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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
27 October 2022
Production Report for the third quarter ended 30 September 2022
Duncan Wanblad, Chief Executive of Anglo American, said: "Our performance stepped up 16%(1) quarter-on-quarter
amid a challenging operating environment, driven by the ongoing ramp-up of our Steelmaking Coal longwall operations
and continued strong performance at De Beers. Our new world-class copper mine in Peru, Quellaveco, continues to
ramp-up production with shipments to customers now under way. Production in the third quarter was broadly flat(1)
compared to the same period in 2021, as higher production from Quellaveco, Steelmaking Coal and De Beers was offset
primarily by expected lower copper ore grades in Chile and some operational challenges at our Kumba iron ore business.
"As we move through the final quarter, we are focused on maintaining this operational momentum to deliver our full year
guidance. The continued safe ramp-up of our steelmaking coal operations, as well as further performance improvements
at our iron ore businesses, are priorities to set the platform for delivery into next year. We do continue to feel the effects of
dislocations in the global economy on our business - in energy and across supply chains and labour markets - and are
planning accordingly for 2023, confident in the strategic position of our business.
"We continue to make important progress towards our holistic sustainability commitments. With renewable electricity
supply secured for all our South America operations, we have now formed our renewable energy partnership with EDF
Renewables in South Africa. Our new jointly owned company, Envusa Energy, is developing its first phase of more than
600 MW of wind and solar projects, a major step towards our vision of a 3-5 GW renewable energy ecosystem in the
region by 2030. The issuance of our first sustainability-linked bond, a first of its kind from a major diversified mining
company, re-affirms our commitment to our targets to reduce greenhouse gas emissions and fresh water abstraction
and to support job creation in the communities where we operate."
Q3 2022 highlights
- Rough diamond production increased by 4%, principally reflecting the treatment of higher grade ore at Orapa
(Botswana) as well as continued strong performance in Namibia.
- Steelmaking coal production increased by 28%, reflecting the ongoing ramp-up of the longwall operations. Continuing
to do so in a safe and stable way is our first priority.
- Copper production decreased by 6%, due to planned lower grades at all our operations in Chile, as well as
unfavourable ore characteristics at Los Bronces, partly offset by the first production of copper from Quellaveco in Peru.
- Metal in concentrate production from our Platinum Group Metals (PGMs) operations decreased by 6%, due to the
impact of Eskom load-shedding (power outages) primarily in September, infrastructure closures at Amandelbult and
lower grade at Mogalakwena.
- Iron ore production decreased by 5% primarily due to Kumba, which was impacted by the slow ramp-up after the
safety intervention in the second quarter and Eskom load-shedding, primarily in September, while production at Minas-
Rio was flat.
- Nickel production decreased by 4%, primarily due to lower grades.
Production Q3 2022 Q3 2021 % vs. Q3 2021 YTD 2022 YTD 2021 % vs. YTD 2021
Diamonds (Mct)(2) 9.6 9.2 4% 26.5 24.6 8%
Copper (kt)(3) 147 157 (6)% 420 487 (14)%
Nickel (kt)(4) 10.0 10.4 (4)% 29.6 31.1 (5)%
Platinum group metals (koz)(5) 1,046 1,116 (6)% 3,034 3,195 (5)%
Iron ore (Mt)(6) 16.1 16.9 (5)% 43.6 48.8 (11)%
Steelmaking coal (Mt) 5.5 4.3 28% 10.4 10.5 (2)%
Manganese ore (kt) 973 1,004 (3)% 2,756 2,849 (3)%
(1) Copper equivalent production basis. Copper equivalent production decreased by 1% compared to Q3 2021.
(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 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
2022 production guidance(1) 2022 unit cost guidance(1)
Diamonds(2) 32-34 Mct c.$65/ct
Copper(3) 640-680 kt c.159c/lb
Nickel(4) 40-42 kt c.495c/lb
Platinum Group Metals(5) 3.9-4.3 Moz c.$950/oz
Iron Ore(6) 60-64 Mt c.$40/t
Steelmaking Coal(7) 15-17 Mt c.$110/t
(1) Subject to the extent of further Covid-19 related disruption. Unit costs exclude royalties, depreciation and include direct support costs only.
(FX rates for H2 2022 costs: ~17 ZAR:USD, ~1.5 AUD:USD, ~5.5 BRL:USD, ~950 CLP:USD, ~4 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 during 2022, with ramp-up expected from 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: 560-580 kt and Peru: 80-100 kt.
Peru subject to progress on ramp-up of operations. Unit cost total is a weighted average based on the mid-point of production guidance. Chile: c.160c/lb.
Peru: c.150c/lb, based on progressing the ramp-up of production volumes.
(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.
Production is subject to weather related disruptions.
(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. 2022 metal
in concentrate production is expected to be 1.8-2.0 Moz of platinum, 1.2-1.3 Moz of palladium and 0.9-1.0 Moz of other PGMs and gold. 5E + gold refined
production is expected to be 3.7-3.9 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. Minas-Rio: 22-24 Mt and Kumba: 38-40 Mt. Minas-Rio is
subject to weather related disruptions. Kumba is subject to the third party rail and port performance, weather related disruptions as well as the impact of
Eskom load-shedding. Unit cost total is a weighted average based on the mid-point of production guidance. Minas-Rio: c.$32/t and Kumba: c.$44/t.
(7) Production excludes thermal coal by-product from Australia and is subject to the extent of further unseasonal wet weather and continued tight labour markets.
FOB unit cost comprises managed operations and excludes royalties and study costs.
Realised prices
Q3 YTD 2022 vs Q3 YTD
Q3 YTD 2022 Q3 YTD 2021 2021
Copper (USc/lb)(1) 377 434 (13)%
Copper Chile (USc/lb)(2) 377 434 (13)%
Copper Peru (USc/lb) 341 - na
Nickel (US$/lb) 10.68 7.48 43%
Platinum Group Metals
Platinum (US$/oz)(3) 937 1,118 (16)%
Palladium (US$/oz)(3) 2,107 2,582 (18)%
Rhodium (US$/oz)(3) 16,139 22,009 (27)%
Basket price (US$/PGM oz)(4) 2,627 2,868 (8)%
Iron Ore - FOB prices(5) 115 176 (35)%
Kumba Export (US$/wmt)(6) 115 181 (36)%
Minas-Rio (US$/wmt)(7) 114 167 (32)%
Steelmaking Coal - HCC (US$/t)(8) 324 149 117%
Steelmaking Coal - PCI (US$/t)(8) 279 138 102%
(1) Average realised total copper price is a weighted average of the Copper Chile and Copper Peru realised prices.
(2) The realised price for Copper excludes third party sales volumes.
(3) The realised price excludes trading.
(4) 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).
(5) Average realised total iron ore price is a weighted average of the Kumba and Minas-Rio realised prices.
(6) 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 $117/t (Q3 YTD 2021: $184/t) and this was higher than the dry 62% Fe benchmark price of $108/t (FOB South Africa, adjusted for freight).
(7) Average realised export basket price (FOB Acu) (wet basis as product is shipped with ~9% moisture).
(8) Weighted average coal sales price achieved at managed operations. Australian thermal coal by-product is US$309/t and Q3 YTD 2021 was US$105/t,
resulting in a 194% increase.
De Beers
De Beers(1) (000 carats) Q3 Q3 Q3 2022 vs. Q2 Q3 2022 vs. YTD YTD YTD 2022 vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Botswana 6,647 6,403 4% 5,521 20% 18,352 17,090 7%
Namibia 531 399 33% 565 (6)% 1,547 1,075 44%
South Africa 1,651 1,577 5% 1,220 35% 4,567 4,014 14%
Canada 741 797 (7)% 643 15% 1,988 2,406 (17)%
Total carats recovered 9,570 9,176 4% 7,949 20% 26,454 24,585 8%
Rough diamond production increased by 4% to 9.6 million carats, primarily due to the treatment of higher grade ore at
both Orapa (Botswana) and in South Africa, and continued strong performance in Namibia.
In Botswana, production increased by 4% to 6.6 million carats, primarily driven by treatment of higher grade ore at Orapa,
partly offset by processing lower grade ore at Jwaneng.
Namibia production increased by 33% to 0.5 million carats, primarily driven by continued strong performance from the
Benguela Gem vessel.
South Africa production increased by 5% to 1.7 million carats, driven by the treatment of higher grade ore and the benefit
of plant upgrades.
Production in Canada decreased by 7% to 0.7 million carats, due to the treatment of lower grade ore and the impact of
tight labour markets.
Demand for rough diamonds remained steady, with rough diamond sales totalling 9.1 million carats (8.5 million carats on
a consolidated basis)(2) from three Sights, compared with 7.8 million carats (7.0 million carats on a consolidated basis)(2)
from two Sights in Q3 2021 and 9.4 million carats (8.3 million carats on a consolidated basis)(2) from three Sights in Q2 2022.
While consumer demand for natural diamonds continues to be robust, a deterioration of global economic
conditions, reduced consumer spending and continued Chinese Covid-19 lockdowns have the potential to impact
demand for diamond jewellery.
2022 Guidance
Production guidance(1) for 2022 is unchanged at 32-34 million carats (100% basis), subject to trading conditions and the
extent of further Covid-19 related disruptions.
In line with normal seasonal trends, we anticipate that sales in the final quarter of the year will be affected by the normal
temporary closure of cutting and polishing factories for the religious holidays in India.
Unit cost guidance for 2022 is unchanged at c.$65/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).
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
De Beers(1) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Carats recovered (000 carats)
100% basis (unless stated)
Jwaneng 3,567 3,120 3,632 2,679 3,954 (10)% 14% 10,319 10,214 1%
Orapa(2) 3,080 2,401 2,552 2,557 2,449 26% 28% 8,033 6,876 17%
Total Botswana 6,647 5,521 6,184 5,236 6,403 4% 20% 18,352 17,090 7%
Debmarine Namibia 423 488 375 330 309 37% (13)% 1,286 807 59%
Namdeb (land operations) 108 77 76 62 90 20% 40% 261 268 (3)%
Total Namibia 531 565 451 392 399 33% (6)% 1,547 1,075 44%
Venetia 1,651 1,220 1,696 1,292 1,577 5% 35% 4,567 4,014 14%
Total South Africa 1,651 1,220 1,696 1,292 1,577 5% 35% 4,567 4,014 14%
Gahcho Kue (51% basis) 741 643 604 771 797 (7)% 15% 1,988 2,406 (17)%
Total Canada 741 643 604 771 797 (7)% 15% 1,988 2,406 (17)%
Total carats recovered 9,570 7,949 8,935 7,691 9,176 4% 20% 26,454 24,585 8%
Sales volumes
Total sales volume (100)% (Mct)(3) 9.1 9.4(4) 7.9(4) 7.7 7.8 17% (3)% 26.4 28.6 (8)%
Consolidated sales volume (Mct)(3) 8.5 8.3(4) 7.0(4) 7.2 7.0 21% 2% 23.8 26.2 (9)%
Number of Sights (sales cycles) 3 3(4) 2(4) 3 2 8 7
(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) Q3 Q3 Q3 2022 vs. Q2 Q3 2022 vs. YTD YTD YTD 2022 vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Copper 147 157 (6)% 134 10% 420 487 (14)%
Copper Chile 127 157 (19)% 134 (6)% 400 487 (18)%
Copper Peru 20 - n/a n/a n/a 20 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 decreased by 6% to 147,000 tonnes, primarily due to a decrease of 19% in Chile, partly offset by the
first production of copper in concentrate from Quellaveco in Peru.
Chile - Copper production decreased by 19% to 126,500 tonnes due to planned lower grades at all operations, and
unfavourable ore characteristics and unplanned stoppages at Los Bronces.
Production from Los Bronces decreased by 29% to 56,900 tonnes, primarily due to lower ore processed as a result of the
impact of increased ore hardness and unplanned stoppages, as well as planned lower grades (0.58% vs 0.70%).
At Collahuasi, attributable production decreased by 8% to 60,400 tonnes driven by planned lower grades (1.08% vs 1.28%).
Production from El Soldado decreased by 21% to 9,200 tonnes due to planned lower grades (0.59% vs 0.73%).
Chile´s central zone continues to face severe drought conditions, with the last two years up to June 2022 being the driest
years since records began. While the rain and snowfall deficit decreased during the third quarter, the outlook remains
very dry and these conditions place pressure on water availability in 2023. In the short term, various management
initiatives to improve water efficiency and secure alternative sources of water continue to partly mitigate the impact on
production.
The average realised price of 377 c/lb, includes 135,000 tonnes of copper provisionally priced on 30 September at an
average of 346 c/lb.
Peru - First production of copper in concentrate from the Quellaveco mine was on 12 July 2022, with 20,300 tonnes
successfully produced by the end of the third quarter. On 26 September 2022, we announced the start of commercial
operations following receipt of final regulatory clearance, with sales commencing in the subsequent days. Quellaveco is
expected to ramp-up fully over the next 9-12 months.
5,100 tonnes of copper from Quellaveco were provisionally priced on 30 September at an average realised price of 341c/lb.
2022 Guidance
Production guidance for 2022 is unchanged at 640,000-680,000 tonnes (Chile 560,000-580,000 tonnes; Peru 80,000-
100,000 tonnes). Production is subject to the extent of further Covid-19 related disruptions and, in Peru, progress on
ramp-up of operations.
Unit cost guidance for 2022 is unchanged at c.159c/lb (Chile c.160c/lb; Peru c.150c/lb).
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Copper(1) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Total copper production 146,800 133,900 139,500 160,700 156,500 (6)% 10% 420,200 486,500 (14)%
Total copper sales volumes 132,900 132,800 132,100 173,400 162,300 (18)% 0% 397,800 467,700 (15)%
Copper Chile
Los Bronces mine(2)
Ore mined 11,389,900 13,256,600 8,976,100 11,056,800 10,512,600 8% (14)% 33,622,600 32,728,100 3%
Ore processed - Sulphide 9,848,900 11,992,800 11,142,600 13,293,500 12,715,400 (23)% (18)% 32,984,300 37,404,000 (12)%
Ore grade processed -
Sulphide (% TCu)(3) 0.58 0.57 0.62 0.70 0.70 (18)% 1% 0.59 0.70 (16)%
Production - Copper cathode 10,500 8,600 10,100 10,400 9,800 7% 22% 29,200 29,500 (1)%
Production - Copper in
concentrate 46,400 55,700 55,300 74,500 69,800 (34)% (17)% 157,400 213,300 (26)%
Total production 56,900 64,300 65,400 84,900 79,600 (29)% (12)% 186,600 242,800 (23)%
(Anglo American share 44%)
Ore mined 20,217,100 22,025,700 22,004,800 23,940,600 30,327,200 (33)% (8)% 64,247,600 78,490,500 (18)%
Ore processed - Sulphide 14,339,600 14,337,800 13,841,700 13,979,000 12,926,400 11% 0% 42,519,100 41,702,300 2%
Ore grade processed -
Sulphide (% TCu)(3) 1.08 1.10 1.18 1.18 1.28 (16)% (3)% 1.12 1.27 (12)%
Production - Copper in
concentrate 137,400 141,000 149,400 150,100 148,300 (7)% (3)% 427,800 479,900 (11)%
Anglo American's 44% share of
copper production for Collahuasi 60,400 62,100 65,700 66,000 65,300 (8)% (3)% 188,200 211,200 (11)%
El Soldado mine(2)
Ore mined 1,942,400 948,700 611,100 975,500 1,697,800 14% 105% 3,502,200 5,203,000 (33)%
Ore processed - Sulphide 1,926,500 1,914,100 1,809,700 1,909,400 1,952,000 (1)% 1% 5,650,300 5,541,900 2%
Ore grade processed -
Sulphide (% TCu)(3) 0.59 0.50 0.57 0.63 0.73 (20)% 17% 0.55 0.73 (24)%
Production - Copper in
concentrate 9,200 7,500 8,400 9,800 11,600 (21)% 23% 25,100 32,500 (23)%
Chagres Smelter(2)
Ore smelted(4) 25,700 20,600 30,900 29,200 30,200 (15)% 25% 77,200 78,800 (2)%
Production 25,000 24,900 25,100 28,400 29,200 (14)% 0% 75,000 76,400 (2)%
Total copper production(5) 126,500 133,900 139,500 160,700 156,500 (19)% (6)% 399,900 486,500 (18)%
Total payable copper production 121,600 128,500 134,100 154,100 150,100 (19)% (5)% 384,200 467,000 (18)%
Total copper sales volumes 127,600 132,800 132,100 173,400 162,300 (21)% (4)% 392,500 467,700 (16)%
Total payable sales volumes 122,200 127,500 126,900 166,200 153,900 (21)% (4)% 376,600 446,300 (16)%
Third party sales(6) 126,600 150,900 65,300 138,500 136,200 (7)% (16)% 342,800 293,000 17%
Copper Peru
Quellaveco mine(7)
Ore mined 8,487,000 4,645,400 3,235,300 1,127,100 - n/a 83% 16,367,700 - n/a
Ore processed - Sulphide 2,867,600 - - - - n/a n/a 2,867,600 - n/a
Ore grade processed -
Sulphide (% TCu)(3) 0.96 - - - - n/a n/a 0.96 - n/a
Production - Copper in
concentrate 20,300 - - - - n/a n/a 20,300 - n/a
Total copper production 20,300 - - - - n/a n/a 20,300 - n/a
Total payable copper production 19,600 - - - - n/a n/a 19,600 - n/a
Total copper sales volumes 5,300 - - - - n/a n/a 5,300 - n/a
Total payable sales volumes 5,100 - - - - n/a n/a 5,100 - 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
Q3 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Nickel (tonnes) vs. Q2 vs. vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Nickel 10,000 10,400 (4)% 10,300 (3)% 29,600 31,100 (5)%
Nickel production decreased by 4% to 10,000 tonnes, primarily due to planned lower ore grades, partly offset by the
deferral of planned annual maintenance to the fourth quarter of 2022.
The year to date average realised price for nickel of $10.68/lb was 9% lower than the market price, primarily reflecting
the ferronickel discount to LME grade nickel.
2022 Guidance
Production for 2022 is expected to be towards the lower end of the guidance range of 40,000-42,000 tonnes, subject to
the extent of further Covid-19 related disruptions and weather related impacts.
Unit cost guidance for 2022 is unchanged at c.495c/lb.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Nickel (tonnes) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Barro Alto
Ore mined 1,349,100 758,300 343,700 719,300 1,190,900 13% 78% 2,451,100 2,795,600 (12)%
Ore processed 589,000 618,100 643,900 654,400 564,400 4% (5)% 1,851,000 1,822,600 2%
Ore grade processed - %Ni 1.52 1.52 1.42 1.50 1.64 (7)% 0% 1.49 1.57 (5)%
Production 8,200 8,600 7,900 8,600 8,300 (1)% (5)% 24,700 25,300 (2)%
Codemin
Ore processed 133,500 134,000 115,100 141,700 146,800 (9)% 0% 382,600 419,800 (9)%
Ore grade processed - %Ni 1.46 1.42 1.41 1.57 1.60 (9)% 3% 1.43 1.55 (8)%
Production 1,800 1,700 1,400 2,000 2,100 (14)% 6% 4,900 5,800 (16)%
Total Nickel production(1) 10,000 10,300 9,300 10,600 10,400 (4)% (3)% 29,600 31,100 (5)%
Sales volumes 10,400 7,800 9,000 10,400 11,700 (11)% 33% 27,200 31,700 (14)%
(1) Excludes nickel production from the Platinum Group Metals business unit.
Platinum Group Metals (PGMs)
Q3 Q3 Q3 2022 Q2 Q3 2022 YTD YTD YTD 2022
PGMs (000 oz)(1) vs. vs. vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Metal in concentrate production 1,046 1,116 (6)% 1,032 1% 3,034 3,195 (5)%
Own mined(2) 683 720 (5)% 686 0% 1,993 2,124 (6)%
Purchase of concentrate (POC)(3) 363 396 (8)% 345 5% 1,041 1,071 (3)%
Refined production(4) 995 1,420 (30)% 1,241 (20)% 2,954 3,747 (21)%
(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 5% to 683,200 ounces, due to Eskom load-shedding (power outages) primarily in
September, infrastructure closures at Amandelbult during Q4 2021 and lower grade at Mogalakwena, partially offset by
strong performances at Unki and Mototolo.
Production at Amandelbult decreased by 12% to 192,600, primarily due to infrastructure closures during Q4 2021 as well
as the impact of Eskom load-shedding. Mogalakwena production decreased by 6% to 259,300 ounces as a result of
mining in a lower grade area. Joint operations decreased by 16% to 96,000 ounces due to areas of Kroondal coming to
the end of life and the impact of Eskom load-shedding, as well as planned lower grade at Modikwa. These were partially
offset by a 41% increase in production at Unki to 59,900 ounces, following the debottlenecking project at the
concentrator, completed in Q4 2021. Production at Mototolo increased by 9%, reflecting the benefit of higher grade.
Purchase of concentrate was 8% lower at 362,900 ounces, due to the lower production from joint operations as well as
lower third party receipts.
Refined production
Refined production decreased by 30% to 994,800 ounces, as the Polokwane smelter was decommissioned for its first full
structural rebuild in twelve years. The rebuild is expected to be completed towards the end of Q4 2022. Eskom load-
shedding also impacted the smelters, leading to an inventory build-up of 40,400 ounces.
Sales
Sales volumes decreased by 31%, in line with refined production.
The year to date average realised basket price of $2,627/PGM ounce reflects lower market prices, partially offset by a
more normal sales mix compared with the same period in 2021, which had elevated sales volumes of lower priced
ruthenium.
2022 Guidance
Production guidance (metal in concentrate) for 2022 is unchanged at 3.9-4.3 million ounces(1). Refined production
guidance for 2022 is unchanged at 3.7-3.9 million ounces, subject to the impact of Eskom load-shedding. Both are
subject to the extent of further Covid-19 related disruption.
Unit cost guidance for 2022 is unchanged at c.$950/PGM ounce.
(1) Metal in concentrate production is expected to be 1.8-2.0 million ounces of platinum, 1.2-1.3 million ounces of palladium and 0.9-1.0 million
ounces of other PGMs and gold. With own-mined output accounting for ~65%.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
M&C PGMs production (000 oz)(1) 1,046.1 1,031.5 956.0 1,103.4 1,116.2 (6)% 1% 3,033.6 3,195.3 (5)%
Own mined 683.2 686.3 623.1 734.2 720.0 (5)% 0% 1,992.6 2,124.1 (6)%
Mogalakwena 259.3 261.4 248.8 300.8 276.4 (6)% (1)% 769.5 913.8 (16)%
Amandelbult 192.6 183.4 159.9 213.6 218.3 (12)% 5% 535.9 559.6 (4)%
Unki 59.9 66.3 53.3 63.2 42.6 41% (10)% 179.5 141.4 27%
Mototolo 75.4 75.6 67.2 56.9 69.0 9% 0% 218.2 187.5 16%
Joint operations(2) 96.0 99.6 93.9 99.7 113.7 (16)% (4)% 289.5 321.8 (10)%
Purchase of concentrate 362.9 345.2 332.9 369.2 396.2 (8)% 5% 1,041.0 1,071.2 (3)%
Joint operations(2) 96.0 99.6 93.9 99.7 113.7 (16)% (4)% 289.5 321.8 (10)%
Third parties 266.9 245.6 239.0 269.5 282.5 (6)% 9% 751.5 749.4 0%
Refined PGMs production (000 oz)(1)(3) 994.8 1,240.6 718.5 1,391.3 1,420.4 (30)% (20)% 2,953.9 3,747.1 (21)%
By metal:
Platinum 457.2 600.4 334.1 653.5 662.9 (31)% (24)% 1,391.7 1,746.4 (20)%
Palladium 317.1 374.8 228.1 423.2 459.8 (31)% (15)% 920.0 1,204.3 (24)%
Rhodium 64.8 86.4 46.3 97.7 92.2 (30)% (25)% 197.5 249.5 (21)%
Other PGMs and gold 155.7 179.0 110.0 216.9 205.5 (24)% (13)% 444.7 546.9 (19)%
Nickel (tonnes) 5,700 6,200 4,600 5,700 6,000 (5)% (8)% 16,500 16,600 (1)%
Tolled material (000 oz)(4) 151.3 143.4 154.8 179.5 164.5 (8)% 6% 449.5 494.2 (9)%
PGMs sales from production (000 oz)(1)(5) 933.5 1,206.2 838.2 1,285.2 1,361.0 (31)% (23)% 2,977.9 3,929.2 (24)%
Third party PGMs sales (000 oz)(1)(6) 403.4 256.0 400.9 272.9 160.1 152% 58% 1,060.3 497.7 113%
4E head grade (g/t milled)(7) 3.33 3.33 3.24 3.49 3.47 (4)% 0% 3.30 3.50 (6)%
(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) Ounces refer to troy ounces. 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
Q3 Q3 Q3 2022 Q2 Q3 2022 YTD YTD YTD 2022
Iron Ore (000 t) vs. vs. vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Iron Ore(1) 16,060 16,888 (5)% 14,374 12% 43,599 48,757 (11)%
Kumba(2) 9,977 10,789 (8)% 9,469 5% 27,738 31,161 (11)%
Minas-Rio(3) 6,083 6,100 0% 4,905 24% 15,861 17,596 (10)%
(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 decreased by 5% to 16.1 million tonnes, due to an 8% decrease at Kumba, while production at Minas-
Rio was flat.
Kumba - Total production decreased by 8% to 10.0 million tonnes, primarily driven by a decrease at Sishen of 6% to 7.1
million tonnes due to Eskom load-shedding (power outages), which had a 0.3 million tonne impact, and plant reliability.
Kolomela's production decreased by 11% to 2.9 million tonnes, due to the slow ramp-up following the safety intervention
in the second quarter.
Total sales were flat at 10.0 million tonnes(1), due to poor rail performance, offset by a drawdown of finished stock at the
Saldanha port. This has resulted in low finished stock levels at the port.
Kumba's iron (Fe) content averaged 63.9% (YTD 2021: 64.1%), while the average lump:fines ratio was 66:34 (YTD 2021: 69:31).
The year to date average realised price of $115/tonne(1) (FOB South Africa, wet basis), was 8% higher than the 62% Fe
benchmark price of $106/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 timing on provisionally priced sales volumes, as our
products are generally priced in the month after arrival (M+2).
Minas-Rio - Production was flat at 6.1 million tonnes.
The year to date average realised price of $114/tonne (FOB Brazil, wet basis) was lower than the Metal Bulletin 66 price
of $117/tonne (FOB Brazil, adjusted for freight and moisture), primarily due to timing on provisionally priced sales
volumes (our products are generally priced in the month after arrival (M+2)), which more than offset the premiums for our
high quality product, including higher (~67%) Fe content.
2022 Guidance
Production (wet basis) for 2022 is expected to be towards the lower end of the guidance range, which is unchanged at
60-64 million tonnes. Production for Kumba is expected to be towards the lower end of the 38-40 million tonnes
guidance range. Production guidance for Minas-Rio is also expected to be towards the lower end of the 22-24 million
tonnes guidance range. Both are subject to the extent of further Covid-19 related disruption and weather related
impacts, and Kumba is subject to third party rail and port performance, as well as the impact of Eskom load-shedding.
Unit cost guidance (wet basis) for 2022 is unchanged at c.$40/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.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Iron Ore (tonnes) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Iron Ore production(1) 16,060,000 14,373,900 13,164,900 15,050,800 16,888,100 (5)% 12% 43,598,800 48,756,800 (11)%
Iron Ore sales(1) 15,799,200 14,470,800 13,828,700 16,775,700 15,818,800 0% 9% 44,098,700 46,508,800 (5)%
Kumba production 9,977,300 9,468,800 8,292,000 9,701,300 10,788,600 (8)% 5% 27,738,100 31,160,900 (11)%
Lump 6,530,300 6,229,900 5,387,700 6,419,900 7,252,800 (10)% 5% 18,147,900 21,132,600 (14)%
Fines 3,447,000 3,238,900 2,904,300 3,281,400 3,535,800 (3)% 6% 9,590,200 10,028,300 (4)%
Kumba production by mine
Sishen 7,085,600 7,105,500 5,816,100 6,538,200 7,528,300 (6)% 0% 20,007,200 21,476,300 (7)%
Kolomela 2,891,700 2,363,300 2,475,900 3,163,100 3,260,300 (11)% 22% 7,730,900 9,684,600 (20)%
Kumba sales volumes(2) 9,982,000 10,302,700 9,332,000 10,690,300 9,965,700 0% (3)% 29,616,700 29,601,900 0%
Export iron ore(2) 9,982,000 10,302,700 9,332,000 10,690,300 9,965,700 0% (3)% 29,616,700 29,494,800 0%
Domestic iron ore - - - - - n/a n/a - 107,100 n/a
Minas-Rio production
Pellet feed (wet basis) 6,082,700 4,905,100 4,872,900 5,349,500 6,099,500 0% 24% 15,860,700 17,595,900 (10)%
Minas-Rio sales volumes
Export - pellet feed (wet basis) 5,817,200 4,168,100 4,496,700 6,085,400 5,853,100 (1)% 40% 14,482,000 16,906,900 (14)%
(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
Q3 Q3 Q3 2022 Q2 Q3 2022 YTD YTD YTD 2022
Steelmaking Coal(1) (000 t) vs. vs. vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Steelmaking Coal 5,510 4,289 28% 2,621 110% 10,357 10,536 (2)%
(1) Anglo American's attributable share of production. Includes production relating to processing of third party product.
All three underground longwall operations (Moranbah, Grosvenor and Aquila) were operating in Q3 2022 with the focus
on safety and increasing longwall performance through stability; however, Covid-19 related absenteeism, tight labour
markets and unseasonal wet weather at the open pits, continue to impact production.
Steelmaking coal production increased by 28% to 5.5 million tonnes, primarily due to the ramp-up of the Grosvenor
longwall operation following its restart in February 2022 and the new Aquila longwall operation which began operations
in February 2022. Aquila's production was more than offset by the planned end of production at the Grasstree operation
in January 2022.
The ratio of hard coking coal production to PCI/semi-soft coking coal was 83:17, in line with Q3 2021 (83:17).
The year to date average realised price for hard coking coal was $324/tonne, which was lower than the benchmark price
of $393/tonne. The price realisation was broadly flat at 82% (YTD 2021: 84%) as the contribution of premium hard
coking coal from the Grosvenor operation was offset by the end of production at Grasstree.
2022 Guidance
Production for 2022 is expected to be towards the lower end of the guidance range of 15-17 million tonnes, subject to
the extent of further unseasonal wet weather, continued tight labour markets and Covid-19 related disruptions.
Unit cost guidance for 2022 is unchanged at c.$110/tonne.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Coal, by product (tonnes)(1) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Production volumes
Steelmaking Coal(2) 5,510,200 2,620,600 2,226,400 4,372,100 4,288,500 28% 110% 10,357,200 10,535,600 (2)%
Hard coking coal(2) 4,562,200 2,125,600 1,753,000 2,922,400 3,567,400 28% 115% 8,440,800 8,398,100 1%
PCI / SSCC 948,000 495,000 473,400 1,449,700 721,100 31% 92% 1,916,400 2,137,500 (10)%
Export thermal coal 424,000 365,900 427,400 341,800 443,800 (4)% 16% 1,217,300 1,335,200 (9)%
Sales volumes
Steelmaking Coal(2) 5,245,100 2,776,100 2,429,700 4,182,400 3,985,800 32% 89% 10,450,900 9,954,400 5%
Hard coking coal(2) 4,289,200 2,096,600 1,812,000 2,793,500 3,293,600 30% 105% 8,197,800 8,001,900 2%
PCI / SSCC 955,900 679,500 617,700 1,388,900 692,200 38% 41% 2,253,100 1,952,500 15%
Export thermal coal 479,900 390,000 337,900 483,800 560,400 (14)% 23% 1,207,800 1,624,400 (26)%
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Steelmaking coal, by operation vs. vs. vs.
(tonnes)(1) 2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Steelmaking Coal(2) 5,510,200 2,620,600 2,226,400 4,372,100 4,288,500 28% 110% 10,357,200 10,535,600 (2)%
Moranbah(2) 1,522,900 209,700 172,800 1,084,300 1,314,700 16% 626% 1,905,400 1,966,400 (3)%
Grosvenor 1,277,400 856,300 125,200 52,100 19,500 n/a 49% 2,258,900 19,500 n/a
Aquila (incl. Capcoal)(2)(3) 1,149,400 527,100 746,400 1,588,700 1,503,500 (24)% 118% 2,422,900 4,404,200 (45)%
Dawson 741,300 317,400 444,900 654,100 659,200 12% 134% 1,503,600 1,829,600 (18)%
Jellinbah 819,200 710,100 737,100 802,200 791,600 3% 15% 2,266,400 2,315,900 (2)%
Other - - - 190,700 - n/a n/a - - n/a
(1) Anglo American's attributable share of production.
(2) Includes production relating to processing of third party product.
(3) Including production from the Aquila longwall operation from February 2022. Prior to then, including production from the Grasstree longwall operation.
Manganese
Q3 Q3 Q3 2022 Q2 Q3 2022 YTD YTD YTD 2022
Manganese (000 t) vs. vs. vs.
2022 2021 Q3 2021 2022 Q2 2022 2022 2021 YTD 2021
Manganese ore(1) 973 1,004 (3)% 980 (1)% 2,756 2,849 (3)%
(1) Saleable production.
Manganese ore production decreased by 3% to 973,300 tonnes, driven by Covid-19 related absenteeism and some
equipment reliability issues at the South African operations.
Q3 Q2 Q1 Q4 Q3 Q3 2022 Q3 2022 YTD YTD YTD 2022
Manganese (tonnes) vs. vs. vs.
2022 2022 2022 2021 2021 Q3 2021 Q2 2022 2022 2021 YTD 2021
Samancor production
Manganese ore(1) 973,300 979,600 803,500 834,600 1,003,600 (3)% (1)% 2,756,400 2,848,600 (3)%
Samancor sales volumes
Manganese ore 834,400 960,200 846,900 940,200 947,200 (12)% (13)% 2,641,500 2,805,600 (6)%
(1) Saleable production.
Exploration and evaluation
Exploration and evaluation expenditure increased by 21% to $87 million. Exploration expenditure increased by 8% to $40
million, principally in platinum group metals and base metals, generally reflecting increased access following the
recovery from previous Covid-19 disruptions. Evaluation expenditure increased by 34% to $47 million, driven by higher
spend in base metals and iron ore.
Corporate and other activities
Due to the previously announced delay in the Polokwane smelter rebuild at PGMs, which impacts refined production,
there will be a build-up in work-in-progress inventory.
Working capital will also increase at Quellaveco (Copper Peru) reflecting the ongoing ramp-up.
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/2022
Notes
- This Production Report for the quarter ended 30 September 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
South Africa Michelle Jarman
Nevashnee Naicker michelle.jarman@angloamerican.com
nevashnee.naicker@angloamerican.com Tel: +44 (0)20 7968 1494
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, 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, 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, political
uncertainty, tensions and disputes and economic conditions in relevant areas of the world, evolving societal and
stakeholder requirements and expectations, shortages of skilled employees, 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 ...
