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Q4 2018 Production Report

24 January, 2019

Anglo American reports a 7% increase in total production on a copper equivalent basis for the fourth quarter of 2018, compared to the same period in 2017, excluding the effect of the stoppage at Minas-Rio(1).

Mark Cutifani, Chief Executive of Anglo American, said: “Our continuing focus on efficiency and productivity improvements across the business resulted in another strong quarter, adding to our consistent track record of delivery. Solid operational performance resulted in a 23% increase in production from our Copper business, more than offsetting the impact of infrastructure constraints at Kumba. We ended this successful quarter with the restart of operations at Minas-Rio and receipt of a key approval relating to the important Step 3 licence area that supports its increase in production towards design capacity.”

Highlights

  • De Beers production increased by 12% to 9.1 million carats due to production increases at Orapa.
  • Copper production increased by 23% to 183,500 tonnes, with increases at all operations, reflecting continued strong operational performance and planned higher grades.
  • Platinum and palladium production both increased by 3% to 602,300 ounces and 386,600 ounces respectively, driven by an improved operational performance across the majority of the portfolio.
  • Kumba’s iron ore production decreased by 13% to 10.2 million tonnes due to infrastructure constraints.
  • Metallurgical coal production increased by 15% to 5.6 million tonnes driven by productivity improvements at Moranbah and the continued Grosvenor ramp up.
  • Thermal coal export production decreased by 9% to 6.9 million tonnes due to the impact of rain at Cerrejón.
  • Minas-Rio restarted operations at the end of the quarter and also received a key approval relating to the important Step 3 licence area.

Production Summary

  Q4 2018 Q4 2017 % vs. Q4 2017 2018 2017 % vs. 2017
Diamonds (Mct)(2) 9.1 8.1 12% 35.3 33.5 6%
Copper (kt)(3) 184 149 23% 668 579 15%
Platinum (koz)(4) 602 587 3% 2,485 2,397 4%
Palladium (koz)(4) 387 375 3% 1,611 1,557 3%
Iron ore – Kumba (Mt) 10.2 11.6 (13)% 43.1 45.0 (4)%
Iron ore – Minas-Rio (Mt)(5) 0.2 4.0 (94)% 3.4 16.8 (80)%
Metallurgical coal (Mt) 5.6 4.9 15% 21.8 19.7 11%
Thermal coal (Mt)(6) 6.9 7.6 (9)% 28.6 29.2 (2)%
Nickel (kt)(7) 11.4 11.4 0% 42.3 43.8 (3)%
Manganese ore (kt) 972 980 (1)% 3,607 3,486 3%

This Production Report for the fourth quarter ended 31 December 2018 is unaudited.

(1) Copper equivalent production is normalised for the Minas-Rio production stoppage in 2018. Including the Minas-Rio stoppage, production increased by 3% compared to Q4 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 Group Metals business unit).
(4) Produced ounces of metal in concentrate. Reflects own mine production and purchases.
(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 Group Metals business unit).

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For further information, please contact:

Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Email: [email protected] Email: [email protected]
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
Email: [email protected] Email: [email protected]
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
South Africa Emma Waterworth
Pranill Ramchander Email: [email protected]
Email: [email protected] Tel: +44 (0)20 7968 8574
Tel: +27 (0)11 638 2592
Ann Farndell
Email: [email protected]
Tel: +27 (0)11 638 2786

Notes to editors:

Anglo American is a global diversified mining business and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals to meet the growing consumer-driven demands of the world’s developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world.

As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate and for society at large. Anglo American is re-imagining mining to improve people’s lives.

www.angloamerican.com

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