REG - Anglo American PLC - Commissioning of the Benguela Gem diamond vessel

Anglo AmericanAnnouncement

18/03/2022 08:00

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RNS Number : 2032F  Anglo American PLC  18 March 2022

 18 March 2022
 Anglo American announces commissioning of the Benguela Gem diamond recovery
 vessel

Anglo American plc ("Anglo American") announces the commissioning - ahead of
schedule and below budget - of the Benguela Gem diamond recovery vessel
(previously known as the AMV3). The Benguela Gem forms part of the fleet
operated by the 50:50 joint venture between De Beers and the Government of
Namibia.

 

The Benguela Gem will add an additional 500,000 carats of high value diamonds
to annual marine production, an increase of around 45%, following an
investment of approximately $420 million (approximately $210 million
attributable to Anglo American).

 

Mark Cutifani, Chief Executive of Anglo American, said: "The commissioning of
the Benguela Gem ahead of schedule and below budget marks further progress
towards Anglo American's margin-enhancing organic growth of more than 20% over
the next three years. This additional vessel further enhances production of
some of the highest quality and value diamonds in the world, while delivering
sustained economic benefits for Namibia."

 

Bruce Cleaver, CEO of De Beers Group, said: "Diamond recovery by Debmarine
Namibia is the single biggest contributor to Namibia's economy and we are
proud to play our part. The Benguela Gem is the first of its kind and
represents an outstanding feat of engineering design, technology innovation
and sustainability performance. The investment in this vessel will support a
long term, sustainable future for Namibia's diamond sector, which is home to
some of the most sought-after diamonds in the world."

 

The Benguela Gem is a custom built vessel that combines latest technology and
fully integrated design to achieve unrivalled efficiency, reliability and
accuracy. A state-of-the-art dynamic positioning system automatically
optimises the vessel's performance in changing weather conditions to minimise
energy use. The vessel also generates its own fresh water through the use of
heat recovery systems and a reverse osmosis plant.

 

 

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Juliet Newth

                                                                                  juliet (mailto:juliet.newth@angloamerican.com) .newth@angloamerican.com
 Katie Ryall                                                                        (mailto:juliet.newth@angloamerican.com)

 katie.ryall@angloamerican.com (mailto:katie.ryall@angloamerican.com)               Tel: +44 (0)20 7968 8830

 Tel: +44 (0)20 7968 8935

                                                                                    Michelle Jarman

 South Africa                                                                       michelle.jarman (mailto:michelle.jarman@angloamerican.com) @angloamerican.com

                                                                                  (mailto:michelle.jarman@angloamerican.com)
 Nevashnee Naicker

                                                                                  Tel: +44 (0)20 7968 1494
 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

 

Notes to editors:

 

Debmarine Namibia is a subsidiary of Namdeb Holdings, a 50:50 joint venture
between De Beers Group and the Government of the Republic of Namibia. In 2021,
Debmarine Namibia recovered around 1.1 million carats of rough diamonds of
total Namdeb Holdings production of around 1.5 million carats. Namibian
diamonds are some of the highest quality diamonds in the world and achieve
some of the highest average prices per carat.

 

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of diamonds (through De Beers), copper, platinum
group metals, premium quality iron ore and metallurgical coal for steelmaking,
and nickel - with crop nutrients in development - we are committed to being
carbon neutral across our operations by 2040. More broadly, our Sustainable
Mining Plan commits us to a series of stretching goals to ensure we work
towards a healthy environment, creating thriving communities and building
trust as a corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural resources
for the benefit of the communities and countries in which we operate, for
society as a whole, and for our shareholders. Anglo American is re-imagining
mining to improve people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

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Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

 

 

 

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