Q4 2019 Production Report
23 January, 2020
Anglo American plc Production Report for the fourth quarter ended 31 December 2019
Mark Cutifani, Chief Executive of Anglo American, said: “We have delivered our full year production targets across the business. Production is up 4%(1) for the quarter led by the continued successful ramp-up at Minas-Rio in Brazil. Increased production at Metallurgical Coal in Australia was offset by the drought in Chile impacting water availability at Los Bronces, as well as the anticipated lower production from De Beers as Venetia transitions to underground in South Africa and Victor reached the end of its mine life in Canada. As planned, we received the operating licence for the tailings dam raise at Minas-Rio before the end of 2019.”
Key highlights
- A 10%(2) increase in platinum and palladium volumes due to higher grades and throughput.
- Strong performance from Collahuasi as well as productivity improvements at Los Bronces have partially mitigated the impact of production losses at Los Bronces due to the continued drought.
- Continued strong performance from our Bulks business, reflecting the stability of operations under the Operating Model and progress in driving P101 levels of equipment performance to industry best practice and beyond.
- Minas-Rio continued its strong operational performance, with 6.2 million tonnes of high grade iron ore production in Q4. The tailings dam raise operating licence was received in December 2019.
- Kumba iron ore production of 11.8 million tonnes reflected improved run-rates following maintenance earlier in the year.
- Metallurgical coal production increased by 11% to 6.3 million tonnes due to the timing of longwall moves, as well as improved wash plant throughput and equipment efficiency.
| Q4 2019 | Q4 2018 | % vs. Q4 2018 | 2019 | 2018 | % vs. 2018 | |
|---|---|---|---|---|---|---|
| Diamonds (Mct)(3) | 7.8 | 9.1 | (15)% | 30.8 | 35.3 | (13)% |
| Copper (kt)(4) | 159 | 184 | (13)% | 638 | 668 | (5)% |
| Platinum (koz)(2)(5) | 532 | 485 | 10% | 2,051 | 2,021 | 1% |
| Palladium (koz)(2)(5) | 360 | 329 | 10% | 1,386 | 1,379 | 1% |
| Iron ore – Kumba (Mt) | 11.8 | 10.2 | 16% | 42.4 | 43.1 | (2)% |
| Iron ore – Minas-Rio (Mt)(6) | 6.2 | 0.2 | n/a | 23.1 | 3.4 | n/a |
| Metallurgical coal (Mt) | 6.3 | 5.6 | 11% | 22.9 | 21.8 | 5% |
| Thermal coal (Mt)(7) | 6.8 | 6.9 | (1)% | 26.4 | 28.6 | (8)% |
| Nickel (kt)(8) | 11.7 | 11.4 | 3% | 42.6 | 42.3 | 1% |
| Manganese ore (kt) | 903 | 972 | (7)% | 3,513 | 3,607 | (3)% |
(1) Copper equivalent production is normalised to reflect closure of Voorspoed and Victor (De Beers) and Sibanye-Stillwater Rustenburg material that has transitioned to a tolling arrangement (Platinum Group Metals). Excluding the impact of Minas-Rio, Group copper equivalent production is down 1% in the quarter.
(2) Normalised for the transition of Sibanye-Stillwater Rustenburg material from purchased concentrate to a tolling arrangement.
(3) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
(4) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).
(5) Produced ounces of metal in concentrate. Reflects own mine production and purchases.
(6) Wet basis.
(7) Reflects export production from South Africa and attributable export production (33.3%) from Colombia.
(8) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).
NOTES
- This Production Report for the quarter ended 31 December 2019 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.
View full PDF of this press release (704 KB, opens in a new window)