Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Anglo American PLC (AAL)

  Print      Mail a friend       Annual reports

Thursday 26 January, 2012

Anglo American PLC

Q4 2011 Production Report

RNS Number : 1975W
Anglo American PLC
26 January 2012
 



 

 

 

26 January 2012

Anglo American plc

Production Report for the fourth quarter ended 31 December 2011

 


Overview

 

·     Iron ore production increased by 5% to 12.4 million tonnes mainly due to initial production from Kolomela mine and a continued improvement in performance at Amapá

 

9 Mtpa Kolomela mine commissioned five months ahead of schedule, with first shipment from Saldanha port in December 2011

 

Production ramp up schedule for Kolomela mine of 4-5 million tonnes in 2012

 

·     Metallurgical Coal delivered record production from its Australian open cut metallurgical coal operations, resulting in a 4% increase in metallurgical coal production to 4.1 million tonnes

 

·     Export thermal coal production from South Africa and Colombia increased by 5% to 8.6 million tonnes

 

·     Copper production increased by 10% to 170,000 tonnes, and by 22% compared to Q3 2011, due to the commissioning of the Los Bronces expansion and higher ore grades at Los Bronces, Collahuasi and El Soldado

 

·     Nickel(1) production increased by 125% to 9,900 tonnes, and by 52% compared to Q3 2011, as production from Barro Alto continued to ramp up

 

·     Platinum refined production decreased by 19% to 710,000 ounces, mainly due to a greater number of safety stoppages resulting in lower mine production and increased processing of lower grade surface stockpiles. Equivalent refined platinum production declined by 9% to 583,200 ounces, due to a higher number of safety stoppages. This was offset by a strong performance at Mogalakwena's North pit and full ramp up at Unki mine

 

·     Diamond production decreased by 24% to 6.5 million carats. This reduction mainly reflects De Beers' deliberate focus on increasing waste stripping, as well as scheduled maintenance at the Debswana and DBCM operations in recognition of short-term global macro-economic volatility

 

 

This Production Report for the fourth quarter ended 31 December 2011 is unaudited.

 

Preliminary Results for the full year to 31 December 2011 will be announced on 17 February 2012.

 

 

(1)     Nickel production from the Nickel business unit

 

Iron Ore and Manganese

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Iron ore

000 t

12,427

11,808

5%

12,183

2%

Manganese ore

000 t

722

732

(1)%

808

(11)%

Manganese alloys

000 t

78

77

2%

78

1%

Attributable sales volumes

 

 

 

 

 

 

RSA export iron ore

000 t

9,600

8,977

7%

9,167

5%

RSA domestic iron ore

000 t

1,242

1,722

(28)%

1,538

(19)%

South American export iron ore

000 t

1,374

1,254

10%

1,452

(5)%

 

Iron Ore - Excellent progress was made at Kolomela mine, which was brought into production ahead of schedule. The plant was successfully commissioned during 2011, delivering production of 1.2 Mt during the fourth quarter, bringing total production for 2011 to 1.5 Mt.Sishen mine's production decreased by 4% year on year to 9.8 Mt and by 6% quarter on quarter. Production from the mine's dense media separation plant was hampered by mining feedstock constraints. Sishen mine proactively supplemented the production by temporarily adjusting the jig plant ore quality in order to operate at above design capacity.

 

In Brazil, total production of 1.3 Mt was 15% higher compared to Q4 2010 and 3% higher than Q3 2011. The increase in Q4 production was driven by the Pellet Feed Production which was 32% higher compared to Q4 2010 (Q4 2011:495 kt vs. Q4 2010:376 kt) following a process improvement throughout 2011.

 

Manganese Ore - Production was lower than Q3 2011 as planned maintenance at Hotazel Manganese Mines (South Africa) and lower plant availability due to wet weather at GEMCO (Australia) impacted performance.

 

Manganese Alloys - Alloy production was in line with prior periods.

 

 

Metallurgical Coal(1)

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Production

 

 

 

 

 

 

Export metallurgical

000 t

4,061

3,892

4%

4,015

1%

Thermal

000 t

3,359

3,728

(10)%

3,978

(16)%

Weighted average

achieved FOB prices

 

 

 

 

 

 

Export metallurgical

US$/t

234

201

16%

267

(12)%

Export thermal

US$/t

103

90

14%

98

5%

Domestic thermal

US$/t

34

32

6%

35

(3)%

Attributable sales volumes

 

 

 

 

 

 

Export metallurgical

000 t

4,010

3,704

8%

3,721

8%

Export thermal

000 t

1,850

1,602

15%

1,878

(1)%

Domestic thermal

000 t

1,853

2,250

(18)%

1,843

1%

(1)     In 2011 the Group decided to retain Peace River Coal and to manage it within the Metallurgical Coal business unit. Information presented includes Peace River Coal and comparatives have been reclassified.

 

Metallurgical Coal - The Australian open cut metallurgical coal operations delivered a record quarterly performance for Q4 2011, as flood recovery actions initiated in the first half of 2011, increased production by 57% compared to Q4 2010. The increase was in part offset by unplanned interruption at the Moranbah underground operation.

 

Thermal Coal

Q4

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Production

 

 

 

 

 

 

RSA thermal (non-Eskom)

000 t

5,846

5,885

(1)%

5,198

12%

Eskom

000 t

9,487

9,485

-

8,751

8%

RSA metallurgical

000 t

84

103

(18)%

76

12%

Colombia export thermal

000 t

2,753

2,316

19%

2,852

(3)%

Weighted average

achieved FOB prices

 

 

 

 

 

 

RSA export thermal

US$/t

107

84

27%

115

(7)%

RSA domestic thermal

US$/t

20

20

-

22

(9)%

Colombia export thermal

US$/t

98

79

24%

103

(5)%

Attributable sales volumes

 

 

 

 

 

 

RSA export thermal

000 t

5,146

4,358

18%

4,605

12%

RSA domestic thermal

000 t

10,842

10,546

3%

9,901

10%

Colombia export thermal

000 t

2,784

2,672

4%

2,901

(4)%

 

Thermal Coal - Production in South Africa was in line with Q4 2010, and improved compared to Q3 2011, mainly due to the recovery from industrial action which occurred in Q3 2011. Zibulo commenced commercial production in October 2011. Cerrejón, in Colombia, delivered a strong performance, benefiting from a reduction in weather related stoppages compared to 2010. This performance enabled Cerrejón to exceed, for the first time, its theoretical annual production capacity of 32 Mtpa.

 

Export sales volumes in South Africa increased 18% on Q4 2010 due to high stock level availability as well as optimised load out efficiencies on the operations complemented by improved Transnet Freight Rail performance.

 

 

Copper

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Copper

 t

170,000

154,400

10%

139,900

22%

 

Copper - Production of 170,000 tonnes increased by 10%, primarily due to the ramp-up of production from the expansion at Los Bronces following its commissioning in October and higher ore grades at Los Bronces, Collahuasi and El Soldado. The Los Bronces expansion produced 19,000 tonnes during the quarter, this was partly offset by production interruptions at Collahuasi owing to adverse weather conditions in December 2011 and a safety stoppage at Los Bronces after a fatal accident in September 2011.

 

As at the end of 2011, Anglo American had 138,400 tonnes of copper provisionally priced at 345 c/lb. Provisional pricing of copper sales resulted in a negative operating profit adjustment of $278 million for 2011, versus a positive operating profit adjustment of $195 million in the prior year.

 

 

Nickel

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Nickel

t

9,900

4,400

125%

6,500

52%

 

Nickel - Production increased by 125% to 9,900 tonnes reflecting the contribution of Barro Alto which delivered 4,100 tonnes in Q4 2011. At Loma de Níquel, production was 13% higher due to improved equipment availability and increased reliability of power supply for the furnaces. Production at Codemin was 75% higher due to the relining of an electric furnace during Q4 2010.



 

Platinum

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Refined

 

 

 

 

 

 

Platinum

000 oz

710

872

(19)%

647

10%

Palladium

000 oz

393

503

(22)%

376

4%

Rhodium

000 oz

97

111

(13)%

75

29%

Nickel

t

5,100

5,000

2%

4,900

4%

Equivalent refined

 

 

 

 

 

 

Platinum

000 oz

583

640

(9)%

667

(13)%

 

Platinum - Equivalent refined platinum production was 9% lower mainly due to a higher number of safety stoppages resulting in lower production from Tumela, Dishaba, Union and Rustenburg and increased processing of lower grade surface stockpiles. This was partly offset by a strong performance at Mogalakwena's North pit and ramp up at Unki mine. Mogalakwena's head grade and recoveries improved by 7% and 4% year on year respectively during the fourth quarter of 2011. Unki mine reached steady state during the fourth quarter of 2011, which is a year ahead of schedule. There were 32 safety stoppages during the fourth quarter of 2011 compared with 14 during the fourth quarter of 2010 and 16 during the third quarter of 2011. Refined production decreased by 19% year on year primarily due to lower mine output.

 

Palladium, Rhodium & Nickel - Refined production of palladium and rhodium decreased by 22% and 13% respectively, while nickel increased by 2%. These variances are due to a different source mix from operations and different pipeline processing times for each metal.

 

 

Diamonds

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Diamonds

000 carats

6,489

8,532

(24)%

9,305

(30)%

 

Diamonds - Carats recovered decreased 24% to 6.5 million carats, and 30% compared to Q3 2011, primarily reflecting a deliberate focus by De Beers to increase waste stripping, as well as scheduled maintenance at the Debswana and DBCM operations in recognition of short-term global macro-economic volatility.

 

 

Other Mining and

Industrial - Core(1)

Q4

Q4

Q4 2011

Q3

Q4 2011

2011

2010

vs.

2011

vs.

 

 

Q4 2010

 

Q3 2011

Phosphates

 t

274,900

270,900

1%

284,500

(3)%

Niobium

t

1,000

1,200

(17)%

1,100

(9)%

(1)  Assets originally identified for divestment as part of the restructuring programme announced in October 2009, are managed as a separate business unit, Other Mining and Industrial. In 2011 the Group decided to retain Copebrás and Catalão.

 

Phosphates - Phosphates production was in line with Q4 2010, however, the production mix was varied in response to changes in market demand. Production decreased by 3% to 274,900 tonnes compared to Q3 2011, reflecting softening demand.

 

Niobium - Niobium production decreased by 17% as a result of the significant change in production profile at Boa Vista, as the mine advanced further into the transition ore between weathered material and unoxidised ore, resulting in lower niobium recoveries. Niobium ore grades from the Copebrás mine were also lower leading to a decreasing niobium output from the tailings plant.

 



 

Production summary

 

The figures below include the entire output of consolidated entities and the Group's attributable share of joint ventures, joint arrangements and associates where applicable, except for De Beers which is quoted on a 100% basis.

 



% Change







Q4 2011

Q4 2011


Q4

Q3

Q2

Q1

Q4

vs.

vs.


2011

2011

2011

2011

2010

Q3 2011

Q4 2010

Iron Ore and Manganese segment (tonnes)








Iron ore

12,427,300

12,182,900

11,534,100

9,944,800

11,807,700

2%

5%

Manganese ore(1)

722,500

807,600

716,100

540,600

731,600

(11)%

(1)%

Manganese alloys(1)(2)

78,000

77,600

76,100

68,800

76,800

1%

2%









Metallurgical Coal segment (tonnes)(3)








Export metallurgical

4,060,600

4,015,000

3,949,400

2,164,700

3,891,500

1%

4%

Thermal

3,358,700

3,978,000

3,087,500

3,002,300

3,727,500

(16)%

(10)%









Thermal Coal segment

(tonnes)








RSA thermal (non-Eskom)

5,846,000

5,198,400

5,264,400

5,079,300

5,885,000

12%

(1)%

Eskom

9,487,000

8,751,400

8,782,600

8,275,000

9,484,800

8%

-

RSA metallurgical

84,500

75,600

83,800

79,500

103,000

12%

(18)%

Colombia export thermal

2,752,700

2,851,800

2,537,700

2,609,500

2,315,700

(3)%

19%









Copper segment (tonnes)(4)

170,000

139,900

150,300

138,800

154,400

22%

10%









Nickel segment (tonnes)(5)

9,900

6,500

6,600

6,100

4,400

52%

125%









Platinum segment








Platinum (troy ounces)

710,000

646,500

640,700

532,900

872,400

10%

(19)%

Palladium (troy ounces)

392,700

376,000

373,800

288,200

502,600

4%

(22)%

Rhodium (troy ounces)

96,800

75,200

79,900

85,700

111,400

29%

(13)%

Nickel (tonnes)

5,100

4,900

5,500

4,800

5,000

4%

2%

Equivalent refined








Platinum (troy ounces)

583,200

666,800

592,500

567,600

640,100

(13)%

(9)%









Diamonds segment (De Beers) (diamonds recovered - carats)








Total diamonds production for De Beers

6,489,000

9,305,000

8,138,000

7,396,000

8,532,000

(30)%

(24)%

Anglo American's share of diamonds production for De Beers

2,920,000

4,187,000

3,662,000

3,328,000

3,839,000

(30)%

(24)%









Other Mining and Industrial segment (tonnes)(6)








Phosphates

274,900

284,500

260,700

240,800

270,900

(3)%

1%

Niobium

1,000

1,100

900

900

1,200

(9)%

(17)%

South Africa Steel Products

163,100

158,000

183,100

173,200

151,000

3%

8%









Coal production by commodity (tonnes)








Metallurgical

4,145,100

4,090,600

4,033,200

2,244,200

3,994,500

1%

4%

Thermal

11,957,400

12,028,200

10,889,600

10,691,100

11,928,200

(1)%

-

Eskom

9,487,000

8,751,400

8,782,600

8,275,000

9,484,800

8%

-

(1)   Saleable production.

(2)   Production includes Medium Carbon Ferro Manganese.

(3)   Includes Peace River Coal which in 2011 was reclassified from Other Mining and Industrial to Metallurgical Coal to align with internal management reporting. Comparatives have been reclassified to align with current year presentation.

(4)   Excludes Platinum and Black Mountain mine copper production.

(5)   Excludes Platinum nickel production.

(6)   Excludes Tarmac.

 

 

 

 

 

Exploration and evaluation expenditure

 

Anglo American continued to progress with its strong exploration and evaluation programme during 2011. Exploration and evaluation operating expenditure for 2011 across all business units was $539 million, an increase of 51% compared to 2010. This was driven primarily by the advancement of prioritised expansion project studies in Australian Metallurgical Coal, Copper and Nickel, including Quellaveco, Michiquillay, Pebble and Jacaré, and increased exploration expenditure in Metallurgical Coal and Copper.

 

 

 

 

Production figures are sometimes more precise than the rounded numbers shown in this report. The percentage change will reflect the percentage change using the unrounded production figures shown in this report.

 

Forward looking statements:

 

This contains certain forward looking statements which involve risk and uncertainty because they relate to events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.

 

 

For further information, please contact:

 

Media

 

Investors

UK

James Wyatt-Tilby

Tel: +44 (0)20 7968 8759

 

UK

Leng Lau

Tel: +44 (0)20 7968 8540

 

Emily Blyth

Tel: +44 (0)20 7968 8481

 

 

Caroline Crampton (née Metcalfe)

Tel: +44 (0)20 7968 2192

South Africa

Pranill Ramchander

Tel: +27 (0)11 638 2592

 

 

Leisha Wemyss

Tel: +44 (0)20 7968 8607

 

 

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. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds.  Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive 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
 
END
 
 
MSCSEMFAIFESEFF