REG - Anglo American PLC - Q3 2014 Interim Management Statement <Origin Href="QuoteRef">AAL.L</Origin> - Part 1

Anglo AmericanAnnouncement

29/10/2014 14:12

RNS Number : 0627V
Anglo American PLC
23 October 2014
23 October 2014
Anglo American plc
Interim Management Statement for the third quarter ended 30 September 2014
Overview
Q3 2014
Q3 2013
% vs. Q3 2013
Iron ore (Mt)
13.0
9.5
37%
Export metallurgical coal (Mt)
5.1
4.9
4%
Export thermal coal (Mt)
9.0
9.4
(4)%
Copper (t)(1)
176,900
207,300
(15)%
Nickel (t)(2)
10,700
9,500
13%
Platinum (equivalent refined) (koz)(3)
533
623
(14)%
Diamonds (Mct)(4)
8.2
7.7
6%
 Kumba Iron Ore production increased by 37% to 13 million tonnes following implementation of the production recovery plan at Sishen and record output at Kolomela. Waste removal at Sishen continues to be the operational focus
 Export metallurgical coal production increased by 4% to 5.1 million tonnes. Moranbah recovered from the geotechnical issues reported in Q2 2014
 Export thermal coal production decreased by 4% to 9.0 million tonnes owing to adverse weather conditions in Colombia, partly offset by operational improvements in South Africa 
 Copper production decreased by 15% to 176,900 tonnes, with expected grade declines at
Los Bronces and Collahuasi being partially offset by improved throughput at Los Bronces
 Nickel production increased by 13% to 10,700 tonnes driven by continued improved operational stability at Barro Alto prior to the planned rebuild of the two furnaces, with the first commencing at the beginning of October
 Platinum ramp up at strike-affected mines (Rustenburg, Amandelbult and Union mines) was completed, with normal production resumed by September. Platinum equivalent refined production decreased by 14% to 532,800 ounces as a result of the post-strike ramp-up and planned lower production at both Rustenburg and Union following the 2013 restructuring
 Diamond production increased by 6% to 8.2 million carats, with higher production at Debswana due to a strong performance at Jwaneng. This was partially offset by lower production at operations in South Africa and Canada
(1) Copper production from the Copper business unit
(2) Nickel production from the Nickel business unit
(3) 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 Limited's standard smelting and refining recoveries
(4) De Beers production on 100% basis 


IRON ORE AND MANGANESE
Iron Ore and Manganese 
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs.
YTD 2013
Iron ore
000 t
12,972
9,474
37%
11,465
13%
35,765
31,087
15%
Manganese ore 
000 t
866
788
10%
868
-
2,427
2,455
(1)%
Manganese alloys
000 t
68
55
25%
73
(6)%
206
185
11%
Iron Ore - Production from Kumba Iron Ore increased by 37% to 13 million tonnes, due to implementation of the redesign plan at Sishen to alleviate current pit constraints. Sishen production was 9.3 million tonnes for the quarter, an increase of 44% and 11% compared with the previous quarter. Waste removal increased by 14% and by 4% compared with the previous quarter. Waste removal run rates are currently meeting targets. Additional contractor capacity has been secured and the waste backlog from H1 2014 is expected to be caught up during Q4 2014 and Q1 2015. Waste mining at Sishen is anticipated to be between 190 million tonnes and 200 million tonnes for the year.
Anglo American Operating Model went live at Sishen in August. The aim of the model is to reduce variation and improve stability through focus on planning and execution effectiveness within the operating environment to ensure expected outputs are improved, delivered and sustainable. 
Kolomela mine increased production by 20% to 3.4 million tonnes due to a continued strong operational performance.
Export sales decreased by 4% to 9.1 million tonnes following annual Transnet maintenance shutdown in August and a slow start up thereafter. The logistics system is back to operating at normal run rates. Domestic sales decreased by 14% to 1.1 million tonnes owing to reduced offtake by ArcelorMittal S.A.
Total finished product stocks increased to 6.5 million tonnes as at 30 September 2014 compared with 3.6 million tonnes at 30 June 2014 and 2.4 million tonnes at 30 September 2013, due to production ramp-up and logistics constraints mentioned earlier.
Full-year production guidance for iron ore has been increased to 45 million - 46 million tonnes (previously 44 million - 46 million tonnes).
Manganese ore - Manganese ore production increased 10% driven by improved ore recovery and increased plant availability, in South Africa.
 
Manganese alloy - Manganese alloy production increased by 25% owing to improved smelter stability at Metalloys and higher furnace availability, in Australia.
Iron Ore Brazil - Work on the Minas-Rio project continues, with significant progress made to deliver FOOS (first ore on ship) within the $8.8 billion budget. Commissioning and testing activities are ongoing, ore stockpiles are being built at the Port of Au and first ore loading has begun.


COAL
Coal 
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 
2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Australia & Canada









Metallurgical - Export
000 t
5,090
4,912
4%
4,831
5%
15,974
13,922
15%
Thermal - Export
000 t
1,575
1,672
(6)%
958
64%
3,302
4,679
(29)%
Thermal - Domestic 
000 t
2,074
1,752
18%
1,846
12%
5,148
4,551
13%
South Africa









Thermal - Export 
000 t
5,008
4,505
11%
4,274
17%
13,430
12,429
8%
Thermal - Domestic (Eskom)
000 t
8,000
9,053
(12)%
8,147
(2)%
23,554
25,950
(9)%
Thermal - Domestic 
(Non-Eskom)
000 t
1,863
1,665
12%
1,611
16%
4,834
4,758
2%
Colombia









Thermal - Export
000 t
2,369
3,185
(26)%
2,908
(19)%
8,225
7,711
7%
Australia and Canada - Export metallurgical coal production increased by 4% to 5.1 million tonnes. Grasstree completed a planned longwall move and Moranbah recovered from geotechnical issues reported last quarter.
Australian export thermal coal production decreased by 6% to 1.6 million tonnes owing to lower production from Drayton as the mine nears the end of its life. 
Early September, Anglo American announced that Peace River Coal operations in Canada would be placed on care and maintenance from the end of 2014 owing to weak market conditions. 
Construction of the greenfield Grosvenor metallurgical coal project in Queensland is progressing on schedule with first development coal cut in September. Longwall production remains on schedule to commence at the end of 2016.
Full-year production guidance for export metallurgical coking coal has increased to
20 million - 21 million tonnes (previously ~20 million tonnes).
South Africa - Export thermal coal production increased by 11% to 5.0 million tonnes, with increases across the majority of export operations, including export product quality optimisation, productivity improvements at Greenside and favourable mining conditions at Zibulo.
Eskom production was 12% lower at 8.0 million tonnes owing to the New Denmark longwall move and municipal protest action temporarily impacting production at Kriel. Domestic
non-Eskom production increased by 12% to 1.9 million tonnes as a result of higher production at Zibulo.
Colombia - Cerrejn's production decreased by 26% to 2.4 million tonnes, as a result of heavy rainfall in August and September.
Full-year production guidance remains unchanged for export thermal coal from South Africa and Cerrejn operations at 28 million - 29 million tonnes.
BASE METALS AND MINERALS - COPPER
Copper 
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Copper 
t
176,900
207,300
(15)%
194,400
(9)%
573,300
560,600
2%
Copper - Copper production decreased by 15% to 176,900 tonnes.
Production from Los Bronces decreased by 10% to 95,700 tonnes, with the continued throughput improvements at both plants being more than offset by the expected lower grades. Lower grades are also expected in the fourth quarter, as mining moves to the southern areas of the Donoso pit.
At Collahuasi, production decreased by 24% to 48,500 tonnes. This was attributable to expected lower grades, as well as reduced throughput due to planned maintenance stoppages.
El Soldado's production decreased by 29% to 6,700 tonnes following expected lower grades arising from the previously reported intersection with a geological fault.
Production from Mantos Blancos and Mantoverde decreased by a combined 6% to a total of 26,000 tonnes, with both operations experiencing a decline in grades, as well as lower recoveries at the Mantos Blancos dump leaching operations.
Full year production guidance for copper has increased to 730,000 - 745,000 tonnes
(previously 725,000 - 740,000 tonnes).
BASE METALS AND MINERALS - NICKEL, NIOBIUM AND PHOSPHATES
NICKEL
Nickel
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Nickel
t
10,700
9,500
13%
10,600
1%
30,500
24,200
26%
Nickel - Nickel production increased by 13% to 10,700 tonnes, driven by continued improved operational stability at Barro Alto prior to the planned rebuild of the two furnaces.
Production from Barro Alto increased by 17% to 8,300 tonnes, reflecting this continued operational stability as well as the impact of the Q3 2013 unplanned stoppages. The line 2 furnace rebuild is under way and is scheduled for completion in Q2 2015.
Production from Codemin remained broadly flat at 2,400 tonnes.
Full-year production guidance for nickel has increased to 35,000 - 37,000 tonnes
(previously 32,000 - 35,000 tonnes).
NIOBIUM 
Niobium
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Niobium
t
1,200
1,100
9%
1,100
9%
3,400
3,300
3%
Niobium - Production of niobium increased 9% to 1,200 tonnes.
Boa Vista Fresh Rock project construction has been completed and commissioning is well advanced. First production is expected during Q4 2014.
PHOSPHATES
Phosphates 
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 
2014
YTD 
2013
YTD 2014 vs. 
YTD 2013
Phosphates









Concentrate
t
362,700
355,000
2%
349,500
4%
1,060,100
1,052,900
1%
Phosphoric Acid
t
81,300
79,500
2%
81,300
-
216,400
239,100
(9)%
Fertiliser
t
284,700
326,300
(13)%
275,700
3%
827,600
900,000
(8)%
Dicalcium phosphate (DCP)
t
44,100
43,100
2%
43,600
1%
119,300
121,000
(1)%
Phosphates - Concentrate, phosphoric acid and dicalcium phosphate were broadly flat. Fertiliser production decreased by 13% as a result of planned plant maintenance, operational constraints and product mix changes to optimise margins.

PLATINUM
Platinum

Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Refined









Platinum
000 oz
460
666
(31)%
421
9%
1,316
1,687
(22)%
Palladium
000 oz
316
369
(14)%
295
7%
868
953
(9)%
Rhodium
000 oz
48
85
(43)%
49
(1)%
158
211
(25)%
Copper(1) - Refined
t
2,800
2,600
8%
3,900
(28)%
9,900
6,500
52%
Copper(1) - Matte
t
1,300
300
333%
2,300
(43)%
4,800
4,400
9%
Nickel(1) - Refined
t
5,200
4,900
6%
5,600
(7)%
15,700
11,600
35%
Nickel(1) - Matte
t
1,800
300
 500%
2,700
(33)%
5,900
5,700
4%
Gold
000 oz
15
34
(57)%
27
(45)%
67
73
(9)%
Equivalent refined









Platinum
000 oz
533
623
(14)%
358
49%
1,248
1,800
(31)%
(1) Nickel and copper refined through third parties is shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflects matte sold to a third party in Q2 2013 from 2012 and 2013 production stockpile
Platinum-Equivalent refined platinum production decreased by14% to532,800 ounces. The principal reasons for this were the strike-affected mines being in ramp-up phase following industrial action which concluded on 24 June, planned lower production from Rustenburg and Union following the restructuring in August 2013, and two fatal incidents at Thembelani and Dishaba in August and September respectively.
In the quarter platinum ounces lost due to the post-strike ramp-up was 92,000 ounces (total lost production during the industrial action was 424,000 ounces, with a further 108,000 ounces lost during the ramp-up of operations). The strike affected mines had completed ramp-up to normal production levels by September.
The industrial action did not affect production at the Mogalakwena and Unki mines, nor at the majority of the joint operations and associates. Mogalakwena mine's production increased by 5% to 86,900 ounces, due to higher achieved head grade and increased concentrator throughput, supported by mining productivity improvement programmes. Unki production remained constant.
The joint venture and associateportfolioincreased platinum production by 2% to 204,000 ounces.
Refined platinum production decreased by 31% to 460,000 ounces, due to lower mined supply and the build-up in pipeline inventory following the drawdown on inventories during the first half of 2014.
Full-year production guidance for refined platinum has decreased to 1.75 million - 1.8 million ounces whilst sales guidance remains unchanged at 2.0 million - 2.1 million ounces.
As part of the on-going repositioning of Anglo American Platinum, significant progress has been made in the execution of the Union mine optimisation plan. Preparations for the sale of Union mine and concentrator have been finalised and the sale process has commenced.
Palladium, Rhodium and Nickel -Refined palladium production decreased by 14%, while refined production of rhodium decreased by 43%, reflecting the change in mix of metals during the ramp-up. Refined nickel production increased by 6% to 5,200 tonnes. Nickel and copper matte production in Q3 2014 includes previously stockpiled nickel and copper matte delivered to third parties for processing.
DIAMONDS
Diamonds
(100% basis)
Q3
2014
Q3
2013
Q3 2014
vs.
Q3 2013
Q2
2014
Q3 2014
vs.
Q2 2014
YTD 2014
YTD 2013
YTD 2014 vs. 
YTD 2013
Diamonds
000 carats
8,193
7,732
6%
8,515
(4)%
24,239
22,027
10%
De Beers - Diamond production increased by 6% to 8.2 million carats. The increase was primarily due to a strong performance at Jwaneng, where higher grade material was accessed. This was partially offset by slightly lower production across operations in Canada and South Africa, including Voorspoed, where a focus on waste movement to clear an area of unstable ground resulted in lower output. In addition, a planned plant upgrade at Venetia and a 19-day strike at Namdeb Land negatively impacted production volumes.
The Gahcho Ku project in Canada is progressing successfully through permitting and licensing, recently securing the Land Use Permit and Ministerial approval of the Water Licence. First production is expected in H2 2016, with full commercial production expected in 2017.
Full-year production guidance for diamonds has increased to ~32 million carats
(previously 31 - 32 million carats).
EXPLORATION AND EVALUATION
Exploration and Evaluation expenditure for Q3 2014 totalled $106 million, a decrease of 19%. Exploration expenditure in Q3 2014 was $43 million, a decrease of $7 million compared with Q3 2013, mainly attributable to metallurgical coal and diamonds. Evaluation expenditure for the quarter was $63 million, down by 21%. It was primarily focused on the Copper and Iron Ore businesses.
SIGNIFICANT TRANSACTIONS
As disclosed in the 30 June 2014 Interim Press Release as an event occurring after the period end the Group reached a binding agreement on 24 July 2014 to sell its 50% ownership interest in Lafarge Tarmac Holdings Limited (Lafarge Tarmac) (included in the Corporate and other segment) to Lafarge SA (Lafarge) for a minimum value of 885 million (approximately $1.5billion) in cash, on a debt and cash free basis and subject to other customary working capital adjustments. The sale will be subject to a number of conditions, including the completion of the proposed merger of Lafarge and Holcim Limited, the divestment of Lafarge Tarmac being accepted as a suitable remedy for the UK market in respect of the merger, and approval of this sale transaction by the necessary regulators.
In the event that a subsequent divestment of Lafarge Tarmac is agreed within 18 months of this sale being completed, then Anglo American will participate in a minority proportion of the upside beyond a small premium to the terms of thistransaction.
NOTE
This Interim Management Statement for the third quarter ended 30 September 2014 is unaudited. Financial Results for the year to 31 December 2014 will be announced on 13 February 2015. This report forms Anglo American plc's Interim Management Statement for the purpose of the UK Listing Authority's Disclosure and Transparency Rules.


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.
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Kumba Iron Ore










Lump
8,235,700
7,480,100
7,505,000
7,369,500
5,990,000
10%
37%
23,220,800
19,717,100
18%
Fines
4,736,400
3,984,900
3,822,800
3,916,200
3,484,600
19%
36%
12,544,100
11,370,300
10%
Total Kumba production
12,972,100
11,465,000
11,327,800
11,285,700
9,474,600
13%
37%
35,764,900
31,087,400
15%
Sishen
9,260,200
8,336,600
8,657,500
8,395,000
6,429,100
11%
44%
26,254,300
22,543,400
16%
Kolomela
3,379,000
2,948,400
2,512,900
2,739,500
2,806,100
15%
20%
8,840,300
8,069,300
10%
Thabazimbi
332,900
180,000
157,400
151,200
239,400
85%
39%
670,300
474,700
41%
Total Kumba production
12,972,100
11,465,000
11,327,800
11,285,700
9,474,600
13%
37%
35,764,900
31,087,400
15%
Kumba sales volumes










RSA export iron ore
9,058,800
10,287,200
9,422,700
9,530,200
9,422,400
(12)%
(4)%
28,768,700
29,545,800
(3)%
RSA domestic iron ore
1,129,200
1,374,000
1,414,800
1,305,700
1,312,200
(18)%
(14)%
3,918,000
3,325,700
18%
Samancor










Manganese ore(1)
866,000
868,300
692,200
846,000
788,100
-
10%
2,426,500
2,455,000
(1)%
Manganese alloys(1)(2)
 68,400
72,500
64,800
66,200
54,800
(6)%
25%
205,700
185,000
11%
Samancor sales volumes










Manganese ore
853,000
854,100
833,900
837,900
766,100
-
11%
2,541,000
2,424,200
5%
Manganese alloys
 68,400
74,400
79,200
60,400
56,800
(8)%
20%
222,000
188,300
18%


Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Australia










Metallurgical - Export Coking
3,196,200
2,917,700
3,964,000
3,133,900
3,053,000
10%
5%
10,077,900
8,577,700
17%
Metallurgical - Export PCI
1,493,900
1,441,800
1,659,300
1,241,900
1,444,700
4%
3%
4,595,000
4,018,300
14%

4,690,100
4,359,500
5,623,300
4,375,800
4,497,700
8%
4%
14,672,900
12,596,000
16%
Thermal - Export
1,574,600
958,400
769,300
1,584,700
1,672,400
64%
(6)%
3,302,300
4,679,300
(29)%
Thermal - Domestic
2,074,400
1,846,000
1,227,900
1,688,800
1,752,300
12%
18%
5,148,300
4,550,500
13%

3,649,000
2,804,400
1,997,200
3,273,500
3,424,700
30%
7%
8,450,600
9,229,800
(8)%
Canada










Metallurgical - Export Coking
385,000
439,200
409,200
339,300
412,500
(12)%
(7)%
1,233,400
1,324,500
(7)%
Metallurgical - Export PCI
15,000
32,000
20,800
18,300
1,700
(53)%
782%
67,800
1,700
3,888%

400,000
471,200
430,000
357,600
414,200
(15)%
(3)%
1,301,200
1,326,200
(2)%
South Africa










Thermal - Export
 5,007,600 
 4,273,600 
4,149,100 
 4,602,000 
 4,504,900 
17%
11%
 13,430,400 
 12,429,300 
8%
Thermal - Domestic (Eskom)
 8,000,200 
 8,146,800 
 7,406,900 
 7,617,800 
 9,053,200 
(2)%
(12)%
 23,553,900 
 25,949,600 
(9)%
Thermal - Domestic 
(Non-Eskom)
 1,862,800 
 1,611,200 
 1,359,500 
 1,234,100 
 1,665,300 
16%
12%
 4,833,500 
 4,757,900 
2%

14,870,600
14,031,600
 12,915,500 
 13,453,900 
 15,223,400 
6%
(2)%
41,817,800
 43,136,800
(3)%
Colombia










Thermal - Export
2,368,800
2,907,700
2,948,200
3,290,300
3,184,900
(19)%
(26)%
8,224,700
7,711,200
7%

2,368,800
2,907,700
2,948,200
3,290,300
3,184,900
(19)%
(26)%
8,224,700
7,711,200
7%
Total Metallurgical coal production
5,090,100
4,830,700
6,053,300
4,733,400
4,911,900
5%
4%
15,974,100
13,922,200
15%
Total Export Thermal coal production
8,951,000
8,139,700
7,866,600
9,477,000
9,362,200
10%
(4)%
24,957,400
24,819,800
1%
Total Domestic Thermal coal production
11,937,400
11,604,000
9,994,300
10,540,700
12,470,800
3%
(4)%
33,535,700
35,258,000
(5)%
Total Coal production
25,978,500
24,574,400
23,914,200
24,751,100
26,744,900
6%
(3)%
74,467,200
74,000,000
1
%
Weighted average achieved FOB prices










Australia and Canada










Metallurgical - Export(3) US$/t
105
109
124
133
129
(4)%
(19)%
113
142
(20)%
Thermal - Export US$/t
73
82
79
78
82
(11)%
(11)%
77
86
(10)%
Thermal - Domestic US$/t
34
35
40
40
39
(3)%
(13)%
36
39
(8)%
South Africa










Thermal - Export US$/t
 70 
 73 
 77 
 76 
 74 
(4)%
(5)%
 73 
 78 
(6)%
Thermal - Domestic US$/t
 19 
 19 
 18 
 21 
 18 
1%
10%
 19 
 19 
-
Colombia










Thermal - Export US$/t
67
67
68
72
70
-
(4)%
67
73
(8)%
Sales volumes










Australia and Canada










Metallurgical - Export(4)
5,003,800
5,152,600
5,386,200
5,182,200
4,859,000
(3)%
3%
15,542,600
13,862,300
12%
Thermal - Export
1,703,800
897,300
1,019,700
1,881,800
1,477,900
90%
15%
3,620,800
4,489,800
(19)%
Thermal - Domestic
2,102,300
1,870,000
1,331,400
1,632,000
1,684,300
12%
25%
5,303,700
4,493,400
18%
South Africa










Thermal - Export
4,473,700
3,982,500
3,977,300
4,660,200
4,877,600
12%
(8)%
12,433,500
12,841,600
(3)%
Thermal - Domestic
9,690,900
9,677,500
9,078,500
8,805,800
10,429,100
-
(7)%
 28,447,000 
 30,238,300 
(6)%
Colombia










Thermal - Export
3,076,800
2,858,100
2,647,100
3,067,000
3,154,800
8%
(2)%
8,582,100
8,085,400
6%
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Australia










Callide
2,318,500
1,844,600
1,229,200
1,688,800
1,752,300
26%
32%
5,392,300
4,628,900
16%
Capcoal (incl. Grasstree)
1,816,300
1,847,500
1,904,700
1,578,800
1,606,000
(2)%
13%
5,568,500
4,482,600
24%
Dawson
1,041,400
1,101,200
1,022,800
1,162,700
993,300
(5)%
5%
3,165,400
2,823,100
12%
Drayton
817,000
708,500
659,100
976,400
1,055,900
15%
(23)%
2,184,600
2,734,200
(20)%
Foxleigh
551,200
471,200
432,900
421,900
541,000
17%
2%
1,455,300
1,544,700
(6)%
Jellinbah
732,800
756,300
677,500
755,900
673,400
(3)%
9%
2,166,600
1,760,600
23%
Moranbah North
1,061,900
434,600
1,694,300
1,064,800
1,300,500
144%
(18)%
3,190,800
3,851,700
(17)%

8,339,100
7,163,900
7,620,500
7,649,300
7,922,400
16%
5%
23,123,500
21,825,800
6%
Canada










Peace River Coal
400,000
471,200
430,000
357,600
414,200
(15)%
(3)%
1,301,200
1,326,200
(2)%

400,000
471,200
430,000
357,600
414,200
(15)%
(3)%
1,301,200
1,326,200
(2)%
South Africa










Goedehoop
 1,210,200
1,177,200
1,138,400
1,228,300
1,194,600
3%
1%
 3,525,800 
 3,452,500 
2%
Greenside
 1,003,400 
806,500
803,500
923,700
862,800
24%
16%
 2,613,500 
 2,345,900 
11%
Isibonelo
1,380,100
1,329,100
1,248,900
1,139,700
1,421,600
4%
(3)%
 3,958,100 
 3,927,000 
1%
Kleinkopje
 1,011,500 
1,142,700
807,500
935,600
1,106,900
(11)%
(9)%
 2,961,600 
 3,061,600 
(3)%
Kriel
 1,614,000 
1,756,200
2,045,500
1,962,500
2,189,800
(8)%
(26)%
 5,415,600 
 6,140,100 
(12)%
Landau
 1,195,900 
870,900
902800
1,079,800
1,065,800
37%
12%
 2,969,600 
 3,004,500 
(1)%
Mafube
 525,400 
413,500
321,800
416,200
475,400
27%
11%
 1,260,700 
 1,409,200 
(11)%
New Denmark
 724,900 
1,091,800
638,800
569,200
817,200
(34)%
(11)%
 2,455,500 
 3,017,700 
(19)%
New Vaal
 4,755,200 
4,321,200
3,895,000
3,905,200
4,797,400
10%
(1)%
 12,971,500 
 13,200,400 
(2)%
Zibulo
 1,450,000
1,122,500
1,113,400
1,293,700
1,291,900
29%
12%
 3,685,900 
 3,577,900 
3%

14,870,600
14,031,600
12,915,500
13,453,900
15,223,400
6%
(2)%
 41,817,800
43,136,800
(3)%
Colombia










Carbones del Cerrejn
2,368,800
2,907,700
2,948,200
3,290,300
3,184,900
(19)%
(26)%
8,224,700
7,711,200
7%
2,368,800
2,907,700
2,948,200
3,290,300
3,184,900
(19)%
(26)%
8,224,700
7,711,200
7%
Total Coal production
25,978,500
24,574,400
23,914,200
24,751,100
26,744,900
6%
(3)%
74,467,200
74,000,000
1%


Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Collahuasi 100% basis (Anglo American share 44%)










Ore mined
16,442,500
16,248,500
17,560,100
23,120,000
19,421,500
1%
(15)%
50,251,100
57,835,400
(13)%
Ore processed - Oxide
1,744,800
1,659,900
1,700,500
1,481,600
1,594,100
5%
9%
5,105,200
5,547,200
(8)%
Ore processed - Sulphide
11,689,600
13,194,500
12,060,400
14,019,700
13,467,600
(11)%
(13)%
36,944,500
33,539,200
10%
Ore grade processed - Oxide (% ASCu)(6)
0.78
0.72
0.71
0.71
0.75
8%
3%
0.74
0.84
(12)%
Ore grade processed - Sulphide (% TCu)(7)
1.12
1.03
1.09
1.23
1.21
9%
(7)%
1.08
1.01
7%
Production - Copper cathode
6,200
4,400
5,300
5,500
6,900
41%
(10)%
15,900
22,900
(31)%
Production - Copper in concentrate
104,000
117,400
113,600
141,700
137,800
(11)%
(25)%
335,000
297,200
22%
Total copper production for Collahuasi
110,200
121,800
118,900
147,200
144,700
(10)%
(24)%
350,900
297,200
18%
Anglo American's share of copper production for Collahuasi(8)
48,500
53,600
52,300
64,800
63,700
(10)%
(24)%
154,400
130,800
18%
Anglo American Sur 










Los Bronces mine(9)










Ore mined
14,215,400
15,483,900
12,311,300
14,502,400
13,243,600
(8)%
7%
42,010,600
42,435,800
(1)%
Marginal ore mined
7,012,900
4,949,400
5,280,400
5,261,100
3,903,800
42%
80%
17,242,700
11,960,200
44%
Ore processed - Sulphide
14,202,100
13,911,500
13,295,100
12,940,500
13,168,200
2%
8%
41,408,700
39,020,000
6%
Ore grade processed - Sulphide (% TCu)
0.71
0.81
0.88
0.87
0.83
(13)%
(15)%
0.79
0.81
(2)%
Production - Copper cathode
9,100
8,900
9,900
9,900
8,600
2%
6%
27,900
27,800
-
Production - Copper in sulphate 
-
-
-
-
-
-
-
-
600
-
Production - Copper in concentrate
86,600
97,100
105,700
100,000
97,900
(11)%
(12)%
289,400
278,000
4%
Production total
95,700
106,000
115,600
109,900
106,500
(10)%
(10)%
317,300
306,400
4%
El Soldado mine(9)










Ore mined
210,700
450,300
1,893,500
2,001,200
1,910,600
(53)%
(89)%
2,554,500
6,575,500
(61)%
Ore processed - Sulphide
1,806,600
1,777,400
1,856,900
1,852,400
1,730,200
2%
4%
5,440,900
5,460,000
-
Ore grade processed - Sulphide (% TCu)
0.53
0.58
0.67
0.90
0.65
(9)%
(19)%
0.59
0.87
(32)%
Production - Copper cathode
300
300
200
300
200
-
50%
800
900
(11)%
Production - Copper in concentrate
6,400
8,100
9,700
12,300
9,200
(21)%
(30)%
24,200
38,100
(36)%
Production total
6,700
8,400
9,900
12,600
9,400
(20)%
(29)%
25,000
39,000
(36)%
Chagres Smelter(9)










Ore smelted
33,300
33,200
36,700
39,900
38,100
-
(13)%
103,200
109,900
(6)%
Production
32,300
32,400
35,500
38,700
36,800
-
(12)%
100,200
106,500
(6)%
Total copper production for Anglo American Sur
102,400
114,400
125,500
122,500
115,900
(10)%
(12)%
342,300
345,400
(1)%
Anglo American Norte










Mantos Blancos mine










Ore processed - Sulphide
1,156,100
1,109,000
1,078,000
1,099,500
1,073,300
4%
8%
3,343,100
3,230,100
3%
Ore grade processed - Sulphide (% ICu) (10)
0.62
0.60
0.69
0.69
0.69
3%
(10)%
0.62
0.64
(3)%
Production - Copper cathode
6,500
7,900
5,000
6,700
7,500
(18)%
(13)%
19,400
22,800
(15)%
Production - Copper in concentrate
6,500
6,300
6,100
6,700
6,100
3%
7%
18,900
18,400
3%
Production total
13,000
14,200
11,100
13,400
13,600
(8)%
(4)%
38,300
41,200
(7)%
Mantoverde mine










Ore processed - Oxide
2,634,100
2,566,100
2,530,500
2,473,500
2,708,500
3%
(3)%
7,730,700
7,911,700
(2)%
Ore processed - Marginal ore 
2,077,300
2,189,100
2,105,200
1,729,100
2,179,000
(5)%
(5)%
6,371,600
6,551,300
(3)%
Ore grade processed - Oxide (% ASCu ) 
0.47
0.48
0.50
0.52
0.55
(2)%
(15)%
0.48
0.58
(17)%
Ore grade processed - Marginal ore (% ASCu )
0.23
0.23
0.24
0.23
0.24
(1)%
(5)%
0.23
0.25
(8)%
Production - Copper cathode
13,000
12,200
13,100
13,600
14,100
7%
(8)%
38,300
43,200
(11)%
Total copper production for Anglo American Norte
26,000
26,400
24,200
27,000
27,700
(2)%
(6)%
76,600
84,400
(9)%
Total Copper segment copper production
238,600
262,600
268,600
296,700
288,300
(9)%
(17)%
769,800
727,000
6%
Total Attributable copper production(11)
176,900
194,400
202,000
214,300
207,300
(9)%
(15)%
573,300
560,600
2%
Attributable sales volumes
179,300
180,800
207,600
214,500
216,700
(1)%
(17)%
567,700
553,700
3%
(12)
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Barro Alto










Ore mined
1,019,300
736,600
354,000
321,300
885,200
38%
15%
2,109,900 
1,677,600 
26%
Ore processed
531,900
555,500
464,000
487,800
444,400
(4)%
20%
1,551,400 
1,128,400
37%
Ore grade processed - %Ni
1.86
1.78
1.78
1.82
1.87
4%
(1)%
1.81 
1.82 
-
Production
8,300
8,600
6,900
7,800
7,100
(3)%
17%
23,800
17,300 
38%
Codemin










Ore mined
-
6,800
-
-
-
-
-
6,800 
6,800
-
Ore processed
154,100
140,800
147,200
151,700
157,000
9%
(2)%
442,100
450,700
(2)%
Ore grade processed - %Ni
1.67
1.67
1.67
1.72
1.70
-
(2)%
1.67 
1.70 
(2)%
Production
2,400
2,000
2,300
2,400
2,400
20%
-
6,700 
6,900
(3)%
Total Nickel segment nickel production
10,700
10,600
9,200
10,200
9,500
1%
13%
30,500
24,200 
26%
Sales volumes
8,800
8,900
10,000
11,200 
9,200 
(1)%
(4)%
27,700
22,600
23%
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Niobium










Ore mined
424,900
356,200
38,500
457,100
407,500
19%
4%
819,600
771,700
6%
Ore processed
237,900
238,700
229,700
224,400
239,900
-
(1)%
706,300
738,700
(4)%
Ore grade processed - %Nb
1.08
1.10
0.92
1.16
1.19
(2)%
(9)%
1.04
1.17
 (11)%
Production
1,200
1,100
1,100
1,200
1,100
9%
9%
3,400
3,300
3%
Sales volumes
1,200
1,200
1,100
1,200
1,200
9%
9%
3,500
3,500
-
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Phosphates










Concentrate
362,700
349,500
347,900
353,400
355,000
4%
2%
1,060,100
1,052,900
1%
Concentrate grade - %P2O5
37.3
37.1
36.8
36.7
37.1
1%
1%
37.1
37.3
(1)%
Phosphoric acid
81,300
81,300
53,800
78,000
79,500
-
2%
216,400
239,100
(9)%
Fertiliser(13)
284,700
275,700
267,200
299,000
326,300
3%
(13)%
827,600
900,000
(8)%
High analysis fertiliser
60,200
44,200
30,100
44,400
61,300
36%
(2)%
134,500
165,000
(18)%
Low analysis fertiliser
224,500
231,500
237,100
254,600
265,000
(3)%
(15)%
693,100
735,100
(6)%
Dicalcium phosphate (DCP)
44,100
43,600
31,600
38,700
43,100
1%
2%
119,300
121,000
(1)%
Fertiliser sales volumes
311,700
241,000
266,500
340,100
280,300
29%
11%
819,200
823,200
(0)%
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Refined production










Platinum (troy oz)
460,000
420,600
435,200
692,100
666,400
9%
(31)%
1,315,800
1,687,400
(22)%
Palladium (troy oz)
316,400
294,600
256,700
428,200
369,300
7%
(14)%
867,700
952,600
(9)%
Rhodium (troy oz)
48,400
48,700
60,600
83,500
84,900
(1)%
(43)%
157,700
211,200
(25)%
Copper refined (tonnes)(14)
2,800
3,900
3,200
1,800
2,600
(28)%
8%
9,900
6,500
52%
Copper matte (tonnes)(14)
1,300
2,300
1,200
1,400
300
(43)%
333%
4,800
4,400
9%
Nickel refined (tonnes)(14)
5,200
5,600
4,900
5,200
4,900
(7)%
6%
15,700
11,600
35%
Nickel matte (tonnes)(14)
1,800
2,700
1,400
100
300
(33)%
500%
5,900
5,700
4%
Gold (troy oz)
14,600
26,700
25,400
26,700
33,700
(45)%
(57)%
66,700
73,300
(9)%
Equivalent refined










Platinum (troy oz)
532,800
358,200
357,000
520,300
622,600
49%
(14)%
1,248,000
1,800,100
(31)%
4E built-up head grade (g/tonne milled)(15)
3.06
2.77
2.86
3.19
3.36
10%
(9)%
2.92
3.28
(11)%


Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q3 2014
vs.
Q2 2014
Q3 2014
vs.
Q3 2013
YTD
2014
YTD
2013
YTD 2014 vs.
YTD 2013
Carats recovered
(100% basis)










Orapa
2,651,000
3,487,000
3,204,000
3,516,000
2,644,000
(24)%
-
9,342,000
7,859,000
19%
Letlhakane
157,000
177,000
131,000
164,000
132,000
(11)%
19%
465,000
518,000
(10)%
Damtshaa
83,000
70,000
56,000
102,000
55,000
19%
51%
209,000
162,000
29%
Jwaneng
3,333,000
2,532,000
2,367,000
2,575,000
2,615,000
32%
27%
8,232,000
7,811,000
5%
Debswana
6,224,000
6,266,000
5,758,000
6,357,000
5,446,000
(1)%
14%
18,248,000
16,350,000
12%
Land
156,000
199,000
137,000
148,000
161,000
(22)%
(3)%
492,000
454,000
8%
Marine
293,000
310,000
295,000
317,000
284,000
(5)%
3%
898,000
843,000
7%
Namdeb Holdings
449,000
509,000
432,000
465,000
445,000
(12)%
1%
1,390,000
1,297,000
7%
Kimberley
207,000
154,000
159,000
147,000
224,000
34%
(8)%
520,000
668,000
(22)%
Venetia
776,000
834,000
531,000
1,403,000
891,000
(7)%
(13)%
2,141,000
1,789,000
20%
Voorspoed
143,000
186,000
242,000
178,000
240,000
(23)%
(40)%
571,000
539,000
6%
DBCM
1,126,000
1,174,000
932,000
1,728,000
1,355,000
(4)%
(17)%
3,232,000
2,996,000
8%
Snap Lake
253,000
379,000
268,000
397,000
315,000
(33)%
(20)%
900,000
915,000
(2)%
Victor
141,000
187,000
141,000
185,000
171,000
(25)%
(18)%
469,000
469,000
-
De Beers Canada
394,000
566,000
409,000
582,000
486,000
(30)%
(19)%
1,369,000
1,384,000
(1)%
Total carats recovered
8,193,000
8,515,000
7,531,000
9,132,000
7,732,000
(4)%
6%
24,239,000
22,027,000
10%
(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) ICu = insoluble copper (total copper less acid soluble copper)
(11) Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi
(12) Excludes Anglo American Platinum's nickel production
(13) 2013 fertiliser includes updated production quantification methodology in the acidulation plant at Cubato
(14) Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflect matte sold to a third party in Q2 2013 from 2012 and 2013 production stockpiles
(15) 4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.


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
UK
James Wyatt-Tilby
Paul Galloway
Tel: +44 (0)20 7968 8759
Tel: +44 (0)20 7968 8718
Emily Blyth
Edward Kite
Tel: +44 (0)20 7968 8481
Tel: +44 (0)20 7968 2178
South Africa
Sarah McNally
Pranill Ramchander
Tel: +44 (0)20 7968 8747
Tel: +27 (0)11 638 2592
Shamiela Letsoalo
Tel: +27 (0)11 638 3112
Notes to editors:
Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals - copper, nickel, niobium and phosphates; and precious metals and minerals - in which we are a global leader in both platinum and diamonds. At Anglo American, we are committed to working together with our stakeholders -our investors, our partners and our employees-to create sustainable value that makes a real difference, while upholding the highest standards of safety and responsibility across all our businesses and geographies. The company's mining operations, pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com

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