ANGLO AMERICAN PLC 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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Anglo American plc published this content on 24 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 January 2019 09:18:05 UTC
