Q2 2018 Production Report
19 July, 2018
Anglo American reports a 6% increase in total production on a copper equivalent basis in the second quarter of 2018, compared to the same period of 2017, excluding the Minas-Rio stoppage(1).
Mark Cutifani, Chief Executive of Anglo American, said: “We have delivered another strong performance, with Copper and Metallurgical Coal in particular driving a 6% increase in production. This reflects our consistent and relentless focus on driving efficiency and productivity from our existing world class asset base.”
Highlights
- De Beers production increased by 3% to 9.0 million carats reflecting sustained healthy trading conditions.
- Copper production increased by 12% to 158,000 tonnes despite major planned maintenance at Collahuasi, with strong operational performance as well as higher grades.
- Platinum and palladium production was broadly unchanged despite Bokoni having been placed on care and maintenance in Q3 2017. Platinum guidance increased to 2.4-2.45 million ounces following strong operational performance.
- Kumba iron ore production increased by 2% to 11.6 million tonnes, driven by good performance at Kolomela. Guidance marginally decreased to 43-44 million tonnes to align production to rail availability.
- Metallurgical coal production increased by 33% to 5.3 million tonnes driven by strong performance at Moranbah and Grosvenor.
- Thermal coal export production decreased by 1% to 7.2 million tonnes due to challenging geology. Guidance revised to 28-30 million tonnes.
- Minas-Rio iron ore production in the quarter was immaterial as operations remain suspended.
Production Summary
| Q2 2018 | Q2 2017 | % vs. Q2 2017 | H1 2018 | H1 2017 | % vs. H1 2017 | |
|---|---|---|---|---|---|---|
| Diamonds (Mct)(2) | 9.0 | 8.7 | 3% | 17.5 | 16.1 | 8% |
| Copper (kt)(3) | 158 | 141 | 12% | 313 | 283 | 10% |
| Platinum (koz)(4) | 620 | 617 | - | 1,233 | 1,189 | 4% |
| Palladium (koz)(4) | 406 | 402 | 1% | 813 | 775 | 5% |
| Iron ore – Kumba (Mt) | 11.6 | 11.4 | 2% | 22.4 | 21.9 | 3% |
| Iron ore – Minas-Rio (Mt)(5) | 0.1 | 4.3 | nm | 3.2 | 8.7 | (64)% |
| Metallurgical coal (Mt) | 5.3 | 4.0 | 33% | 10.8 | 9.2 | 17% |
| Thermal coal (Mt)(6) | 7.2 | 7.3 | (1)% | 14.0 | 14.8 | (6)% |
| Nickel (kt)(7) | 10.8 | 11.3 | (4)% | 19.4 | 21.2 | (8)% |
| Manganese ore (kt) | 866 | 843 | 3% | 1,747 | 1,666 | 5% |
This Production Report for the second quarter ended 30 June 2018 is unaudited.
(1) Copper equivalent production is normalised for Bokoni being placed on care and maintenance in Q3 2017 and the Minas-Rio production stoppage in 2018. Including the Minas-Rio stoppage, production is up 1% compared to Q2 2017.
(2) De Beers 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 business unit only (excludes copper production from the Platinum business unit).
(4) Produced ounces. Reflects own mine production and purchases of metal in concentrate.
(5) Wet basis.
(6) Reflects export production from South Africa and Colombia.
(7) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum business unit).
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