Anglo American plc Interim Management Statement Production Report for the third quarter ended 30 September 2009
22 October, 2009
Anglo American plc Interim Management Statement Production Report for the third quarter ended 30 September 2009
Overview
- Copper production increased 13.4% to 168,500 tonnes, compared to the third quarter of 2008, due to higher throughput and recoveries at Los Bronces and improved grades, recoveries and performance at Collahuasi
- Iron ore production increased 15.7% to 11.9 million tonnes as the Sishen jig plant continued to ramp up to full production. The jig plant achieved production of 996kt in September, equating to annualised production of 12Mtpa, on track to achieve its planned annualised rate of 13Mtpa during the fourth quarter
- Platinum refined production increased 15.8% to 629koz, on track to meet full year target of 2.4 million ounces.
- Two additional high cost shafts placed on care and maintenance
- Labour reduction of 11,715, exceeding full year plan
- Further 4% productivity improvement achieved since June 2009
- Thermal coal production declined by 1.0% and metallurgical coal production declined by 2.6%, as production was matched to demand in export markets. Coal production at Eskom mines improved, with demand increasing by 7.3%
- Continued improvement in the demand for rough diamonds. Third quarter production 43% higher than second quarter and on track for full year production at 50% of 2008 levels
- Further strategic progress to focus on core mining portfolio:
- $671 million raised in the third quarter:
- Tongaat Hulett stake sold for total consideration of $523 million
- Hulamin stake sold for total consideration of $148 million
- $671 million raised in the third quarter:
- Undrawn committed bank facilities and cash increased to over $10 billion
Results for the full year to 31 December 2009 will be announced on 19 February 2010.
This report forms Anglo American plc’s Interim Management Statement for the purpose of the UK Listing Authority’s Disclosure and Transparency Rules.
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Forward looking statements:
This Interim Management Statement 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.