REG - Anglo American PLC - Anglo American Q2 2015 Production Report <Origin Href="QuoteRef">AAL.L</Origin> - Part 1

Anglo AmericanAnnouncement

16/07/2015 15:35

RNS Number : 1828T
Anglo American PLC
16 July 2015
16 July 2015
Anglo American plc
Production Report for the second quarter ended 30 June 2015
Overview
Q2 2015
Q2 2014
% vs. Q2 2014
H1 2015
H1 2014
% vs. H1 2014
Iron ore - Kumba (Mt)
10.4
11.5
(9)%
22.6
22.8
(1)%
Iron ore - Minas-Rio (Mt)(1)
1.8
-
nm(2)
3.0
-
nm(2)
Export metallurgical coal (Mt)
5.3
4.8
9%
10.2
10.9
(6)%
Export thermal coal (Mt)
8.6
8.1
5%
17.3
16.0
8%
Copper (t)(3) (4)
184,500
194,400
(5)%
356,300
396,400
(10)%
Nickel (t)(5)
6,300
10,600
(41)%
13,000
19,800
(34)%
Platinum (equivalent refined) (koz)(6)
572
358
60%
1,108
715
55%
Diamonds (Mct)(7)
8.0
8.5
(6)%
15.6
16.0
(3)%
 Solid Q2 2015 production performance, broadly in line with Anglo American expectations.
 Iron ore production from Kumba decreased by 9% to 10.4 million tonnes due to mining feedstock constraints to the plants at Sishen.
 Minas-Rio produced 1.8 million tonnes (wet basis) of iron ore, a 55% increase compared to Q1 2015, reflecting the ongoing ramp up of the operation.
 Export metallurgical coal production increased by 9% to 5.3 million tonnes with higher production from Moranbah, due to a longwall move in Q2 2014, and development coal from the Grosvenor project.
 Export thermal coal production increased by 5% to 8.6 million tonnes, primarily due to higher production in Australia largely the result of a change in mix.
 Copper production decreased by 5% to 184,500 tonnes, as expected and mainly due to the temporary shutdowns of the processing plants at Los Bronces to manage water reserve levels and plant stability issues at Collahuasi.
 Nickel production decreased by 41% to 6,300 tonnes as expected, due to the planned Barro Alto furnace rebuilds.
 Equivalent refined platinum production increased by 60% to 572,000 ounces benefitting from reduced industrial stoppages compared to 2014.
 Diamond production decreased by 6% to 8.0 million carats, mainly due to lower grades and reduced plant availability at Orapa. In addition, operational flexibility at the Venetia and Jwaneng tailings treatment plants was utilised to reduce production marginally, in response to softer trading conditions.
 The first six months of 2015 have seen significant further weakness and ongoing volatility in the prices of the bulk commodities, particularly iron ore and metallurgical coal. Anglo American has therefore reviewed its near and longer term commodity price assumptions at the mid-year, while also noting the gradual and ongoing reduction of consensus prices within what remains a wide range of forecasts. As a result, Anglo American expects to record non-cash impairments within special items at 30 June 2015 relating to Minas-Rio and certain Australian coal assets of approximately $3.0 - 4.0 billion on a post-tax basis.
(1) Wet basis; (2) Not meaningful (nm); (3) Copper production from the Copper business unit; (4) Copper production shown on a contained metal basis; (5) Nickel production from the Nickel business unit; (6) 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's standard smelting and refining recoveries; (7) De Beers production on 100% basis 


IRON ORE AND MANGANESE
Iron Ore and Manganese 
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs. 
H1 2014
Iron ore - Kumba
000 t
10,385
11,465
(9)%
12,167
(15)%
22,552
22,793
(1)%
Iron ore - Minas-Rio(1)
000 t
1,826
-
nm
1,177
55%
3,003
-
nm
Manganese ore(2)
000 t
806
868
(7)%
787
2%
1,568
1,561
0%
Manganese alloys(3)
000 t
54
73
(27)%
73
(27)%
126
137
(8)%
(1) Wet basis
(2) Saleable production 
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore - Production from Kumba Iron Ore decreased by 9% to 10.4 million tonnes.
Sishen produced 7.2 million tonnes, a decrease of 14%, and 19% lower compared to the previous quarter, largely due to mining feedstock constraints to the plants. Waste removal at the mine increased by 22% to 58 million tonnes compared to Q2 2014.
Kolomela continued its strong operational performance, producing 2.9 million tonnes.
Record export sales of 11.7 million tonnes were achieved, an increase of 14%, due to sale of stock at Saldanha and Qingdao, as inventory levels continue to be managed downward to optimum levels of ~4 million tonnes. In addition, reclaimer maintenance impacted prior year sales export volumes from Kolomela. Total finished product stocks decreased to 4 million tonnes as at 30 June 2015, compared with 6.5 million tonnes at year end.
Iron Ore Brazil - The ramp up of Minas-Rio is progressing well, and production gained momentum during the second quarter, with 1.8 million tonnes (wet basis) produced, 55% higher than Q1 2015. Year to date production volumes are marginally behind plan due to early adjustments required in the filtration plant. This has been addressed and remediation actions put in place, increasing productivity and availability in May and June. 
Manganese ore - Manganese ore production decreased by 7% during Q2 2015 with volumes impacted by planned shutdowns in the South African operations, combined with unplanned industrial action during the period. The decreased volumes in South Africa were slightly offset by improvement in the Australian operations where higher yield and plant utilisation contributed to improved equipment reliability.
Manganese alloy - Manganese alloy production decreased by 27% as a result of the suspension of operations at Metalloys in South Africa. Initially the suspension was a result of a fatality at the operations, with only one furnace subsequently restarted due to market conditions.
COAL
Coal 
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs. 
H1 2014
Australia & Canada









Metallurgical - Export
000 t
5,253
4,831
9%
4,996
5%
10,248
10,884
(6)%
Thermal - Export
000 t
1,327
958
38%
1,433
(7)%
2,760
1,728
60%
Thermal - Domestic 
000 t
1,622
1,846
(12)%
1,650
(2)%
3,272
3,074
6%
South Africa









Thermal - Export 
000 t
4,297
4,274
1%
4,342 
(1)%
8,638
8,423
3% 
Thermal - Domestic (Eskom)
000 t
6,774 
8,147
(17)%
6,951 
(3)%
13,725
15,554
(12)%
Thermal - Domestic (Non-Eskom)
000 t
1,590 
1,611
(1)%
1,702 
(7)%
3,292 
2,971
11% 
Colombia









Thermal - Export
000 t
2,944
2,908
1%
2,975
(1)%
5,919
5,856
1%
Australiaand Canada - Export metallurgical coal production increased by 9% to 5.3 million tonnes as Moranbah production was higher due to a longwall move in Q2 2014, and first development coal was delivered from Grosvenor, more than offsetting Peace River Coal being placed on care and maintenance in December 2014.Strong productivity at Grasstree resulted in only marginally lower production despite a longwall move in Q2 2015. 
Australian export thermal coal production increased by 38% to 1.3 million tonnes due to Callide producing an export coal product and a change in mix (to thermal coal) at Dawson due to the impact of Cyclone Marcia on the mine sequencing. Export thermal volumes decreased by 7% compared to Q1 2015 as Drayton production was impacted by severe weather in April.
South Africa - Export thermal coal production was broadly flat at 4.3 million tonnes as productivity improvements across all operations, were partially offset by industrial action at Kleinkopje and a planned closure of one of the 11 sections at Goedehoop.
Export thermal sales were 16% higher than production in the quarter following a planned draw down of stock.
Eskom production decreased by 17% to 6.8 million tonnes owing mainly to reduced demand at New Denmark and New Vaal, industrial action and changing domestic requirements at Kleinkopje, as well as planned reductions at Kriel prior to the move to the new mining areas.
Colombia - Cerrejn's production was slightly higher at 2.9 million tonnes, supported by improved productivity of loading and hauling fleets, combined with favorable weather conditions.
COPPER
Copper 
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs. 
H1 2014
Copper (1)
t
184,500
194,400
(5)%
171,800
7%
356,300
396,400
(10)%
(1) Copper production shown on a contained metal basis
Copper - As expected, copper production decreased by 5% to 184,500 tonnes, but was 7% higher than in Q1 2015.
Production from Los Bronces decreased by 8% to 97,400 tonnes due to lower throughput following the temporary shutdowns of Plant 1 and Confluencia processing plants for 29 days and 8 days respectively to manage water reserve levels, partially offset by higher grades, with a net impact on production of ~8,000 tonnes during the quarter. This brings the total net impact of water constraints on production to 28,000 tonnes for H1 2015. The expected water supply constraints form part of the mining and processing plans for the year, which include actively managing the use of the two processing plants based on available water. Central Chile continues to experience abnormally low levels of precipitation, with June 2015 the driest on record. Additional water efficiency and supply projects were implemented during the period and longer term initiatives are progressing; however, full year production remains partially dependent on weather conditions in the second half. 
At Collahuasi, attributable production decreased by 8% to 49,300 tonnes. This was primarily due to lower ore feed as a result of speed restrictions on the two smaller processing lines after vibrations were detected. This issue is being addressed in H2 2015.
El Soldado production increased by 19% to 10,000 tonnes due to higher grades in the quarter, driven by early ore availability from Phase III. Production increased by 64% compared to Q1 2015 on higher grades and throughput.
Production from Mantos Blancos and Mantoverde increased by 5% in aggregate to 27,800 tonnes, due to continued operational improvements.
Taking into account the effect of provisional pricing, the realised copper price for the six months ending 30 June 2015 was 253c/lb.
At the period end, there were 174,000 tonnes of sales outstanding priced at 261c/lb.
NICKEL
Nickel
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs. 
H1 2014
Nickel
t
6,300
10,600
(41)%
6,700
(6)%
13,000
19,800
(34)%
Nickel - As expected, nickel production decreased by 41% to 6,300 tonnes, due to the planned furnace rebuilds at Barro Alto.The Furnace 2 rebuild was concluded ahead of schedule, with first metal tapped in April 2015 and production is now at nameplate capacity (throughput 1.2 million tonnes per year for each furnace, equivalent to an average of ~18,000 tonnes of nickel per furnace for the first ten years). The Furnace 1 rebuild commenced ahead of schedule given the successful completion of Furnace 2, and is planned to complete in October 2015.
Production from Codemin increased by 10% to 2,200 tonnes mainly due to maintenance being rescheduled to Q3 2015.
NIOBIUM 
Niobium
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Niobium
t
1,600
1,100
45%
1,300
23%
2,900
2,200
32%
Niobium - Niobium production increased by 45% to 1,600 tonnes following the ramp up of the Boa Vista Fresh Rock (BVFR) plant. Production is expected to increase to 6,800 tonnes per year once the BVFR plant reaches nameplate capacity in 2017.
PHOSPHATES
Phosphates 
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 
vs. 
H1 2014
Phosphates









Concentrate
t
 303,300
349,500 
(13)%
319,300
(5)%
622,600
697,400
(11)%
Phosphoric Acid
t
62,400
81,300
(23)%
63,200
(1)%
125,600
135,100
(7)%
Fertiliser
t
274,200
275,700
(1)%
238,800
15%
513,000
542,900
(6)%
Dicalcium phosphate (DCP)
t
38,700
43,600
(11)%
36,200
7%
74,900
75,200
(0)%
Phosphates - Concentrate production decreased by 13% to 303,300 tonnes mainly due to a maintenance stoppage being brought forward at the beneficiation plants (originally planned for Q3), throughput reductions and material feed characteristics. Phosphoric acid production decreased by 23% to 62,400 tonnes due to the rescheduling of the annual maintenance shutdown at Cubato from Q1 2015 to Q2 2015.
PLATINUM
Platinum

Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs. 
H1 2014
Refined









Platinum
000 oz
561
421
33%
542
3%
1,103
856
29%
Palladium
000 oz
388
295
32%
348
11%
736
551
33%
Rhodium
000 oz
77
49
58%
65
18%
142
109
30%
Copper - Refined
t
4,000
3,900
3%
3,900
3%
7,900
7,100
11%
Copper - Matte(1)
t
0
2,300
(100)%
300
(100)%
300
3,500
(91)%
Nickel - Refined
t
6,000
5,600
7%
5,700
5%
11,700
10,500
11%
Nickel - Matte(1)
t
0
2,700
(100)%
400
(100)%
400
4,100
(90)%
Gold
000 oz
30
27
14%
30
1%
61
52
16%
Equivalent refined









Platinum
000 oz
572
358
60%
536
7%
1,108
715
55%
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte
Platinum-Equivalent refined platinum production increased by 60% to 572,000 ounces compared to 358,000 ounces in Q2 2014, which was impacted by industrial action. 
Own mines and tailings retreatment platinum production more than doubled to 372,000 ounces as operations reached full ramp-up following the strike in H1 2014. Lost production in Q2 2014 as a result of the strike was approximately 229,000 ounces plus an additional 16,000 ounces lost during ramp-up upon settlement of the strike on 24 June 2014. In addition, as part of the on-going optimisation of Union mine, production was 16,000 ounces lower in Q2 2015 following the closure of the mine declines at the end of 2014. 
Mogalakwena production increased by 5% to 101,000 ounces due to continued strong mining performance, higher achieved head grade and improved recoveries at the concentrator. Rustenburg increased equivalent refined platinum production from 13,000 ounces to 108,000 ounces; Union mine increased from 4,000 to 30,000 ounces; and Amandelbult from 14,000 to 102,000 ounces due to the industrial action that impacted production in H1 2014. 
Independently managed production (mined and purchased) decreased by 3% to 183,000 ounces driven mainly by lower production at BRPM and Mototolo. Production was impacted as a result of section 54 safety stoppages and lower grades.
Refined platinum production increased by 33% to 561,000 ounces, following a return to normal production after the industrial action in H1 2014. Refined palladium and rhodium increased for similar reasons. The mix of metals returned to normal compositions as all mines produced at normal rates.
DIAMONDS
Diamonds
(100% basis)
Q2
2015
Q2
2014
Q2 2015
vs.
Q2 2014
Q1
2015
Q2 2015
vs.
Q1 2015
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Diamonds
000 carats
7,963
8,515
(6)%
7,665
4%
15,628
16,046
(3)%
De Beers - Diamond production decreased by 6% to 8.0 million carats, mainly due to lower grades and reduced plant availability at Orapa. In addition, operational flexibility at the Venetia and Jwaneng tailings treatment plants was utilised to reduce production marginally in response to softer trading conditions.
Debswana's production decreased by 6% to 5.9 million carats, mainly due to Orapa output as described above.
Production at DBCM (South Africa) decreased by 5%, largely as a result of lower grades at the Venetia open-pit mine.
Production in Namibia decreased slightly as a result of lower grades and throughput at the land operations, due in part to short-term industrial action.
Production in Canada decreased by 11% due mainly to lower grades at Victor, together with lower volumes from Snap Lake which was affected by water management challenges.
Total rough diamond sales volumes (on a 100% basis including all sales by JVs) for the first six months of 2015 decreased on the prior half year by 26% to 14.0 million carats and consolidated sales volumes decreased by 27% to 13.3 million carats. This reflected relatively low levels of re-stocking by the midstream in 2015, in contrast with particularly strong sales conditions in the first half of 2014.
The De Beers rough price index was on average 4% lower for the first half of 2015 compared to the first half of 2014; however a 7% higher average realised selling price of $206 per carat was achieved, due to a higher quality product mix sold relative to the comparable period in 2014.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q2 2015 totalled $69 million, a decrease of 31%. Exploration expenditure was $34 million, a decrease of 17%, mainly attributable to Iron Ore and Diamonds. Evaluation expenditure for the quarter was $35 million, a decrease of 39%, primarily in the Kumba Iron Ore and Copper businesses.
PRODUCTION GUIDANCE
Anglo American will, as usual, update production guidance as part of its Interim Financial Results on 24 July 2015.
NOTE
This Production Report for the second quarter ended 30 June 2015 is unaudited.
PRODUCTION SUMMARY
The figures below include the entire output of consolidated entities and the Group's attributable share of joint operations, associates and joint ventures where applicable, except for De Beers' joint ventures which are quoted on a 100% basis.
Iron Ore (tonnes)
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Kumba Iron Ore










Lump
6,761,800
7,889,900
8,048,000
8,235,700
7,480,100
(14)%
(10)%
14,651,700
14,985,100
(2)%
Fines
3,622,900
4,277,500
4,383,600
4,736,400
3,984,900
(15)%
(9)%
7,900,400
7,807,700
1%
Total Kumba production
10,384,700
12,167,400
12,431,600
12,972,100
11,465,000
(15)%
(9)%
22,552,100
22,792,800
(1)%
Sishen
7,176,200
8,885,500
9,286,300
9,260,200
8,336,600
(19)%
(14)%
16,061,700
16,994,100
(5)%
Kolomela
2,880,300
2,972,500
2,727,800
3,379,000
2,948,400
(3)%
(2)%
5,852,800
5,461,300
7%
Thabazimbi
328,200
309,400
417,500
332,900
180,000
6%
82%
637,600
337,400
89%
Total Kumba production
10,384,700
12,167,400
12,431,600
12,972,100
11,465,000
(15)%
(9)%
22,552,100
22,792,800
(1)%
Kumba sales volumes










RSA export iron ore
11,732,600
11,471,600
11,699,000
9,058,800
10,287,200
2%
14%
23,204,200
19,709,900
18%
RSA domestic iron ore
1,348,000
1,434,600
901,800
1,129,200
1,374,000
(6)%
(2)%
2,782,600
2,788,800
0%
Minas-Rio










Pellet feed (wet basis)
1,826,200
1,176,700
687,700
-
-
55%
nm
3,002,900
-
nm
Minas-Rio sales volumes










Export - pellet feed (wet basis)
1,344,400
1,294,300
239,600
-
-
4%
nm
2,638,700
-
nm
Samancor










Manganese ore(1)
805,700
786,700
882,100
866,000
868,300
2%
(7)%
1,567,800
1,560,500
0%
Manganese alloys(1)(2)
53,600
72,800
80,400
 68,400
72,500
(26)%
(26)%
126,200
137,300
(8)%
Samancor sales volumes










Manganese ore
720,700
829,900
841,100
853,000
854,100
(13)%
(16)%
1,552,400
1,688,000
(8)%
Manganese alloys
55,300
63,600
72,800 
 68,400
74,400
(13)%
(26)%
118,900
153,600
(23)%


Coal (tonnes)
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Australia










Metallurgical - Export Coking
3,743,800
3,746,900
3,364,400
3,196,200
2,917,700
-
28%
7,490,700
6,881,700
9%
Metallurgical - Export PCI
1,508,800
1,248,800
1,395,800
1,493,900
1,441,800
21%
5%
2,757,600
3,101,100
(11)%

5,252,600
4,995,700
4,760,200
4,690,100
4,359,500
5%
20%
10,248,300
9,982,800
3%
Thermal - Export
1,326,600
1,433,200
1,871,600
1,574,600
958,400
(7)%
38%
2,759,800
1,727,700
60%
Thermal - Domestic
1,622,400
1,649,900
1,966,300
2,074,400
1,846,000
(2)%
(12)%
3,272,300
3,073,900
6%

2,949,000
3,083,100
3,837,900
3,649,000
2,804,400
(4)%
5%
6,032,100
4,801,600
26%
Canada










Metallurgical - Export Coking
-
-
160,200
385,000
439,200
-
-
-
848,400
-
Metallurgical - Export PCI
-
-
11,200
15,000
32,000
-
-
-
52,800
-

-
-
171,400
400,000
471,200
-
-
-
901,200
-
South Africa










Thermal - Export
 4,296,700 
4,341,700 
4,782,800
5,007,600 
4,273,600 
(1)%
1% 
 8,638,400 
8,422,700
3% 
Thermal - Domestic (Eskom)
 6,774,000 
6,950,700 
7,434,600
 8,000,200 
 8,146,800 
(3)%
(17)%
13,724,700 
15,553,700
(12)%
Thermal - Domestic 
(Non-Eskom)
 1,590,000 
 1,702,000 
1,761,400
 1,862,800 
 1,611,200 
(7)%
(1)%
 3,292,000 
2,970,700
11% 

12,660,700 
12,994,400 
13,978,800
14,870,600
14,031,600
(3)%
(10)%
25,655,100 
26,947,100
(5)%
Colombia










Thermal - Export
2,944,400
2,975,000
3,002,300
2,368,800
2,907,700
(1)%
1%
5,919,400
5,855,900
1%

2,944,400
2,975,000
3,002,300
2,368,800
2,907,700
(1)%
1%
5,919,400
5,855,900
1%
Total Metallurgical coal production
5,252,600
4,995,700
4,931,600
5,090,100
4,830,700
5%
9%
10,248,300
10,884,000
(6)%
Total Export Thermal coal production
8,567,700
8,749,900
9,656,700
8,951,000
8,139,700
(2)%
5%
17,317,600
16,007,800
8%
Total Domestic Thermal coal production
9,986,400
10,302,600
11,162,300
11,937,400
11,604,000
(3)%
(14)%
20,289,000
21,596,900
(6)%
Total Coal production
23,806,700
24,048,200
25,750,600
25,978,500
24,574,400
(1)%
(3)%
47,854,900
48,488,600
(1)%
Sales volumes (own mined)










Australia and Canada










Metallurgical - Export(4)
5,103,100
5,113,400
5,025,600
5,003,800
5,152,600
-
(1)%
10,216,500
10,538,800
(3)%
Thermal - Export
1,505,800
1,418,200
2,345,400
1,703,800
897,300
6%
68%
2,924,000
1,917,000
53%
Thermal - Domestic
1,670,500
1,591,000
1,989,400
2,102,300
1,870,000
5%
(11)%
3,261,500
3,201,400
2%
South Africa










Thermal - Export
4,967,400
5,195,200 
5,139,300
4,473,700
3,982,500
(4)%
25%
10,162,600 
7,959,700
28%
Thermal - Domestic
8,203,900
8,746,600
8,770,400
9,690,900
9,677,500
(6)%
(15)%
16,950,500 
18,756,100
(10)%
Colombia










 Thermal - Export
2,765,700
3,005,100
2,732,000
3,076,800
2,858,100
(8)%
(3)%
5,770,800
5,505,400
5%
Coal by mine (tonnes)
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Australia










Callide
1,789,300
1,857,000
2,164,700
2,318,500
1,844,600
(4)%
(3)%
3,646,300
3,073,800
19%
Capcoal 
(incl. Grasstree)
1,793,500
2,259,100
2,074,300
1,816,300
1,847,500
(21)%
(3)%
4,052,600
3,752,200
8%
Dawson
1,375,500
663,800
1,074,800
1,041,400
1,101,200
107%
25%
2,039,300
2,124,000
(4)%
Drayton
462,800
707,500
920,200
817,000
708,500
(35)%
(35)%
1,170,300
1,367,600
(14)%
Foxleigh
511,200
478,300
579,200
551,200
471,200
7%
8%
989,500
904,100
9%
Grosvenor
121,800
51,600
-
-
-
136%
nm
173,400
-
nm
Jellinbah
766,400
763,900
757,100
732,800
756,300
-
1%
1,530,300
1,433,800
7%
Moranbah North
1,381,100
1,297,600
1,027,800
1,061,900
434,600
6%
218%
2,678,700
2,128,900
26%

8,201,600
8,078,800
8,598,100
8,339,100
7,163,900
2%
14%
16,280,400
14,784,400
10%
Canada










Peace River Coal
-
-
171,400
400,000
471,200
-
-
-
901,200
-

-
-
171,400
400,000
471,200
-
-
-
901,200
-
South Africa










Goedehoop
 1,106,100 
1,133,800
1,245,800
1,210,200
1,177,200
(2)%
(6)%
 2,239,900 
2,315,600
(3)%
Greenside
 992,300 
927,500
1,010,700
1,003,400
806,500
7% 
23% 
 1,919,800 
1,610,000
19% 
Zibulo
 1,385,000 
1,281,100
1,367,900
1,450,000
1,122,500
8% 
23% 
 2,666,100 
2,235,900
19% 
Kleinkopje
 572,000 
860,300
950,200
1,011,500
1,142,700
(34)%
(50)%
 1,432,300 
1,950,200
(27)%
Landau
 1,065,000 
979,900
1,208,800
1,195,900
870,900
9% 
22% 
 2,044,900 
3,773,600
15% 
Mafube
 344,500 
361,500
414,700
525,400
413,500
(5)%
(17)%
 706,000 
735,300
(4)%
New Vaal
 4,211,200 
3,548,600
3,701,400
4,755,200
4,321,200
19% 
(3)%
 7,759,800 
8,216,200
(5)%
New Denmark
 441,100 
872,600
1,312,400
724,900
1,091,800
(49)%
(60)%
 1,313,700 
1,730,600
(24)%
Kriel
 1,546,000 
1,813,300
1,462,400
1,614,000
1,756,200
(15)%
(12)%
 3,359,300 
3,801,700
(11)%
Isibonelo
 997,500 
1,215,800
1,304,500
1,380,100
1,329,100
(18)%
(25)%
 2,213,300 
2,578,000
(14)%

12,660,7000
12,994,400
13,978,800
14,870,600
14,031,600
(3)%
(10)%
25,655,100 
26,947,100
(5)%
Colombia










Carbones del Cerrejn
2,944,400
2,975,000
3,002,300
2,368,800
2,907,700
(1)%
1%
5,919,400
5,855,900
1%
2,944,400
2,975,000
3,002,300
2,368,800
2,907,700
(1)%
1%
5,919,400
5,855,900
41%
Total Coal production
23,806,700
24,048,200
25,750,600
25,978,500
24,574,400
(1)%
(3)%
47,854,900
48,488,600
(1)%

Copper (tonnes) on a contained metal basis unless stated otherwise(5)
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Collahuasi 100% basis (Anglo American share 44%)










Ore mined
20,130,700
18,094,700
15,594,200
16,442,500
16,248,500
11%
24%
38,225,400
33,808,600
13%
Ore processed - Oxide
1,835,700
1,333,300
1,552,300
1,744,800
1,659,900
38%
11%
3,169,000
3,360,400
(6)%
Ore processed - Sulphide
10,464,200
11,060,300
11,991,600
11,689,600
13,194,500
(5)%
(21)%
21,524,500
25,254,900
(15)%
Ore grade processed - Oxide 
(% ASCu)(6)
0.60
0.69
0.68
0.78
0.72
(13)%
(17)%
0.64
0.72
(12)%
Ore grade processed - Sulphide (% TCu)(7)
1.15
1.08
1.10
1.12
1.03
6%
12%
1.12
1.06
5%
Production - Copper cathode
6,600
6,500
9,100
6,200
4,400
2%
50%
13,100
9,700
35%
Production - Copper in concentrate
105,500
98,000
110,400
104,000
117,400
8%
(10)%
203,500
231,000
(12)%
Total copper production for Collahuasi
112,100
104,500
119,500
110,200
121,800
7%
(8)%
216,600
240,700
(10)%
Anglo American's share of copper production for Collahuasi(8)
49,300
46,000
52,600
48,500
53,600
7%
(8)%
95,300
105,900
(10)%
Anglo American Sur 










Los Bronces mine(9)










Ore mined
13,345,700
13,548,000
15,655,600
14,215,400
15,483,900
(1)%
(14)%
26,893,700
27,795,200
(3)%
Marginal ore mined
10,929,100
8,916,800
8,993,400
7,012,900
4,949,400
23%
121%
19,845,900
10,229,800
94%
Ore processed - Sulphide
10,447,300
9,250,100
12,739,000
14,202,100
13,911,500
13%
(25)%
19,697,400
27,206,600
(28)%
Ore grade processed - Sulphide (% TCu)
0.98
1.07
0.75
0.71
0.81
(8)%
21%
1.02
0.84
22%
Production - Copper cathode
7,800
9,000
8,300
9,100
8,900
(13)%
(12)%
16,800
18,800
(11)%
Production - Copper in concentrate
89,600
85,700
78,900
86,600
97,100
5%
(8)%
175,300
202,800
(14)%
Production total
97,400
94,700
87,200
95,700
106,000
3%
(8)%
192,100
221,600
(13)%
El Soldado mine(9)










Ore mined
1,915,700
1,060,800
563,900
210,700
450,300
81%
325%
2,976,500
2,343,800
27%
Ore processed - Sulphide
1,752,100
1,214,000
1,762,700
1,806,600
1,777,400
44%
(1)%
2,966,100
3,634,300
(18)%
Ore grade processed - Sulphide (% TCu)
0.71
0.66
0.55
0.53
0.58
8%
22%
0.69
0.63
9%
Production - Copper cathode
0
200
400
300
300
(100)%
(100)%
200
500
(60)%
Production - Copper in concentrate
10,000
5,900
7,000
6,400
8,100
69%
23%
15,900
17,800
(11)%
Production total
10,000
6,100
7,400
6,700
8,400
64%
19%
16,100
18,300
(12)%
Chagres Smelter(9)










Ore smelted
36,200
37,100
28,900
33,300
33,200
(2)%
9%
73,300
69,900
5%
Production
35,300
36,000
28,300
32,300
32,400
(2)%
9%
71,300
67,900
5%
Total copper production for Anglo American Sur
107,400
100,800
94,600
102,400
114,400
7%
(6)%
208,200
239,900
(13)%
Anglo American Norte










Mantos Blancos mine










Ore processed - Sulphide
1,043,300
1,073,800
1,059,300
1,156,100
1,109,000
(3)%
(6)%
2,117,100
2,187,000
(3)%
Ore grade processed - Sulphide (% TCu)
0.79
0.75
0.75
0.68
0.64
5%
23%
0.77
0.62
24%
Production - Copper cathode
8,500
6,900
7,300
6,500
7,900
23%
8%
15,400
12,900
19%
Production - Copper in concentrate
6,800
6,800
6,800
6,500
6,300
0%
8%
13,600
12,400
10%
Production total
15,300
13,700
14,100
13,000
14,200
12%
8%
29,000
25,300
15%
Mantoverde mine










Ore processed - Oxide
2,487,900
2,279,400
2,582,100
2,634,100
2,566,100
9%
(3)%
4,767,300
5,096,600
(6)%
Ore processed - Marginal ore 
2,790,000
1,496,800
2,274,500
2,077,300
2,189,100
86%
27%
4,286,800
4,294,300
(0)%
Ore grade processed - Oxide (% ASCu) 
0.54
0.51
0.49
0.47
0.48
8%
13%
0.53
0.49
7%
Ore grade processed - Marginal ore (% ASCu)
0.21
0.22
0.23
0.23
0.23
(3)%
(9)%
0.21
0.24
(12)%
Production - Copper cathode
12,500
11,300
13,500
13,000
12,200
11%
2%
23,800
25,300
(6)%
Total copper production for Anglo American Norte
27,800
25,000
27,600
26,000
26,400
11%
5%
52,800
50,600
4%
Total Copper segment copper production
247,300
230,300
241,700
238,600
262,600
7%
(6)%
477,600
531,200
(10)%
Total Attributable copper production(10)
184,500
171,800
174,800
176,900
194,400
7%
(5)%
356,300
396,400
(10)%
Total Attributable payable copper production
179,000
166,800
169,700
171,700
186,600
7%
(4)%
345,800
384,500
(10)%
Total Attributable sales volumes
179,400
164,800
187,400
179,300
180,800
9%
(1)%
344,200
388,400
(11)%
Total Attributable payable sales volumes
173,800
160,100
181,700
173,900
175,400
9%
(1)%
333,900
377,000
(11)%
Nickel (tonnes) unless stated otherwise (11)
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Barro Alto










Ore mined
903,300
235,300
400,500
1,019,300
736,600
284%
23%
1,138,600
1,090,600
4%
Ore processed
281,100
294,600
276,000
531,900
555,500
(5)%
(49)%
575,700
1,019,500
(44)%
Ore grade processed - %Ni
1,80
1.77
1.86
1.86
1.78
1%
1%
1,78
1.78
0%
Production
4,100
4,400
4,500
8,300
8,600
(7)%
(52)%
8,400
15,500
(46)%
Codemin










Ore mined
8,600
-
-
-
6,800
-
26%
8,600
6,800
26%
Ore processed
145,700
151,400
151,500
154,100
140,800
(4)%
3%
297,100
288,000
3%
Ore grade processed - %Ni
1.71
1.66
1.66
1.67
1.67
3%
2%
1,68
1.67
1%
Production
2,200
2,300
2,200
2,400
2,000
(4)%
10%
4,500
4,300
5%
Total Nickel segment nickel production
6,300
6,700
6,700
10,700
10,600
(6)%
(41)%
13,000
19,800
(34)%
Sales volumes
8,600
7,500
8,400
8,800
8,900
15%
(4)%
16,100
18,900
(15)%
Niobium (tonnes) unless stated otherwise
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Niobium










Ore mined
605,600
291,100
166,300
424,900
356,200
108%
70%
896,700
394,700
127%
Ore processed
570,400
501,800
377,700
237,900
238,700
14%
139%
1,072,200
468,400
129%
Ore grade processed - %Nb
0.93
0.96
1.05
1.08
1.10
(3)%
(15)%
0.95
1.01
(6)%
Production
1,600
1,300
1,300
1,200
1,100
23%
45%
2,900
2,200
32%
Sales volumes
1,500
1,300
1,100
1,200
1,200
15%
25%
2,800
2,300
22%
Phosphates (tonnes) unless stated otherwise
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Phosphates










Concentrate
303,300
319,300
355,600
362,700
349,500
(5)%
(13)%
622,600
697,400
(11)%
Concentrate grade - %P2O5
36.9
36.9
36.8
37.3
37.1
0%
(0)%
36.9
37.0
(0)%
Phosphoric acid
62,400
63,200
78,600
81,300
81,300
(1)%
(23)%
125,600
135,100
(7)%
Fertiliser
274,200
238,800
284,900
284,700
275,700
15%
(1)%
513,000
542,900
(6)%
High analysis fertiliser
56,100
37,500
50,200
60,200
44,200
50%
27%
93,700
74,300
26%
Low analysis fertiliser
218,100
201,200
234,600
224,500
231,500
8%
(6)%
419,300
468,600
(10)%
Dicalcium phosphate (DCP)
38,700
36,200
44,800
44,100
43,600
7%
(11)%
74,900
75,200
(0)%
Fertiliser sales volumes
317,500
208,500
277,400
311,700
241,000
52%
32%
526,000
507,500
4%
Platinum
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Refined production










Platinum (troy oz)
560,600
542,400
573,700
460,000
420,600
3%
33%
1,103,000
855,800
29%
Palladium (troy oz)
387,700
348,100
357,700
316,400
294,600
11%
32%
735,800
551,300
33%
Rhodium (troy oz)
76,900
65,000
71,700
48,400
48,700
18%
58%
141,900
109,300
30%
Copper refined (tonnes)(12)
4,000
3,900
2,600
2,800
3,900
3%
3%
7,900
7,100
11%
Copper matte (tonnes)(12)
0
300
1,400
1,300
2,300
(100)%
(100)%
300
3,500
(91)%
Nickel refined (tonnes)(12)
6,000
5,700
4,800
5,200
5,600
5%
7%
11,700
10,500
11%
Nickel matte (tonnes)(12)
0
400
1,800
 1,800 
2,700
(100)%
(100)%
400
4,100
(90)%
Gold (troy oz)
30,400
30,100
28,900
14,600
26,700
1%
14%
60,500
52,100
16%
Equivalent refined










Platinum (troy oz)
572,100
536,000
593,900
532,800
358,200
7%
60%
1,108,100
715,200
55%
4E built-up head grade (g/tonne milled)(13)
3.27
3.14
3.19
3.06
2.77
4%
18%
3.21
2.82
14%
Platinum sales volumes
635,600
523,900
523,400
546,600
511,900
21%
24%
1,159,500
1,044,800
11%
De Beers
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q2 2015
vs.
Q1 2015
Q2 2015
vs.
Q2 2014
H1
2015
H1
2014
H1 2015 vs.
H1 2014
Carats recovered










100% basis
Orapa
2,792,000
2,610,000
2,732,000
2,651,000
3,487,000
7%
(20)%
5,402,000
6,691,000
(19)%
Letlhakane
111,000
188,000
83,000
157,000
177,000
(41)%
(37)%
299,000
308,000
(3)%
Damtshaa
60,000
57,000
94,000
83,000
70,000
5%
(14)%
117,000
126,000
(7)%
Jwaneng
2,950,000
2,777,000
3,080,000
3,333,000
2,532,000
6%
17%
5,727,000
4,899,000
17%
Debswana
5,913,000
5,632,000
5,989,000
6,224,000
6,266,000
5%
(6)%
11,545,000
12,024,000
(4)%











Namdeb
131,000
96,000
121,000
156,000
199,000
36%
(34)%
227,000
336,000
(33)%
Debmarine Namibia
300,000
366,000
375,000
293,000
310,000
(18)%
(3)%
666,000
605,000
10%
Namdeb Holdings
431,000
462,000
496,000
449,000
509,000
(7)%
(15)%
893,000
941,000
(5)%











Kimberley
182,000
221,000
202,000
207,000
154,000
(18)%
18%
403,000
313,000
29%
Venetia
763,000
624,000
1,060,000
776,000
834,000
22%
(9)%
1,387,000
1,365,000
2%
Voorspoed
172,000
216,000
140,000
143,000
186,000
(20)%
(8)%
388,000
428,000
(9)%
DBCM
1,117,000
1,061,000
1,402,000
1,126,000
1,174,000
5%
(5)%
2,178,000
2,106,000
3%











Snap Lake
352,000
328,000
301,000
253,000
379,000
7%
(7)%
680,000
647,000
5%
Victor
150,000
182,000
178,000
141,000
187,000
(18)%
(20)%
332,000
328,000
1%
De Beers Canada
502,000
510,000
479,000
394,000
566,000
(2)%
(11)%
1,012,000
975,000
4%
Total carats recovered
7,963,000
7,665,000
8,366,000
8,193,000
8,515,000
4%
(6)%
15,628,000
16,046,000
(3)%
(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) Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi
(11) Excludes Anglo American Platinum's nickel production
(12) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte.
(13) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold

ACHIEVED PRICES SUMMARY
Average achieved prices
H1 2015
H2 2014
H1 2014
FY 2014
H1 2015
vs.
H2 2014
H1 2015
vs.
H1 2014
Iron Ore - FOB prices






Kumba Export (US$/dmt)
61
80
104
91
(23)%
(41)%
Minas-Rio (US$/wmt)
50
nm
-
nm
n/a
n/a
Coal






Australia and Canada






Metallurgical - Export (U$/t) 
100
105
117
111
(5)%
(15)%
Thermal - Export (U$/t)
61
68
81
72
(10)%
(25)%
Thermal - Domestic (U$/t, FOR)
29
33
37
35
(12)%
(22)%
South Africa






Thermal - Export (U$/t)
60
66
75
70 
(9)%
(20)%
Thermal - Domestic (U$/t, FOR)
18
20
19
 19 
(10)%
(5)%
Colombia






Thermal - Export (U$/t)
58
66
68
67
(12)%
(15)%
Copper (USc/lb)
253
294
307
300
(14)%
(18)%
Nickel (USc/lb)
578
749
716
731
(23%)
(19%)
PGMs 






Platinum (US$/oz)
1,160 
1,337 
1,436
1,386
(13)% 
(19)%
Palladium (US$/oz)
779 
832 
773
803
(6)% 
1%
Rhodium (US$/oz)
1,133 
1,234 
1,069
1,147
(8)% 
 6%
Basket price (US$/oz)
2,157 
2,355 
2,474
2,413
(8)% 
(13)% 
Basket price (ZAR/oz)
25,748
25,951 
26,493
26,219
(1)% 
(3)%
De Beers 






Total sales volume - carats (100%) (Mct)
14.0
15.4
19.0
34.4
(9)%
(26)%
Total consolidated sales volume - carats (Mct) 
13.3
14.6
18.1
32.7
(9)%
(27)%
Consolidated average realised price ($/Ct)
206
204
192
198
1%
7%
De Beers Index price (1)
139
149
145
147
(7)%
(4)%
(1) Average of the De Beers index price for the Sights within the six month period. De Beers index price relative to 100 as at December 2006


Note:
Production figures are sometimes more precise than the rounded numbers shown in the commentary of this report. The percentage change will reflect the percentage change using the production figures shown in the Production Summary of this report.
Forward-looking statements:
This contains certain forward looking statements which involve risk and uncertainty because they relate to events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.
For further information, please contact:
Media
Investors
UK
James Wyatt-Tilby
Tel: +44 (0)20 7968 8759
UK
Paul Galloway
Tel: +44 (0)20 7968 8718
Emily Blyth
Tel: +44 (0)20 7968 8481
Edward Kite
Tel: +44 (0)20 7968 2178
South Africa
Pranill Ramchander
Tel: +27 (0)11 638 2592
Shamiela Letsoalo
Tel: +27 (0)11 638 3112
Sarah McNally
Tel: +44 (0)20 7968 8747
Notes to editors:
Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. 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 bulk commodities and base metals to precious metals and diamonds (through De Beers) - to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of 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. Our mining operations, growth projects and exploration and marketing activities extend across 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
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MSCGGURAMUPAGMA