Anglo American plc Production Report for the third quarter ended 30 September 2019.
Mark Cutifani, Chief Executive of Anglo American, said: “Production is up 4%(1) for the quarter, driven by the continued successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal. De Beers production is lower, as expected, with Victor mine now at the end of its life and the transition of Venetia to underground. We remain broadly on track to deliver within our full year production targets, with an increase in production guidance at Minas-Rio. We expect to deliver to our production guidance for Copper and Thermal Coal, albeit at the lower end of their ranges; with Copper working to mitigate the effect of drought conditions in central Chile.”
Production summary
- De Beers’ diamond production decreased by 14% to 7.4 million carats due to planned mine closures and the underground transition at Venetia, and as we continue to produce to weaker market demand due to macro-economic uncertainty as well as continued midstream weakness.
- Copper production decreased by 8% to 158,900 tonnes due to unprecedented drought conditions impacting Los Bronces in Chile.
- Platinum and palladium production were broadly unchanged at 526,800 ounces and 351,800 ounces respectively.
- Kumba’s iron ore production was unchanged at 10.5 million tonnes as increased production at Sishen was offset by lower production at Kolomela due to a plant upgrade.
- Minas-Rio’s strong operational performance continued as iron ore production reached 6.1 million tonnes.
- Metallurgical coal production increased by 22% to 6.6 million tonnes due to improved wash plant throughput and equipment efficiency, as well as timing of longwall moves.
| |
Q3 2019 |
Q3 2018 |
% vs. Q3 2018 |
YTD 2019 |
YTD 2018 |
% vs. YTD 2018 |
| Diamonds (Mct)(3) |
7.4 |
8.7 |
(14)% |
23.0 |
26.2 |
(12)% |
| Copper (kt)(4) |
159 |
172 |
(8)% |
479 |
485 |
(1)% |
| Platinum (koz)(5) |
527 |
530(2) |
(1)% |
1,519 |
1,535(2) |
(1)% |
| Palladium (koz)(5) |
352 |
351(2) |
0% |
1,026 |
1,051(2) |
(2)% |
| Iron ore – Kumba (Mt) |
10.5 |
10.5 |
0% |
30.6 |
32.9 |
(7)% |
| Iron ore – Minas-Rio (Mt)(6) |
6.1 |
- |
n/a |
17.0 |
3.2 |
n/a |
| Metallurgical coal (Mt) |
6.6 |
5.4 |
22% |
16.6 |
16.2 |
2% |
| Thermal coal (Mt)(7) |
6.3 |
7.7 |
(18)% |
19.6 |
21.7 |
(10)% |
| Nickel (kt)(8) |
11.3 |
11.5 |
(2)% |
30.9 |
30.9 |
0% |
| Manganese ore (kt) |
910 |
888 |
3% |
2,611 |
2,635 |
(1)% |
(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 2% 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 (33.3%) 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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