Anglo American plc Review and Production Report
29 April, 2008
Interim Management Statement for the quarter ended 31 March 2008
First quarter overview
- Production increases in copper, zinc, iron ore, manganese ore, and metallurgical coal versus prior year.
- Platinum remains on target for full year refined production of 2.4 million ounces.
- Rhodium sales contracts renegotiated with improved pricing.
- Production in the first quarter, particularly of PGMs and coal, was adversely affected by power supply constraints in South Africa and adverse weather conditions in Australia and South Africa.
- Acquisition of 70% interest in Foxleigh mine completed in February 2008. Integration underway and first month production contribution of 78,000 tonnes of metallurgical coal.
- Anglo American to acquire control of the Minas-Rio and Amapá iron ore projects in Brazil.
- On 20 February, the South African Department of Minerals and Energy and Anglo American confirmed agreement on all remaining matters regarding mining rights conversions, subject to completion of outstanding documentation.
- Anglo American's energy task team continues to address critical issues in relation to power supply constraints in South Africa, focusing on short term supply constraints, enhanced emergency power provisions and supplementary power generation for the short, medium and longer term requirements of mining operations.
There has been no material change to the financial position of the Group since 31 December 2007.
Interim results for the half year to 30 June will be announced on 31 July 2008.
This report forms Anglo American plc's Interim Management Statement for the purpose of the UK Listing Authority's Disclosure and Transparency Rules.