumes
11,400
11,600
11,100
10,800
9,500
(2)%
20%
44,900
32,000
40%
Niobium
(tonnes) unless stated 
otherwise
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Niobium










Ore mined
-
877,800
661,000
690,300
637,700
-
-
2,229,100
2,131,700
5%
Ore processed
-
594,700
601,100
484,800
580,700
-
-
1,680,600
2,231,300
(25)%
Ore grade processed - %Nb
-
1.06
0.95
0.91
1.00
-
-
0.98
0.96
2%
Production
-
2,100
1,200
1,400
1,600
-
-
4,700
6,300
(25)%
Sales volumes
-
1,600
1,900
1,100
800
-
-
4,600
5,100
(10)%
Phosphates 
(tonnes) unless stated 
otherwise
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Phosphates










Concentrate
-
342,400
358,000
333,100
355,700
-
-
1,033,400
1,341,400
(23)%
Concentrate grade - %P2O5
-
37.1
37.1
36.6
36.7
-
-
36.9
36.8
0%
Phosphoric acid
-
80,900
73,600
79,100
63,900
-
-
233,600
265,100
(12)%
Fertiliser
-
303,500
285,900
274,900
303,400
-
-
864,300
1,110,800
(22)%
High analysis fertiliser
-
56,200
53,600
47,800
36,700
-
-
157,600
172,700
(9)%
Low analysis fertiliser
-
247,300
232,300
227,100
266,700
-
-
706,700
938,100
(25)%
Dicalcium phosphate (DCP)
-
40,900
41,500
31,500
38,700
-
-
113,900
147,300
(23)%
Fertiliser sales volumes
-
363,100
362,300
247,300
194,400
-
-
972,700
1,060,100
(8)%


Iron Ore and Manganese (tonnes)
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Kumba Iron Ore










Lump
7,812,000
7,598,500
5,721,300
5,669,700
7,029,100
3%
11%
26,801,500
29,003,100
(8)%
Fines
4,115,900
4,161,400
3,142,300
3,254,800
3,906,100
(1)%
5%
14,674,400
15,875,100
(8)%
Total Kumba production
11,927,900
11,759,900
8,863,600
8,924,500
10,935,200
1%
9%
41,475,900
44,878,200
(8)%
Sishen
8,489,900
8,348,700
5,699,600
5,841,800
7,661,300
2%
11%
28,380,000
31,392,800
(10)%
Kolomela
3,438,000
3,411,200
3,164,000
2,713,100
2,853,800
1%
20%
12,726,300
12,054,400
6%
Thabazimbi
-
-
-
369,600
420,100
-
(100)%
369,600
1,431,000
(74)%
Total Kumba production
11,927,900
11,759,900
8,863,600
8,924,500
10,935,200
1%
9%
41,475,900
44,878,200
(8)%
Kumba sales volumes










RSA export iron ore
10,611,400
10,343,200
8,729,700
9,376,100
10,509,300
3%
1%
39,060,400
43,560,000
(10)%
RSA domestic iron ore
612,700
706,900
936,000
1,167,700
533,500
(13)%
15%
3,423,300
4,276,800
(20)%
Minas-Rio production










Pellet feed (wet basis)
4,855,300
4,452,400
3,483,800
3,349,400
3,252,500
9%
49%
16,140,900
9,174,200
76%
Minas-Rio sales volumes










Export - pellet feed (wet basis)
4,761,800
4,510,400
3,223,900
3,714,400
3,035,000
6%
57%
16,210,500
8,467,600
91%
Samancor










Manganese ore(15)
804,200
761,700
791,300
775,900
596,000
6%
35%
3,133,100
3,111,600
1%
Manganese alloys(15)(16)
37,100
38,900
29,700
32,100
43,500
(5)%
(15)%
137,800
213,600
(35)%
Samancor sales volumes










Manganese ore
813,000
761,800
833,500
870,900
720,200
7%
13%
3,279,200
3,084,700
6%
Manganese alloys
31,600
49,200
46,400
42,800
42,000
(36)%
(25)%
170,000
203,300
(16)%


Coal (tonnes)
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Australia










Metallurgical - Export Coking
4,496,900
4,326,600
3,997,500
3,378,900
4,302,100
4%
5%
16,199,900
15,907,900
2%
Metallurgical - Export PCI
862,800
1,180,000
1,485,800
1,147,200
1,182,200
(27)%
(27)%
4,675,800
5,300,300
(12)%

5,359,700
5,506,600
5,483,300
4,526,100
5,484,300
(3)%
(2)%
20,875,700
21,208,200
(2)%
Thermal - Export
671,900
1,112,700
1,107,000
1,065,900
1,154,300
(40)%
(42)%
3,957,500
5,280,500
(25)%
Thermal - Domestic
661,800
1,682,000
1,716,700
1,492,900
1,978,800
(61)%
(67)%
5,553,400
7,051,600
(21)%

1,333,700
2,794,700
2,823,700
2,558,800
3,133,100
(52)%
(57)%
9,510,900
12,332,100
(23)%
South Africa










Thermal - Export
4,489,700
4,750,900
4,655,800
3,976,000
3,878,000
(5)%
16%
17,872,400
17,403,600
3%
Thermal - Domestic (Eskom)
7,514,700
8,083,900
6,708,700
6,392,000
5,533,500
(7)%
36%
28,699,300
26,021,200
10%
Thermal - Domestic 
(Non-Eskom)
1,704,200
1,855,900
1,824,300
1,803,800
1,821,500
(8)%
(6)%
7,188,200
6,843,900
5%

13,708,600
14,690,700
13,188,800
12,171,800
11,233,000
(7)%
22%
53,759,900
50,268,700
7%
Colombia










Thermal - Export
2,800,600
2,927,800
2,329,500
2,610,000
2,628,100
(4)%
7%
10,667,900
11,074,300
(4)%
Total Metallurgical coal production
5,359,700
5,506,600
5,483,300
4,526,100
5,484,300
(3)%
(2)%
20,875,700
21,208,200
(2)%
Total Export Thermal coal production
7,962,200
8,791,400
8,092,300
7,651,900
7,660,400
(9)%
4%
32,497,800
33,758,400
(4)%
Total Domestic Thermal coal production
9,880,700
11,621,800
10,249,700
9,688,700
9,333,800
(15)%
6%
41,440,900
39,916,700
4%
Total Coal production
23,202,600
25,919,800
23,825,300
21,866,700
22,478,500
(10)%
3%
94,814,400
94,883,300
0%
Sales volumes (own mined)










Australia 










Metallurgical - Export(17)
4,926,900
5,512,700
5,403,200
4,815,800
5,396,000
(11)%
(9)%
20,658,600
21,093,400
(2)%
Thermal - Export
807,300
1,123,100
1,151,900
1,173,000
1,341,700
(28)%
(40)%
4,255,300
5,904,200
(28)%
Thermal - Domestic
611,200
1,604,000
1,653,400
1,506,800
1,915,800
(62)%
(68)%
5,375,400
7,049,300
(24)%
South Africa










Thermal - Export
5,825,200
4,159,300
4,744,000
4,343,200
5,188,700
40%
12%
19,071,700
19,919,800
(4)%
Thermal - Domestic
8,942,400
9,522,400
8,187,200
7,828,600
6,763,300
(6)%
32%
34,480,600
31,691,600
9%
Colombia










 Thermal - Export
2,722,300
2,905,100
2,843,800
2,339,000
2,565,100
(6)%
6%
10,810,200
11,189,300
(3)%


Coal by mine (tonnes)
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q4 2016
vs.
Q3 2016
Q4 2016
vs.
Q4 2015
2016
2015
2016 vs.
2015
Australia










Callide
738,400
1,938,900
1,805,300
1,748,200
2,295,200
(62)%
(68)%
6,230,800
7,930,400
(21)%
Capcoal 
(incl. Grasstree)
1,230,200
1,637,300
2,205,400
1,760,000
2,283,800
(25)%
(46)%
6,832,900
8,689,700
(21)%
Dawson
1,273,000
1,185,900
1,143,800
1,006,000
1,025,800
7%
24%
4,608,700
4,314,500
7%
Drayton
82,300
317,100
418,200
349,900
351,300
(74)%
(77)%
1,167,500
2,122,000
(45)%
Foxleigh
-
438,900
566,000
434,500
376,300
(100)%
(100)%
1,439,400
1,860,600
(23)%
Grosvenor
539,100
685,700
331,200
203,000
179,100
(21)%
201%
1,759,000
499,800
252%
Jellinbah
882,100
820,200
821,600
758,400
872,700
8%
1%
3,282,300
3,201,500
3%
Moranbah North
1,948,400
1,277,300
1,015,500
824,900
1,233,200
53%
58%
5,066,100
4,921,800
3%

6,693,500
8,301,300
8,307,000
7,084,900
8,617,400
(19)%
(22)%
30,386,700
33,540,300
(9)%
South Africa










Goedehoop
1,134,200
1,286,500
1,266,600
1,001,300
896,000
(12)%
27%
4,688,600
4,287,200
9%
Greenside
1,036,900
1,111,400
990,700
806,300
897,200
(7)%
16%
3,945,300
3,876,600
2%
Zibulo
1,407,200
1,571,800
1,638,600
1,390,000
1,306,400
(10)%
8%
6,007,600
5,565,000
8%
Kleinkopje
977,600
1,166,800
757,100
966,400
824,900
(16)%
19%
3,867,900
3,152,300
23%
Landau
1,252,400
970,300
1,091,900
1,003,200
1,079,200
29%
16%
4,317,800
4,268,700
1%
Mafube
435,400
506,000
438,500
379,100
366,500
(14)%
19%
1,759,000
1,442,500
22%
New Vaal
3,994,800
4,350,500
4,027,700
3,521,800
2,811,500
(8)%
42%
15,894,800
14,148,100
12%
New Denmark
773,200
777,300
392,600
604,300
643,000
(1)%
20%
2,547,400
2,838,300
(10)%
Kriel
1,659,400
1,834,000
1,503,300
1,339,800
1,185,900
(10)%
40%
6,336,500
6,158,200
3%
Isibonelo
1,037,500
1,116,100
1,081,800
1,159,600
1,222,400
(7)%
(15)%
4,395,000
4,531,800
(3)%

13,708,600
14,690,700
13,188,800
12,171,800
11,233,000
(7)%
22%
53,759,900
50,268,700
7%
Colombia










Carbones del Cerrejn
2,800,600
2,927,800
2,329,500
2,610,000
2,628,100
(4)%
7%
10,667,900
11,074,300
(4)%
Total Coal production
23,202,700
25,919,800
23,825,300
21,866,700
22,478,500
(10)%
3%
94,814,500
94,883,300
0%
(1) Consolidated sales volumes exclude De Beers' JV partners' 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).
(2) Copper and nickel refined through third parties is shown as production of copper matte and nickel matte.
(3) Independently managed operations include: BRPM, Bokoni, Kroondal, Mototolo and Modikwa.
(4) Restated to exclude third party production from Platinum Mile which was not sold as part of the Rustenburg transaction.
(5) Other includes Twickenham and third party purchases including purchased ounces from Rustenburg from 1 November 2016.
(6) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.
(7) Excludes Anglo American Platinum's copper production.
(8) ASCu = acid soluble copper.
(9) TCu = total copper.
(10) Anglo American's share of Collahuasi production is 44%.
(11) Anglo American ownership interest of Anglo American Sur is 50.1%.Production is stated at 100% as Anglo American consolidates Anglo American Sur.
(12) Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi.
(13) Relates to sales of copper not produced by Anglo American operations.
(14) Excludes Anglo American Platinum's nickel production.
(15) Saleable production.
(16) Production includes medium carbon ferro-manganese.
(17) Includes both hard coking coal and PCI sales volumes.

ACHIEVED PRICES SUMMARY
Average achieved prices
FY 2016
FY 2015
H2 2016
H1 2016
FY 2016
vs.
FY 2015
H2 2016
vs.
H1 2016
De Beers 






Total sales volumes (100%) (Mct)
32.0
20.6
13.7
18.3
55%
(25)%
Consolidated sales volumes
(Mct)(1)
30.0
19.9
12.8
17.2
51%
(26)%
Consolidated average realised price ($/ct)(2)
187
207
201
177
(10)%
14%
Average price index(3)
118
135
119
117
(13)%
2%
PGMs 






Platinum (US$/oz)
993
1,051
1,015
971
(6)%
5%
Palladium (US$/oz)
610
703
670
551
(13)%
22%
Rhodium (US$/oz)
680
958
682
679
(29)%
0%
Basket price (US$/oz)
1,753
1,905
 1,877 
 1,632 
(8)%
15%
Basket price (ZAR/oz)
25,649
24,203
 26,209 
 25,100 
6%
4%
Copper (USc/lb)
225
228
235
215
(1)%
9%
Nickel (USc/lb)
431
498
474
387
(13)%
22%
Iron Ore - FOB prices






Kumba Export (US$/dmt)(4)
64
53
67
55
21%
22%
Minas-Rio (US$/wmt)(5)
54
41
61
44
32%
39%
Coal






Australia and Canada






Metallurgical - HCC (U$/t)(6)
119
94
153
79
27%
94%
Metallurgical - PCI (US/t) (6)
77
77
91
70
0%
30%
Thermal - Export (U$/t)
55
55
65
47
0%
38%
Thermal - Domestic (U$/t, FOR)
24
28
25
24
(14)%
4%
South Africa






Thermal - Export (U$/t)(7)
60
55
69
50
9%
38%
Thermal - Domestic (U$/t, FOR)
17
19
17
16
(11)%
6%
Colombia






Thermal - Export (U$/t)
56
55
65
47
2%
38%
(1) Consolidated sales volumes exclude De Beers' JV partners' 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).
(2) Pricing based on 100% selling value post-aggregation.
(3) Average of the De Beers price index for the Sights within the twelve month period. The De Beers price index is relative to 100 as at December 2006.
(4) Average realised export basket price (FOB Saldanha).
(5) Average realised export basket price (FOB Au) (wet basis).
(6) Weighted average metallurgical coal sales price achieved.
(7) Weighted average export thermal coal price achieved.

Note:
Productionfiguresaresometimes moreprecisethantheroundednumbersshowninthe commentary ofthisreport.Thepercentagechangewillreflectthepercentagechangeusingthe productionfiguresshownintheProductionSummaryofthisreport.
Forward-lookingstatements:
Thiscontainscertainforwardlookingstatementswhichinvolveriskanduncertainty becausethey relatetoeventsanddependoncircumstancesthatoccurinthefuture.Thereareanumberoffactors thatcouldcauseactualresultsordevelopmentstodiffermateriallyfromthoseexpressedorimplied bytheseforwardlookingstatements.
For further information, please contact:
Media

Investors
UK
James Wyatt-Tilby
james.wyatt-tilby@angloamerican.com
Tel: +44 (0)20 7968 8759
Marcelo Esquivel
marcelo.esquivel@angloamerican.com
Tel: +44 (0)20 7968 8891
South Africa
Pranill Ramchander
pranill.ramchander@angloamerican.com
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786

UK
Paul Galloway
paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8718
Trevor Dyer
trevor.dyer@angloamerican.com
Tel: +44 (0)20 7968 8992
Sheena Jethwa
sheena.jethwa@angloamerican.com
Tel: +44 (0)20 7968 8680
Notes to editors:
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.
As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.
www.angloamerican.com

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The company news service from the London Stock Exchange
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