Anglo American Q1 2015 Production Report

RNS Number : 0552L

Anglo American PLC

23 April 2015

 



23 April 2015

Anglo American plc

Production Report for the first quarter ended 31 March 2015

Overview

	Q1 2015	Q1 2014	% vs. Q1 2014
Iron ore - Kumba (Mt)	12.2	11.3	7%
Iron ore - Minas-Rio (Mt)(1)	1.2	-	nm(2)
Export metallurgical coal (Mt)	5.0	6.1	(17)%
Export thermal coal (Mt)	8.7	7.9	11%
Copper (t)(3) (4)	171,800	202,000	(15)%
Nickel (t)(5)	6,700	9,200	(27)%
Platinum (equivalent refined) (koz)(6)	536	357	50%
Diamonds (Mct)(7)	7.7	7.5	2%

·       Solid Q1 2015 production performance, in line with Anglo American's expectations.

·       Iron ore production from Kumba increased by 7% to 12.2 million tonnes due to improved equipment productivity at Sishen and plant performance at Kolomela.

·       Minas-Rio produced 1.2 million tonnes (wet basis) of iron ore during Q1 2015, a 71% increase compared to Q4 2014 and broadly in line with ramp-up plans. The port is operating well, with 13 vessels loaded since first ore on ship (FOOS) in October 2014.

·       Export metallurgical coal production decreased by 17% following Canadian operation Peace River Coal being put on care and maintenance in Q4 2014 and Australian production being impacted by tropical cyclone Marcia.

·       Export thermal coal production increased by 11% to 8.7 million tonnes due to increased productivity and a change in product mix in Australia.

·       Copper production decreased by 15% to 171,800 tonnes, as expected, primarily as a result of the decision to take the smaller of Los Bronces' two processing plants offline for 51 days in the quarter to manage water reserve levels.

·       Nickel production decreased by 27% to 6,700 tonnes, as expected, due to the scheduled rebuild of the Barro Alto furnaces, which is under way and on track for completion in Q4 2015.

·       Equivalent refined platinum production increased by 50% to 536,000 ounces compared to strike impacted Q12014, with Mogalakwena delivering a 13% production increase.

·       Diamond production increased by 2% to 7.7 million carats, driven primarily by higher grades at Venetia. Full year production guidance for diamonds has been reduced from 32 to 34 million carats to 30 to 32 million carats, in light of current trading conditions.

·       All other Business Units are performing in line with the delivery of full year production guidance.

(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		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014		Q4 2014	Q1 2015 vs. Q4 2014
Iron ore - Kumba	000 t	12,167	11,328		7%	12,432	(2)%
Iron ore - Minas-Rio(1)	000 t	1,177	-		nm	688	71%
Manganese ore	000 t	787	692		14%	882	(11)%
Manganese alloys	000 t	73	65		12%	80	(9)%

(1)       Wet basis

Kumba Iron Ore - Production from Kumba Iron Ore increased by 7% to 12.2 million tonnes.

Sishen produced 8.9 million tonnes, an increase of 3%. The implementation of the Operating Model at Sishen continues to deliver improved equipment productivity. Waste removal increased by 27% to 49 million tonnes.

Kolomela continued its strong operational performance, producing 3.0 million tonnes, an 18% increase due to improved plant performance.

Export sales increased by 22% to 11.5 million tonnes, due to higher production and utilisation of the Multi-Purpose Terminal at Saldanha port. In addition, reclaimer maintenance impacted prior year sales export volumes from Kolomela.

Total finished product stocks decreased to 6.1 million tonnes as at 31 March 2015 compared with 6.5 million tonnes at year end.

Full year production guidance remains unchanged at 47 to 48 million tonnes.

Iron Ore Brazil - Minas-Rio produced 1.2 million tonnes (wet basis), a 71% increase compared to Q4 2014 and broadly in line with ramp-up plans, with strong mining activity partially offset by performance issues at the filtration plant. These issues are being addressed and are not expected to impact full year guidance. The port is operating as expected, with 13 vessels loaded since first ore on ship (FOOS) in October 2014.

Full year production guidance remains unchanged at 11 to 14 million tonnes (wet basis).

Nameplate capacity is expected to be reached during the second quarter of 2016, with production of 24 to 26.5 million tonnes (wet basis) expected in 2016.

Manganese ore - Manganese ore production increased by 14% with good performances across both regions. South Africa benefited from improved ore recovery and increased plant availability whilst Australia benefited from higher plant utilisation and favourable ore grades at Gemco.

Manganese alloy - Manganese alloy production increased by 12% due to improved furnace stability and availability at both Metalloys in South Africa.

COAL

Coal		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Australia & Canada
Metallurgical - Export	000 t	4,996	6,053	(17)%	4,932	1%
Thermal - Export	000 t	1,433	769	86%	1,872	(23)%
Thermal - Domestic	000 t	1,650	1,228	34%	1,966	(16)%
South Africa
Thermal - Export	000 t	4,342	4,149	5%	4,783	(9)%
Thermal - Domestic (Eskom)	000 t	6,951	7,407	(6)%	7,435	(7)%
Thermal - Domestic (Non-Eskom)	000 t	1,702	1,360	25%	1,761	(3)%
Colombia
Thermal - Export	000 t	2,975	2,948	1%	3,002	(1)%

Australia and Canada - Export metallurgical coal production decreased by 17% following Canadian operation Peace River Coal being put on care and maintenance in Q4 2014 and lower Australian production. Export metallurgical coal production from Australia decreased by 11% to 5.0 million tonnes primarily due to tropical cyclone Marcia impacting Dawson production and railings due to closure of the Moura rail line.  The Dawson coal preparation plant maintenance shut down was brought forward to partially mitigate the impact on full year production.  Production at Moranbah was impacted by ongoing equipment design issues which should be rectified during the longwall move planned for Q3 2015.  Grasstree continued its strong performance delivering record production. 

Australian export thermal coal production increased by 86% to 1.4 million tonnes due to change in product mix and increased productivity.

South Africa - Export thermal coal production increased by 5% to 4.3 million tonnes due to productivity improvements across all export operations.

Eskom production decreased by 6% to 7.0 million tonnes mainly owing to reduced demand for New Vaal coal and planned reductions at Kriel prior to the move to the new mining areas.

Domestic non-Eskom production increased by 25% to 1.7 million tonnes due to increased domestic production at Zibulo and Greenside.

Colombia - Cerrejón's production was broadly unchanged at 3.0 million tonnes.

Full year production guidance remains unchanged at 20 to 21 million tonnes for export metallurgical coal and 28 to 30 million tonnes for export thermal coal from South Africa and Colombia.

BASE METALS AND MINERALS - COPPER

Copper		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Copper (1)	t	171,800	202,000	(15)%	174,800	(2)%

(1)       Copper production shown on a contained metal basis

Copper - Copper production decreased by 15% to 171,800 tonnes, 2% lower than Q4 2014.

Production from Los Bronces decreased by 18% to 94,700 tonnes due to lower throughput, following the planned shutdown of the smaller of the two processing plants for 51 days to manage water reserve levels, partially offset by higher ore grades. 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.  Additional water efficiency and supply projects were implemented during the period and longer term initiatives are progressing. Production levels are planned to increase over the remainder of the year as plant operating times increase.

At Collahuasi, attributable production decreased by 12% to 46,000 tonnes. This was primarily due to lower ore feed as a result of the planned primary crusher and SAG 3 maintenance, as well as unplanned stoppages caused by adverse weather conditions and recent regional flooding.

El Soldado production decreased by 38% to 6,100 tonnes due to expected lower ore availability arising from the previously reported intersection with a geological fault.

Production from Mantos Blancos and Mantoverde increased by 3% in aggregate to 25,000 tonnes, due to operational improvements, despite the impact from heavy rainfall and floods interrupting operations during the last week of March.

Full year production guidance remains unchanged at 720,000 to 750,000 tonnes.

BASE METALS AND MINERALS - NICKEL, NIOBIUM AND PHOSPHATES

NICKEL

Nickel		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Nickel	t	6,700	9,200	(27)%	6,700	0%

Nickel - Nickel production decreased by 27% to 6,700 tonnes, due to the planned Line 2 furnace rebuild at Barro Alto.  This rebuild was concluded ahead of schedule, with first metal tapped on 2 April 2015 and production is now ramping-up.  The Line 1 rebuild commenced ahead of schedule given the successful completion of the Line 2 rebuild and is scheduled to complete in Q4 2015.

Production from Codemin was unchanged at 2,300 tonnes.

Full year production guidance remains unchanged at 20,000 to 25,000 tonnes.

NIOBIUM

Niobium		Q1 2015	Q1 2014		Q1 2015 vs. Q1 2014		Q4 2014	Q1 2015 vs. Q4 2014
Niobium	t	1,300		1,100		18%	1,300	0%

Niobium - Niobium production increased by 18% to 1,300 tonnes following the start of the ramp-up of the Boa Vista Fresh Rock (BVFR) plant. Production from existing operations is expected to increase to 6,800 tonnes once the BVFR plant achieves nameplate capacity in 2017.

PHOSPHATES

Phosphates		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Phosphates
Concentrate	t	319,300	347,900	(8)%	355,600	(10)%
Phosphoric Acid	t	63,200	53,800	17%	78,600	(20)%
Fertiliser	t	238,800	267,200	(11)%	284,900	(16)%
Dicalcium phosphate (DCP)	t	36,200	31,600	15%	44,800	(19)%

Phosphates - Concentrate production decreased by 8% to 319,300 tonnes mainly due to an extended annual stoppage at the beneficiation plant and increased hardness of material. Phosphoric acid production increased by 17% as Q1 2014 was impacted by a maintenance stoppage at Catalão, with DCP production similarly increasing by 15%. Fertiliser production decreased by 11% to 238,800 tonnes due to planned plant maintenance.

PLATINUM

Platinum		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Refined
Platinum	000 oz	542	435	25%	574	(5)%
Palladium	000 oz	348	257	36%	358	(3)%
Rhodium	000 oz	65	61	7%	72	(9)%
Copper - Refined	t	3,900	3,200	22%	2,600	50%
Copper - Matte(1)	t	300	1,200	(75)%	1,400	(79)%
Nickel - Refined	t	5,700	4,900	16%	4,800	19%
Nickel - Matte(1)	t	400	1,400	(71)%	1,800	(78)%
Gold	000 oz	30	25	19%	29	4%
Equivalent refined
Platinum	000 oz	536	357	50%	594	(10)%

(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 50% to 536,000 ounces compared to 357,000 ounces in Q1 2014, which was impacted by industrial action.

Own mines and tailings retreatment platinum production doubled to 350,000 ounces as operations reached full ramp-up following the strike in 2014. Lost production in Q1 2014 as a result of the strike was approximately 185,000 ounces. Mogalakwena production increased by 13% to 100,000 ounces due to improved mining performance, recoveries and higher grades. Rustenburg delivered 106,000 ounces, Union 32,000 ounces and Amandelbult 81,000 ounces. As part of on-going optimisation of Union, the decline shaft was successfully closed in Q4 2014, reducing annual production by approximately 60,000 ounces.

Independently managed production (mined and purchased) decreased by 6% to 172,000 ounces driven mainly by lower production at BRPM and Kroondal. Production was impacted as a result of a fatal incident at BRPM North shaft in January and Section 54 safety stoppages at Kroondal.

Refined platinum production increased by 25% to 542,000 ounces, following the industrial action in Q1 2014. Refined palladium and rhodium increased for similar reasons. The mix of metals has returned to normal compositions as all mines are producing at normal rates.

Full year refined production guidance remains unchanged at 2.3 to 2.4 million ounces.

DIAMONDS

Diamonds (100% basis)		Q1 2015	Q1 2014	Q1 2015 vs. Q1 2014	Q4 2014	Q1 2015 vs. Q4 2014
Diamonds	000 carats	7,665	7,531	2%	8,366	(8)%

De Beers - Diamond production increased by 2% to 7.7 million carats driven primarily by higher grades at Venetia in South Africa.

Production at DBCM (South Africa) increased by 14% to 1.1 million carats. This was as a result of higher overall grade at Venetia, due to the commissioning of the Red Area Tailings Treatment (RATT) plant in mid-2014. The RATT processeshigher average grade, lower value material than run-of-mine ore from the pit.

Debswana's production decreased by 2% to 5.6 million carats due to a decline in grade at Orapa, which was largely offset by an increase in throughput at both Jwaneng and Orapa.

Production from the Canadian mines increased by 25% due to productivity improvement initiatives at both Snap Lake and Victor.

Diamond production decreased by 8% compared to Q4 2014 due to the planned change in mining area at Venetia, along with a focus on waste mining at Jwaneng.

Full year production guidance has been reduced from 32 to 34 million carats to 30 to 32 million carats, in light of current trading conditions.

EXPLORATION AND EVALUATION

Exploration and Evaluation expenditure for Q1 2015 totalled $75 million, a decrease of 8%.

Exploration expenditure was $37 million, an increase of 6%, mainly attributable to Copper.

Evaluation expenditure for the quarter was $38 million, down by 19%, primarily in the Kumba Iron Ore, Coal Australia and Copper businesses.

NOTE

This Production Report for the first quarter ended 31 March 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)	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Kumba Iron Ore
Lump	7,889,900	8,048,000	8,235,700	7,480,100	7,505,000	(2)%	5%
Fines	4,277,500	4,383,600	4,736,400	3,984,900	3,822,800	(2)%	12%
Total Kumba production	12,167,400	12,431,600	12,972,100	11,465,000	11,327,800	(2)%	7%
Sishen	8,885,500	9,286,300	9,260,200	8,336,600	8,657,500	(4)%	3%
Kolomela	2,972,500	2,727,800	3,379,000	2,948,400	2,512,900	9%	18%
Thabazimbi	309,400	417,500	332,900	180,000	157,400	(26)%	97%
Total Kumba production	12,167,400	12,431,600	12,972,100	11,465,000	11,327,800	(2)%	7%
Kumba sales volumes
RSA export iron ore	11,471,600	11,699,000	9,058,800	10,287,200	9,422,700	(2)%	22%
RSA domestic iron ore	1,434,600	901,800	1,129,200	1,374,000	1,414,800	59%	1%
Minas-Rio
Pellet feed (wet basis)	1,176,700	687,700	-	-	-	71%	nm
Minas-Rio sales volumes
Export - pellet feed (wet basis)	1,294,300	239,600	-	-	-	440%	nm
Samancor
Manganese ore(1)	786,700	882,100	866,000	868,300	692,200	(11)%	14%
Manganese alloys(1)(2)	72,800	80,400	68,400	72,500	64,800	(9)%	12%
Samancor sales volumes
Manganese ore	829,900	841,100	853,000	854,100	833,900	(1)%	0%
Manganese alloys	63,600	72,800	68,400	74,400	79,200	(13)%	(20)%

Coal (tonnes)	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Australia
Metallurgical - Export Coking	3,746,900	3,364,400	3,196,200	2,917,700	3,964,000	11%	(5)%
Metallurgical - Export PCI	1,248,800	1,395,800	1,493,900	1,441,800	1,659,300	(11)%	(25)%
	4,995,700	4,760,200	4,690,100	4,359,500	5,623,300	5%	(11)%
Thermal - Export	1,433,200	1,871,600	1,574,600	958,400	769,300	(23)%	86%
Thermal - Domestic	1,649,900	1,966,300	2,074,400	1,846,000	1,227,900	(16)%	34%
	3,083,100	3,837,900	3,649,000	2,804,400	1,997,200	(20)%	54%
Canada
Metallurgical - Export Coking	-	160,200	385,000	439,200	409,200	(100)%	(100)%
Metallurgical - Export PCI	-	11,200	15,000	32,000	20,800	(100)%	(100)%
	-	171,400	400,000	471,200	430,000	(100)%	(100)%
South Africa
Thermal - Export	4,341,700	4,782,800	5,007,600	4,273,600	4,149,100	(9)%	5%
Thermal - Domestic (Eskom)	6,950,700	7,434,600	8,000,200	8,146,800	7,406,900	(7)%	(6)%
Thermal - Domestic (Non-Eskom)	1,702,000	1,761,400	1,862,800	1,611,200	1,359,500	(3)%	25%
	12,994,400	13,978,800	14,870,600	14,031,600	12,915,500	(7)%	1%
Colombia
Thermal - Export	2,975,000	3,002,300	2,368,800	2,907,700	2,948,200	(1)%	1%
	2,975,000	3,002,300	2,368,800	2,907,700	2,948,200	(1)%	1%
Total Metallurgical coal production	4,995,700	4,931,600	5,090,100	4,830,700	6,053,300	1%	(17)%
Total Export Thermal coal production	8,749,900	9,656,700	8,951,000	8,139,700	7,866,600	(9)%	11%
Total Domestic Thermal coal production	10,302,600	11,162,300	11,937,400	11,604,000	9,994,300	(8)%	3%
Total Coal production	24,048,200	25,750,600	25,978,500	24,574,400	23,914,200	(7)%	1%
Weighted average achieved US$/t FOB prices
Australia and Canada
Metallurgical - Export(3)	107	105	105	109	124	2%	(14)%
Thermal - Export	61	65	73	82	79	(6)%	(23)%
Thermal - Domestic	29	33	34	35	40	(12)%	(28)%
South Africa
Thermal - Export	61	63	70	73	77	(3)%	(21)%
Thermal - Domestic	18	20	19	19	18	(10)%	0%
Colombia
Thermal - Export	58	65	67	67	68	(11)%	(15)%
Sales volumes
Australia and Canada
Metallurgical - Export(4)	5,113,400	5,025,600	5,003,800	5,152,600	5,386,200	2%	(5)%
Thermal - Export	1,418,200	2,345,400	1,703,800	897,300	1,019,700	(40)%	39%
Thermal - Domestic	1,591,000	1,989,400	2,102,300	1,870,000	1,331,400	(20)%	19%
South Africa
Thermal - Export	5,195,200	5,139,300	4,473,700	3,982,500	3,977,300	1%	31%
Thermal - Domestic	8,746,600	8,770,400	9,690,900	9,677,500	9,078,500	0%	(4)%
Colombia
Thermal - Export	3,005,100	2,732,000	3,076,800	2,858,100	2,647,100	10%	14%

Coal by mine (tonnes)	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Australia
Callide	1,857,000	2,164,700	2,318,500	1,844,600	1,229,200	(14)%	51%
Capcoal (incl. Grasstree)	2,259,100	2,074,300	1,816,300	1,847,500	1,904,700	9%	19%
Dawson	663,800	1,074,800	1,041,400	1,101,200	1,022,800	(38)%	(35)%
Drayton	707,500	920,200	817,000	708,500	659,100	(23)%	7%
Foxleigh	478,300	579,200	551,200	471,200	432,900	(17)%	10%
Grosvenor	51,600	-	-	-	-	nm	nm
Jellinbah	763,900	757,100	732,800	756,300	677,500	1%	13%
Moranbah North	1,297,600	1,027,800	1,061,900	434,600	1,694,300	26%	(23)%
	8,078,800	8,598,100	8,339,100	7,163,900	7,620,500	(6)%	6%
Canada
Peace River Coal	-	171,400	400,000	471,200	430,000	(100)%	(100)%
	-	171,400	400,000	471,200	430,000	(100)%	(100)%
South Africa
Goedehoop	1,133,800	1,245,800	1,210,200	1,177,200	1,138,400	(9)%	0%
Greenside	927,500	1,010,700	1,003,400	806,500	803,500	(8)%	15%
Zibulo	1,281,100	1,367,900	1,450,000	1,122,500	1,113,400	(6)%	15%
Kleinkopje	860,300	950,200	1,011,500	1,142,700	807,400	(9)%	7%
Landau	979,900	1,208,800	1,195,900	870,900	902,800	(19)%	9%
Mafube	361,500	414,700	525,400	413,500	321,800	(13)%	12%
New Vaal	3,548,600	3,701,400	4,755,200	4,321,200	3,895,000	(4)%	(9)%
New Denmark	872,600	1,312,400	724,900	1,091,800	638,800	(34)%	37%
Kriel	1,813,300	1,462,400	1,614,000	1,756,200	2,045,500	24%	(11)%
Isibonelo	1,215,800	1,304,500	1,380,100	1,329,100	1,248,900	(7)%	(3)%
	12,994,400	13,978,800	14,870,600	14,031,600	12,915,500	(7)%	1%
Colombia
Carbones del Cerrejón	2,975,000	3,002,300	2,368,800	2,907,700	2,948,200	(1)%	1%
	2,975,000	3,002,300	2,368,800	2,907,700	2,948,200	(1)%	1%
Total Coal production	24,048,200	25,750,600	25,978,500	24,574,400	23,914,200	(7)%	1%

Copper (tonnes) on a contained metal basis unless stated otherwise(5)	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs.  Q1 2014
Collahuasi 100% basis (Anglo American share 44%)
Ore mined	18,094,700	15,594,200	16,442,500	16,248,500	17,560,100	16%	3%
Ore processed - Oxide	1,333,300	1,552,300	1,744,800	1,659,900	1,700,500	(14)%	(22)%
Ore processed - Sulphide	11,060,300	11,991,600	11,689,600	13,194,500	12,060,400	(8)%	(8)%
Ore grade processed - Oxide (% ASCu)(6)	0.69	0.68	0.78	0.72	0.71	1%	(3)%
Ore grade processed - Sulphide (% TCu)(7)	1.08	1.10	1.12	1.03	1.09	(2)%	(1)%
Production - Copper cathode	6,500	9,100	6,200	4,400	5,300	(29)%	23%
Production - Copper in concentrate	98,000	110,400	104,000	117,400	113,600	(11)%	(14)%
Total copper production for Collahuasi	104,500	119,500	110,200	121,800	118,900	(13)%	(12)%
Anglo American's share of copper production for Collahuasi(8)	46,000	52,600	48,500	53,600	52,300	(13)%	(12)%
Anglo American Sur
Los Bronces mine(9)
Ore mined	13,548,000	15,655,600	14,215,400	15,483,900	12,311,300	(13)%	10%
Marginal ore mined	8,916,800	8,993,400	7,012,900	4,949,400	5,280,400	(1)%	69%
Ore processed - Sulphide	9,250,100	12,739,000	14,202,100	13,911,500	13,295,100	(27)%	(30)%
Ore grade processed - Sulphide (% TCu)	1.07	0.75	0.71	0.81	0.88	43%	22%
Production - Copper cathode	9,000	8,300	9,100	8,900	9,900	8%	(9)%
Production - Copper in concentrate	85,700	78,900	86,600	97,100	105,700	9%	(19)%
Production total	94,700	87,200	95,700	106,000	115,600	9%	(18)%
El Soldado mine(9)
Ore mined	1,060,800	563,900	210,700	450,300	1,893,500	88%	(44)%
Ore processed - Sulphide	1,214,000	1,762,700	1,806,600	1,777,400	1,856,900	(31)%	(35)%
Ore grade processed - Sulphide (% TCu)	0.66	0.55	0.53	0.58	0.67	20%	(2)%
Production - Copper cathode	200	400	300	300	200	(50)%	0%
Production - Copper in concentrate	5,900	7,000	6,400	8,100	9,700	(16)%	(39)%
Production total	6,100	7,400	6,700	8,400	9,900	(18)%	(38)%
Chagres Smelter(9)
Ore smelted	37,100	28,900	33,300	33,200	36,700	28%	1%
Production	36,000	28,300	32,300	32,400	35,500	27%	1%
Total copper production for Anglo American Sur	100,800	94,600	102,400	114,400	125,500	7%	(20)%
Anglo American Norte
Mantos Blancos mine
Ore processed  - Sulphide	1,073,800	1,059,300	1,156,100	1,109,000	1,078,000	1%	(0)%
Ore grade processed - Sulphide (% TCu)	0.75	0.75	0.68	0.64	0.69	0%	9%
Production - Copper cathode	6,900	7,300	6,500	7,900	5,000	(5)%	38%
Production - Copper in concentrate	6,800	6,800	6,500	6,300	6,100	0%	11%
Production total	13,700	14,100	13,000	14,200	11,100	(3)%	23%
Mantoverde mine
Ore processed - Oxide	2,279,400	2,582,100	2,634,100	2,566,100	2,530,500	(12)%	(10)%
Ore processed - Marginal ore	1,496,800	2,274,500	2,077,300	2,189,100	2,105,200	(34)%	(29)%
Ore grade processed - Oxide (% ASCu)	0.51	0.49	0.47	0.48	0.5	3%	1%
Ore grade processed - Marginal ore (% ASCu)	0.22	0.23	0.23	0.23	0.24	(6)%	(10)%
Production - Copper cathode	11,300	13,500	13,000	12,200	13,100	(16)%	(14)%
Total copper production for Anglo American Norte	25,000	27,600	26,000	26,400	24,200	(9)%	3%
Total Copper segment copper production	230,300	241,700	238,600	262,600	268,600	(5)%	(14)%
Total Attributable copper production(10)	171,800	174,800	176,900	194,400	202,000	(2)%	(15)%
Total Attributable payable copper production	166,800	169,700	171,700	186,600	197,900	(2)%	(16)%
Total Attributable sales volumes	164,800	187,400	179,300	180,800	207,600	(12)%	(21)%
Total Attributable payable sales volumes	160,100	181,700	173,900	175,400	201,600	(12)%	(21)%

Nickel (tonnes) unless stated otherwise (11)	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015  vs. Q1 2014
Barro Alto
Ore mined	235,300	400,500	1,019,300	736,600	354,000	(41)%	(34)%
Ore processed	294,600	276,000	531,900	555,500	464,000	7%	(37)%
Ore grade processed - %Ni	1.77	1.86	1.86	1.78	1.78	(5)%	(1)%
Production	4,400	4,500	8,300	8,600	6,900	(2)%	(36)%
Codemin
Ore mined	-	-	-	6,800	-	-	-
Ore processed	151,400	151,500	154,100	140,800	147,200	0%	3%
Ore grade processed - %Ni	1.66	1.66	1.67	1.67	1.67	0%	(1)%
Production	2,300	2,200	2,400	2,000	2,300	5%	0%
Total Nickel segment nickel production	6,700	6,700	10,700	10,600	9,200	0%	(27)%
Sales volumes	7,500	8,400	8,800	8,900	10,000	(11)%	(25)%

Niobium (tonnes) unless stated otherwise	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Niobium
Ore mined	291,100	166,300	424,900	356,200	38,500	75%	656%
Ore processed	501,800	377,700	237,900	238,700	229,700	33%	118%
Ore grade processed - %Nb	0.96	1.05	1.08	1.10	0.92	(9)%	4%
Production	1,300	1,300	1,200	1,100	1,100	0%	18%
Sales volumes	1,300	1,100	1,200	1,200	1,100	18%	18%

Phosphates (tonnes) unless stated otherwise	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Phosphates
Concentrate	319,300	355,600	362,700	349,500	347,900	(10)%	(8)%
Concentrate grade - %P2O5	36.9	36.8	37.3	37.1	36.8	0%	0%
Phosphoric acid	63,200	78,600	81,300	81,300	53,800	(20)%	17%
Fertiliser	238,800	284,900	284,700	275,700	267,200	(16)%	(11)%
High analysis fertiliser	37,500	50,200	60,200	44,200	30,100	(25)%	25%
Low analysis fertiliser	201,200	234,600	224,500	231,500	237,100	(14)%	(15)%
Dicalcium phosphate (DCP)	36,200	44,800	44,100	43,600	31,600	(19)%	15%
Fertiliser sales volumes	208,500	277,400	311,700	241,000	266,500	(25)%	(22)%

Platinum	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Refined production
Platinum (troy oz)	542,400	573,700	460,000	420,600	435,200	(5)%	25%
Palladium (troy oz)	348,100	357,700	316,400	294,600	256,700	(3)%	36%
Rhodium (troy oz)	65,000	71,700	48,400	48,700	60,600	(9)%	7%
Copper  refined (tonnes)(12)	3,900	2,600	2,800	3,900	3,200	50%	22%
Copper  matte (tonnes)(12)	300	1,400	1,300	2,300	1,200	(79)%	(75)%
Nickel refined (tonnes)(12)	5,700	4,800	5,200	5,600	4,900	19%	16%
Nickel matte (tonnes)(12)	400	1,800	1,800	2,700	1,400	(78)%	(71)%
Gold (troy oz)	30,100	28,900	14,600	26,700	25,400	4%	19%
Equivalent refined
Platinum (troy oz)	536,000	593,900	532,800	358,200	357,000	(10)%	50%
4E built-up head grade (g/tonne milled)(13)	3.14	3.19	3.06	2.77	2.86	(2)%	10%

De Beers	Q1 2015	Q4 2014	Q3 2014	Q2 2014	Q1 2014	Q1 2015 vs. Q4 2014	Q1 2015 vs. Q1 2014
Carats recovered
100% basis
Orapa	2,610,000	2,732,000	2,651,000	3,487,000	3,204,000	(4)%	(19)%
Letlhakane	188,000	83,000	157,000	177,000	131,000	127%	44%
Damtshaa	57,000	94,000	83,000	70,000	56,000	(39)%	2%
Jwaneng	2,777,000	3,080,000	3,333,000	2,532,000	2,367,000	(10)%	17%
Debswana	5,632,000	5,989,000	6,224,000	6,266,000	5,758,000	(6)%	(2)%
Namdeb	96,000	121,000	156,000	199,000	137,000	(21)%	(30)%
Debmarine Namibia	366,000	375,000	293,000	310,000	295,000	(2)%	24%
Namdeb Holdings	462,000	496,000	449,000	509,000	432,000	(7)%	7%
Kimberley	221,000	202,000	207,000	154,000	159,000	9%	39%
Venetia	624,000	1,060,000	776,000	834,000	531,000	(41)%	18%
Voorspoed	216,000	140,000	143,000	186,000	242,000	54%	(11)%
DBCM	1,061,000	1,402,000	1,126,000	1,174,000	932,000	(24)%	14%
Snap Lake	328,000	301,000	253,000	379,000	268,000	9%	22%
Victor	182,000	178,000	141,000	187,000	141,000	2%	29%
De Beers Canada	510,000	479,000	394,000	566,000	409,000	6%	25%
Total carats recovered	7,665,000	8,366,000	8,193,000	8,515,000	7,531,000	(8)%	2%

(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

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: [phone]		UK Paul Galloway Tel: [phone]
Emily Blyth Tel: [phone]		Edward Kite Tel: [phone]
South Africa Pranill Ramchander Tel: [phone] Shamiela Letsoalo Tel: [phone]		Sarah McNally Tel: [phone]

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

 

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