TIDMAAL
RNS Number : 6585O
Anglo American PLC
02 February 2023
2 February 2023
http://www.rns-pdf.londonstockexchange.com/rns/6585O_1-2023-2-1.pdf
Anglo American plc
Production Report for the fourth quarter ended 31 December
2022
Duncan Wanblad, Chief Executive of Anglo American , said: "Our
production increased by 10%(1) in the fourth quarter compared to
the same period in 2021, driven by the ongoing ramp-up at
Quellaveco which produced more than 80,000 tonnes of copper. Our
Steelmaking Coal operations also contributed by having all three of
the longwall operations running, while we saw higher rough diamond
production from De Beers and improved operational performance at
Minas-Rio and Kumba, our iron ore businesses. Our strong quarterly
improvement was tempered by weaker performance at our PGMs
operations.
"In 2023, our unwavering focus remains on ensuring a safe and
stable platform for strengthened and repeatable operational
performance, while progressing towards our sustainability ambitions
and advancing our organic growth options. The completion of the
transaction in January to combine First Mode and nuGen(TM) - our
zero emissions haulage system - is designed to accelerate the
development and commercialisation of this innovative
decarbonisation technology as we work towards carbon neutral
operations by 2040."
Q4 2022 highlights
-- Secured 100% renewable electricity supply for our operations
in Australia from 2025, effectively removing all Scope 2 emissions
from our Steelmaking Coal business.
-- Completed phase one of an integrated water project for Los
Bronces copper operation in Chile: secures desalinated water for
more than 45% of Los Bronces' needs from 2025, while also providing
clean water for local communities.
-- Copper production increased by 52%, due to the ramp-up of
production from our new Quellaveco copper mine in Peru, while
production from our operations in Chile was broadly flat.
-- Rough diamond production increased by 6%, reflecting strong
operational performance, particularly at Jwaneng, which was
partially offset by the planned completion of the final cut at
Venetia's open pit.
-- Steelmaking coal production increased by 6%, primarily due to
all three underground longwall operations operating in Q4 2022,
partially offset by the planned end of production at the Grasstree
operation in January 2022.
-- Iron ore production increased by 4%, reflecting higher plant
availability at Minas-Rio, and improved operational performance at
Kumba's Sishen mine, which more than offset the constraints on
Kolomela's production that resulted from disappointing third party
logistics performance.
-- Metal in concentrate production from our Platinum Group
Metals (PGMs) operations decreased by 10%, due to the impact of
lower grades at Mogalakwena and planned infrastructure closures at
Amandelbult.
-- Nickel production decreased by 4%, primarily due to planned
annual maintenance.
Production Q4 2022 Q4 2021 % vs. Q4 2022 2021 % vs. 2021
2021
=================== ======= ======= ======== ===== ===== ==========
Diamonds (Mct)(2) 8.2 7.7 6% 34.6 32.3 7%
Copper (kt)(3) 244 161 52% 664 647 3%
Nickel (kt)(4) 10.2 10.6 (4)% 39.8 41.7 (5)%
Platinum group
metals (koz)(5) 990 1,103 (10)% 4,024 4,299 (6)%
Iron ore (Mt)(6) 15.7 15.1 4% 59.3 63.8 (7)%
Steelmaking coal
(Mt) 4.6 4.4 6% 15.0 14.9 1%
Manganese ore (kt) 984 835 18% 3,741 3,683 2%
=================== ======= ======= ======== ===== ===== ==========
(1) Copper equivalent production basis.
(2) De Beers Group production is on a 100% basis, except for the
Gahcho Kué joint venture which is on an attributable 51% basis.
(3) Contained metal basis. Reflects copper production from the
Copper operations in Chile and Peru only (excludes copper
production from the Platinum Group Metals business unit).
(4) Reflects nickel production from the Nickel operations in
Brazil only (excludes 21.3 kt of full year 2022 nickel production
from the Platinum Group Metals business unit).
(5) Produced ounces of metal in concentrate. 5E+Au (platinum,
palladium, rhodium, ruthenium and iridium plus gold). Reflects own
mine production and purchase of concentrate.
(6) Wet basis.
Production and unit cost guidance summary
2023 production guidance(1) 2023 unit cost guidance(1)
======================== =========================== ==========================
Diamonds(2) 30-33 Mct c.$80/ct
======================== =========================== ==========================
Copper(3) 840-930 kt c.156c/lb
======================== =========================== ==========================
Nickel(4) 38-40 kt c.515c/lb
======================== =========================== ==========================
Platinum Group Metals(5) 3.6-4.0 Moz c.$1,025/oz
======================== =========================== ==========================
Iron Ore(6) 57-61 Mt c.$39/t
======================== =========================== ==========================
Steelmaking Coal(7) 16-19 Mt c.$105/t
======================== =========================== ==========================
(1) Unit costs exclude royalties, depreciation and include
direct support costs only. FX rates used for 2023 costs: 17
ZAR:USD, 1.5 AUD:USD, 5.3 BRL:USD, 900 CLP:USD, 3.8 PEN:USD.
(2) Production on a 100% basis, except for the Gahcho Kué joint
venture, which is on an attributable 51% basis, subject to trading
conditions. Venetia continues to transition to underground
operations - first production is expected in 2023. Unit cost is
based on De Beers' share of production.
(3) Copper business unit only. On a contained-metal basis. Total
copper production is the sum of Chile and Peru: Chile: 530-580 kt
and Peru: 310-350 kt. Production in Chile is subject to water
availability, and in Peru is subject to any socio-political
effects. Unit cost total is a weighted average based on the
mid-point of production guidance. Chile: c.190c/lb. Peru:
c.100c/lb.
(4) Nickel operations in Brazil only. The Group also produces
approximately 20 kt of nickel on an annual basis as a co-product
from the PGM operations.
(5) 5E + gold produced metal in concentrate ounces. Includes own
mined production (65%) and purchased concentrate volumes (35%). The
split of metals differs for own mined and purchased concentrate,
refer to FY2021 results presentation slide 38 for indicative split
of own mined volumes. 2023 metal in concentrate production is
expected to be 1.6-1.8 Moz of platinum, 1.2-1.3 Moz of palladium
and 0.8-0.9 Moz of other PGMs and gold. 5E + gold refined
production is expected to be 3.6-4.0 Moz, subject to the impact of
Eskom load-shedding. Unit cost is per own mined 5E + gold PGMs
metal in concentrate ounce.
(6) Wet basis. Total iron ore is the sum of operations at
Minas-Rio in Brazil and Kumba in South Africa. Kumba: 35-37 Mt and
Minas-Rio: 22-24 Mt. Kumba production is subject to the third party
rail and port performance. Unit cost total is a weighted average
based on the mid-point of production guidance. Kumba: c.$44/t and
Minas-Rio: c.$32/t .
(7) Production excludes thermal coal by-product from Australia.
FOB unit cost comprises managed operations and excludes royalties
and study costs.
Realised prices
FY 2022 FY 2021 H2 2022 H1 2022 FY 2022 H2 2022
vs. vs. H1
FY 2021 2022
================================ ======= ======= ======= ======= ======== ========
De Beers
Consolidated average realised
price ($/ct)(1) 197 146 179 213 35 % (16) %
Average price index(2) 142 115 145 140 23 % 4 %
Copper (USc/lb)(3) 385 453 369 401 (15) % (8) %
Copper Chile (USc/lb)(4) 386 453 366 401 (15) % (9) %
Copper Peru (USc/lb) 379 n/a 379 n/a n/a n/a
Nickel (US$/lb) 10.26 7.73 9.27 11.59 33 % (20) %
Platinum Group Metals
Platinum (US$/oz)(5) 962 1,083 960 964 (11) % 0 %
Palladium (US$/oz)(5) 2,076 2,439 2,000 2,147 (15) % (7) %
Rhodium (US$/oz)(5) 15,600 19,613 13,865 17,131 (20) % (19) %
Basket price (US$/PGM oz)(6) 2,551 2,761 2,415 2,671 (8) % (10) %
Iron Ore - FOB prices(7) 111 157 88 135 (29) % (35) %
Kumba Export (US$/wmt)(8) 113 161 87 135 (30) % (36) %
Minas-Rio (US$/wmt)(9) 108 150 89 134 (28) % (34) %
Steelmaking Coal - HCC
(US$/t)(10) 310 211 263 407 47 % (35) %
Steelmaking Coal - PCI
(US$/t)(10) 271 138 255 322 96 % (21) %
================================ ======= ======= ======= ======= ======== ========
(1) Consolidated average realised price based on 100% selling
value post-aggregation.
(2) Average of the De Beers price index for the Sights within
the 12-month period. The De Beers price index is relative to 100 as
at December 2006.
(3) Average realised total copper price is a weighted average of
the Copper Chile and Copper Peru realised prices.
(4) The realised price for Copper Chile excludes third party
sales volumes.
(5) The realised price excludes trading.
(6) Price for a basket of goods per PGM oz. The dollar basket
price is the net sales revenue from all metals (PGMs, base metals
and other metals), excluding trading, per 5E + gold sold ounces
(own mined and purchased concentrate).
(7) Average realised total iron ore price is a weighted average
of the Kumba and Minas-Rio realised prices.
(8) Average realised export basket price (FOB Saldanha) (wet
basis as product is shipped with 1.6% moisture). The realised
prices differ to Kumba's standalone results due to sales to other
Group companies. Average realised export basket price (FOB
Saldanha) on a dry basis is $115/t (FY 2021: $164/t), higher than
the dry 62% Fe benchmark price of $102/t (FOB South Africa,
adjusted for freight).
(9) Average realised export basket price (FOB Açu) (wet basis as
product is shipped with 9% moisture).
(10) Weighted average coal sales price achieved at managed
operations. Australian thermal coal by-product FY 2022 was US$310/t
and FY 2021 was US$120/t, a 158% increase. H2 2022 was $329/t and
H1 2022 was $280/t, a 18% increase.
De Beers
De Beers(1) (000 Q4 2022 Q4 2022 2022
carats) vs. Q4 vs. Q3 vs. 2021
Q4 Q4 2021 Q3 2022
======================= ======= ======= =========
2022 2021 2022 2022 2021
======================= ===== ===== ======= ===== ======= ====== ====== =========
(13)
Botswana 5,790 5,236 11 % 6,647 % 24,142 22,326 8 %
Namibia 590 392 51 % 531 11 % 2,137 1,467 46 %
(27) (43)
South Africa 948 1,292 % 1,651 % 5,515 5,306 4 %
(11)
Canada 827 771 7 % 741 12 % 2,815 3,177 %
(15)
Total carats recovered 8,155 7,691 6 % 9,570 % 34,609 32,276 7 %
======================= ===== ===== ======= ===== ======= ====== ====== =========
Rough diamond production increased by 6% to 8.2 million carats,
reflecting strong operational performance across the assets,
partially offset by the planned completion of the final cut at
Venetia's open pit.
In Botswana, production increased by 11% to 5.8 million carats,
primarily driven by strong plant performance, particularly at
Jwaneng.
Namibia production increased by 51% to 0.6 million carats,
primarily driven by the continued strong performance from the
Benguela Gem vessel and the treatment of higher grade ore at the
land operations.
South Africa production decreased by 27% to 0.9 million carats,
due to the planned completion of the final cut at Venetia's open
pit. The mining of the open pit was completed in December and the
mine will transition to underground operations in 2023.
Production in Canada increased by 7% to 0.8 million carats,
primarily driven by the treatment of higher grade ore.
Midstream polished diamond inventories continued to build in the
fourth quarter, as retailers restocked more cautiously amidst the
growing economic uncertainty. This led to downward pressure on
wholesale polished prices. However, demand for De Beers' rough
diamonds remained steady, with rough diamond sales totalling 7.3
million carats (6.6 million carats on a consolidated basis)(2) from
two Sights, compared with 7.7 million carats (7.2 million carats on
a consolidated basis)(2) from three Sights in Q4 2021, and 9.1
million carats (8.5 million carats on a consolidated basis)(2) from
three Sights in Q3 2022.
The full year consolidated average realised price increased by
35% to $197/ct (2021: $146/ct), driven by a 23% increase in the
rough diamond price index, as well as selling a larger proportion
of higher value rough diamonds in the first half of the year. The
increase in the rough price index reflected overall positive
consumer demand for diamond jewellery and was supported by De
Beers' proposition of provenance-assured diamonds.
2023 Guidance
Production guidance(1) for 2023 is 30-33 million carats (100%
basis), subject to trading conditions.
Unit cost guidance for 2023 is c.$80/ct.
(1) De Beers Group production is on a 100% basis, except for the
Gahcho Kué joint venture which is on an attributable 51% basis.
(2) Consolidated sales volumes exclude De Beers Group's JV
partners' 50% proportionate share of sales to entities outside De
Beers Group from the Diamond Trading Company Botswana and the
Namibia Diamond Trading Company, which are included in total sales
volume (100% basis).
De Beers(1) Q4 Q3 Q2 Q1 Q4 Q4 2022 Q4 2022 2022
vs. vs. vs.
Q4 2021 Q3 2022 2021
========================= ======== ======== ======
2022 2022 2022 2022 2021 2022 2021
========================= ===== ===== ====== ====== ===== ======== ======== ====== ====== ======
Carats recovered (000
carats)
100% basis (unless
stated)
(12)
Jwaneng 3,126 3,567 3,120 3,632 2,679 17 % % 13,445 12,893 4 %
(14)
Orapa(2) 2,664 3,080 2,401 2,552 2,557 4 % % 10,697 9,433 13 %
(13)
Total Botswana 5,790 6,647 5,521 6,184 5,236 11 % % 24,142 22,326 8 %
Debmarine Namibia 439 423 488 375 330 33 % 4 % 1,725 1,137 52 %
144
Namdeb (land operations) 151 108 77 76 62 % 40 % 412 330 25 %
Total Namibia 590 531 565 451 392 51 % 11 % 2,137 1,467 46 %
(27) (43)
Venetia 948 1,651 1,220 1,696 1,292 % % 5,515 5,306 4 %
(27) (43)
Total South Africa 948 1,651 1,220 1,696 1,292 % % 5,515 5,306 4 %
Gahcho Kué (51% (11)
basis) 827 741 643 604 771 7 % 12 % 2,815 3,177 %
(11)
Total Canada 827 741 643 604 771 7 % 12 % 2,815 3,177 %
========================= ===== ===== ====== ====== ===== ======== ======== ====== ====== ======
(15)
Total carats recovered 8,155 9,570 7,949 8,935 7,691 6 % % 34,609 32,276 7 %
========================= ===== ===== ====== ====== ===== ======== ======== ====== ====== ======
Sales volumes
Total sales volume (5) (20) (7)
(100%) (Mct)(3) 7.3 9.1 9.4(4) 7.9(4) 7.7 % % 33.7 36.3 %
Consolidated sales (8) (22) (9)
volume (Mct)(3) 6.6 8.5 8.3(4) 7.0(4) 7.2 % % 30.4 33.4 %
Number of Sights (sales
cycles) 2 3 3(4) 2(4) 3 10 10
========================= ===== ===== ====== ====== ===== ======== ======== ====== ====== ======
(1) De Beers Group production is on a 100% basis, except for the
Gahcho Kué joint venture which is on an attributable 51% basis.
(2) Orapa constitutes the Orapa Regime which includes Orapa,
Letlhakane and Damtshaa.
(3) Consolidated sales volumes exclude De Beers Group's JV
partners' 50% proportionate share of sales to entities outside De
Beers Group from the Diamond Trading Company Botswana and the
Namibia Diamond Trading Company, which are included in total sales
volume (100% basis).
(4) Due to the completion of Sight 3 in April 2022, the sales
were recognised in Q2 2022.
Copper
Copper(1) (tonnes) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
vs. Q4 vs. Q3 vs. 2021
2021 2022
=================== ======= ======= =========
2022 2021 2022 2022 2021
=================== ======= ======= ======= ======= ======= ======= ======= =========
Copper 244,300 160,700 52 % 146,800 66 % 664,500 647,200 3 %
(13)
Copper Chile 162,300 160,700 1 % 126,500 28 % 562,200 647,200 %
Copper Peru 82,000 n/a n/a 20,300 304 % 102,300 n/a n/a
=================== ======= ======= ======= ======= ======= ======= ======= =========
(1) Copper production shown on a contained metal basis. Reflects
copper production from the Copper operations in Chile and Peru only
(excludes copper production from the Platinum Group Metals business
unit).
Copper production increased by 52% to 244,300 tonnes, due to the
ramp-up of production from Quellaveco in Peru, while Chile's
production was broadly flat.
Chile - Copper production increased by 1% to 162,300 tonnes,
primarily due to higher grade at El Soldado, partially offset by
planned lower grades at Collahuasi.
Production from Los Bronces was broadly flat at 84,300 tonnes.
Copper grade, recovery and plant stability improved in Q4 vs. Q3,
however, the impact from ore hardness remains an ongoing
challenge.
At Collahuasi, attributable production decreased by 5% to 62,900
tonnes, as higher throughput from strong plant performance was
offset by planned lower ore grades (1.08% vs 1.18%).
Production from El Soldado increased by 54% to 15,100 tonnes,
driven by planned higher grades (0.95% vs 0.63%), reflecting
production from a new phase of the mine.
Chile's central zone continues to face severe drought
conditions. While the rain and snowfall deficit decreased during
the second half of 2022, the outlook for 2023 remains very dry and
these conditions place pressure on water availability. In the short
term, various management initiatives to improve water efficiency
and secure alternative sources of water continue to mitigate the
impact on production. An agreement to secure desalinated water
supply for more than 45% of Los Bronces' water needs from 2025 was
completed in Q4 2022. This is the first step of an integrated plan
to eliminate the use of fresh water at the Los Bronces
operation.
2022 sales volumes were 563,000 tonnes at an average realised
price of 386c/lb, which is lower than the average LME price of
400c/lb, reflecting the impact of provisional pricing adjustments
and the timing of sales across the period. At 31 December 2022,
166,900 tonnes of copper were provisionally priced at 379c/lb.
Los Bronces sales of copper concentrate in the first half of
2023, and in particular the first quarter, will be lower as a
result of the fire at the Ventanas port. Alternative export routes
are being secured and any reduction in sales in the first half is
expected to be fully recovered in the second half of the year.
Peru - Following first production from the Quellaveco mine in
July 2022, the operational ramp-up continued during the fourth
quarter, with 82,000 tonnes produced, taking the full year
production to 102,300 tonnes. The second processing line started up
in September, with regulatory clearances received in early
December. Quellaveco is expected to ramp-up fully around
mid-2023.
2022 sales volumes were 77,500 tonnes at an average realised
price of 379c/lb, higher than the average LME price of 362c/lb(1) ,
reflecting the benefit of provisional pricing adjustments since
shipments commenced. At 31 December 2022, 74,800 tonnes of copper
were provisionally priced at 380c/lb.
2023 Guidance
Production guidance for 2023 is 840,000-930,000 tonnes (Chile
530,000-580,000 tonnes; Peru 310,000-350,000 tonnes). Production in
Chile is subject to water availability, and in Peru is subject to
any socio-political effects.
Unit cost guidance for 2023 is c.156c/lb (Chile c.190c/lb; Peru
c.100c/lb).
(1) Average LME price calculated from 26 September 2022 onwards,
reflecting the commencement of sales for Copper Peru.
Copper(1) Q4 Q3 Q2 Q1 Q4 Q4 Q4 2022
2022 2022 vs.
vs. vs. 2021
Q4 Q3
2021 2022
================ ===== ===== =====
2022 2022 2022 2022 2021 2022 2021
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Total copper
production 244,300 146,800 133,900 139,500 160,700 52 % 66 % 664,500 647,200 3 %
Total copper
sales
volumes 242,700 132,900 132,800 132,100 173,400 40 % 83 % 640,500 641,100 0 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Copper Chile
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Los Bronces
mine(2)
Ore mined 13,133,900 11,389,900 13,256,600 8,976,100 11,056,800 19 % 15 % 46,756,500 43,784,900 7 %
Ore processed (3) (9)
- Sulphide 12,959,300 9,848,900 11,992,800 11,142,600 13,293,500 % 32 % 45,943,600 50,697,500 %
Ore grade
processed
-
Sulphide (% (2) (12)
TCu)(3) 0.69 0.58 0.57 0.62 0.70 % 19 % 0.62 0.70 %
Production -
Copper (2) (3) (1)
cathode 10,200 10,500 8,600 10,100 10,400 % % 39,400 39,900 %
Production -
Copper (1) (20)
in concentrate 74,100 46,400 55,700 55,300 74,500 % 60 % 231,500 287,800 %
(1) (17)
Total production 84,300 56,900 64,300 65,400 84,900 % 48 % 270,900 327,700 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Collahuasi 100%
basis
(Anglo American
share 44%)
(25) (11) (20)
Ore mined 17,975,000 20,217,100 22,025,700 22,004,800 23,940,600 % % 82,222,600 102,431,100 %
Ore processed
- Sulphide 14,797,300 14,339,600 14,337,800 13,841,700 13,979,000 6 % 3 % 57,316,400 55,681,300 3 %
Ore grade
processed
-
Sulphide (% (8) (11)
TCu)(3) 1.08 1.08 1.10 1.18 1.18 % 1 % 1.11 1.25 %
Production -
Copper (5) (9)
in concentrate 142,900 137,400 141,000 149,400 150,100 % 4 % 570,700 630,000 %
Anglo American's
44% share of
copper
production for (5) (9)
Collahuasi 62,900 60,400 62,100 65,700 66,000 % 4 % 251,100 277,200 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
El Soldado
mine(2)
236
Ore mined 3,277,100 1,942,400 948,700 611,100 975,500 % 69 % 6,779,300 6,178,500 10 %
Ore processed (1) (1)
- Sulphide 1,898,200 1,926,500 1,914,100 1,809,700 1,909,400 % % 7,548,500 7,451,300 1 %
Ore grade
processed
-
Sulphide (% (11)
TCu)(3) 0.95 0.59 0.50 0.57 0.63 50 % 61 % 0.65 0.73 %
Production -
Copper (5)
in concentrate 15,100 9,200 7,500 8,400 9,800 54 % 64 % 40,200 42,300 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Chagres
Smelter(2)
(20) (9) (7)
Ore smelted(4) 23,400 25,700 20,600 30,900 29,200 % % 100,600 108,000 %
(21) (10) (7)
Production 22,500 25,000 24,900 25,100 28,400 % % 97,500 104,800 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Total copper (13)
production(5) 162,300 126,500 133,900 139,500 160,700 1 % 28 % 562,200 647,200 %
Total payable
copper (13)
production 156,000 121,600 128,500 134,100 154,100 1 % 28 % 540,200 621,100 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Total copper
sales (2) (12)
volumes 170,500 127,600 132,800 132,100 173,400 % 34 % 563,000 641,100 %
Total payable (1) (12)
sales volumes 164,000 122,200 127,500 126,900 166,200 % 34 % 540,600 612,500 %
Third party (43) (37) (2)
sales(6) 79,500 126,600 150,900 65,300 138,500 % % 422,300 431,500 %
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Copper Peru
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Quellaveco
mine(7)
882
Ore mined 11,063,300 8,487,000 4,645,400 3,235,300 1,127,100 % 30 % 27,431,000 1,127,100 n/a
Ore processed 209
- Sulphide 8,851,800 2,867,600 - - - n/a % 11,719,400 - n/a
Ore grade
processed
-
Sulphide (%
TCu)(3) 1.17 0.96 - - - n/a 22 % 1.12 - n/a
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Total copper 304
production 82,000 20,300 - - - n/a % 102,300 - n/a
Total payable
copper 305
production 79,300 19,600 - - - n/a % 98,900 - n/a
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
Total copper
sales
volumes 72,200 5,300 - - - n/a n/a 77,500 - n/a
Total payable
sales volumes 69,700 5,100 - - - n/a n/a 74,800 - n/a
================ ========== ========== ========== ========== ========== ===== ===== ========== =========== =====
(1) Excludes copper production from the Platinum Group Metals
business unit. Units shown are tonnes unless stated otherwise.
(2) Anglo American ownership interest of Los Bronces, El Soldado
and the Chagres Smelter is 50.1%. Production is stated at 100% as
Anglo American consolidates these operations.
(3) TCu = total copper.
(4) Copper contained basis.
(5) Total copper production includes Anglo American's 44%
interest in Collahuasi.
(6) Relates to sales of copper not produced by Anglo American
operations .
(7) Anglo American ownership interest of Quellaveco is 60%.
Production is stated at 100% as Anglo American consolidates this
operation.
Nickel
Nickel (tonnes) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
vs. Q4 vs. Q3 vs. 2021
2021 2022
================ ======= ======= =========
2022 2021 2022 2022 2021
================ ====== ====== ======= ====== ======= ====== ====== =========
Nickel 10,200 10,600 (4) % 10,000 2 % 39,800 41,700 (5) %
================ ====== ====== ======= ====== ======= ====== ====== =========
Nickel production decreased by 4% to 10,200 tonnes, primarily
due to planned annual maintenance at Barro Alto as well as the
impact of high rainfall in December.
The full year average realised price for nickel of $10.26/lb was
12% lower than the market price, primarily reflecting the
ferronickel discount to LME grade nickel.
2023 Guidance
Production guidance for 2023 is 38,000-40,000 tonnes.
Unit cost guidance for 2023 is c.515c/lb.
Nickel (tonnes) Q4 Q3 Q2 Q1 Q4
==================== ======= ======= =========
Q4 2022 Q4 2022
vs. Q4 vs. Q3 2022
2022 2022 2022 2022 2021 2021 2022 2022 2021 vs. 2021
==================== ======= ========= ======= ======= ======= ======= ======= ========= ========= =========
Barro Alto
(28) (3)
Ore mined 973,700 1,349,100 758,300 343,700 719,300 35 % % 3,424,800 3,514,900 %
(13) (3) (2)
Ore processed 570,600 589,000 618,100 643,900 654,400 % % 2,421,600 2,477,000 %
Ore grade
processed (1) (4)
- %Ni 1.51 1.52 1.52 1.42 1.50 1 % % 1.49 1.55 %
(7) (2) (4)
Production 8,000 8,200 8,600 7,900 8,600 % % 32,700 33,900 %
==================== ======= ========= ======= ======= ======= ======= ======= ========= ========= =========
Codemin
(88)
Ore mined(1) 800 - - - - n/a n/a 800 6,800 %
(5)
Ore processed 148,500 133,500 134,000 115,100 141,700 5 % 11 % 531,100 561,500 %
Ore grade
processed (6) (7)
- %Ni 1.48 1.46 1.42 1.41 1.57 % 1 % 1.44 1.55 %
(9)
Production 2,200 1,800 1,700 1,400 2,000 10 % 22 % 7,100 7,800 %
==================== ======= ========= ======= ======= ======= ======= ======= ========= ========= =========
Total nickel (4) (5)
production(2) 10,200 10,000 10,300 9,300 10,600 % 2 % 39,800 41,700 %
==================== ======= ========= ======= ======= ======= ======= ======= ========= ========= =========
(7)
Sales volumes 11,800 10,400 7,800 9,000 10,400 13 % 13 % 39,000 42,100 %
==================== ======= ========= ======= ======= ======= ======= ======= ========= ========= =========
(1) The prior period ore mined for Codemin has been restated.
6,800 tonnes ore mined in Q3 2021.
(2) Excludes nickel production from the Platinum Group Metals
business unit.
Platinum Group Metals (PGMs)
PGMs (000 oz)(1) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
vs. Q4 vs. Q3 vs. 2021
2021 2022
======================== ======= ======= =========
2022 2021 2022 2022 2021
======================== ======== ======== ======= ===== ======= ===== ===== =========
Metal in concentrate (10)
production 990 1,103 % 1,046 (5) % 4,024 4,299 (6) %
(11)
Own mined(2) 657 734 % 683 (4) % 2,649 2,858 (7) %
Purchase of concentrate (10)
(POC)(3) 334 369 % 363 (8) % 1,375 1,440 (5) %
======================== ======== ======== ======= ===== ======= ===== ===== =========
(37) (12) (25)
Refined production(4) 877 1,391 % 995 % 3,831 5,138 %
======================== ======== ======== ======= ===== ======= ===== ===== =========
(1) Ounces refer to troy ounces. PGMs consists of 5E+Au
(platinum, palladium, rhodium, ruthenium and iridium plus
gold).
(2) Includes managed operations and 50% of joint operation
production.
(3) Includes the other 50% of joint operation production, as
well as the purchase of concentrate from third parties.
(4) Refined production excludes toll refined material.
Metal in concentrate production
Own mined production decreased by 11% to 656,600 ounces,
primarily due to lower grades at Mogalakwena, as well as planned
infrastructure closures at Amandelbult, partially offset by a
strong performance at Mototolo.
Mogalakwena production decreased by 15% to 256,700 ounces as a
result of mining in a lower grade area. Production at Amandelbult
decreased by 17% to 176,600 ounces, primarily due to planned
infrastructure closures and the closure of the Merensky
Concentrator. Unki was impacted by maintenance at the concentrator
and lower grade leading to a 17% decrease in production to 52,600
ounces. These were partially offset by a 26% increase in production
from Mototolo, reflecting a strong mining performance, that
benefited from higher grade and recovery. Joint operations were
broadly flat at 99,000 ounces.
Purchase of concentrate was 10% lower at 333,800 ounces, due to
lower third party receipts.
Refined production
Refined production decreased by 37% to 877,200 ounces, as the
Polokwane smelter was decommissioned for its first full structural
rebuild in twelve years. The rebuild was completed at the end of Q4
2022 and by the end of January 2023, the ramp-up was largely
completed.
Sales
Sales volumes decreased by 31%, in line with refined
production.
The full year average realised basket price was $2,551/PGM
ounce, reflecting lower market prices.
2023 Guidance
Production guidance (metal in concentrate) for 2023 is 3.6-4.0
million ounces(1) . Refined production guidance for 2023 is 3.6-4.0
million ounces, subject to the impact of Eskom load-shedding.
Unit cost guidance for 2023 is c.$1,025/PGM ounce.
(1) Metal in concentrate production is expected to be 1.6-1.8
million ounces of platinum, 1.2-1.3 million ounces of palladium and
0.8-0.9 million ounces of other PGMs and gold; with own mined
output accounting for 65%.
Q4 Q3 Q2 Q1 Q4 Q4 2022 Q4 2022 2022
vs. vs. vs.
Q4 2021 Q3 2022 2021
======== ======== =======
2022 2022 2022 2022 2021 2022 2021
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
M&C PGMs production (10) (5) (6)
(000 oz)(1) 990.4 1,046.1 1,031.5 956.0 1,103.4 % % 4,024.0 4,298.7 %
(11) (4) (7)
Own mined 656.6 683.2 686.3 623.1 734.2 % % 2,649.2 2,858.3 %
(15) (1) (16)
Mogalakwena 256.7 259.3 261.4 248.8 300.8 % % 1,026.2 1,214.6 %
(17) (8) (8)
Amandelbult 176.6 192.6 183.4 159.9 213.6 % % 712.5 773.2 %
(17) (12)
Unki 52.6 59.9 66.3 53.3 63.2 % % 232.1 204.6 13 %
(5)
Mototolo 71.7 75.4 75.6 67.2 56.9 26 % % 289.9 244.4 19 %
(1) (8)
Joint operations(2) 99.0 96.0 99.6 93.9 99.7 % 3 % 388.5 421.5 %
(10) (8) (5)
Purchase of concentrate 333.8 362.9 345.2 332.9 369.2 % % 1,374.8 1,440.4 %
(1) (8)
Joint operations(2) 99.0 96.0 99.6 93.9 99.7 % 3 % 388.5 421.5 %
(13) (12) (3)
Third parties 234.8 266.9 245.6 239.0 269.5 % % 986.3 1,018.9 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
Refined PGMs production (37) (12) (25)
(000 oz)(1)(3) 877.2 994.8 1,240.6 718.5 1,391.3 % % 3,831.1 5,138.4 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
By metal:
(40) (14) (26)
Platinum 391.2 457.2 600.4 334.1 653.5 % % 1,782.9 2,399.9 %
(34) (12) (26)
Palladium 278.5 317.1 374.8 228.1 423.2 % % 1,198.5 1,627.5 %
(47) (20) (28)
Rhodium 51.7 64.8 86.4 46.3 97.7 % % 249.2 347.2 %
(28) (21)
Other PGMs and gold 155.8 155.7 179.0 110.0 216.9 % 0 % 600.5 763.8 %
(16) (16) (4)
Nickel (tonnes) 4,800 5,700 6,200 4,600 5,700 % % 21,300 22,300 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
Tolled material (000 (4) (8)
oz)(4) 173.1 151.3 143.4 154.8 179.5 % 14 % 622.6 673.7 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
PGMs sales from production (31) (5) (26)
(000 oz)(1)(5) 883.4 933.5 1,206.2 838.2 1,285.2 % % 3,861.3 5,214.4 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
Third party PGMs sales 189 140
(000 oz)(1)(6) 789.6 403.4 256.0 400.9 272.9 % 96 % 1,849.9 770.6 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
4E head grade (g/t (9) (4) (7)
milled)(7) 3.19 3.33 3.33 3.24 3.49 % % 3.27 3.50 %
=========================== ===== ======= ======= ===== ======= ======== ======== ======= ======= =======
(1) M&C refers to metal in concentrate. Ounces refer to troy
ounces. PGMs consists of 5E+Au (platinum, palladium, rhodium,
ruthenium and iridium plus gold).
(2) The joint operations are Modikwa and Kroondal. Platinum owns
50% of these operations, which is presented under 'Own mined'
production, and purchases the remaining 50% of production, which is
presented under 'Purchase of concentrate'.
(3) Refined production excludes toll material.
(4) Tolled volume measured as the combined content of: platinum,
palladium, rhodium and gold, reflecting the tolling agreements in
place.
(5) PGMs sales volumes from production are generally 65% own
mined and 35% purchases of concentrate though this may vary from
quarter to quarter.
(6) Relates to sales of metal not produced by Anglo American
operations.
(7) 4E: the grade measured as the combined content of: platinum,
palladium, rhodium and gold, excludes tolled material. Minor metals
are excluded due to variability.
Iron Ore
Iron Ore (000 t) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
vs. Q4 vs. Q3 vs. 2021
2021 2022
================= ======= ======= =========
2022 2021 2022 2022 2021
================= ====== ====== ======= ====== ======= ====== ====== =========
Iron Ore(1) 15,682 15,051 4 % 16,060 (2) % 59,281 63,808 (7) %
Kumba(2) 9,961 9,701 3 % 9,977 0 % 37,700 40,862 (8) %
Minas-Rio(3) 5,721 5,350 7 % 6,083 (6) % 21,582 22,945 (6) %
================= ====== ====== ======= ====== ======= ====== ====== =========
(1) Total iron ore is the sum of Kumba and Minas-Rio.
(2) Volumes are reported as wet metric tonnes. Product is
shipped with 1.6% moisture.
(3) Volumes are reported as wet metric tonnes. Product is
shipped with 9% moisture.
Iron ore production increased by 4% to 15.7 million tonnes,
reflecting a 7% increase at Minas-Rio and a 3% increase at
Kumba.
K umba - Total production increased to 10.0 million tonnes,
primarily driven by a 7% increase at Sishen to 7.0 million tonnes,
reflecting an improved operational performance. Kolomela decreased
by 7% to 3.0 million tonnes, as production was constrained by high
stock levels at the mine due to the industrial action at Transnet
(the third party rail and port operator), as well as sub-optimal
rail performance following their Q4 annual shut-down for rail and
port maintenance.
Total sales decreased by 34% to 7.1 million tonnes(1) , in light
of the disappointing third party logistics performance, resulting
in low levels of finished stock at the port.
For the full year, Kumba's iron (Fe) content averaged 63.8%
(2021: 64.1%), while the average lump:fines ratio was 67:33 (2021:
69:31).
The full year average realised price of $113/tonne(1) (FOB South
Africa, wet basis) was 13% higher than the 62% Fe benchmark price
of $100/tonne (FOB South Africa, adjusted for freight and
moisture), reflecting the lump and Fe content quality premiums that
the Kumba products attract, partly offset by the impact of
provisionally priced sales volumes.
Minas-Rio - Production increased by 7% to 5.7 million tonnes,
primarily due to higher plant and mining equipment availability,
despite particularly high rainfall in December that has continued
into early 2023.
The full year average realised price of $108/tonne (FOB Brazil,
wet basis) was in line with the Metal Bulletin 66 price of
$108/tonne (FOB Brazil, adjusted for freight and moisture), which
reflects the premium for our high quality product, including higher
(67%) Fe content, but was offset by the impact of provisionally
priced volumes.
2023 Guidance
Production guidance (wet basis) for 2023 is 57-61 million tonnes
(Kumba 35-37 million tonnes; Minas-Rio 22-24 million tonnes). Kumba
is subject to third party rail and port performance.
Unit cost guidance (wet basis) for 2023 is c.$39/tonne (Kumba
c.$44/tonne; Minas-Rio c.$32/tonne).
(1) Sales volumes and realised price are reported on a wet basis
and differ to Kumba's standalone results due to sales to other
Group companies.
Iron Ore Q4 2022 Q4 2022 2022
(tonnes) vs. Q4 vs. Q3 vs.
Q4 Q3 Q2 Q1 Q4 2021 2022 2021
============== ======= ======= =======
2022 2022 2022 2022 2021 2022 2021
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Iron Ore (2) (7)
production(1) 15,682,400 16,060,000 14,373,900 13,164,900 15,050,800 4 % % 59,281,200 63,807,600 %
Iron Ore (17) (12) (8)
sales(1) 13,886,700 15,799,200 14,470,800 13,828,700 16,775,700 % % 57,985,400 63,284,500 %
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Kumba (8)
production 9,961,400 9,977,300 9,468,800 8,292,000 9,701,300 3 % 0 % 37,699,500 40,862,200 %
(10)
Lump 6,523,000 6,530,300 6,229,900 5,387,700 6,419,900 2 % 0 % 24,670,900 27,552,500 %
(2)
Fines 3,438,400 3,447,000 3,238,900 2,904,300 3,281,400 5 % 0 % 13,028,600 13,309,700 %
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Kumba
production
by mine
(1) (4)
Sishen 7,010,500 7,085,600 7,105,500 5,816,100 6,538,200 7 % % 27,017,700 28,014,500 %
(7) (17)
Kolomela 2,950,900 2,891,700 2,363,300 2,475,900 3,163,100 % 2 % 10,681,800 12,847,700 %
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Kumba sales (34) (29) (9)
volumes(2) 7,053,900 9,982,000 10,302,700 9,332,000 10,690,300 % % 36,670,600 40,292,200 %
Export iron (34) (29) (9)
ore(2) 7,053,900 9,982,000 10,302,700 9,332,000 10,690,300 % % 36,670,600 40,185,100 %
Domestic iron - - - - - n/a n/a - 107,100 n/a
ore
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Minas-Rio
production
(6) (6)
Pellet feed 5,721,000 6,082,700 4,905,100 4,872,900 5,349,500 7 % % 21,581,700 22,945,400 %
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
Minas-Rio
sales
volumes
Export -
pellet (7)
feed 6,832,800 5,817,200 4,168,100 4,496,700 6,085,400 12 % 17 % 21,314,800 22,992,300 %
============== ========== ========== ========== ========== ========== ======= ======= ========== ========== =======
(1) Total iron ore is the sum of Kumba and Minas-Rio and
reported in wet metric tonnes. Kumba product is shipped with 1.6%
moisture and Minas-Rio product is shipped with 9% moisture.
(2) Sales volumes differ to Kumba's standalone results due to
sales to other Group companies.
Steelmaking Coal
Steelmaking Coal(1) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
(000 t) vs. Q4 vs. Q3 vs. 2021
2021 2022
==================== ======= ======= =========
2022 2021 2022 2022 2021
==================== ===== ===== ======= ===== ======= ====== ====== =========
(16)
Steelmaking Coal 4,650 4,372 6 % 5,510 % 15,007 14,908 1 %
==================== ===== ===== ======= ===== ======= ====== ====== =========
(1) Anglo American's attributable share of production. Includes
production relating to processing of third party product.
Steelmaking coal production increased by 6% to 4.6 million
tonnes, primarily due to the ramp-up of the Grosvenor longwall
operation following its restart in February 2022. Production from
the new Aquila longwall operation, which began operations in
February 2022, was offset by the planned end of production at the
Grasstree operation in January 2022. Tight labour markets, as well
as unseasonal wet weather at the open pits, continued to impact
production through the fourth quarter and into early 2023.
The focus at the underground longwall operations (Moranbah,
Grosvenor and Aquila) remains on safety and increasing longwall
performance through stability.
The ratio of hard coking coal production to PCI/semi-soft coking
coal was 78:22, higher than Q4 2021 (67:33), reflecting the higher
contribution of premium hard coking coal from the Grosvenor and
Moranbah longwall operations.
The full year average realised price for hard coking coal was
$310/tonne, which was lower than the benchmark price of $364/tonne.
The price realisation was lower at 85% (2021: 93%) driven by a
higher volume of premium hard coking coal being produced and sold
in the second half of 2022 when the benchmark price was lower.
2023 Guidance
Production guidance for 2023 is 16-19 million tonnes.
Unit cost guidance for 2023 is c.$105/tonne.
Coal, by product Q4 Q4 2022
(tonnes)(1) 2022 2022 vs.
vs. vs. Q3 2021
Q4 2022
Q4 Q3 Q2 Q1 Q4 2021
================= ===== ====== =====
2022 2022 2022 2022 2021 2022 2021
================= ========= ========= ========= ========= ========= ===== ====== ========== ========== =====
Production
volumes
Steelmaking (16)
Coal(2) 4,649,800 5,510,200 2,620,600 2,226,400 4,372,100 6 % % 15,007,000 14,907,700 1 %
Hard coking (20)
coal(2) 3,647,300 4,562,200 2,125,600 1,753,000 2,922,400 25 % % 12,088,100 11,320,500 7 %
(31) (19)
PCI / SSCC 1,002,500 948,000 495,000 473,400 1,449,700 % 6 % 2,918,900 3,587,200 %
Export thermal (2)
coal 427,500 424,000 365,900 427,400 341,800 25 % 1 % 1,644,800 1,677,000 %
================= ========= ========= ========= ========= ========= ===== ====== ========== ========== =====
Sales volumes
Steelmaking (19)
Coal(2) 4,232,500 5,245,100 2,776,100 2,429,700 4,182,400 1 % % 14,683,400 14,136,800 4 %
Hard coking (27)
coal(2) 3,113,800 4,289,200 2,096,600 1,812,000 2,793,500 11 % % 11,311,600 10,795,400 5 %
(19)
PCI / SSCC 1,118,700 955,900 679,500 617,700 1,388,900 % 17 % 3,371,800 3,341,400 1 %
Export thermal (2) (1) (20)
coal 473,100 479,900 390,000 337,900 483,800 % % 1,680,900 2,108,200 %
================= ========= ========= ========= ========= ========= ===== ====== ========== ========== =====
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
Steelmaking coal, Q4 Q4 2022
by operation 2022 2022 vs.
(tonnes)(1) vs. vs. Q3 2021
Q4 2022
Q4 Q3 Q2 Q1 Q4 2021
================= ===== ====== =====
2022 2022 2022 2022 2021 2022 2021
================= ========= ========= ========= ========= ========= ===== ====== ========== ========== =====
Steelmaking (16)
Coal(2) 4,649,800 5,510,200 2,620,600 2,226,400 4,372,100 6 % % 15,007,000 14,907,700 1 %
(2)
Moranbah(2) 1,489,800 1,522,900 209,700 172,800 1,084,300 37 % % 3,395,200 3,050,700 11 %
(39)
Grosvenor 777,600 1,277,400 856,300 125,200 52,100 n/a % 3,036,500 71,600 n/a
Aquila (incl. (36) (11) (43)
Capcoal)(2)(3) 1,023,000 1,149,400 527,100 746,400 1,588,700 % % 3,445,900 5,992,900 %
(11) (21) (16)
Dawson 583,700 741,300 317,400 444,900 654,100 % % 2,087,300 2,483,700 %
(3) (5) (2)
Jellinbah 775,700 819,200 710,100 737,100 802,200 % % 3,042,100 3,118,100 %
Other - - - - 190,700 n/a n/a - 190,700 n/a
================= ========= ========= ========= ========= ========= ===== ====== ========== ========== =====
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
(3) Includes production from the Aquila longwall operation from February
2022. Prior to then, includes production from the Grasstree longwall operation.
Manganese
Manganese (000 t) Q4 Q4 Q4 2022 Q3 Q4 2022 2022
vs. Q4 vs. Q3 vs. 2021
2021 2022
================== ======= ======= =========
2022 2021 2022 2022 2021
================== ==== ==== ======= ==== ======= ===== ===== =========
Manganese ore(1) 984 835 18 % 973 1 % 3,741 3,683 2 %
================== ==== ==== ======= ==== ======= ===== ===== =========
(1) Saleable production.
Manganese ore production increased by 18% to 984,300 tonnes,
driven by improved yield and plant reliability at the Australia
operations and improved mining performance and equipment
reliability at the South Africa operations.
Manganese (tonnes) Q4 Q3 Q2 Q1 Q4
==================== ======= ======= =========
Q4 2022 Q4 2022
vs. Q4 vs. Q3 2022
2022 2022 2022 2022 2021 2021 2022 2022 2021 vs. 2021
==================== ======= ======= ======= ======= ======= ======= ======= ========= ========= =========
Samancor production
Manganese ore(1) 984,300 973,300 979,600 803,500 834,600 18 % 1 % 3,740,700 3,683,200 2 %
Samancor sales
volumes
(4)
Manganese ore 954,700 834,400 960,200 846,900 940,200 2 % 14 % 3,596,200 3,745,800 %
==================== ======= ======= ======= ======= ======= ======= ======= ========= ========= =========
(1) Saleable production.
Exploration and evaluation
Exploration and evaluation expenditure increased by 10% to $112
million. Exploration expenditure increased by 4% to $49 million,
principally in copper. Evaluation expenditure increased by 15% to
$63 million, driven by higher spend in iron ore and platinum group
metals.
Corporate and other activities
During the quarter, the Group finalised the insurance claim for
the overpressure event at Moranbah, resulting in a one-off expense
of $0.1 billion within the Corporate and other segment, with an
offsetting one-off benefit in the Steelmaking Coal segment. This is
in addition to amounts settled in the first half of 2022.
Furthermore, charges recognised within EBITDA relating to
rehabilitation provisions are currently estimated to be $0.2
billion at Copper and $0.1 billion at De Beers.
For more information on Anglo American's announcements since our
previous production report, please find links to our Press Releases
below:
-- 1 February 2023 | Anglo American rough diamond sales value
for De Beers' first sales cycle of 2023
-- 26 January 2023 | Anglo American loads first LNG dual-fuelled
vessel in chartered fleet, cutting emissions by up to 35%
-- 17 January 2023 | Anglo American appoints Alison Atkinson as
Group Director - Projects & Development
-- 21 December 2022 | Anglo American rough diamond sales value
for De Beers' tenth sales cycle of 2022
-- 9 December 2022 | Anglo American builds operational momentum
for next phase of value-driven growth
-- 7 December 2022 | Anglo American combines nuGen(TM) with
First Mode and invests $200m to accelerate Zero Emissions Haulage
Solution
-- 30 November 2022 | Anglo American senior leadership changes
following Tony O'Neill's decision to retire
-- 24 November 2022 | Anglo American collaborates with Aurubis
on sustainable copper value chain
-- 23 November 2022 | Anglo American secures desalinated water
supply for Los Bronces copper mine in Chile
-- 16 November 2022 | Anglo American rough diamond sales value
for De Beers' ninth sales cycle of 2022
-- 16 November 2022 | Anglo American sources 100% renewable
electricity supply for Australia operations
-- 31 October 2022 | Anglo American updates on carbon
neutrality, biodiversity and responsible mining assurance
Notes
-- This Production Report for the quarter ended 31 December 2022
is unaudited.
-- Production figures are sometimes more precise than the
rounded numbers shown in this Production Report.
-- Copper equivalent production shows changes in underlying
production volume. It is calculated by expressing each product's
volume as revenue, subsequently converting the revenue into copper
equivalent units by dividing by the copper price (per tonne).
Long-term forecast prices are used, in order that period-on-period
comparisons exclude any impact for movements in price.
-- Please refer to page 16 for information on forward-looking
statements.
In this document, references to "Anglo American", the "Anglo
American Group", the "Group", "we", "us", and "our" are to refer to
either Anglo American plc and its subsidiaries and/or those who
work for them generally, or where it is not necessary to refer to a
particular entity, entities or persons. The use of those generic
terms herein is for convenience only, and is in no way indicative
of how the Anglo American Group or any entity within it is
structured, managed or controlled. Anglo American subsidiaries, and
their management, are responsible for their own day-to-day
operations, including but not limited to securing and maintaining
all relevant licences and permits, operational adaptation and
implementation of Group policies, management, training and any
applicable local grievance mechanisms. Anglo American produces
group-wide policies and procedures to ensure best uniform practices
and standardisation across the Anglo American Group but is not
responsible for the day to day implementation of such policies.
Such policies and procedures constitute prescribed minimum
standards only. Group operating subsidiaries are responsible for
adapting those policies and procedures to reflect local conditions
where appropriate, and for implementation, oversight and monitoring
within their specific businesses.
For further information, please contact:
Media Investors
UK UK
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Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 8574
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Notes to editors:
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
steelmaking coal, 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
Forward-looking statements and third-party information:
This announcement includes forward-looking statements. All
statements other than statements of historical facts included in
this announcement, 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, prospects and projects (including
development plans and objectives relating to Anglo American's
products, production forecasts and Ore Reserve and Mineral Resource
positions) and sustainability performance related (including
environmental, social and governance) goals, ambitions, targets,
visions, milestones 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, unanticipated downturns in
business relationships with customers or their purchase from Anglo
American, mineral resource exploration and project development
capabilities and delivery, recovery rates and other operational
capabilities, safety, health or environmental incidents, the
effects of global pandemics and outbreaks of infectious diseases,
the impact of attacks from third parties on our information
systems, natural catastrophes or adverse geological conditions,
climate change and extreme weather events, the outcome of
litigation or regulatory proceedings, the availability of mining
and processing equipment, the ability to obtain key inputs in a
timely manner, the ability to produce and transport products
profitably, the availability of necessary infrastructure (including
transportation) services, the development, efficacy and adoption of
new technology or competing, challenges in realising resource
estimates or discovering new economic mineralisation, the impact of
foreign currency exchange rates on market prices and operating
costs, the availability of sufficient credit, liquidity and
counterparty risks, the effects of inflation, terrorism, war,
conflict, political or civil unrest, uncertainty, tensions and
disputes and economic and financial conditions around the world,
evolving societal and stakeholder requirements and expectations,
shortages of skilled employees, unexpected difficulties relating to
acquisitions or divestitures, competitive pressures and 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 announcement. 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 announcement 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 announcement 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.
(c)Anglo American Services (UK) Ltd 2022. (TM) and (TM) are
trade marks of Anglo American Services (UK) Ltd. nuGen(TM) is a
trade mark of Anglo American Technical & Sustainability
Services Ltd.
Legal Entity Identifier: 549300S9XF92D1X8ME43
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END
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