Anglo American plc Production Report for the fourth quarter ended 31 December 2014
28 January, 2015
Anglo American plc Production Report for the fourth quarter ended 31 December 2014
Overview
| Q4 2014 | Q4 2013 | % vs. Q4 2013 | |
|---|---|---|---|
| Iron ore – Kumba (Mt) | 12.4 | 11.3 | 10% |
| Iron ore – Minas-Rio (wmt)(1) | 0.7 | - | nm(2) |
| Export metallurgical coal (Mt) | 4.9 | 4.7 | 4% |
| Export thermal coal (Mt) | 9.7 | 9.5 | 2% |
| Copper (t)(3) (4) | 174,800 | 214,300 | (18)% |
| Nickel (t)(5) | 6,700 | 10,200 | (34)% |
| Platinum (equivalent refined) (koz)(6) | 594 | 520 | 14% |
| Diamonds (Mct)(7) | 8.4 | 9.1 | (8)% |
- Kumba Iron Ore production increased by 10% to 12.4 million tonnes following implementation of the production recovery plan and Anglo American Operating Model at Sishen. Waste removal at Sishen continues to be the operational focus.
- Minas-Rio achieved first ore on ship on 25 October 2014; production started in the quarter.
- Export metallurgical coal production increased by 4% to 4.9 million tonnes due to a step change in performance at Grasstree and Q4 2013 longwall moves.
- Export thermal coal production increased by 2% to 9.7 million tonnes mainly due to increases across Australian and South African operations.
- Copper production decreased by 18% to 174,800 tonnes, primarily as a result of the expected grade declines at Los Bronces and Collahuasi.
- As expected, nickel production decreased by 34% to 6,700 tonnes due to the Barro Alto Line 2 furnace rebuild, which commenced in October.
- Equivalent refined platinum production increased by 14% to 593,900 ounces mainly due to higher production at Amandelbult, Rustenburg and Union mines as Q4 2013 was impacted by industrial action. Mogalakwena also increased production in Q4 2014 due to increased throughput at the concentrator and mining productivity improvements.
- Diamond production decreased by 8% to 8.4 million carats compared with Q4 2013 due to lower grades at Orapa and Venetia, combined with lower production at Snap Lake as a result of a mandatory safety stoppage.
- Given the sharply lower commodity price environment, particularly for the bulk commodities, Anglo American expects to record certain non-cash impairment charges as special items for the 2014 financial year. Full details will be provided when Anglo American publishes its preliminary results for 2014 on 13 February 2015.
This Production Report for the fourth quarter ended 31 December 2014 is unaudited. Financial Results for the year to 31 December 2014 will be announced on 13 February 2015.
(1) Wet metric tonnes (wmt)
(2) Not meaningful (nm)
(3) Copper production from the Copper business unit
(4) Copper production shown on a contained metal basis
(5) Nickel production from the Nickel business unit
(6) Equivalent refined is the mines’ production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum’s standard smelting and refining recoveries
(7) De Beers production on 100% basis
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