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Anglo American plc (the "Company")
Registered office: 17 Charterhouse Street London EC1N 6RA United Kingdom
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
2 February 2023
Production Report for the fourth quarter ended 31 December 2022
Duncan Wanblad, Chief Executive of Anglo American, said: "Our production increased by 10%(1) in the fourth quarter
compared to the same period in 2021, driven by the ongoing ramp-up at Quellaveco which produced more than 80,000
tonnes of copper. Our Steelmaking Coal operations also contributed by having all three of the longwall operations
running, while we saw higher rough diamond production from De Beers and improved operational performance at
Minas-Rio and Kumba, our iron ore businesses. Our strong quarterly improvement was tempered by weaker performance
at our PGMs operations.
"In 2023, our unwavering focus remains on ensuring a safe and stable platform for strengthened and repeatable
operational performance, while progressing towards our sustainability ambitions and advancing our organic growth
options. The completion of the transaction in January to combine First Mode and nuGenTM - our zero emissions haulage
system - is designed to accelerate the development and commercialisation of this innovative decarbonisation
technology as we work towards carbon neutral operations by 2040."
Q4 2022 highlights
- Secured 100% renewable electricity supply for our operations in Australia from 2025, effectively removing all Scope 2
emissions from our Steelmaking Coal business.
- Completed phase one of an integrated water project for Los Bronces copper operation in Chile: secures desalinated
water for more than 45% of Los Bronces' needs from 2025, while also providing clean water for local communities.
- Copper production increased by 52%, due to the ramp-up of production from our new Quellaveco copper mine in Peru,
while production from our operations in Chile was broadly flat.
- Rough diamond production increased by 6%, reflecting strong operational performance, particularly at Jwaneng,
which was partially offset by the planned completion of the final cut at Venetia's open pit.
- Steelmaking coal production increased by 6%, primarily due to all three underground longwall operations operating in
Q4 2022, partially offset by the planned end of production at the Grasstree operation in January 2022.
- Iron ore production increased by 4%, reflecting higher plant availability at Minas-Rio, and improved operational
performance at Kumba's Sishen mine, which more than offset the constraints on Kolomela's production that resulted
from disappointing third party logistics performance.
- Metal in concentrate production from our Platinum Group Metals (PGMs) operations decreased by 10%, due to the
impact of lower grades at Mogalakwena and planned infrastructure closures at Amandelbult.
- Nickel production decreased by 4%, primarily due to planned annual maintenance.
Production Q4 2022 Q4 2021 % vs. Q4 2021 2022 2021 % vs. 2021
Diamonds (Mct)(2) 8.2 7.7 6% 34.6 32.3 7%
Copper (kt)(3) 244 161 52% 664 647 3%
Nickel (kt)(4) 10.2 10.6 (4)% 39.8 41.7 (5)%
Platinum group metals (koz)(5) 990 1,103 (10)% 4,024 4,299 (6)%
Iron ore (Mt)(6) 15.7 15.1 4% 59.3 63.8 (7)%
Steelmaking coal (Mt) 4.6 4.4 6% 15.0 14.9 1%
Manganese ore (kt) 984 835 18% 3,741 3,683 2%
(1) Copper equivalent production basis.
(2) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(3) Contained metal basis. Reflects copper production from the Copper operations in Chile and Peru only (excludes copper production from the
Platinum Group Metals business unit).
(4) Reflects nickel production from the Nickel operations in Brazil only (excludes 21.3 kt of full year 2022 nickel production from the Platinum Group Metals
business unit).
(5) Produced ounces of metal in concentrate. 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold). Reflects own mine production and purchase
of concentrate.
(6) Wet basis.
Production and unit cost guidance summary
2023 production guidance(1) 2023 unit cost guidance(1)
Diamonds(2) 30-33 Mct c.$80/ct
Copper(3) 840-930 kt c.156c/lb
Nickel(4) 38-40 kt c.515c/lb
Platinum Group Metals(5) 3.6-4.0 Moz c.$1,025/oz
Iron Ore(6) 57-61 Mt c.$39/t
Steelmaking Coal(7) 16-19 Mt c.$105/t
(1) Unit costs exclude royalties, depreciation and include direct support costs only. FX rates used for 2023 costs: ~17 ZAR:USD, ~1.5 AUD:USD, ~5.3 BRL:USD,
~900 CLP:USD, ~3.8 PEN:USD.
(2) Production on a 100% basis, except for the Gahcho Kue joint venture, which is on an attributable 51% basis, subject to trading conditions. Venetia continues
to transition to underground operations - first production is expected in 2023. Unit cost is based on De Beers' share of production.
(3) Copper business unit only. On a contained-metal basis. Total copper production is the sum of Chile and Peru: Chile: 530-580 kt and Peru: 310-350 kt. Production
in Chile is subject to water availability, and in Peru is subject to any socio-political effects. Unit cost total is a weighted average based on the mid-point
of production guidance. Chile: c.190c/lb. Peru: c.100c/lb.
(4) Nickel operations in Brazil only. The Group also produces approximately 20 kt of nickel on an annual basis as a co-product from the PGM operations.
(5) 5E + gold produced metal in concentrate ounces. Includes own mined production (~65%) and purchased concentrate volumes (~35%). The split of metals differs for
own mined and purchased concentrate, refer to FY2021 results presentation slide 38 for indicative split of own mined volumes. 2023 metal in concentrate production
is expected to be 1.6-1.8 Moz of platinum, 1.2-1.3 Moz of palladium and 0.8-0.9 Moz of other PGMs and gold. 5E + gold refined production is expected to be
3.6-4.0 Moz, subject to the impact of Eskom load-shedding. Unit cost is per own mined 5E + gold PGMs metal in concentrate ounce.
(6) Wet basis. Total iron ore is the sum of operations at Minas-Rio in Brazil and Kumba in South Africa. Kumba: 35-37 Mt and Minas-Rio: 22-24 Mt. Kumba production
is subject to the third party rail and port performance. Unit cost total is a weighted average based on the mid-point of production guidance. Kumba: c.$44/t
and Minas-Rio: c.$32/t.
(7) Production excludes thermal coal by-product from Australia. FOB unit cost comprises managed operations and excludes royalties and study costs.
Realised prices
FY 2022 vs. H2 2022 vs.
FY 2022 FY 2021 H2 2022 H1 2022 FY 2021 H1 2022
De Beers
Consolidated average realised price ($/ct)(1) 197 146 179 213 35% (16)%
Average price index(2) 142 115 145 140 23% 4%
Copper (USc/lb)(3) 385 453 369 401 (15)% (8)%
Copper Chile (USc/lb)(4) 386 453 366 401 (15)% (9)%
Copper Peru (USc/lb) 379 n/a 379 n/a n/a n/a
Nickel (US$/lb) 10.26 7.73 9.27 11.59 33% (20)%
Platinum Group Metals
Platinum (US$/oz)(5) 962 1,083 960 964 (11)% 0%
Palladium (US$/oz)(5) 2,076 2,439 2,000 2,147 (15)% (7)%
Rhodium (US$/oz)(5) 15,600 19,613 13,865 17,131 (20)% (19)%
Basket price (US$/PGM oz)(6) 2,551 2,761 2,415 2,671 (8)% (10)%
Iron Ore - FOB prices(7) 111 157 88 135 (29)% (35)%
Kumba Export (US$/wmt)(8) 113 161 87 135 (30)% (36)%
Minas-Rio (US$/wmt)(9) 108 150 89 134 (28)% (34)%
Steelmaking Coal - HCC (US$/t)(10) 310 211 263 407 47% (35)%
Steelmaking Coal - PCI (US$/t)(10) 271 138 255 322 96% (21)%
(1) Consolidated average realised price based on 100% selling value post-aggregation.
(2) Average of the De Beers price index for the Sights within the 12-month period. The De Beers price index is relative to 100 as at December 2006.
(3) Average realised total copper price is a weighted average of the Copper Chile and Copper Peru realised prices.
(4) The realised price for Copper Chile excludes third party sales volumes.
(5) The realised price excludes trading.
(6) Price for a basket of goods per PGM oz. The dollar basket price is the net sales revenue from all metals (PGMs, base metals and other metals), excluding
trading, per 5E + gold sold ounces (own mined and purchased concentrate).
(7) Average realised total iron ore price is a weighted average of the Kumba and Minas-Rio realised prices.
(8) Average realised export basket price (FOB Saldanha) (wet basis as product is shipped with ~1.6% moisture). The realised prices differ to Kumba's standalone
results due to sales to other Group companies. Average realised export basket price (FOB Saldanha) on a dry basis is $115/t (FY 2021: $164/t), higher than
the dry 62% Fe benchmark price of $102/t (FOB South Africa, adjusted for freight).
(9) Average realised export basket price (FOB Acu) (wet basis as product is shipped with ~9% moisture).
(10) Weighted average coal sales price achieved at managed operations. Australian thermal coal by-product FY 2022 was US$310/t and FY 2021 was US$120/t, a 158%
increase. H2 2022 was $329/t and H1 2022 was $280/t, a 18% increase.
De Beers
De Beers(1) (000 carats) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Botswana 5,790 5,236 11% 6,647 (13)% 24,142 22,326 8%
Namibia 590 392 51% 531 11% 2,137 1,467 46%
South Africa 948 1,292 (27)% 1,651 (43)% 5,515 5,306 4%
Canada 827 771 7% 741 12% 2,815 3,177 (11)%
Total carats recovered 8,155 7,691 6% 9,570 (15)% 34,609 32,276 7%
Rough diamond production increased by 6% to 8.2 million carats, reflecting strong operational performance across the
assets, partially offset by the planned completion of the final cut at Venetia's open pit.
In Botswana, production increased by 11% to 5.8 million carats, primarily driven by strong plant performance, particularly
at Jwaneng.
Namibia production increased by 51% to 0.6 million carats, primarily driven by the continued strong performance from
the Benguela Gem vessel and the treatment of higher grade ore at the land operations.
South Africa production decreased by 27% to 0.9 million carats, due to the planned completion of the final cut at
Venetia's open pit. The mining of the open pit was completed in December and the mine will transition to underground
operations in 2023.
Production in Canada increased by 7% to 0.8 million carats, primarily driven by the treatment of higher grade ore.
Midstream polished diamond inventories continued to build in the fourth quarter, as retailers restocked more cautiously
amidst the growing economic uncertainty. This led to downward pressure on wholesale polished prices. However,
demand for De Beers' rough diamonds remained steady, with rough diamond sales totalling 7.3 million carats (6.6 million
carats on a consolidated basis)(2) from two Sights, compared with 7.7 million carats (7.2 million carats on a consolidated
basis)(2) from three Sights in Q4 2021, and 9.1 million carats (8.5 million carats on a consolidated basis) (2) from three
Sights in Q3 2022.
The full year consolidated average realised price increased by 35% to $197/ct (2021: $146/ct), driven by a 23%
increase in the rough diamond price index, as well as selling a larger proportion of higher value rough diamonds in the first
half of the year. The increase in the rough price index reflected overall positive consumer demand for diamond jewellery
and was supported by De Beers' proposition of provenance-assured diamonds.
2023 Guidance
Production guidance(1) for 2023 is 30-33 million carats (100% basis), subject to trading conditions.
Unit cost guidance for 2023 is c.$80/ct.
(1) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(2) Consolidated sales volumes exclude De Beers Group's JV partners' 50% proportionate share of sales to entities outside De Beers Group from the Diamond
Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).
Q4 2022 Q4 2022
De Beers(1) Q4 Q3 Q2 Q1 Q4 vs. vs. 022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Carats recovered (000 carats)
100% basis (unless stated)
Jwaneng 3,126 3,567 3,120 3,632 2,679 17% (12)% 13,445 12,893 4%
Orapa(2) 2,664 3,080 2,401 2,552 2,557 4% (14)% 10,697 9,433 13%
Total Botswana 5,790 6,647 5,521 6,184 5,236 11% (13)% 24,142 22,326 8%
Debmarine Namibia 439 423 488 375 330 33% 4% 1,725 1,137 52%
Namdeb (land operations) 151 108 77 76 62 144% 40% 412 330 25%
Total Namibia 590 531 565 451 392 51% 11% 2,137 1,467 46%
Venetia 948 1,651 1,220 1,696 1,292 (27)% (43)% 5,515 5,306 4%
Total South Africa 948 1,651 1,220 1,696 1,292 (27)% (43)% 5,515 5,306 4%
Gahcho Kue (51% basis) 827 741 643 604 771 7% 12% 2,815 3,177 (11)%
Total Canada 827 741 643 604 771 7% 12% 2,815 3,177 (11)%
Total carats recovered 8,155 9,570 7,949 8,935 7,691 6% (15)% 34,609 32,276 7%
Sales volumes
Total sales volume (100%) (Mct)(3) 7.3 9.1 9.4(4) 7.9(4) 7.7 (5)% (20)% 33.7 36.3 (7)%
Consolidated sales volume (Mct)(3) 6.6 8.5 8.3(4) 7.0(4) 7.2 (8)% (22)% 30.4 33.4 (9)%
Number of Sights (sales cycles) 2 3 3(4) 2(4) 3 10 10
(1) De Beers Group production is on a 100% basis, except for the Gahcho Kue joint venture which is on an attributable 51% basis.
(2) Orapa constitutes the Orapa Regime which includes Orapa, Letlhakane and Damtshaa.
(3) Consolidated sales volumes exclude De Beers Group's JV partners' 50% proportionate share of sales to entities outside De Beers Group from the Diamond
Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).
(4) Due to the completion of Sight 3 in April 2022, the sales were recognised in Q2 2022.
Copper
Copper(1) (tonnes) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Copper 244,300 160,700 52% 146,800 66% 664,500 647,200 3%
Copper Chile 162,300 160,700 1% 126,500 28% 562,200 647,200 (13)%
Copper Peru 82,000 n/a n/a 20,300 304% 102,300 n/a n/a
(1) Copper production shown on a contained metal basis. Reflects copper production from the Copper operations in Chile and Peru only (excludes copper
production from the Platinum Group Metals business unit).
Copper production increased by 52% to 244,300 tonnes, due to the ramp-up of production from Quellaveco in Peru,
while Chile's production was broadly flat.
Chile - Copper production increased by 1% to 162,300 tonnes, primarily due to higher grade at El Soldado, partially
offset by planned lower grades at Collahuasi.
Production from Los Bronces was broadly flat at 84,300 tonnes. Copper grade, recovery and plant stability improved in
Q4 vs. Q3, however, the impact from ore hardness remains an ongoing challenge.
At Collahuasi, attributable production decreased by 5% to 62,900 tonnes, as higher throughput from strong plant
performance was offset by planned lower ore grades (1.08% vs 1.18%).
Production from El Soldado increased by 54% to 15,100 tonnes, driven by planned higher grades (0.95% vs 0.63%),
reflecting production from a new phase of the mine.
Chile´s central zone continues to face severe drought conditions. While the rain and snowfall deficit decreased during the
second half of 2022, the outlook for 2023 remains very dry and these conditions place pressure on water availability. In
the short term, various management initiatives to improve water efficiency and secure alternative sources of water
continue to mitigate the impact on production. An agreement to secure desalinated water supply for more than 45% of
Los Bronces' water needs from 2025 was completed in Q4 2022. This is the first step of an integrated plan to eliminate
the use of fresh water at the Los Bronces operation.
2022 sales volumes were 563,000 tonnes at an average realised price of 386c/lb, which is lower than the average LME
price of 400c/lb, reflecting the impact of provisional pricing adjustments and the timing of sales across the period. At 31
December 2022, 166,900 tonnes of copper were provisionally priced at 379c/lb.
Los Bronces sales of copper concentrate in the first half of 2023, and in particular the first quarter, will be lower as a result
of the fire at the Ventanas port. Alternative export routes are being secured and any reduction in sales in the first half is
expected to be fully recovered in the second half of the year.
Peru - Following first production from the Quellaveco mine in July 2022, the operational ramp-up continued during the
fourth quarter, with 82,000 tonnes produced, taking the full year production to 102,300 tonnes. The second processing
line started up in September, with regulatory clearances received in early December. Quellaveco is expected to ramp-up
fully around mid-2023.
2022 sales volumes were 77,500 tonnes at an average realised price of 379c/lb, higher than the average LME price of
362c/lb(1), reflecting the benefit of provisional pricing adjustments since shipments commenced. At 31 December 2022,
74,800 tonnes of copper were provisionally priced at 380c/lb.
2023 Guidance
Production guidance for 2023 is 840,000-930,000 tonnes (Chile 530,000-580,000 tonnes; Peru 310,000-350,000
tonnes). Production in Chile is subject to water availability, and in Peru is subject to any socio-political effects.
Unit cost guidance for 2023 is c.156c/lb (Chile c.190c/lb; Peru c.100c/lb).
(1) Average LME price calculated from 26 September 2022 onwards, reflecting the commencement of sales for Copper Peru.
Q4 2022 Q4 2022
Copper(1) Q4 Q3 Q2 Q1 Q4 vs. vs. 2022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Total copper production 244,300 146,800 133,900 139,500 160,700 52% 66% 664,500 647,200 3%
Total copper sales volumes 242,700 132,900 132,800 132,100 173,400 40% 83% 640,500 641,100 0%
Copper Chile
Los Bronces mine(2)
Ore mined 13,133,900 11,389,900 13,256,600 8,976,100 11,056,800 19% 15% 46,756,500 43,784,900 7%
Ore processed - Sulphide 12,959,300 9,848,900 11,992,800 11,142,600 13,293,500 (3)% 32% 45,943,600 50,697,500 (9)%
Ore grade processed -
Sulphide (% TCu)(3) 0.69 0.58 0.57 0.62 0.70 (2)% 19% 0.62 0.70 (12)%
Production - Copper cathode 10,200 10,500 8,600 10,100 10,400 (2)% (3)% 39,400 39,900 (1)%
Production - Copper in
concentrate 74,100 46,400 55,700 55,300 74,500 (1)% 60% 231,500 287,800 (20)%
Total production 84,300 56,900 64,300 65,400 84,900 (1)% 48% 270,900 327,700 (17)%
Collahuasi 100% basis
(Anglo American share 44%)
Ore mined 17,975,000 20,217,100 22,025,700 22,004,800 23,940,600 (25)% (11)% 82,222,600 102,431,100 (20)%
Ore processed - Sulphide 14,797,300 14,339,600 14,337,800 13,841,700 13,979,000 6% 3% 57,316,400 55,681,300 3%
Ore grade processed -
Sulphide (% TCu)(3) 1.08 1.08 1.10 1.18 1.18 (8)% 1% 1.11 1.25 (11)%
Production - Copper in
concentrate 142,900 137,400 141,000 149,400 150,100 (5)% 4% 570,700 630,000 (9)%
Anglo American's 44% share of
copper production for Collahuasi 62,900 60,400 62,100 65,700 66,000 (5)% 4% 251,100 277,200 (9)%
El Soldado mine(2)
Ore mined 3,277,100 1,942,400 948,700 611,100 975,500 236% 69% 6,779,300 6,178,500 10%
Ore processed - Sulphide 1,898,200 1,926,500 1,914,100 1,809,700 1,909,400 (1)% (1)% 7,548,500 7,451,300 1%
Ore grade processed -
Sulphide (% TCu)(3) 0.95 0.59 0.50 0.57 0.63 50% 61% 0.65 0.73 (11)%
Production - Copper in
concentrate 15,100 9,200 7,500 8,400 9,800 54% 64% 40,200 42,300 (5)%
Chagres Smelter(2)
Ore smelted(4) 23,400 25,700 20,600 30,900 29,200 (20)% (9)% 100,600 108,000 (7)%
Production 22,500 25,000 24,900 25,100 28,400 (21)% (10)% 97,500 104,800 (7)%
Total copper production(5) 162,300 126,500 133,900 139,500 160,700 1% 28% 562,200 647,200 (13)%
Total payable copper production 156,000 121,600 128,500 134,100 154,100 1% 28% 540,200 621,100 (13)%
Total copper sales volumes 170,500 127,600 132,800 132,100 173,400 (2)% 34% 563,000 641,100 (12)%
Total payable sales volumes 164,000 122,200 127,500 126,900 166,200 (1)% 34% 540,600 612,500 (12)%
Third party sales(6) 79,500 126,600 150,900 65,300 138,500 (43)% (37)% 422,300 431,500 (2)%
Copper Peru
Quellaveco mine(7)
Ore mined 11,063,300 8,487,000 4,645,400 3,235,300 1,127,100 882% 30% 27,431,000 1,127,100 n/a
Ore processed - Sulphide 8,851,800 2,867,600 - - - n/a 209% 11,719,400 - n/a
Ore grade processed -
Sulphide (% TCu)(3) 1.17 0.96 - - - n/a 22% 1.12 - n/a
Total copper production 82,000 20,300 - - - n/a 304% 102,300 - n/a
Total payable copper production 79,300 19,600 - - - n/a 305% 98,900 - n/a
Total copper sales volumes 72,200 5,300 - - - n/a n/a 77,500 - n/a
Total payable sales volumes 69,700 5,100 - - - n/a n/a 74,800 - n/a
(1) Excludes copper production from the Platinum Group Metals business unit. Units shown are tonnes unless stated otherwise.
(2) Anglo American ownership interest of Los Bronces, El Soldado and the Chagres Smelter is 50.1%. Production is stated at 100% as Anglo American consolidates
these operations.
(3) TCu = total copper.
(4) Copper contained basis.
(5) Total copper production includes Anglo American's 44% interest in Collahuasi.
(6) Relates to sales of copper not produced by Anglo American operations.
(7) Anglo American ownership interest of Quellaveco is 60%. Production is stated at 100% as Anglo American consolidates this operation.
Nickel
Nickel (tonnes) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Nickel 10,200 10,600 (4)% 10,000 2% 39,800 41,700 (5)%
Nickel production decreased by 4% to 10,200 tonnes, primarily due to planned annual maintenance at Barro Alto as well
as the impact of high rainfall in December.
The full year average realised price for nickel of $10.26/lb was 12% lower than the market price, primarily reflecting the
ferronickel discount to LME grade nickel.
2023 Guidance
Production guidance for 2023 is 38,000-40,000 tonnes.
Unit cost guidance for 2023 is c.515c/lb.
Q4 2022 Q4 2022
Nickel (tonnes) Q4 Q3 Q2 Q1 Q4 vs. vs. 022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Barro Alto
Ore mined 973,700 1,349,100 758,300 343,700 719,300 35% (28)% 3,424,800 3,514,900 (3)%
Ore processed 570,600 589,000 618,100 643,900 654,400 (13)% (3)% 2,421,600 2,477,000 (2)%
Ore grade processed - %Ni 1.51 1.52 1.52 1.42 1.50 1% (1)% 1.49 1.55 (4)%
Production 8,000 8,200 8,600 7,900 8,600 (7)% (2)% 32,700 33,900 (4)%
Codemin
Ore mined(1) 800 - - - - n/a n/a 800 6,800 (88)%
Ore processed 148,500 133,500 134,000 115,100 141,700 5% 11% 531,100 561,500 (5)%
Ore grade processed - %Ni 1.48 1.46 1.42 1.41 1.57 (6)% 1% 1.44 1.55 (7)%
Production 2,200 1,800 1,700 1,400 2,000 10% 22% 7,100 7,800 (9)%
Total nickel production(2) 10,200 10,000 10,300 9,300 10,600 (4)% 2% 39,800 41,700 (5)%
Sales volumes 11,800 10,400 7,800 9,000 10,400 13% 13% 39,000 42,100 (7)%
(1) The prior period ore mined for Codemin has been restated. 6,800 tonnes ore mined in Q3 2021.
(2) Excludes nickel production from the Platinum Group Metals business unit.
Platinum Group Metals (PGMs)
PGMs (000 oz)(1) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Metal in concentrate production 990 1,103 (10)% 1,046 (5)% 4,024 4,299 (6)%
Own mined(2) 657 734 (11)% 683 (4)% 2,649 2,858 (7)%
Purchase of concentrate (POC)(3) 334 369 (10)% 363 (8)% 1,375 1,440 (5)%
Refined production(4) 877 1,391 (37)% 995 (12)% 3,831 5,138 (25)%
(1) Ounces refer to troy ounces. PGMs consists of 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold).
(2) Includes managed operations and 50% of joint operation production.
(3) Includes the other 50% of joint operation production, as well as the purchase of concentrate from third parties.
(4) Refined production excludes toll refined material.
Metal in concentrate production
Own mined production decreased by 11% to 656,600 ounces, primarily due to lower grades at Mogalakwena, as well as
planned infrastructure closures at Amandelbult, partially offset by a strong performance at Mototolo.
Mogalakwena production decreased by 15% to 256,700 ounces as a result of mining in a lower grade area. Production
at Amandelbult decreased by 17% to 176,600 ounces, primarily due to planned infrastructure closures and the closure of
the Merensky Concentrator. Unki was impacted by maintenance at the concentrator and lower grade leading to a 17%
decrease in production to 52,600 ounces. These were partially offset by a 26% increase in production from Mototolo,
reflecting a strong mining performance, that benefited from higher grade and recovery. Joint operations were broadly flat
at 99,000 ounces.
Purchase of concentrate was 10% lower at 333,800 ounces, due to lower third party receipts.
Refined production
Refined production decreased by 37% to 877,200 ounces, as the Polokwane smelter was decommissioned for its first full
structural rebuild in twelve years. The rebuild was completed at the end of Q4 2022 and by the end of January 2023, the
ramp-up was largely completed.
Sales
Sales volumes decreased by 31%, in line with refined production.
The full year average realised basket price was $2,551/PGM ounce, reflecting lower market prices.
2023 Guidance
Production guidance (metal in concentrate) for 2023 is 3.6-4.0 million ounces(1). Refined production guidance for 2023 is
3.6-4.0 million ounces, subject to the impact of Eskom load-shedding.
Unit cost guidance for 2023 is c.$1,025/PGM ounce.
(1) Metal in concentrate production is expected to be 1.6-1.8 million ounces of platinum, 1.2-1.3 million ounces of palladium and 0.8-0.9 million ounces of
other PGMs and gold; with own mined output accounting for ~65%.
Q4 2022 Q4 2022
Q4 Q3 Q2 Q1 Q4 vs. vs. 2022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
M&C PGMs production (000 oz)(1) 990.4 1,046.1 1,031.5 956.0 1,103.4 (10)% (5)% 4,024.0 4,298.7 (6)%
Own mined 656.6 683.2 686.3 623.1 734.2 (11)% (4)% 2,649.2 2,858.3 (7)%
Mogalakwena 256.7 259.3 261.4 248.8 300.8 (15)% (1)% 1,026.2 1,214.6 (16)%
Amandelbult 176.6 192.6 183.4 159.9 213.6 (17)% (8)% 712.5 773.2 (8)%
Unki 52.6 59.9 66.3 53.3 63.2 (17)% (12)% 232.1 204.6 13%
Mototolo 71.7 75.4 75.6 67.2 56.9 26% (5)% 289.9 244.4 19%
Joint operations(2) 99.0 96.0 99.6 93.9 99.7 (1)% 3% 388.5 421.5 (8)%
Purchase of concentrate 333.8 362.9 345.2 332.9 369.2 (10)% (8)% 1,374.8 1,440.4 (5)%
Joint operations(2) 99.0 96.0 99.6 93.9 99.7 (1)% 3% 388.5 421.5 (8)%
Third parties 234.8 266.9 245.6 239.0 269.5 (13)% (12)% 986.3 1,018.9 (3)%
Refined PGMs production (000 oz) (1)(3) 877.2 994.8 1,240.6 718.5 1,391.3 (37)% (12)% 3,831.1 5,138.4 (25)%
By metal:
Platinum 391.2 457.2 600.4 334.1 653.5 (40)% (14)% 1,782.9 2,399.9 (26)%
Palladium 278.5 317.1 374.8 228.1 423.2 (34)% (12)% 1,198.5 1,627.5 (26)%
Rhodium 51.7 64.8 86.4 46.3 97.7 (47)% (20)% 249.2 347.2 (28)%
Other PGMs and gold 155.8 155.7 179.0 110.0 216.9 (28)% 0% 600.5 763.8 (21)%
Nickel (tonnes) 4,800 5,700 6,200 4,600 5,700 (16)% (16)% 21,300 22,300 (4)%
Tolled material (000 oz)(4) 173.1 151.3 143.4 154.8 179.5 (4)% 14% 622.6 673.7 (8)%
PGMs sales from production (000 oz) (1)(5) 883.4 933.5 1,206.2 838.2 1,285.2 (31)% (5)% 3,861.3 5,214.4 (26)%
Third party PGMs sales (000 oz)(1)(6) 789.6 403.4 256.0 400.9 272.9 189% 96% 1,849.9 770.6 140%
4E head grade (g/t milled)(7) 3.19 3.33 3.33 3.24 3.49 (9)% (4)% 3.27 3.50 (7)%
(1) M&C refers to metal in concentrate. Ounces refer to troy ounces. PGMs consists of 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold).
(2) The joint operations are Modikwa and Kroondal. Platinum owns 50% of these operations, which is presented under 'Own mined' production, and purchases the
remaining 50% of production, which is presented under 'Purchase of concentrate'.
(3) Refined production excludes toll material.
(4) Tolled volume measured as the combined content of: platinum, palladium, rhodium and gold, reflecting the tolling agreements in place.
(5) PGMs sales volumes from production are generally ~65% own mined and ~35% purchases of concentrate though this may vary from quarter to quarter.
(6) Relates to sales of metal not produced by Anglo American operations.
(7) 4E: the grade measured as the combined content of: platinum, palladium, rhodium and gold, excludes tolled material. Minor metals are excluded due to variability.
Iron Ore
Iron Ore (000 t) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Iron Ore(1) 15,682 15,051 4% 16,060 (2)% 59,281 63,808 (7)%
Kumba(2) 9,961 9,701 3% 9,977 0% 37,700 40,862 (8)%
Minas-Rio(3) 5,721 5,350 7% 6,083 (6)% 21,582 22,945 (6)%
(1) Total iron ore is the sum of Kumba and Minas-Rio.
(2) Volumes are reported as wet metric tonnes. Product is shipped with ~1.6% moisture.
(3) Volumes are reported as wet metric tonnes. Product is shipped with ~9% moisture.
Iron ore production increased by 4% to 15.7 million tonnes, reflecting a 7% increase at Minas-Rio and a 3% increase at Kumba.
Kumba - Total production increased to 10.0 million tonnes, primarily driven by a 7% increase at Sishen to 7.0 million
tonnes, reflecting an improved operational performance. Kolomela decreased by 7% to 3.0 million tonnes, as production
was constrained by high stock levels at the mine due to the industrial action at Transnet (the third party rail and port
operator), as well as sub-optimal rail performance following their Q4 annual shut-down for rail and port maintenance.
Total sales decreased by 34% to 7.1 million tonnes(1), in light of the disappointing third party logistics performance,
resulting in low levels of finished stock at the port.
For the full year, Kumba's iron (Fe) content averaged 63.8% (2021: 64.1%), while the average lump:fines ratio was 67:33
(2021: 69:31).
The full year average realised price of $113/tonne(1) (FOB South Africa, wet basis) was 13% higher than the 62% Fe
benchmark price of $100/tonne (FOB South Africa, adjusted for freight and moisture), reflecting the lump and Fe content
quality premiums that the Kumba products attract, partly offset by the impact of provisionally priced sales volumes.
Minas-Rio - Production increased by 7% to 5.7 million tonnes, primarily due to higher plant and mining equipment
availability, despite particularly high rainfall in December that has continued into early 2023.
The full year average realised price of $108/tonne (FOB Brazil, wet basis) was in line with the Metal Bulletin 66 price of
$108/tonne (FOB Brazil, adjusted for freight and moisture), which reflects the premium for our high quality product,
including higher (~67%) Fe content, but was offset by the impact of provisionally priced volumes.
2023 Guidance
Production guidance (wet basis) for 2023 is 57-61 million tonnes (Kumba 35-37 million tonnes; Minas-Rio 22-24 million
tonnes). Kumba is subject to third party rail and port performance.
Unit cost guidance (wet basis) for 2023 is c.$39/tonne (Kumba c.$44/tonne; Minas-Rio c.$32/tonne).
(1) Sales volumes and realised price are reported on a wet basis and differ to Kumba's standalone results due to sales to other Group companies.
Iron Ore (tonnes) Q4 Q3 Q2 Q1 Q4 Q4 2022 vs. Q4 2022 vs. 2022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2021 2022 2021
Iron Ore production(1) 15,682,400 16,060,000 14,373,900 13,164,900 15,050,800 4% (2)% 59,281,200 63,807,600 (7)%
Iron Ore sales(1) 13,886,700 15,799,200 14,470,800 13,828,700 16,775,700 (17)% (12)% 57,985,400 63,284,500 (8)%
Kumba production 9,961,400 9,977,300 9,468,800 8,292,000 9,701,300 3% 0% 37,699,500 40,862,200 (8)%
Lump 6,523,000 6,530,300 6,229,900 5,387,700 6,419,900 2% 0% 24,670,900 27,552,500 (10)%
Fines 3,438,400 3,447,000 3,238,900 2,904,300 3,281,400 5% 0% 13,028,600 13,309,700 (2)%
Kumba production by mine
Sishen 7,010,500 7,085,600 7,105,500 5,816,100 6,538,200 7% (1)% 27,017,700 28,014,500 (4)%
Kolomela 2,950,900 2,891,700 2,363,300 2,475,900 3,163,100 (7)% 2% 10,681,800 12,847,700 (17)%
Kumba sales volumes(2) 7,053,900 9,982,000 10,302,700 9,332,000 10,690,300 (34)% (29)% 36,670,600 40,292,200 (9)%
Export iron ore(2) 7,053,900 9,982,000 10,302,700 9,332,000 10,690,300 (34)% (29)% 36,670,600 40,185,100 (9)%
Domestic iron ore - - - - - n/a n/a - 107,100 n/a
Minas-Rio production
Pellet feed 5,721,000 6,082,700 4,905,100 4,872,900 5,349,500 7% (6)% 21,581,700 22,945,400 (6)%
Minas-Rio sales volumes
Export - pellet feed 6,832,800 5,817,200 4,168,100 4,496,700 6,085,400 12% 17% 21,314,800 22,992,300 (7)%
(1) Total iron ore is the sum of Kumba and Minas-Rio and reported in wet metric tonnes. Kumba product is shipped with ~1.6% moisture and Minas-Rio product is
shipped with ~9% moisture.
(2) Sales volumes differ to Kumba's standalone results due to sales to other Group companies.
Steelmaking Coal
Steelmaking Coal(1) (000 t) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Steelmaking Coal 4,650 4,372 6% 5,510 (16)% 15,007 14,908 1%
(1) Anglo American's attributable share of production. Includes production relating to processing of third party product.
Steelmaking coal production increased by 6% to 4.6 million tonnes, primarily due to the ramp-up of the Grosvenor
longwall operation following its restart in February 2022. Production from the new Aquila longwall operation, which
began operations in February 2022, was offset by the planned end of production at the Grasstree operation in January
2022. Tight labour markets, as well as unseasonal wet weather at the open pits, continued to impact production through
the fourth quarter and into early 2023.
The focus at the underground longwall operations (Moranbah, Grosvenor and Aquila) remains on safety and increasing
longwall performance through stability.
The ratio of hard coking coal production to PCI/semi-soft coking coal was 78:22, higher than Q4 2021 (67:33), reflecting
the higher contribution of premium hard coking coal from the Grosvenor and Moranbah longwall operations.
The full year average realised price for hard coking coal was $310/tonne, which was lower than the benchmark price of
$364/tonne. The price realisation was lower at 85% (2021: 93%) driven by a higher volume of premium hard coking coal
being produced and sold in the second half of 2022 when the benchmark price was lower.
2023 Guidance
Production guidance for 2023 is 16-19 million tonnes.
Unit cost guidance for 2023 is c.$105/tonne.
Q4 2022 Q4 2022
Coal, by product (tonnes)(1) Q4 Q3 Q2 Q1 Q4 vs. vs. 2022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Production volumes
Steelmaking Coal(2) 4,649,800 5,510,200 2,620,600 2,226,400 4,372,100 6% (16)% 15,007,000 14,907,700 1%
Hard coking coal(2) 3,647,300 4,562,200 2,125,600 1,753,000 2,922,400 25% (20)% 12,088,100 11,320,500 7%
PCI / SSCC 1,002,500 948,000 495,000 473,400 1,449,700 (31)% 6% 2,918,900 3,587,200 (19)%
Export thermal coal 427,500 424,000 365,900 427,400 341,800 25% 1% 1,644,800 1,677,000 (2)%
Sales volumes
Steelmaking Coal(2) 4,232,500 5,245,100 2,776,100 2,429,700 4,182,400 1% (19)% 14,683,400 14,136,800 4%
Hard coking coal(2) 3,113,800 4,289,200 2,096,600 1,812,000 2,793,500 11% (27)% 11,311,600 10,795,400 5%
PCI / SSCC 1,118,700 955,900 679,500 617,700 1,388,900 (19)% 17% 3,371,800 3,341,400 1%
Export thermal coal 473,100 479,900 390,000 337,900 483,800 (2)% (1)% 1,680,900 2,108,200 (20)%
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
Q4 2022 Q4 2022
Steelmaking coal, by operation Q4 Q3 Q2 Q1 Q4 vs. vs. 2022 vs.
(tonnes)(1) 2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Steelmaking Coal(2) 4,649,800 5,510,200 2,620,600 2,226,400 4,372,100 6% (16)% 15,007,000 14,907,700 1%
Moranbah(2) 1,489,800 1,522,900 209,700 172,800 1,084,300 37% (2)% 3,395,200 3,050,700 11%
Grosvenor 777,600 1,277,400 856,300 125,200 52,100 n/a (39)% 3,036,500 71,600 n/a
Aquila (incl. Capcoal)(2)(3) 1,023,000 1,149,400 527,100 746,400 1,588,700 (36)% (11)% 3,445,900 5,992,900 (43)%
Dawson 583,700 741,300 317,400 444,900 654,100 (11)% (21)% 2,087,300 2,483,700 (16)%
Jellinbah 775,700 819,200 710,100 737,100 802,200 (3)% (5)% 3,042,100 3,118,100 (2)%
Other - - - - 190,700 n/a n/a - 190,700 n/a
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
(3) Includes production from the Aquila longwall operation from February 2022. Prior to then, includes production from the Grasstree longwall operation.
Manganese
Manganese (000 t) Q4 Q4 Q4 2022 vs. Q3 Q4 2022 vs. 2022 vs.
2022 2021 Q4 2021 2022 Q3 2022 2022 2021 2021
Manganese ore(1) 984 835 18% 973 1% 3,741 3,683 2%
(1) Saleable production.
Manganese ore production increased by 18% to 984,300 tonnes, driven by improved yield and plant reliability at the
Australia operations and improved mining performance and equipment reliability at the South Africa operations.
Q4 2022 Q4 2022
Manganese (tonnes) Q4 Q3 Q2 Q1 Q4 vs. vs. 2022 vs.
2022 2022 2022 2022 2021 Q4 2021 Q3 2022 2022 2021 2021
Samancor production
Manganese ore(1) 984,300 973,300 979,600 803,500 834,600 18% 1% 3,740,700 3,683,200 2%
Samancor sales volumes
Manganese ore 954,700 834,400 960,200 846,900 940,200 2% 14% 3,596,200 3,745,800 (4)%
(1) Saleable production.
Exploration and evaluation
Exploration and evaluation expenditure increased by 10% to $112 million. Exploration expenditure increased by 4% to
$49 million, principally in copper. Evaluation expenditure increased by 15% to $63 million, driven by higher spend in iron
ore and platinum group metals.
Corporate and other activities
During the quarter, the Group finalised the insurance claim for the overpressure event at Moranbah, resulting in a one-off
expense of $0.1 billion within the Corporate and other segment, with an offsetting one-off benefit in the Steelmaking Coal
segment. This is in addition to amounts settled in the first half of 2022. Furthermore, charges recognised within EBITDA
relating to rehabilitation provisions are currently estimated to be $0.2 billion at Copper and $0.1 billion at De Beers.
For more information on Anglo American's announcements during the period, please find a link to our Press Releases below:
https://www.angloamerican.com/media/press-releases/2023
Notes
- This Production Report for the quarter ended 31 December 2022 is unaudited.
- Production figures are sometimes more precise than the rounded numbers shown in this Production Report.
- Copper equivalent production shows changes in underlying production volume. It is calculated by expressing each
product's volume as revenue, subsequently converting the revenue into copper equivalent units by dividing by the
copper price (per tonne). Long-term forecast prices are used, in order that period-on-period comparisons exclude any
impact for movements in price.
- Please refer to page 16 for information on forward-looking statements.
In this document, references to "Anglo American", the "Anglo American Group", the "Group", "we", "us", and "our" are to
refer to either Anglo American plc and its subsidiaries and/or those who work for them generally, or where it is not
necessary to refer to a particular entity, entities or persons. The use of those generic terms herein is for convenience only,
and is in no way indicative of how the Anglo American Group or any entity within it is structured, managed or controlled.
Anglo American subsidiaries, and their management, are responsible for their own day-to-day operations, including but
not limited to securing and maintaining all relevant licences and permits, operational adaptation and implementation of
Group policies, management, training and any applicable local grievance mechanisms. Anglo American produces
group-wide policies and procedures to ensure best uniform practices and standardisation across the Anglo American
Group but is not responsible for the day to day implementation of such policies. Such policies and procedures constitute
prescribed minimum standards only. Group operating subsidiaries are responsible for adapting those policies and
procedures to reflect local conditions where appropriate, and for implementation, oversight and monitoring within their
specific businesses.
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Emma Waterworth
marcelo.esquivel@angloamerican.com emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 8574
Rebecca Meeson-Frizelle Michelle Jarman
rebecca.meeson-frizelle@angloamerican.com michelle.jarman@angloamerican.com
Tel: +44 (0)20 7968 1374 Tel: +44 (0)20 7968 1494
South Africa
Nevashnee Naicker
nevashnee.naicker@angloamerican.com
Tel: +27 (0)11 638 3189
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
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 operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and
that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we
use innovative practices and the latest technologies to discover new resources and to mine, process, move and market
our products to our customers - safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and
steelmaking coal, and nickel - with crop nutrients in development - we are committed to being carbon neutral across our
operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we
work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work
together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources
for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders.
Anglo American is re-imagining mining to improve people's lives.
www.angloamerican.com
Forward-looking statements and third-party information:
This announcement includes forward-looking statements. All statements other than statements of historical facts
included in this announcement, including, without limitation, those regarding Anglo American's financial position,
business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future
operations, prospects and projects (including development plans and objectives relating to Anglo American's products,
production forecasts and Ore Reserve and Mineral Resource positions) and sustainability performance related (including
environmental, social and governance) goals, ambitions, targets, visions, milestones and aspirations, are forward-looking
statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking
statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future
business strategies and the environment in which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-
looking statements include, among others, levels of actual production during any period, levels of global demand and
commodity market prices, unanticipated downturns in business relationships with customers or their purchase from
Anglo American, mineral resource exploration and project development capabilities and delivery, recovery rates and
other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks
of infectious diseases, the impact of attacks from third parties on our information systems, natural catastrophes or
adverse geological conditions, climate change and extreme weather events, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability to obtain key inputs in a timely manner, the
ability to produce and transport products profitably, the availability of necessary infrastructure (including transportation)
services, the development, efficacy and adoption of new technology or competing, challenges in realising resource
estimates or discovering new economic mineralisation, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, liquidity and counterparty risks, the effects of inflation, terrorism,
war, conflict, political or civil unrest, uncertainty, tensions and disputes and economic and financial conditions around the
world, evolving societal and stakeholder requirements and expectations, shortages of skilled employees, unexpected
difficulties relating to acquisitions or divestitures, competitive pressures and the actions of competitors, activities by
courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing
of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or
other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership
rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements
should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking
statements.
These forward-looking statements speak only as of the date of this announcement. Anglo American expressly disclaims
any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK
Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the
securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the
Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto
or any change in events, conditions or circumstances on which any such statement is based.
Nothing in this announcement should be interpreted to mean that future earnings per share of Anglo American will
necessarily match or exceed its historical published earnings per share. Certain statistical and other information about
Anglo American included in this announcement is sourced from publicly available third party sources. As such it has not
been independently verified and presents the views of those third parties, but may not necessarily correspond to the
views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such
information.
(c)Anglo American Services (UK) Ltd 2022. AngloAmerican(TM) are trade marks of Anglo American
Services (UK) Ltd. nuGen(TM) is a trade mark of Anglo American Technical & Sustainability Services Ltd.
Legal Entity Identifier: 549300S9XF92D1X8ME43
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary listings on the Johannesburg Stock Exchange,
the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
2 February 2023
