PRESS RELEASE

Anglo American: Production Report for the third quarter ended 30 September 2018

By
Tuesday, October 23, 2018

Press Release by Anglo American

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

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Mark Cutifani, Chief Executive of Anglo American, said: "Our focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes 1% higher than the solid operational performance seen in Q3 2017. Production per employee has increased by 5% in 2018, compared to 2017, as we maintain relentless discipline on controllable costs. Strong operational performance at our Copper assets delivered a 17% increase in production, more than offsetting planned lower volumes at De Beers and the impact of rail infrastructure constraints at Kumba in the first half of the year."

Highlights

 De Beers production decreased by 5% to 8.7 million carats due to expected lower grades at Jwaneng and lower volumes at Venetia, due to a shutdown to upgrade its processing plant ahead of its transition from open cut to underground operations.

 Copper production increased by 17% to 171,800 tonnes reflecting continued strong operational performance across all operations and planned higher grades.

 Platinum and palladium production increased by 4% to 649,000 ounces and 1% to 411,000 ounces respectively driven by an improved performance at Amandelbult and the joint venture operations.

 Kumba's iron ore production decreased by 9% to 10.5 million tonnes as planned, to offset elevated stock levels arising from Transnet rail constraints in H1 2018.

 Metallurgical coal production decreased by 3% to 5.4 million tonnes with the timing of longwall moves.

 Thermal coal export production increased by 13% to 7.7 million tonnes reflecting solid operational improvements at our coal assets.

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