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

Anglo AmericanAnnouncement

20/07/2016 07:05

RNS Number : 6601E
Anglo American PLC
20 July 2016
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/6601E_-2016-7-19.pdf
20 July 2016
Anglo American plc
Production Report for the second quarter ended 30 June 2016
Overview
Q2 2016
Q2 2015
% vs. Q2 2015
H1 2016
H1 2015
% vs. H1 2015
Diamonds (Mct)(1)
6.4
8.0
(19)%
13.3
15.6
(15)%
Platinum (produced ounces) (koz)(2)
586
581
1%
1,153
1,125
2%
Copper retained operations (t)(3) (4) (5)
144,200
156,800
(8)%
290,700
303,600
(4)%
Nickel (t)(6)
11,100
6,300
76%
22,300
13,000
72%
Iron ore - Kumba (Mt)
8.9
10.4
(15)%
17.8
22.6
(21)%
Iron ore - Minas-Rio (Mt)(7)
3.5
1.8
91%
6.8
3.0
128%
Export metallurgical coal (Mt)
5.5
5.3
4%
10.0
10.2
(2)%
Export thermal coal (Mt)
8.1
8.6
(6)%
15.7
17.3
(9)%
Mark Cutifani, Anglo American Chief Executive, said "The Q2 2016 operating results are in line with the equivalent period of 2015 on a copper equivalent basis(8). We are building upon the improving operational trend from the first quarter as we recover refined platinum production and continue to ramp-up Minas-Rio, Grosvenor and Barro Alto. We also continue to demonstrate discipline in our key markets, particularly diamonds and platinum, in line with our focus on higher margin and lower cost assets. The decisive actions taken by De Beers last year led to more normal trading conditions in the first half of 2016 with sales volumes increasing as a result, but we maintain a cautious outlook."
Diamond production decreased by 19% to 6.4 million carats, reflecting the decision to reduce production in response to prevailing trading conditions in H2 2015.
Platinum production (expressed as metal in concentrate)(2) increased by 1% to 585,700 ounces, whilst refined platinum production increased by 33% to 747,600 ounces, reflecting the recovery at the Precious Metals Refinery after a planned stocktake and safety stoppage in Q1 2016.
Copper production from the retained operations (excluding the AA Norte assets sold effective 1 September 2015) decreased by 8% to 144,200 tonnes. Expected lower grades and significant snowfall impacted operations at Los Bronces, albeit partly offset by plant stability improvements at Collahuasi.
Nickel production increased by 76% to 11,100 tonnes following the successful completion of the Barro Alto furnace rebuilds in 2015.
Iron ore production from Kumba decreased by 15% to 8.9 million tonnes as Sishen restructured (downsized) and transitioned the operations to a lower cost pit configuration.
Iron ore production from Minas-Rio increased by 91% to 3.5 million tonnes (wet basis) as the operation continues its ramp-up.
Export metallurgical coal production increased by 4% to 5.5 million tonnes due to first longwall production at Grosvenor in May and a longwall move at Grasstree in the prior year, partially offset by ramp-up at Moranbah after the completion of the longwall move in the prior quarter.
Export thermal coal production decreased by 6% to 8.1 million tonnes due to ramping down production at Drayton where mining activities will cease in late 2016 and planned production cuts at Cerrejn, partly offset by higher production at most South African Export operations.
(1) De Beers production on 100% basis; (2) In keeping with industry benchmarks, production disclosure has been amended to reflect own mine production and purchases of metal in concentrate. Previous disclosure of own mine production and purchases of metal in concentrate was converted to equivalent refined production using standard smelting and refining recoveries; (3) Copper production from the Copper business unit; (4) Copper production shown on a contained metal basis; (5) 2015 Copper production normalised for the sale of Anglo Norte; (6) Nickel production from the Nickel business unit; (7) Wet basis; (8) Copper equivalent production is normalised for the sale of Anglo American Norte and the Kimberley mine, and to reflect Snap Lake being placed on care and maintenance.
DE BEERS
Diamonds
(100% basis)
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Diamonds
000 carats
6,448
7,963
(19)%
6,866
(6)%
13,314
15,628
(15)%
De Beers - Diamond production decreased by 19% to 6.4 million carats, reflecting the decision to reduce production in response to prevailing trading conditions in H2 2015.
At Debswana (Botswana), production decreased by 12% to 5.2 million carats with Orapa reduced by 27% and the placing of Damtshaa on care and maintenance from 1 January 2016.
Production at DBCM (South Africa) decreased by 26% to 0.8 million carats due mainly to the completion of the sale of Kimberley Mines in January 2016.
Production at Namdeb Holdings (Namibia) decreased by 31% to 0.3 million carats with reduced production at Debmarine Namibia because of extended planned in-port maintenance of the Mafuta vessel and lower grades at Namdeb's Land operations.
Production in Canada decreased by 71% to 0.1 million carats due to Snap Lake being placed on care and maintenance in December 2015. Production at Victor was in line with Q2 2015.
Consolidated rough diamond sales in Q2 2016 were 9.6 million carats (from three Sights) compared with 4.9 million carats (from two Sights) in Q2 2015. Apart from the additional Sight in 2016, this increase reflected higher midstream restocking from lower inventory levels in 2015. Consolidated sales volumes for H1 2016 were 17.2 million carats, compared with 13.3 million carats for H1 2015 (from five Sights, in each case).
The De Beers rough price index was on average 16% lower in H1 2016 compared with H1 2015. The average realised price at $177/ct was 14% lower than H1 2015.
Full Year Guidance
Full year production guidance (on a 100% basis) remains unchanged at 26-28 million carats, subject to trading conditions.
PLATINUM
Platinum
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Refined
Platinum
000 oz
748
561
33%
261
187%
1,008
1,103
(9)%
Palladium
000 oz
472
388
22%
182
160%
654
736
(11)%
Rhodium
000 oz
91
77
18%
48
90%
138
142
(2)%
Copper - Refined
t
3,700
4,000
(8)%
3,300
12%
7,000
7,900
(11)%
Copper - Matte(1)
t
0
0
0%
0
0%
0
300
(100)%
Nickel - Refined
t
6,400
6,000
7%
5,700
12%
12,100
11,700
3%
Nickel - Matte(1)
t
0
0
0%
0
0%
0
400
(100)%
Gold
000 oz
22
30
(27)%
28
(20)%
50
61
(17)%
Produced ounces(2)
Platinum
000 oz
586
581
1%
567
3%
1,153
1,125
2%
(1) Copper and nickel refined through third parties is shown as production of copper matte and nickel matte.
(2) In keeping with industry benchmarks, production disclosure has been amended to reflect own mine production and purchases of metal in concentrate. Previous disclosure of own mine production and purchases of metal in concentrate was converted to equivalent refined production using standard smelting and refining recoveries.
Platinum-Production (metal in concentrate) increased by 1% to 585,700 ounces.
Mogalakwena production decreased by 3% to 98,800 ounces. Whilst milled volumes increased by 6%, a return to normalised lower grades in Q2 resulted in the 3% decrease.
Amandelbult production increased by 1% to 106,200 ounces. Strong mining performance was mostly offset by a fatal incident on 26 April 2016 which resulted in a mine stoppage and a loss of 18,000 ounces of production.
Unki production increased by 12% to 17,800 ounces. Improved underground mining efficiencies, which resulted in increased milled volume were complemented by a 9% increase in grade. 
Independently managed production (mined and purchased, but excluding third party purchase of concentrate) increased by 9% to 203,200 ounces, driven by strong production performances from Mototolo, Modikwa, BRPM and Kroondal, partly offset by Bokoni.
Platinum production from Rustenburg operations including the Western Limb Tailings Retreatment was 8% lower at 112,300 ounces. Production was impacted by a fatal incident, the impact of mining through difficult ground areas and marginally lower grade. This was partly offset by an increase in tailings retreatment production.
Following the significant restructuring at Union, the mine continued to improve performance against its optimised mine plan with production 31% higher at 41,200 ounces mainly due to improved underground mining efficiencies and increased stability at the concentrator plant. 
Refined platinum production increased by 33% to 747,600 ounces. The increase is a result of refining the backlog of product not delivered in Q1 2016 as a result of a planned stock take at the Precious Metals Refinery (PMR), together with a Section 54 Stoppage which closed the PMR for 12 days and materially impacted production for a further 37 days. The remainder of the shortfall in refined production is expected to be caught up in Q3 2016.
Full Year Guidance
Full year production guidance (metal in concentrate) remains unchanged at between 2.3-2.4 million ounces.
COPPER
Copper(1)
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Copper retained operations(2)
t
144,200
156,800
(8)%
146,500
(2)%
290,700
303,600
(4)%
Copper
t
144,200
184,500
(22)%
146,500
(2)%
290,700
356,300
(18)%
(1) Copper production shown on a contained metal basis
(2) Anglo American Norte excluded for all periods
Copper - Copper production from the retained operations (excluding AA Norte assets sold effective 1 September 2015) decreased by 8% to 144,200 tonnes and by 2% compared to Q1 2016.
Production from Los Bronces decreased by 22% to 75,600 tonnes primarily due to expected lower grades, as well as unseasonal and extremely high levels of snowfall which hampered operations at the mine during Q2 restricting access to high grade ore zones (0.62% vs. 0.98%). This was partially offset by no further water restrictions which impacted production in the first half of 2015.
At Collahuasi, attributable production increased by 14% to 56,200 tonnes due to improved plant stability and operating times following rectification work undertaken in 2015, combined with higher grades (1.21% vs. 1.15%).
El Soldado production increased by 24% to 12,400 tonnes due to the increasing availability of higher grade ore, in line with the revised mine plan. On the 8 July 2016 the unionised workforce at El Soldado went on strike after rejecting the offer made by the company as part of the collective bargaining process.
At the end of H1 2016, Anglo American had 155,300 tonnes of copper provisionally priced at 220c/lb. The final price of these sales will be determined in H2 2016. The realised copper price for the first half to 215c/lb.
Full Year Guidance
Owing to the severe winter weather experienced at Los Bronces during the quarter, which limited mine extraction and the ability to mine the higher altitude, higher-grade phases, full year production guidance has been revised down to 570,000 - 600,000 tonnes for 2016 (previously 600,000 - 630,000 tonnes), and 570,000 - 600,000 tonnes for 2017 (previously 590,000 - 620,000 tonnes).
NICKEL
Nickel
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Nickel
t
11,100
6,300
76%
11,200
(1)%
22,300
13,000
72%
Nickel - Nickel production increased by 76% to 11,100 tonnes following the successful rebuild of both Barro Alto furnaces, which are now producing at close to nameplate capacity. Production from Codemin remained in line with Q2 2015 at 2,300 tonnes.
Full Year Guidance
Full year production guidance remains unchanged at 45,000 - 47,000 tonnes. 
NIOBIUM 
Niobium
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Niobium
t
1,200
1,600
(25)%
1,400
(14)%
2,600
2,900
(10)%
Niobium - Niobium production decreased by 25% to 1,200 tonnes due to a planned stoppage in May to implement a downstream metallurgy project. Subsequent plant performance has been strong, with an all-time production record achieved in June.
PHOSPHATES
Phosphates 
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Phosphates
Concentrate
t
 358,000
303,300
18%
333,100
7%
691,100
622,600
11%
Phosphoric acid
t
73,600
62,400
18%
79,100
(7)%
152,700
125,600
22%
Fertiliser
t
285,900
274,200
4%
274,900
4%
560,800
513,000
9%
Dicalcium phosphate (DCP)
t
41,500
38,700
7%
31,500
32%
73,000
74,900
(3)%
Phosphates - Concentrate production increased by 18% due to softer material feed to the plant. Fertiliser production increased by 4%, mainly due to strong performance at the granulation plants and good plant conditions allowing a combination of the January and March maintenance programmes. Phosphoric acid production increased by 18% due to increased plant stability and higher equipment availability at both sites. DCP production increased by 7% following stable process and phosphoric acid availability.
IRON ORE AND MANGANESE
Iron Ore and Manganese 
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Iron ore - Kumba
000 t
8,864
10,385
(15)%
8,925
(1)%
17,788
22,552
(21)%
Iron ore - Minas-Rio(1)
000 t
3,484
1,826
91%
3,349
4%
6,833
3,003
128%
Manganese ore(2)
000 t
791
806
(2)%
776
2%
1,567
1,568
0%
Manganese alloys(3)
000 t
30
54
(45)%
32
(7)%
62
126
(51)%
(1) Wet basis
(2) Saleable production 
(3) Production includes medium carbon ferro-manganese
Kumba Iron Ore - Iron ore production decreased by 15% to 8.9 million tonnes.
Sishen production decreased by 21% to 5.7 million tonnes, whilst waste removal decreased to 31 million tonnes compared to 58 million tonnes in Q2 2015. The reduction in production and waste volumes was consistent with the mine's lower cost pit configuration, although run rates for the quarter were lower than expected due to the significant restructuring and ~31% reduction in the workforce at Sishen. Production was further exacerbated by higher than normal levels of rainfall and a safety related stoppage. Solutions have been implemented which have already shown improvements in mine flexibility and run rates on key operating parameters during June in line with full year production guidance of ~27Mt.
Kolomela production increased by 10% to 3.2 million tonnes, due to increased plant throughput. 
At Thabazimbi there was no production in the quarter after mining activities ceased on 30 September 2015 and processing activities ceased on 31 March 2016. Closure of the mine is proceeding according to plan.
Export sales decreased by 26% to 8.7 million tonnes due to lower production. Total finished product stocks were 2.3 million tonnes, compared with 4.7 million tonnes at year end as stocks were drawn-down further.
Full Year Guidance
Full year production guidance for Sishen remainsunchanged at ~27million tonnes and waste volumes of between 135-150 million tonnes. Kolomela remains on track toproduce ~12 million tonnes and waste volumes of 46-48 million tonnes. 
Iron Ore Brazil - Iron ore production from Minas-Rio increased by 91% to 3.5 million tonnes (wet basis) during Q2 2016, a 4% increase compared to Q1 2016, as the operation continues its ramp-up. The constrained pit and ongoing licence processes have resulted in lower than anticipated quality run-of-mine material. On 7 July 2016 a provisional approval was granted for the next phase of licensing, which has allowed immediate access to the next tranche of reserves.
Full Year Guidance
Due to the pit constraint, full year production guidance for Iron Ore Brazil has been revised to 15-17 million tonnes (previously 15-18 million tonnes) (wet basis).
Manganese ore - Manganese ore production was broadly in line with Q2 2015.
Manganese alloy - Manganese alloy production decreased by 45% following the restructuring of South Africa Manganese operations due to market conditions. In May 2015, operations were suspended at three of the four furnaces at Metalloys in South Africa.
COAL
Coal 
Q2
2016
Q2
2015
Q2 2016
vs.
Q2 2015
Q1
2016
Q2 2016
vs.
Q1 2016
H1
2016
H1
2015
H1 2016 vs. 
H1 2015
Australia 
Metallurgical - Export
000 t
5,483
5,253
4%
4,526
21%
10,009
10,248
(2)%
Thermal - Export
000 t
1,107
1,327
(17)%
1,066
4%
2,173
2,760
(21)%
Thermal - Domestic 
000 t
1,717
1,622
6%
1,493
15%
3,210
3,272
(2)%
South Africa
Thermal - Export 
000 t
4,656
4,297
8%
3,976
17%
8,632
8,638
0%
Thermal - Domestic (Eskom)
000 t
6,709
6,774 
(1)%
6,392
5%
13,101
13,725
(5)%
Thermal - Domestic (Non-Eskom)
000 t
1,824
1,590 
15%
1,804
1%
3,628
3,292 
10%
Colombia
Thermal - Export
000 t
2,330
2,944
(21)%
2,610
(11)%
4,940
5,919
(17)%
Australia - Export metallurgical coal production increased by 4% to 5.5 million tonnes due to first longwall production at Grosvenor in May and a longwall move at Grasstree in the prior year. These increases offset lower production at Moranbah which was ramping-up after the completion of the longwall move in Q1 2016.
Australian export thermal coal production decreased by 17% to 1.1 million tonnes as Drayton ramps down to cease mining operations in late 2016 following the NSW Planning Assessment Commission recommendation not to approve the Drayton South Project.
South Africa - Export thermal coal production increased by 8% to 4.7 million tonnes. Production increased across nearly all operations due to productivity improvements.
Eskom related production was broadly unchanged.
Domestic non-Eskom production increased by 15% to 1.8 million tonnes mainly due to Zibulo and Landau export production re-directed to the domestic market generating a higher margin.
Colombia - Cerrejn's attributable production decreased by 21% to 2.3 million tonnes due to heavy rainfall in May and June, and ongoing planned production cuts to take out the highest cost capacity in response to market conditions.
Full Year Guidance
Full year production guidance for export metallurgical coal remains unchanged at 21-22 million tonnes. This is subject to the completion of any asset disposals. 
Full year production guidance for export thermal coal from South Africa and Colombia remains unchanged at 28-30 million tonnes.
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for the quarter totalled $45 million, a decrease of 35%. Exploration expenditure for the quarter totalled $24 million, a decrease of 31%. Evaluation expenditure for the quarter totalled $22 million, a decrease of 40%.
NOTE
This Production Report for the second quarter ended 30 June 2016 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.
De Beers
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Carats recovered
100% basis
Orapa
2,028,000
2,001,000
2,516,000
1,959,000
2,792,000
1%
(27)%
4,029,000
5,402,000
(25)%
Letlhakane
159,000
125,000
73,000
134,000
111,000
27%
43%
284,000
299,000
(5)%
Damtshaa
-
-
59,000
45,000
60,000
-
(100)%
-
117,000
(100)%
Jwaneng
2,997,000
3,202,000
2,101,000
1,936,000
2,950,000
(6)%
2%
6,199,000
5,727,000
8%
Debswana
5,184,000
5,328,000
4,749,000
4,074,000
5,913,000
(3)%
(12)%
10,512,000
11,545,000
(9)%
Namdeb
94,000
72,000
119,000
148,000
131,000
31%
(28)%
166,000
227,000
(27)%
Debmarine Namibia
202,000
372,000
286,000
318,000
300,000
(46)%
(33)%
574,000
666,000
(14)%
Namdeb Holdings
296,000
444,000
405,000
466,000
431,000
(33)%
(31)%
740,000
893,000
(17)%
Kimberley
-
68,000
242,000
192,000
182,000
(100)%
(100)%
68,000
403,000
(83)%
Venetia
695,000
706,000
1,033,000
712,000
763,000
(2)%
(9)%
1,401,000
1,387,000
1%
Voorspoed
126,000
158,000
184,000
132,000
172,000
(20)%
(27)%
284,000
388,000
(27)%
DBCM
821,000
932,000
1,459,000
1,036,000
1,117,000
(12)%
(26)%
1,753,000
2,178,000
(20)%
Snap Lake
-
3,000
280,000
283,000
352,000
(100)%
(100)%
3,000
680,000
(100)%
Victor
147,000
159,000
159,000
153,000
150,000
(8)%
(2)%
306,000
332,000
(8)%
De Beers Canada
147,000
162,000
439,000
436,000
502,000
(9)%
(71)%
309,000
1,012,000
(69)%
Total carats recovered
6,448,000
6,866,000
7,052,000
6,012,000
7,963,000
(6)%
(19)%
13,314,000
15,628,000
(15)%
Sales volumes (1)
Total sales volumes - carats (100%)(Mct)
10.2
8.1
3.6
3.0
5.4
26%
89%
18.3
14.0
31%
Consolidated sales volumes - carats(Mct)
9.6
7.6
3.6
3.0
4.9
26%
96%
17.2
13.3
29%
Platinum
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Refined production
 Platinum (troy oz)
747,600
260,800
744,900
610,900
560,600
187%
33%
1,008,400
1,103,000
(9)%
Palladium (troy oz)
472,300
181,600
468,400
390,700
387,700
160%
22%
653,900
735,800
(11)%
Rhodium (troy oz)
90,700
47,700
85,700
77,600
76,900
90%
18%
138,400
141,900
(2)%
Copper refined (tonnes)(2)
3,700
3,300
4,700
4,200
4,000
12%
(8)%
7,000
7,900
(11)%
Copper matte (tonnes)(2)
0
0
0
0
0
0%
0%
0
300
(100)%
Nickel refined (tonnes)(2)
6,400
5,700
7,300
6,400
6,000
12%
7%
12,100
11,700
3%
Nickel matte (tonnes)(2)
0
0
0
0
0
0%
0%
0
400
(100)%
Gold (troy oz)
22,300
27,900
29,500
23,000
30,400
(20)%
(27)%
50,200
60,500
(17)%
 Mogalakwena (troy oz)
98,800
109,000
98,500
89,700
102,300
(9%)
(3%)
207,800
204,300
2%
 Amandelbult (troy oz)
106,200
110,900
120,900
127,600
105,400
(4%)
1%
217,100
189,000
15%
 Unki (troy oz)
17,800
18,600
18,600
15,700
15,900
(4%)
12%
36,400
32,200
13%
 Independently managed (troy oz)
203,200
185,100
199,100
209,000
185,700
10%
9%
388,300
360,400
8%
 Rustenburg (troy oz)
112,300
106,400
117,800
124,000
122,600
6%
(8%)
218,700
243,600
(10%)
 Union (troy oz)
41,200
34,300
38,000
37,700
31,400
20%
31%
75,500
65,500
15%
 Other(3) (troy oz)
6,200
2,700
5,100
10,500
17,600
130%
(65)%
8,900
30,000
(70)%
Produced ounces 
Platinum (troy oz)
585,700
567,000
598,000
614,300
580,900
3%
1%
1,152,700
1,125,000
2%
4E built-up head grade (g/tonne milled)(4)
3.00
3.11
3.24
3.27
3.27
(4)%
(8)%
3.05
3.21
(5)%
Platinum sales volumes
808,400
412,800
621,800
690,100
635,600
96%
27%
1,221,200
1,159,500
5%
Copper (tonnes) on a contained metal basis unless stated otherwise(5)
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Collahuasi 100% basis (Anglo American share 44%)
Ore mined
15,277,400
14,858,200
22,468,800
18,879,300
20,130,700
3%
(24)%
30,135,600
38,225,400
(21)%
Ore processed - Oxide
-
-
-
1,484,900
1,835,700
-
(100)%
-
3,169,000
(100)%
Ore processed - Sulphide
12,479,200
12,102,800
12,801,300
9,464,800
10,464,200
3%
19%
24,582,000
21,524,500
14%
Ore grade processed - Oxide 
(% ASCu)(6)
-
-
-
0.63
0.60
-
-
-
0.64
-
Ore grade processed - Sulphide (% TCu)(7)
1.21
1.15
1.25
1.09
1.15
5%
5%
1.18
1.12
6%
Production - Copper cathode
1,400
1,900
3,100
6,000
6,600
(26)%
(79)%
3,300
13,100
(75)%
Production - Copper in concentrate
126,300
114,200
136,800
92,800
105,500
11%
20%
240,500
203,500
18%
Total copper production for Collahuasi
127,700
116,100
139,900
98,800
112,100
10%
14%
243,800
216,600
13%
Anglo American's share of copper production for Collahuasi(8)
56,200
51,100
61,500
43,500
49,300
10%
14%
107,300
95,300
13%
Anglo American Sur 
Los Bronces mine(9)
Ore mined
13,477,900
10,487,900
13,252,200
10,112,600
13,345,700
29%
1%
23,965,800
26,893,700
(11)%
Marginal ore mined
6,148,500
13,402,300
11,673,100
7,733,600
10,929,100
(54)%
(44)%
19,550,800
19,845,900
(1)%
Ore processed - Sulphide
12,567,500
12,055,300
14,115,200
11,584,300
10,447,300
4%
20%
24,622,800
19,697,400
25%
Ore grade processed - Sulphide (% TCu)
0.62
0.74
0.83
0.87
0.98
(16)%
(37)%
0.68
1.02
(34)%
Production - Copper cathode
8,900
9,700
9,700
8,500
7,800
(8)%
14%
18,600
16,800
11%
Production - Copper in concentrate
66,700
75,500
101,300
90,100
89,600
(12)%
(26)%
142,200
175,300
(19)%
Production total
75,600
85,200
111,000
98,600
97,400
(11)%
(22)%
160,800
192,100
(16)%
El Soldado mine(9)
Ore mined
2,143,000
1,448,000
1,280,000
951,600
1,915,700
48%
12%
3,591,000
2,976,500
21%
Ore processed - Sulphide
1,741,200
1,836,100
1,557,500
1,441,800
1,752,100
(5)%
(1)%
3,577,300
2,966,100
21%
Ore grade processed - Sulphide (% TCu)
0.89
0.75
0.79
0.90
0.71
19%
25%
0.82
0.69
19%
Production - Copper cathode
-
-
-
-
-
-
-
-
200
(100)%
Production - Copper in concentrate
12,400
10,200
8,900
11,000
10,000
22%
24%
22,600
15,900
42%
Production total
12,400
10,200
8,900
11,000
10,000
22%
24%
22,600
16,100
40%
Chagres Smelter(9)
Ore smelted
36,500
35,900
35,900
39,900
36,200
2%
1%
72,400
73,300
(1)%
Production
35,500
35,200
34,900
38,900
35,300
1%
1%
70,700
71,300
(1)%
Total copper production for Anglo American Sur
88,000
95,400
119,900
109,600
107,400
(8)%
(18)%
183,400
208,200
(12)%
Anglo American Norte
Mantos Blancos mine
Ore processed - Sulphide
-
-
-
718,400
1,043,300
-
(100)%
-
2,117,100
(100)%
Ore grade processed - Sulphide (% TCu)
-
-
-
0.75
0.79
-
-
-
0.77
-
Production - Copper cathode
-
-
-
5,000
8,500
-
(100)%
-
15,400
(100)%
Production - Copper in concentrate
-
-
-
4,500
6,800
-
(100)%
-
13,600
(100)%
Production total
-
-
-
9,500
15,300
-
(100)%
-
29,000
(100)%
Mantoverde mine
Ore processed - Oxide
-
-
-
1,838,000
2,487,900
-
(100)%
-
4,767,300
(100)%
Ore processed - Marginal ore 
-
-
-
1,658,000
2,790,000
-
(100)%
-
4,286,800
(100)%
Ore grade processed - Oxide (% ASCu) 
-
-
-
0.51
0.54
-
-
-
0.53
-
Ore grade processed - Marginal ore (% ASCu)
-
-
-
0.20
0.21
-
-
-
0.21
-
Production - Copper cathode
-
-
-
8,500
12,500
-
(100)%
-
23,800
(100)%
Total copper production for Anglo American Norte
-
-
-
18,000
27,800
-
(100)%
-
52,800
(100)%
Total Copper segment copper production
215,700
211,500
259,800
226,400
247,300
2%
(13)%
427,200
477,600
(11)%
Total Attributable copper production(10)
144,200
146,500
181,400
171,100
184,500
(2)%
(22)%
290,700
356,300
(18)%
Total Attributable payable copper production
139,200
141,600
175,300
165,800
179,000
(2)%
(22)%
280,800
345,800
(19)%
Total Attributable sales volumes
143,500
137,500
183,000
178,400
179,400
4%
(20)%
281,000
344,200
(18)%
Total Attributable payable sales volumes
138,500
133,000
176,700
172,900
173,800
4%
(20)%
271,500
333,900
(19)%
Third party sales(11)
6,700
9,200
41,400
-
-
(27)%
100%
15,900
-
100%
Nickel (tonnes)
unless stated otherwise(12)
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Barro Alto
Ore mined
835,300
457,000
453,200
1,351,700
903,300
83%
(8)%
1,292,300
1,138,600
13%
Ore processed
569,200
598,100
566,400
330,700
281,100
(5)%
102%
1,167,300
575,700
103%
Ore grade processed - %Ni
1.76
1.77
1.77
1.79
1.80
(1)%
(2)%
1.76
1.78
(1)%
Production
8,800
8,900
8,100
4,700
4,100
(1)%
115%
17,700
8,400
111%
Codemin
Ore mined
7,600
-
-
-
8,600
n.m.
(12)%
7,600
8,600
(12)%
Ore processed
151,300
151,400
 154,000
140,000
145,700
0%
4%
302,700
297,100
2%
Ore grade processed - %Ni
1.72
1.68
1.69
1.70
1.71
2%
1%
1.70
1.68
1%
Production
2,300
2,300
2,400
2,100
2,200
0%
5%
4,600
4,500
2%
Total Nickel segment nickel production
11,100
11,200
10,500
6,800
6,300
(1)%
76%
22,300
13,000
72%
Sales volumes
11,100
10,800
9,500
6,400
8,600
3%
29%
21,900
16,100
36%
Niobium
(tonnes) unless stated otherwise
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Niobium
Ore mined
661,000
690,300
637,700
597,300
605,600
(4)%
9%
1,351,300
896,700
51%
Ore processed
601,100
484,800
580,700
578,400
570,400
24%
5%
1,085,900
1,072,200
1%
Ore grade processed - %Nb
0.95
0.91
1.00
0.93
0.93
4%
2%
0.93
0.95
(2)%
Production
1,200
1,400
1,600
1,800
1,600
(14)%
(25)%
2,600
2,900
(10)%
Sales volumes
1,900
1,100
800
1,400
1,500
73%
27%
3,000
2,800
7%
Phosphates 
(tonnes) unless stated otherwise
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Phosphates
Concentrate
358,000
333,100
355,700
363,100
303,300
7%
18%
691,100
622,600
11%
Concentrate grade - %P2O5
37.1
36.6
36.7
36.8
36.9
1%
1%
36.8
36.9
0%
Phosphoric acid
73,600
79,100
63,900
75,600
62,400
(7)%
18%
152,700
125,600
22%
Fertiliser
285,900
274,900
303,400
294,400
274,200
4%
4%
560,800
513,000
9%
High analysis fertiliser
53,600
47,800
36,700
42,400
56,100
12%
(4)%
101,400
93,700
8%
Low analysis fertiliser
232,300
227,100
266,700
252,000
218,100
2%
7%
459,400
419,300
10%
Dicalcium phosphate (DCP)
41,500
31,500
38,700
33,700
38,700
32%
7%
73,000
74,900
(3)%
Fertiliser sales volumes
362,300
247,300
194,400
339,600
317,500
47%
14%
609,600
526,000
16%
Iron Ore and Manganese (tonnes)
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Kumba Iron Ore
Lump
5,721,300
5,669,700
7,029,100
7,322,300
6,761,800
1%
(15)%
11,391,000
14,651,700
(22)%
Fines
3,142,300
3,254,800
3,906,100
4,068,600
3,622,900
(3)%
(13)%
6,397,100
7,900,400
(19)%
Total Kumba production
8,863,600
8,924,500
10,935,200
11,390,900
10,384,700
(1)%
(15)%
17,788,100
22,552,100
(21)%
Sishen
5,699,600
5,841,800
7,661,300
7,669,800
7,176,200
(2)%
(21)%
11,541,400
16,061,700
(28)%
Kolomela
3,164,000
2,713,100
2,853,800
3,347,800
2,880,300
17%
10%
5,877,100
5,852,800
0%
Thabazimbi
-
369,600
420,100
373,300
328,200
(100)%
(100)%
369,600
637,600
(42)%
Total Kumba production
8,863,600
8,924,500
10,935,200
11,390,900
10,384,700
(1)%
(15)%
17,788,100
22,552,100
(21)%
Kumba sales volumes
RSA export iron ore
8,729,700
9,376,100
10,509,300
9,846,500
11,732,600
(7)%
(26)%
18,105,800
23,204,200
(22)%
RSA domestic iron ore
936,000
1,167,700
533,500
960,700
1,348,000
(20)%
(31)%
2,103,700
2,782,600
(24)%
Minas-Rio production
Pellet feed (wet basis)
3,483,800
3,349,400
3,252,500
2,918,800
1,826,200
4%
91%
6,833,200
3,002,900
128%
Minas-Rio sales volumes
Export - pellet feed (wet basis)
3,223,900
3,714,400
3,035,000
2,793,900
1,344,400
(13)%
140%
6,938,300
2,638,700
163%
Samancor
Manganese ore(13)
791,300
775,900
596,000
923,200
805,700
2%
(2)%
1,567,200
1,567,800
0%
Manganese alloys(13)(14)
29,700
32,100
43,500
43,700
53,600
(7)%
(45)%
61,800
126,200
(51)%
Samancor sales volumes
Manganese ore
833,500
870,900
720,200
813,900
720,700
(4)%
16%
1,704,400
1,552,400
10%
Manganese alloys
46,400
42,800
42,000
42,400
55,300
8%
(16)%
89,200
118,900
(25%)
Coal (tonnes)
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Australia
Metallurgical - Export Coking
3,997,500
3,378,900
4,302,100
4,115,000
3,743,800
18%
7%
7,376,400
7,490,700
(2)%
Metallurgical - Export PCI
1,485,800
1,147,200
1,182,200
1,360,500
1,508,800
30%
(2)%
2,633,000
2,757,600
(5)%
5,483,300
4,526,100
5,484,300
5,475,500
5,252,600
21%
4%
10,009,400
10,248,300
(2)%
Thermal - Export
1,107,000
1,065,900
1,154,300
1,366,400
1,326,600
4%
(17)%
2,172,900
2,759,800
(21)%
Thermal - Domestic
1,716,700
1,492,900
1,978,800
1,800,500
1,622,400
15%
6%
3,209,600
3,272,300
(2)%
2,823,700
2,558,800
3,133,100
3,166,900
2,949,000
10%
(4)%
5,382,500
6,032,100
(11)%
South Africa
Thermal - Export
4,655,800
3,976,000
3,878,000
4,887,200
 4,296,700 
17%
8%
8,631,900
 8,638,400 
0%
Thermal - Domestic (Eskom)
6,708,700
6,392,000
5,533,500
6,763,000
 6,774,000 
5%
(1)%
13,100,700
13,724,700 
(5)%
Thermal - Domestic 
(Non-Eskom)
1,824,300
1,803,800
1,821,500
1,730,400
 1,590,000 
1%
15%
3,628,100
 3,292,000 
10%
13,188,800
12,171,800
11,233,000
13,380,600
12,660,700 
8%
4%
25,360,700
25,655,100 
(1)%
Colombia
Thermal - Export
2,329,500
2,610,000
2,628,100
2,526,800
2,944,400
(11)%
(21)%
4,939,500
5,919,400
(17)%
Total Metallurgical coal production
5,483,300
4,526,100
5,484,300
5,475,500
5,252,600
21%
4%
10,009,400
10,248,300
(2)%
Total Export Thermal coal production
8,092,300
7,651,900
7,660,400
8,780,400
8,567,700
6%
(6)%
15,744,300
17,317,600
(9)%
Total Domestic Thermal coal production
10,249,700
9,688,700
9,333,800
10,293,900
9,986,400
6%
3%
19,938,400
20,289,000
(2)%
Total Coal production
23,825,300
21,866,700
22,478,500
24,549,800
23,806,700
9%
0%
45,692,100
47,854,900
(4)%
Sales volumes (own mined)
Australia 
Metallurgical - Export(15)
5,403,200
4,815,800
5,396,000
5,480,900
5,103,100
12%
6%
10,219,000
10,216,500
0%
Thermal - Export
1,151,900
1,173,000
1,341,700
1,638,600
1,505,800
(2)%
(24)%
2,324,800
2,924,000
(20)%
Thermal - Domestic
1,653,400
1,506,800
1,915,800
1,871,900
1,670,500
10%
(1)%
3,160,200
3,261,500
(3)%
South Africa
Thermal - Export
4,744,000
4,343,200
5,188,700
4,568,600
4,967,400
9%
(4)%
9,087,200
10,162,600 
(11)%
Thermal - Domestic
8,187,200
7,828,600
6,763,300
7,977,800
8,203,900
5%
0%
16,015,700
16,950,500 
(6)%
Colombia
 Thermal - Export
2,843,800
2,339,000
2,565,100
2,853,400
2,765,700
22%
3%
5,182,800
5,770,800
(10)%
Coal by mine (tonnes)
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q2 2016
vs.
Q1 2016
Q2 2016
vs.
Q2 2015
H1
2016
H1
2015
H1 2016 vs.
H1 2015
Australia
Callide
1,805,300
1,748,200
2,295,200
1,988,900
1,789,300
3%
1%
3,553,400
3,646,300
(3)%
Capcoal 
(incl. Grasstree)
2,205,400
1,760,000
2,283,800
2,353,300
1,793,500
25%
23%
3,965,400
4,052,600
(2)%
Dawson
1,143,800
1,006,000
1,025,800
1,249,400
1,375,500
14%
(17)%
2,149,800
2,039,300
5%
Drayton
418,200
349,900
351,300
600,400
462,800
20%
(10)%
768,200
1,170,300
(34)%
Foxleigh
566,000
434,500
376,300
494,800
511,200
30%
11%
1,000,500
989,500
1%
Grosvenor
331,200
203,000
179,100
147,300
121,800
63%
172%
534,100
173,400
208%
Jellinbah
821,600
758,400
872,700
798,400
766,400
8%
7%
1,580,000
1,530,300
3%
Moranbah North
1,015,500
824,900
1,233,200
1,009,900
1,381,100
23%
(26)%
1,840,500
2,678,700
(31)%
8,307,000
7,084,900
8,617,400
8,642,400
8,201,600
17%
1%
15,391,900
16,280,400
(5)%
South Africa
Goedehoop
1,266,600
1,001,300
896,000
1,151,200
 1,106,100 
26%
15%
2,267,900
 2,239,900 
1%
Greenside
990,700
806,300
897,200
1,059,600 
 992,300 
23%
0%
1,797,000
 1,919,800 
(6)%
Zibulo
1,638,600
1,390,000
1,306,400
1,592,500 
 1,385,000 
18%
18%
3,028,600
 2,666,100 
14%
Kleinkopje
757,100
966,400
824,900
895,200 
 572,000 
(22)%
32%
1,723,500
 1,432,300 
20%
Landau
1,091,900
1,003,200
1,079,200
1,144,600 
 1,065,000 
9%
3%
2,095,100
 2,044,900 
2%
Mafube
438,500
379,100
366,500
370,100 
 344,500 
16%
27%
817,600
 706,000 
16%
New Vaal
4,027,700
3,521,800
2,811,500
3,576,700 
 4,211,200 
14%
(4)%
7,549,500
 7,759,800 
(3)%
New Denmark
392,600
604,300
643,000
881,600 
 441,100 
(35)%
(11)%
996,900
 1,313,700 
(24)%
Kriel
1,503,300
1,339,800
1,185,900
1,613,000 
 1,546,000 
12%
(3)%
2,843,200
 3,359,300 
(15)%
Isibonelo
1,081,800
1,159,600
1,222,400
1,096,100 
 997,500 
(7)%
8%
2,241,400
 2,213,300 
1%
13,188,800
12,171,800
11,233,000
13,380,600 
12,660,700
8%
4%
25,360,700
25,655,100 
(1)%
Colombia
Carbones del Cerrejn
2,329,500
2,610,000
2,628,100
2,526,800
2,944,400
(11)%
(21)%
4,939,500
5,919,400
(17)%
Total Coal production
23,825,300
21,866,700
22,478,500
24,549,800
23,806,700
9%
0%
45,692,100
47,854,900
(5)%
(1) Number of Sights (sales cycles) in each quarter as follows: Q2 2016: 3; Q1 2016: 2; Q4 2015: 3; Q3 2015: 2; Q2 2015: 2; Q1 2015: 3
(2) Copper and nickel refined through third parties is now shown as production of copper matte and nickel matte
(3) Includes third party purchases and Twickenham
(4) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold 
(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) Relates to sales of copper not produce by Anglo American operations
(12) Excludes Anglo American Platinum's nickel production
(13) Saleable production
(14) Production includes medium carbon ferro-manganese
(15) Includes both hard coking coal and PCI sales volumes
ACHIEVED PRICES SUMMARY
Average achieved prices
H1 2016
H2 2015
H1 2015
FY 2015
H1 2016
vs.
H2 2015
H1 2016
vs.
H1 2015
De Beers 
Total sales volumes - carats (100%) (Mct)
18.3
6.6
14.0
20.6
177%
31%
Total consolidated sales volumes - carats (Mct) 
17.2
6.6
13.3
19.9
161%
29%
Consolidated average realised price ($/ct)(1)
177
209
206
207
(15)%
(14)%
De Beers index price (2)
117
127
139
135
(8)%
(16)%
PGMs 
Platinum (US$/oz)
971
955
1,160 
1,051
2%
(16)%
Palladium (US$/oz)
551
631
779 
703
(13)%
(29)%
Rhodium (US$/oz)
679
786
1,133 
958
(14)%
(40)%
Basket price (US$/oz)
1,632
1,682
2,157 
1,905
(3)%
(24)%
Basket price (ZAR/oz)
25,100
22,837
25,748
24,203
10%
(3)%
Copper (USc/lb)
215
203
253
228
6%
(15)%
Nickel (USc/lb)
387
415
578
498
(7)%
(33)%
Iron Ore - FOB prices
Kumba Export (US$/dmt)(3)
55
46
61
54
20%
(10)%
Minas-Rio (US$/wmt)(4)
44
37
50
41
19%
(12)%
Coal
Australia and Canada
Metallurgical - Export (U$/t)(5)
77
81
100
90
(5)%
(23)%
Thermal - Export (U$/t)
47
50
61
55
(6)%
(23)%
Thermal - Domestic (U$/t, FOR)
24
28
29
28
(14)%
(17)%
South Africa
Thermal - Export (U$/t)(6)
50
51
60
55
(2)%
(17)%
Thermal - Domestic (U$/t, FOR)
16
20
18
19
(20)%
(11)%
Colombia
Thermal - Export (U$/t)
47
52
58
55
(10)%
(19)%
(1) Pricing for the mining business units based on 100% selling value post-aggregation.
(2) 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.
(3) Average realised export basket price (FOB Saldanha).
(4) Average realised export basket price (FOB Au) (wet basis).
(5) Weighted average metallurgical coal sales price achieved.
(6) Weighted average export thermal coal price achieved.
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
james.wyatt-tilby@angloamerican.com
Tel: +44 (0)20 7968 8759
Marcelo Esquivel
marcelo.esquivel@angloamerican.com
Tel: +44 (0)20 7968 8891
UK
Paul Galloway
paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8718
Ed Kite
edward.kite@angloamerican.com
Tel: +44 (0)20 7968 2178
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
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

This information is provided by RNS
The company news service from the London Stock Exchange
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