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Q2 2019 Production Report

18 July, 2019

Mark Cutifani, Chief Executive of Anglo American, said: “Production is up 2%(1) for the quarter, due to the successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal following the longwall moves and plant upgrade work in Q1. Kumba Iron Ore continues to improve following Q1 production challenges. De Beers, in view of prevailing market conditions, will continue to produce to demand for the year. We remain broadly on track overall to deliver this full year’s production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore.”

Highlights

  • De Beers’ diamond production decreased by 14% to 7.7 million carats in the quarter, as we continue to produce to market demand and as Venetia transitions from open pit to underground.
  • Copper production increased by 1% to 159,100 tonnes due to strong performance at Los Bronces and Collahuasi.
  • Platinum production increased by 3%(2) to 520,300 ounces and palladium decreased by 1%(2) to 347,200 ounces, due to a change in mix of production from each operation.
  • Kumba’s iron ore production decreased by 9% to 10.5 million tonnes due to plant maintenance.
  • Minas-Rio’s iron ore production was 5.9 million tonnes as its strong ramp-up continues ahead of schedule.
  • Metallurgical coal production increased by 11% to 5.8 million tonnes due to generally stronger performance and the completion of Q1 longwall moves.
  • Thermal coal production decreased by 8% to 6.6 million tonnes primarily due to local drought conditions at Cerrejón.

Production Summary

  Q2 2019 Q2 2018 % vs. Q2 2018 H1 2019 H1 2018 % vs. H1 2018
Diamonds (Mct)(3) 7.7 9.0 (14)% 15.6 17.5 (11)%
Copper (kt)(4) 159 158 1% 320 313 2%
Platinum (koz)(5) 520 508(2) 3% 992 1,006(2) (1)%
Palladium (koz)(5) 347 350(2) (1)% 674 699(2) (4)%
Iron ore – Kumba (Mt) 10.5 11.6 (9)% 20.1 22.4 (11)%
Iron ore – Minas-Rio (Mt)(6) 5.9 0.1 n/a 10.8 3.2 n/a
Metallurgical coal (Mt) 5.8 5.3 11% 10.0 10.8 (7)%
Thermal coal (Mt)(7) 6.6 7.2 (8)% 13.2 14.0 (5)%
Nickel (kt)(8) 9.8 10.8 (9)% 19.6 19.4 1%
Manganese ore (kt) 826 866 (5)% 1,700 1,747 (3)%

This Production Report for the second quarter ended 30 June 2019 is unaudited.

(1) Copper equivalent production is normalised to reflect closure of Voorspoed (De Beers) and Sibanye-Stillwater Rustenburg material that has transitioned to a tolling arrangement (Platinum Group Metals). Excluding the impact of Minas-Rio, Group copper equivalent production is down 4% in the quarter.
(2) Normalised for the transition of Sibanye-Stillwater Rustenburg material from purchased concentrate to a tolling arrangement.
(3) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
(4) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).
(5) Produced ounces of metal in concentrate. Reflects own mine production and purchases.
(6) Wet basis.
(7) Reflects export production from South Africa and attributable export production from Colombia.
(8) 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  
Sibusiso Tshabalala  
Email: [email protected]  
Tel: +27 (0)11 638 2175  

Notes to editors:

Anglo American is a leading global mining company 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 that enable a cleaner, more electrified world and that meet the fast 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 – safely, responsibly and sustainably.

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

www.angloamerican.com