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AAL Anglo American Plc

2,097.50
-62.50 (-2.89%)
Last Updated: 14:58:21
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Anglo American Plc LSE:AAL London Ordinary Share GB00B1XZS820 ORD USD0.54945
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -62.50 -2.89% 2,097.50 2,096.50 2,097.50 2,151.50 2,071.50 2,150.00 3,117,544 14:58:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 30.84B 283M 0.2116 98.61 27.91B

Anglo American PLC Q3 2019 Production Report (6203Q)

22/10/2019 7:00am

UK Regulatory


Anglo American (LSE:AAL)
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From Apr 2019 to Apr 2024

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TIDMAAL

RNS Number : 6203Q

Anglo American PLC

22 October 2019

Anglo American plc

Production Report for the third quarter ended 30 September 2019

Mark Cutifani, Chief Executive of Anglo American, said: "Production is up 4%(1) for the quarter, driven by the continued successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal. De Beers production is lower, as expected, with Victor mine now at the end of its life and the transition of Venetia to underground. We remain broadly on track to deliver within our full year production targets, with an increase in production guidance at Minas-Rio. We expect to deliver to our production guidance for Copper and Thermal Coal, albeit at the lower end of their ranges; with Copper working to mitigate the effect of drought conditions in central Chile."

Production summary

-- De Beers' diamond production decreased by 14% to 7.4 million carats due to planned mine closures and the underground transition at Venetia, and as we continue to produce to weaker market demand due to macro-economic uncertainty as well as continued midstream weakness.

-- Copper production decreased by 8% to 158,900 tonnes due to unprecedented drought conditions impacting Los Bronces in Chile.

-- Platinum and palladium production were broadly unchanged at 526,800 ounces and 351,800 ounces respectively.

-- Kumba's iron ore production was unchanged at 10.5 million tonnes as increased production at Sishen was offset by lower production at Kolomela due to a plant upgrade.

-- Minas-Rio's strong operational performance continued as iron ore production reached 6.1 million tonnes.

-- Metallurgical coal production increased by 22% to 6.6 million tonnes due to improved wash plant throughput and equipment efficiency, as well as timing of longwall moves.

 
                         Q3 2019   Q3 2018    % vs.     YTD 2019   YTD 2018     % vs. 
                                              Q3 2018                          YTD 2018 
 Diamonds (Mct)(3)         7.4       8.7      (14)%       23.0       26.2       (12)% 
                                                       --------- 
 Copper (kt)(4)            159       172       (8)%       479        485        (1)% 
                        --------  --------             ---------  --------- 
 Platinum (koz)(5)         527     530(2)      (1)%      1,519     1,535(2)     (1)% 
                        --------            ---------  ---------             ---------- 
 Palladium (koz)(5)        352     351(2)       0%       1,026     1,051(2)     (2)% 
                        --------            ---------  ---------             ---------- 
 Iron ore - Kumba 
  (Mt)                    10.5      10.5        0%        30.6       32.9       (7)% 
                        --------            ---------  ---------  --------- 
 Iron ore - Minas-Rio 
  (Mt)(6)                  6.1        -        n/a        17.0       3.2         n/a 
                        --------            ---------  ---------  --------- 
 Metallurgical coal 
  (Mt)                     6.6       5.4       22%        16.6       16.2        2% 
                        --------  --------             ---------  --------- 
 Thermal coal (Mt)(7)      6.3       7.7      (18)%       19.6       21.7       (10)% 
                                  --------  ---------  ---------  --------- 
 Nickel (kt)(8)           11.3      11.5       (2)%       30.9       30.9        0% 
                        --------            ---------  ---------  --------- 
 Manganese ore (kt)        910       888        3%       2,611      2,635       (1)% 
                        --------            ---------  ---------  --------- 
 
   (1)     Copper equivalent production is normalised to reflect closure of Voorspoed (De Beers) and Sibanye-Stillwater Rustenburg material that has transitioned to a tolling arrangement (Platinum Group Metals). Excluding the impact of Minas-Rio, Group copper equivalent production is down 2% in the quarter. 

(2) Normalised for the transition of Sibanye-Stillwater Rustenburg material from purchased concentrate to a tolling arrangement.

(3) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.

(4) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).

   (5)     Produced ounces of metal in concentrate. Reflects own mine production and purchases. 
   (6)     Wet basis. 

(7) Reflects export production from South Africa and attributable export production (33.3%) from Colombia.

(8) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).

http://www.rns-pdf.londonstockexchange.com/rns/6203Q_1-2019-10-21.pdf

DE BEERS

 
 De Beers(1) (000                          Q3 2019           Q3 2019                    YTD 2019 
  carats)                                   vs. Q3            vs. Q2                     vs. YTD 
                             Q3     Q3        2018     Q2       2019     YTD     YTD        2018 
                                        ----------         --------- 
                           2019   2018               2019               2019    2018 
                                 -----  -----  ---         -----              ------ 
 Botswana (Debswana)      5,699  5,699      0%      5,718      0%     17,367  17,786     (2)% 
 Namibia (Namdeb)           426    460     (7)%       335     27%      1,243   1,503    (17)% 
 South Africa               535  1,337    (60)%       571     (6)%     1,488   3,448    (57)% 
 Canada                     779  1,178    (34)%     1,075    (28)%     2,891   3,432    (16)% 
 Total carats recovered   7,439  8,674    (14)%     7,699     (3)%    22,989  26,169    (12)% 
------------------------  -----  -----  -----       -----  -----      ------  ------  ----- 
 

Rough diamond production decreased by 14% to 7.4 million carats due to planned reductions in South Africa and Canada. In addition, we continue to produce to weaker market demand due to macro-economic uncertainty as well as continued midstream weakness.

Botswana (Debswana) production was flat at 5.7 million carats. Orapa production increased by 22% due to a planned increase in the grade of material treated. This was offset by an 18% decrease at Jwaneng due to planned lower grade.

Namibia (Namdeb) production decreased by 7% to 0.4 million carats, as the Elizabeth Bay land operations were placed on care and maintenance in Q4 2018.

South Africa production decreased by 60% to 0.5 million carats due to lower mined volumes at Venetia as it approaches the transition from open pit to underground. In addition, Voorspoed production ended in Q4 2018 when it was placed on care and maintenance in preparation for closure.

Canada production decreased by 34% to 0.8 million carats primarily due to the closure of Victor which reached the end of its life in Q2 2019.

Rough diamond sales amounted to 7.4 million carats (7.1 million carats on a consolidated basis)(2) from three sales cycles, which compares to 5.0 million carats of sales (4.6 million carats on a consolidated basis(2) from two sales cycles in Q3 2018. Rough sales volumes were therefore higher due to an additional sales cycle in the period compared with the previous year; however, overall demand for rough diamonds remains subdued as a result of challenges in the midstream with higher polished inventories and caution due to macro-economic uncertainty.

Full Year Guidance

Production guidance(1) is unchanged at 31 million carats, subject to trading conditions.

(1) De Beers Group production is on a 100% basis, except for the Gahcho Kué 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 Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).

 
 De Beers(1)                                                 Q3 2019      Q3 2019                       YTD 
                                                                 vs.          vs.                      2019 
                                                             Q2 2019      Q3 2018                       vs. 
                                                                                                        YTD 
                          Q3     Q2     Q1     Q4     Q3                              YTD     YTD      2018 
                                                          ----------  ----------- 
                        2019   2019   2019   2018   2018                             2019    2018 
                              -----  -----  -----  -----  -----  ---  ------  ---          ------ 
 Carats recovered 
  (000 carats) 
 100% basis (unless 
  stated) 
 Jwaneng               2,584  3,223  3,336  2,744  3,143    (20)%        (18)%      9,143   9,152     0% 
 Orapa(2)              3,115  2,495  2,614  3,602  2,556     25%          22%       8,224   8,634    (5)% 
 Botswana (Debswana)   5,699  5,718  5,950  6,346  5,699      0%           0%      17,367  17,786    (2)% 
 
 Debmarine Namibia       320    245    364    400    322     31%          (1)%        929   1,036   (10)% 
 Namdeb (land 
  operations)            106     90    119    105    138     18%         (23)%        314     467   (33)% 
 Namibia (Namdeb)        426    335    483    505    460     27%          (7)%      1,243   1,503   (17)% 
 
 Venetia                 535    571    382  1,141  1,178     (6)%        (55)%      1,488   3,108   (52)% 
 Voorspoed                 -      -      -     93    159         n/a          n/a       -     340       n/a 
 South Africa            535    571    382  1,234  1,337     (6)%        (60)%      1,488   3,448   (57)% 
 
 Gahcho Kué 
  (51% basis)            779    883    808    789    927    (12)%        (16)%      2,470   2,750   (10)% 
 Victor                    -    192    229    254    251         n/a          n/a     421     682   (38)% 
 Canada                  779  1,075  1,037  1,043  1,178    (28)%        (34)%      2,891   3,432   (16)% 
 Total carats 
  recovered            7,439  7,699  7,852  9,128  8,674     (3)%        (14)%     22,989  26,169   (12)% 
                       -----  -----  -----  -----  -----  -----       ------       ------  ------  ---- 
 Sales volumes 
 Total sales volume 
  (100)% (Mct)(3)        7.4    9.0    7.5    9.9    5.0    (18)%         48%        23.9    23.9     0% 
 Consolidated 
  sales volume 
  (Mct)(3)               7.1    8.3    7.2    9.3    4.6    (14)%         54%        22.6    22.4     1% 
 Number of Sights 
  (sales cycles)           3      3      2      3      2                                8       7 
---------------------  -----  -----  -----  -----  -----  ----------  -----------  ------  ------  -------- 
 
 

(1) De Beers Group production is on a 100% basis, except for the Gahcho Kué 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 Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100% basis).

COPPER

 
 Copper(1) (tonnes)                        Q3 2019             Q3 2019                      YTD 2019 
                                            vs. Q3              vs. Q2                       vs. YTD 
                           Q3       Q3        2018       Q2       2019      YTD      YTD        2018 
                                        ----------           --------- 
                         2019     2018                 2019                2019     2018 
                               -------  -----  ---           -----               ------- 
 Los Bronces           80,400   95,800    (16)%      91,200    (12)%    263,300  270,600    (3)% 
 Collahuasi (44% 
  share)               64,500   61,500      5%       54,700     18%     176,500  176,800     0% 
 El Soldado            14,000   14,500     (3)%      13,200      6%      39,300   37,400     5% 
 Total Copper         158,900  171,800     (8)%     159,100      0%     479,100  484,800    (1)% 
--------------------  -------  -------  -----       -------  -----      -------  -------  ---- 
 

(1) Copper production shown on a contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).

Copper production decreased by 8% to 158,900 tonnes, due to a reduction at Los Bronces driven by unprecedented drought conditions in central Chile, partially offset by strong plant performance at Collahuasi.

Production from Los Bronces decreased by 16%, to 80,400 tonnes, with a 15% reduction in plant throughput due to lower water availability, partly offset by planned higher grades (0.78% vs. 0.76%). To date, 2019 has been the driest year of the longest drought ever recorded in central Chile.

At Collahuasi, attributable production increased by 5% to 64,500 tonnes, with planned lower grades (1.14% vs 1.33%) offset by strong plant performance.

Full year guidance

Production guidance is tightened to 630,000-650,000 tonnes (previously 630,000-660,000 tonnes) due to the severe drought, which also remains a risk for 2020 production.

 
 Copper(1)                                                                      Q3 2019   Q3 2019                              YTD 
                                                                                    vs.       vs.                             2019 
                                                                                Q2 2019   Q3 2018                              vs. 
                                                                                                                               YTD 
                           Q3          Q2          Q1          Q4          Q3                             YTD         YTD     2018 
                                                                               --------  -------- 
                         2019        2019        2019        2018        2018                            2019        2018 
                               ----------  ----------  ----------  ----------  ---  ---  ---  ---              ---------- 
 Los Bronces 
 mine(2) 
 Ore mined         15,560,400  17,302,500  15,678,600  12,675,800  13,019,000  (10)%      20%      48,541,500  46,531,600    4% 
 Ore processed 
  - Sulphide       10,977,200  11,813,600  12,070,800  12,669,900  13,089,300   (7)%     (16)%     34,861,600  37,913,100   (8)% 
 Ore grade 
  processed 
  - 
  Sulphide (% 
  TCu)(3)                0.78        0.81        0.80        0.81        0.76   (4)%       3%            0.80        0.74    8% 
 Production - 
  Copper cathode       10,100       9,300       9,600      10,200      10,300    9%       (2)%         29,000      28,800    1% 
 Production - 
  Copper in 
  concentrate          70,300      81,900      82,100      88,800      85,500  (14)%     (18)%        234,300     241,800   (3)% 
 Total production      80,400      91,200      91,700      99,000      95,800  (12)%     (16)%        263,300     270,600   (3)% 
                   ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ---------- 
 Collahuasi 100% 
  basis 
  (Anglo American 
  share 44)% 
 Ore mined         25,780,000  23,698,300  15,642,800  14,781,300  13,791,400    9%       87%      65,121,000  37,105,100   76% 
 Ore processed 
  - Sulphide       14,478,700  11,626,100  13,299,600  13,638,400  12,332,800   25%       17%      39,404,400  35,832,100   10% 
 Ore grade 
  processed 
  - 
  Sulphide (% 
  TCu)(3)                1.14        1.21        1.16        1.28        1.33   (5)%     (14)%           1.17        1.30  (10)% 
 Production - 
  copper in 
  concentrate         146,600     124,400     130,200     157,400     139,700   18%        5%         401,200     401,800    0% 
 Anglo American's 
  share of copper 
  production for 
  Collahuasi(4)        64,500      54,700      57,300      69,200      61,500   18%        5%         176,500     176,800    0% 
-----------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 El Soldado 
 mine(2) 
 Ore mined          3,299,900   3,017,800   3,089,000   3,233,900   3,361,000    9%       (2)%      9,406,700   8,379,300   12% 
 Ore processed 
  - Sulphide        1,911,700   1,861,900   1,809,900   1,951,600   2,036,000    3%       (6)%      5,583,500   5,646,600   (1)% 
 Ore grade 
  processed 
  - 
  Sulphide (% 
  TCu)(3)                0.92        0.92        0.84        0.94        0.87    0%        6%            0.90        0.82    9% 
 Production - 
  copper in 
  concentrate          14,000      13,200      12,100      15,300      14,500    6%       (3)%         39,300      37,400    5% 
                   ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Chagres 
 Smelter(2) 
 Ore smelted           28,800      32,100      30,300      30,900      37,700  (10)%     (24)%         91,200     111,700  (18)% 
 Production            28,000      31,200      29,500      30,100      36,900  (10)%     (24)%         88,700     109,100  (19)% 
-----------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Total copper 
  production(5)       158,900     159,100     161,100     183,500     171,800    0%       (8)%        479,100     484,800   (1)% 
 Total payable 
  copper 
  production          153,000     153,100     155,000     177,100     165,700    0%       (8)%        461,100     467,400   (1)% 
 Total sales 
  volumes             160,000     165,400     141,900     205,800     159,900   (3)%       0%         467,300     465,900    0% 
 Total payable 
  sales volumes       153,800     159,100     136,500     198,400     154,200   (3)%       0%         449,400     449,300    0% 
 Third party 
  sales(6)             91,600      88,800      53,400      50,400      51,800    3%       77%         233,800     123,300   90% 
-----------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 

(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)       Anglo American's share of Collahuasi production is 44%. 
   (5)       Total copper production includes Anglo American's 44% interest in Collahuasi. 
   (6)       Relates to sales of copper not produced by Anglo American operations. 

PLATINUM GROUP METALS (PGMs)

 
 Platinum (000 oz)(1)                           Q3 2019           Q3 2019                      YTD 2019 
                                                 vs. Q3            vs. Q2                       vs. YTD 
                                  Q3     Q3        2018     Q2       2019      YTD      YTD        2018 
                                             ----------         --------- 
                                2019   2018               2019                2019     2018 
                                      -----  -----  ---         -----               ------- 
 Metal in concentrate 
  production(2)                526.8  529.5     (1)%     520.3      1%     1,519.0  1,535.1    (1)% 
 Own mined(3)                  351.7  332.9      6%      342.8      3%     1,016.4  1,016.1     0% 
 Purchase of concentrate 
  (POC)(2)(4)                  175.1  196.6    (11)%     177.5     (1)%      502.6    519.0    (3)% 
 POC now under tolling 
  arrangement(5)                   -  119.5         n/a      -        n/a        -    347.3         n/a 
-----------------------------  -----  -----  ----------  -----  ---------  -------  -------  ---------- 
 Palladium (000 oz)(1) 
-----------------------------                                   --------- 
 Metal in concentrate 
  production(2)                351.8  351.4      0%      347.2      1%     1,025.5  1,050.5    (2)% 
 Own mined(3)                  262.7  250.2      5%      260.5      1%       774.1    778.7    (1)% 
 Purchase of concentrate 
  (POC)(2)(4)                   89.0  101.2    (12)%      86.7      3%       251.4    271.8    (8)% 
 POC now under tolling 
  arrangement(5)                   -   59.4         n/a      -        n/a        -    173.7         n/a 
-----------------------------  -----  -----  ----------  -----  ---------  -------  -------  ---------- 
 Refined production 
                                                                --------- 
   Platinum      000 oz(1)(6)  578.6  556.2      4%      590.9     (2)%    1,581.2  1,631.5    (3)% 
   Palladium     000 oz(1)(6)  362.1  321.5     13%      428.2    (15)%    1,083.9  1,008.0     8% 
   Rhodium       000 oz(1)(6)   66.5   65.2      2%       84.1    (21)%      202.6    201.5     1% 
   Gold          000 oz(1)(6)   27.9   27.4      2%       21.3     31%        73.2     77.6    (6)% 
   Nickel                t(6)  6,800  5,600     21%      5,600     21%      16,600   16,400     1% 
   Copper                t(6)  3,400  2,900     17%      3,500     (3)%     10,100   10,100     0% 
 Tolled material 
   Platinum         000 oz(1)  100.9      -         n/a   97.9      3%       198.8        -         n/a 
   Palladium        000 oz(1)   51.3      -         n/a   49.1      4%       100.4        -         n/a 
-------------  --------------  -----  -----  ----------  -----  -----      -------  -------  ---------- 
 
   (1)     Ounces refer to troy ounces. 
   (2)     Excluding purchase of concentrate volumes now treated under tolling arrangement. 
   (3)     Includes managed operations and 50% of joint venture production. 

(4) Includes 50% of joint venture production, and the purchase of concentrate from associates (BRPM prior to its disposal) and third parties.

   (5)     Comparative periods include purchase of concentrate volumes now under tolling arrangement. 

(6) Refined production excludes toll material but includes in comparative periods material now transitioned to tolling.

Metal in concentrate production

Platinum production decreased by 1% to 526,800 ounces while palladium production was flat at 351,800 ounces.

Own mined platinum production increased by 6% to 351,700 ounces and palladium production increased by 5% to 262,700 ounces due to the inclusion of 100% of Mototolo volumes following the acquisition of the remaining 50% of the asset in November 2018. Increased production from Mogalakwena due to higher throughput and grade was partially offset by decreased production at Amandelbult due to maintenance at the concentrators.

Purchase of platinum in concentrate decreased by 11% to 175,100 ounces and of palladium decreased by 12% to 89,000 ounces due to lower purchases from joint ventures, as Mototolo became 100% owned in November 2018.

Refined production and sales volumes

Refined platinum production(1) increased by 4% to 578,600 ounces and refined palladium production(1) increased by 13% to 362,100 ounces. Q3 2018 volumes were negatively impacted by Mortimer smelter ramping up from its full rebuild and repairs at Polokwane smelter (35-day shutdown).

Platinum sales volumes(1) increased by 1% to 537,400 ounces and palladium sales volumes(1) decreased by 2% to 316,900. Sales volumes were lower than refined production due to maintenance work at the Waterval smelter.

Full Year Guidance

Production guidance (metal in concentrate) is unchanged at 2.0-2.1 million ounces of platinum and 1.3-1.4 million ounces of palladium.

   (1)     Does not include tolled volumes. 
 
 Platinum                                                Q3 2019      Q3 2019                        YTD 
                                                             vs.          vs.                       2019 
                                                         Q2 2019      Q3 2018                        vs. 
                                                                                                     YTD 
                      Q3     Q2     Q1     Q4     Q3                               YTD      YTD     2018 
                    2019   2019   2019   2018   2018                              2019     2018 
 Produced 
  platinum 
  (000 oz)(1)      526.8  520.3  471.9  485.4  529.5      1%          (1)%     1,519.0  1,535.1   (1)% 
 Own mined         351.7  342.8  321.9  307.5  332.9      3%           6%      1,016.4  1,016.1    0% 
 Mogalakwena       123.4  127.9  130.4  108.4  113.9     (4)%          8%        381.7    386.7   (1)% 
 Amandelbult       118.4  116.6   98.5   96.5  126.0      2%          (6)%       333.5    346.2   (4)% 
 Unki               23.7   23.1   19.3   22.0   22.4      3%           6%         66.1     63.9    3% 
 Mototolo(2)        31.4   23.0   26.8   17.5      -     37%              n/a     81.2        -      n/a 
 Joint 
  ventures(2)       54.8   52.2   46.9   63.1   70.6      5%         (22)%       153.9    207.7  (26)% 
 Union                 -      -      -      -      -         n/a          n/a        -     11.6      n/a 
 Purchase of 
  concentrate(3)   175.1  177.5  150.0  177.9  196.6     (1)%        (11)%       502.6    519.0   (3)% 
 Joint 
  ventures(2)       54.8   52.2   46.9   63.1   70.6      5%         (22)%       153.9    207.7  (26)% 
 Associates(4)         -      -      -   46.9   66.7         n/a          n/a        -    173.3      n/a 
 Third parties(3)  120.3  125.3  103.1   67.9   59.3     (4)%        103%        348.7    138.0  153% 
 POC now under 
  tolling 
  arrangements(5)      -      -      -  116.9  119.5         n/a          n/a        -    347.3      n/a 
 Palladium 
 Produced 
  palladium 
  (000 oz)(1)      351.8  347.2  326.6  328.5  351.4      1%           0%      1,025.5  1,050.5   (2)% 
 Own mined         262.7  260.5  250.9  234.8  250.2      1%           5%        774.1    778.7   (1)% 
 Mogalakwena       130.8  139.5  141.5  118.2  127.1     (6)%          3%        411.8    422.7   (3)% 
 Amandelbult        54.3   53.7   44.9   44.9   57.3      1%          (5)%       152.9    160.2   (5)% 
 Unki               21.3   20.9   17.0   19.6   19.7      2%           8%         59.2     55.9    6% 
 Mototolo(2)        19.4   14.0   16.3   10.9      -     39%              n/a     49.7        -      n/a 
 Joint 
  ventures(2)       36.9   32.4   31.2   41.2   46.1     14%         (20)%       100.5    134.7  (25)% 
 Union                 -      -      -      -      -         n/a          n/a        -      5.2      n/a 
 Purchase of 
  concentrate(3)    89.0   86.7   75.7   93.7  101.2      3%         (12)%       251.4    271.8   (8)% 
 Joint 
  ventures(2)       36.9   32.4   31.2   41.2   46.1     14%         (20)%       100.5    134.7  (25)% 
 Associates(4)         -      -      -   19.3   27.2         n/a          n/a        -     70.9      n/a 
 Third parties(3)   52.1   54.3   44.5   33.2   27.9     (4)%         87%        150.9     66.2  128% 
 POC now under 
  tolling 
  arrangements(5)      -      -      -   58.1   59.4         n/a          n/a        -    173.7      n/a 
 Refined 
 production 
 Platinum (000 
  oz)(1)(6)        578.6  590.9  411.7  770.9  556.2     (2)%          4%      1,581.2  1,631.5   (3)% 
 Palladium (000 
  oz)(1)(6)        362.1  428.2  293.6  493.8  321.5    (15)%         13%      1,083.9  1,008.0    8% 
 Rhodium (000 
  oz)(1)(6)         66.5   84.1   52.0   91.3   65.2    (21)%          2%        202.6    201.5    1% 
 Gold (000 
  oz)(1)(6)         27.9   21.3   24.0   27.9   27.4     31%           2%         73.2     77.6   (6)% 
 Nickel 
  (tonnes)(6)      6,800  5,600  4,200  6,700  5,600     21%          21%       16,600   16,400    1% 
 Copper 
  (tonnes)(6)      3,400  3,500  3,200  4,200  2,900     (3)%         17%       10,100   10,100    0% 
 Tolled material 
 Platinum (000 
  oz)(1)           100.9   97.9      -      -      -      3%              n/a    198.8        -      n/a 
 Palladium (000 
  oz)(1)            51.3   49.1      -      -      -      4%              n/a    100.4        -      n/a 
 
 Platinum sales 
  volumes 
  (000 oz)(1)(7)   537.4  595.2  414.2  776.9  530.1    (10)%          1%      1,546.8  1,647.3   (6)% 
 
 Palladium sales 
  volumes 
  (000 oz)(1)(7)   316.9  475.9  292.1  455.3  324.3    (33)%         (2)%     1,084.9  1,057.8    3% 
 
 Platinum 3(rd) 
  party sales 
  volumes (000 
  oz)(1)(8)         17.5   13.0    5.0    1.5   26.9     35%         (35)%        35.5     92.5  (62)% 
 
 Palladium 3(rd) 
  party sales 
  volumes (000 
  oz)(1)(8)         79.7   81.0   58.7   16.5   55.0     (2)%         45%        219.4    108.0  103% 
 
 4E head grade 
  (g/t milled)(9)   3.65   3.55   3.58   3.38   3.58      3%           2%         3.60     3.51    3% 
-----------------  -----  -----  -----  -----  -----  -----       ------       -------  -------  --- 
 
   (1)     Ounces refer to troy ounces. 

(2) The joint venture 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'. Mototolo is 100% owned from 1 November 2018.

   (3)     Excluding purchase of concentrate volumes now treated under tolling arrangement. 
   (4)     33% interest in BRPM until its sale effective 11 December 2018. 
   (5)     Comparative periods include purchase of concentrate volumes now under tolling arrangement. 
   (6)     Refined production excludes tolled material. 

(7) Sales from own mined and purchased concentrate, excludes refined metal purchased from third parties.

   (8)     Relates to sales of metal not produced by Anglo American operations. 

(9) 4E: the grade measured as the combined content of: platinum, palladium, rhodium and gold, excludes tolled material.

IRON ORE

 
 Iron Ore (000                      Q3 2019            Q3 2019                     YTD 2019 
  t)                                 vs. Q3             vs. Q2                      vs. YTD 
                     Q3      Q3        2018      Q2       2019     YTD     YTD         2018 
                                 ----------          --------- 
                   2019    2018                2019               2019    2018 
                         ------  ---  -----          ---  ----          ------ 
 Kumba           10,521  10,508    0%        10,544    0%       30,582  32,936     (7)% 
 Minas-Rio(1)     6,126       -         n/a   5,916    4%       16,951   3,155          n/a 
---------------  ------  ------  ----------  ------  ---   ---  ------  ------  ----------- 
 
 
   (1)       Wet basis. 

Kumba - Total production volumes were broadly flat at 10.5 million tonnes, with increased production at Sishen offset by lower volumes from Kolomela.

Sishen's production increased by 2% to 7.2 million tonnes compared to Q3 2018 when production was reduced to manage stock levels arising from rail constraints.

Kolomela's production decreased by 3% to 3.4 million tonnes, as planned, due to an infrastructure upgrade at the DMS plant, which is scheduled to reopen in the fourth quarter.

Total sales decreased by 3% to 10.2 million tonnes, driven by domestic sales declining by 36% to 0.5 million tonnes due to lower customer off-take, while export sales were broadly flat at 9.7 million tonnes. Total finished stock increased to 5.1 million tonnes from 4.5 million tonnes at Q2 2019, as a result of the scheduled refurbishment of a ship loader.

In the third quarter, the ratio of lump to fines in the Kumba product was 66:34.

Minas-Rio - Production of 6.1 million tonnes was driven by continued strong operational performance and stability due to higher grade ore from the Step 3 mine area and productivity initiatives. The construction of the scheduled tailings dam raise was completed in August and approval for the conversion of the installation licence to an operating licence is expected by year-end.

Full Year Guidance

Production guidance for Kumba is unchanged at 42-43 million tonnes.

Minas-Rio production guidance for 2019 is increased to 20-22 million tonnes (previously 19-21 million tonnes) based on continued strong performance.

 
 Iron Ore                                                                   Q3 2019   Q3 2019                              YTD 
 (tonnes)                                                                       vs.       vs.                             2019 
                                                                            Q2 2019   Q3 2018                              vs. 
                                                                                                                           YTD 
                       Q3          Q2          Q1          Q4          Q3                             YTD         YTD     2018 
                     2019        2019        2019        2018        2018                            2019        2018 
 Kumba 
  production   10,521,300  10,544,000   9,516,300  10,170,200  10,508,400    0%        0%      30,581,600  32,935,500   (7)% 
 Lump           6,955,500   7,111,400   6,544,600   6,878,600   7,159,800   (2)%      (3)%     20,611,500  22,292,900   (8)% 
 Fines          3,565,800   3,432,600   2,971,700   3,291,600   3,348,600    4%        6%       9,970,100  10,642,600   (6)% 
-------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Kumba 
 production 
 by mine 
 Sishen         7,153,500   7,310,400   6,446,600   6,960,500   7,030,600   (2)%       2%      20,910,500  22,285,500   (6)% 
 Kolomela       3,367,800   3,233,600   3,069,700   3,209,700   3,477,800    4%       (3)%      9,671,100  10,650,000   (9)% 
 Kumba sales 
  volumes 
 Export iron 
  ore           9,670,200   9,755,600  10,130,600  10,723,200   9,736,700   (1)%      (1)%     29,556,400  29,242,500    1% 
 Domestic 
  iron 
  ore             483,600     716,300     748,000     868,200     755,600  (32)%     (36)%      1,947,900   2,422,900  (20)% 
-------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Minas-Rio 
 production 
 Pellet feed 
  (wet basis)   6,126,100   5,915,500   4,909,700     226,700           -    4%           n/a  16,951,300   3,155,200      n/a 
 Minas-Rio 
 sales 
 volumes 
 Export - 
  pellet 
  feed (wet 
  basis)        5,734,500   6,590,400   4,031,400           -           -  (13)%          n/a  16,356,300   3,216,800      n/a 
-------------  ----------  ----------  ----------  ----------  ----------  ---       --------  ----------  ----------  ------- 
 
 

COAL

 
 Coal(1) (000 t)                          Q3 2019           Q3 2019                     YTD 2019 
                                           vs. Q3            vs. Q2                      vs. YTD 
                            Q3     Q3        2018     Q2       2019     YTD     YTD         2018 
                                       ----------         --------- 
                          2019   2018               2019               2019    2018 
                                -----  -----  ---         ----  ---          ------ 
 Metallurgical Coal 
  (Australia)            6,569  5,382     22%      5,844    12%      16,569  16,183       2% 
 Export Thermal Coal 
  (Australia)              438    455     (4)%       245    79%       1,022     954       7% 
 Export Thermal Coal 
  (South Africa)(2)      4,288  5,054    (15)%     4,575    (6)%     13,280  13,822      (4)% 
 Export Thermal Coal 
  (Colombia)(3)          2,055  2,658    (23)%     2,017     2%       6,271   7,863     (20)% 
 Domestic Thermal Coal 
  (South Africa)         2,621  2,650     (1)%     2,624     0%       7,535  10,400     (28)% 
-----------------------  -----  -----  -----       -----  ----       ------  ------  ------ 
 
   (1)       Anglo American's attributable share of production. 

(2) Includes export primary production, secondary production sold into export markets and production sold domestically at export parity pricing.

   (3)       Anglo American's attributable share of Cerrejón production is 33.3%. 

Metallurgical Coal - Export metallurgical coal production increased by 22% to 6.6 million tonnes due to improvements in wash plant throughput and equipment productivity as well as the timing of longwall moves, with a move at Moranbah in Q3 2018. No significant impact on production is expected from longwall moves in the fourth quarter.

In the third quarter, the ratio of hard coking coal production to PCI/semi-soft coking coal was 85:15.

Thermal Coal South Africa - Export thermal coal production decreased by 15% to 4.3 million tonnes, with planned decreases in production as certain sections near their end of life.

Thermal Coal Colombia - Attributable export thermal coal production from Cerrejón decreased by 23% to 2.1 million tonnes due to weather related impacts (dust management and rain) and weak market conditions.

Full Year Guidance

Production guidance for metallurgical coal is unchanged at 22-24 million tonnes.

Production guidance for export thermal coal is tightened to 26 million tonnes (previously 26-28 million tonnes) due to lower than expected production from Cerrejón.

 
 Coal, by                                                                     Q3 2019   Q3 2019                              YTD 
 product                                                                          vs.       vs.                             2019 
 (tonnes)(1)                                                                  Q2 2019   Q3 2018                              vs. 
                                                                                                                             YTD 
                         Q3          Q2          Q1          Q4          Q3                             YTD         YTD     2018 
                                                                             --------  -------- 
                       2019        2019        2019        2018        2018                            2019        2018 
                             ----------  ----------  ----------  ----------  ---  ---  ---  ---              ---------- 
 Metallurgical 
  Coal 
  (Australia)     6,568,900   5,843,500   4,156,200   5,647,100   5,382,300   12%       22%      16,568,600  16,183,300    2% 
 Hard Coking 
  Coal            5,615,900   4,958,600   3,265,100   4,864,600   4,545,800   13%       24%      13,839,600  13,933,800   (1)% 
 PCI / SSCC         953,000     884,900     891,100     782,500     836,500    8%       14%       2,729,000   2,249,500   21% 
---------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Thermal Coal     9,402,700   9,460,700   9,245,000  10,613,700  10,816,800   -1%      (13)%     28,108,300  33,038,400  (15)% 
 Export 
  (Australia)       437,900     245,200     338,500     427,600     455,100   79%       (4)%      1,021,600     953,700    7% 
 Export (South 
  Africa)(2)      4,288,400   4,575,000   4,417,000   4,537,100   5,054,400   (6)%     (15)%     13,280,300  13,821,500   (4)% 
 Export 
  (Colombia)(3)   2,055,100   2,016,900   2,199,300   2,356,500   2,657,600    2%      (23)%      6,271,300   7,863,400  (20)% 
 Domestic 
  (South 
  Africa)         2,621,300   2,623,600   2,290,200   3,292,500   2,649,700    0%       (1)%      7,535,100  10,399,800  (28)% 
 Total coal 
  production     15,971,600  15,304,200  13,401,200  16,260,800  16,199,100    4%       (1)%     44,676,900  49,221,700   (9)% 
                 ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Sales volumes 
 Metallurgical 
  Coal 
  (Australia)     6,371,500   5,987,300   3,921,700   5,812,700   5,442,800    6%       17%      16,280,500  16,170,200    1% 
 Hard Coking 
  Coal            5,737,800   4,944,300   3,290,600   5,064,200   4,834,100   16%       19%      13,972,700  14,122,500   (1)% 
 PCI / SSCC         633,700   1,043,000     631,100     748,500     608,700  (39)%       4%       2,307,800   2,047,700   13% 
---------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 Thermal Coal    12,166,100  12,046,300  12,265,900  13,700,800  11,782,900    1%        3%      36,478,500  38,914,800   (6)% 
 Export 
  (Australia)       584,600     270,900     451,200     582,200     331,600  116%       76%       1,306,800     983,100   33% 
 Export (South 
  Africa)(2)      4,073,300   4,932,400   4,262,800   5,918,700   3,679,600  (17)%      11%      13,268,500  12,387,900    7% 
 Export 
  (Colombia)(3)   2,068,600   2,244,800   2,199,600   2,297,200   2,589,100   (8)%     (20)%      6,513,000   7,832,200  (17)% 
 Domestic 
  (South 
  Africa)         3,175,200   2,016,700   2,402,800   1,947,500   3,305,800   57%       (4)%      7,594,700  11,163,300  (32)% 
 Third party 
  sales           2,264,400   2,581,500   2,949,500   2,955,200   1,876,800  (12)%      21%       7,795,500   6,548,300   19% 
---------------  ----------  ----------  ----------  ----------  ----------  ---       ---       ----------  ----------  --- 
 
   (1)    Anglo American's attributable share of production. 

(2) Includes export primary production, secondary production sold into export markets and production sold domestically at export parity pricing.

   (3)    Anglo American's attributable share of Cerrejón production is 33.3%. 
 
 Coal, by operation                                                                Q3 2019     Q3 2019                              YTD 
  (tonnes)(1)                                                                         vs.        vs.                                2019 
                                                                                    Q2 2019    Q3 2018                              vs. 
                                                                                                                                    YTD 
                          Q3          Q2          Q1          Q4          Q3                                 YTD         YTD        2018 
                                                                                  ---------  ---------- 
                         2019        2019        2019        2018        2018                               2019        2018 
                                  ----------  ----------  ----------  ----------  ----  ---  -----  ---              ---------- 
 Metallurgical 
  Coal (Australia)     6,568,900   5,843,500   4,156,200   5,647,100   5,382,300    12%         22%      16,568,600  16,183,300     2% 
 Moranbah North        1,973,100   1,603,200     239,500   2,485,200   1,275,800    23%         55%       3,815,800   4,276,800   (11)% 
 Grosvenor             1,344,500   1,032,500   1,333,200     356,100   1,239,800    30%          8%       3,710,200   3,407,400     9% 
 Capcoal (incl. 
  Grasstree)           1,709,200   1,738,900   1,213,600   1,357,800   1,564,700    (2)%         9%       4,661,700   4,284,900     9% 
 Dawson                  703,200     774,000     633,300     666,100     478,700    (9)%        47%       2,110,500   1,727,300    22% 
 Jellinbah               838,900     694,900     736,600     781,900     823,300    21%          2%       2,270,400   2,486,900    (9)% 
 Thermal Coal 
  (Australia)            437,900     245,200     338,500     427,600     455,100    79%         (4)%      1,021,600     953,700     7% 
 Capcoal                  81,300      63,700      64,000      81,000      71,600    28%         14%         209,000     203,100     3% 
 Dawson                  323,200     145,200     263,300     320,500     357,700   123%        (10)%        731,700     665,600    10% 
 Jellinbah                33,400      36,300      11,200      26,100      25,800    (8)%        29%          80,900      85,000    (5)% 
--------------------  ----------  ----------  ----------  ----------  ----------  ----       -----       ----------  ----------  ---- 
 Total Australia 
  production           7,006,800   6,088,700   4,494,700   6,074,700   5,837,400    15%         20%      17,590,200  17,137,000     3% 
                      ----------  ----------  ----------  ----------  ----------  ----       -----       ----------  ----------  ---- 
 Thermal (South 
  Africa)(2) 
 Goedehoop             1,441,100   1,678,500   1,457,700   1,590,700   1,527,000   (14)%        (6)%      4,577,300   3,850,800    19% 
 Greenside             1,237,200   1,186,700     993,300   1,202,300   1,264,300     4%         (2)%      3,417,200   3,249,400     5% 
 Zibulo                1,294,100   1,394,600   1,319,600   1,681,500   1,468,700    (7)%       (12)%      4,008,300   4,695,300   (15)% 
 Khwezela              1,433,400   1,463,300   1,333,800   1,522,000   1,468,800    (2)%        (2)%      4,230,500   4,010,000     5% 
 Mafube                  450,600     443,900     431,800     464,200     402,700     2%         12%       1,326,300     680,500    95% 
 Other(3)                      -           -           -           -     604,100        n/a         n/a           -   1,680,700       n/a 
 Eskom-tied                    -           -           -           -           -        n/a         n/a           -   2,825,500       n/a 
 operations(4) 
 Isibonelo             1,053,300   1,031,600   1,171,000   1,368,900     968,500     2%          9%       3,255,800   3,229,000     1% 
--------------------  ----------  ----------  ----------  ----------  ----------  ----       -----       ----------  ----------  ---- 
 Total South 
  Africa production    6,909,700   7,198,600   6,707,200   7,829,600   7,704,100    (4)%       (10)%     20,815,400  24,221,300   (14)% 
 Colombia 
  (Cerrejón)(5)   2,055,100   2,016,900   2,199,300   2,356,500   2,657,600     2%        (23)%      6,271,300   7,863,400   (20)% 
                      ----------  ----------  ----------  ----------  ----------  ----       -----       ----------  ----------  ---- 
 Total Coal 
  production          15,971,600  15,304,200  13,401,200  16,260,800  16,199,100     4%         (1)%     44,676,900  49,221,700    (9)% 
--------------------  ----------  ----------  ----------  ----------  ----------  ----       -----       ----------  ----------  ---- 
 
 
   (1)    Anglo American's attributable share of production. 

(2) Export and domestic production; the Eskom-tied operations and Isibonelo produce exclusively domestic volumes.

   (3)     Other production comes from the recovery of saleable product from mineral residue deposits. 
   (4)     The sale of the Eskom-tied operations was completed on 1 March 2018. 
   (5)    Anglo American's attributable share of Cerrejón production is 33.3%. 

NICKEL

 
 Nickel (tonnes)                      Q3 2019          Q3 2019                       YTD 2019 
                                       vs. Q3           vs. Q2                        vs. YTD 
                       Q3      Q3        2018      Q2     2019      YTD      YTD         2018 
                                   ----------          ------- 
                     2019    2018                2019              2019     2018 
                           ------  ----  ----          -------           ------- 
 Nickel            11,300  11,500    (2)%       9,800    15%     30,900   30,900    0% 
-----------------  ------  ------  ----        ------  -------  -------  -------  --- ----- 
 
 

Nickel production decreased by 2% due to the timing of annual planned maintenance of one of the two lines at the plant.

Full Year Guidance

Production guidance is unchanged at 42,000-44,000 tonnes.

 
 Nickel                                                                Q3 2019      Q3 2019                             YTD 
                                                                           vs.          vs.                            2019 
                                                                       Q2 2019      Q3 2018                             vs. 
                                                                                                                        YTD 
                        Q3         Q2       Q1       Q4         Q3                                 YTD        YTD      2018 
                                                                    ----------  ----------- 
                      2019       2019     2019     2018       2018                                2019       2018 
                            ---------  -------  -------  ---------  -----  ---  ------  ---             --------- 
 Barro Alto 
 Ore mined       1,198,800  1,365,400  888,000  816,500  1,640,400    (12)%        (27)%     3,452,300  3,850,700   (10)% 
 Ore processed     612,000    519,000  525,400  607,300    620,900     18%          (1)%     1,656,500  1,656,800     0% 
 Ore grade 
  processed 
  - %Ni               1.66       1.67     1.67     1.74       1.73     (1)%         (4)%          1.68       1.69    (1)% 
 Production          9,200      7,600    7,700    9,100      9,400     21%          (2)%        24,400     24,500     0% 
---------------  ---------  ---------  -------  -------  ---------  -----       ------       ---------  ---------  ---- 
 Codemin 
 Ore mined           1,300     39,000        -    8,400          -    (97)%             n/a     40,300          -       n/a 
 Ore processed     140,200    148,900  139,900  150,600    139,100     (6)%          1%        429,000    430,900     0% 
 Ore grade 
  processed 
  - %Ni               1.69       1.62     1.62     1.68       1.69      4%           0%           1.63       1.65    (1)% 
 Production          2,100      2,300    2,100    2,300      2,100     (9)%          0%          6,500      6,400     2% 
 Total Nickel 
  production(1)     11,300      9,800    9,800   11,400     11,500     15%          (2)%        30,900     30,900     0% 
                 ---------  ---------  -------  -------  ---------  -----       ------       ---------  ---------  ---- 
 Sales volumes      10,600      8,800    9,800   12,600     10,400     20%           2%         29,200     30,500    (4)% 
---------------  ---------  ---------  -------  -------  ---------  -----       ------       ---------  ---------  ---- 
 
 
   (1)     Excludes nickel production from the PGMs business unit. 

MANGANESE

 
 Manganese (000                            Q3 2019          Q3 2019                   YTD 2019 
  t)                                        vs. Q3           vs. Q2                    vs. YTD 
                             Q3     Q3        2018    Q2       2019    YTD    YTD         2018 
                                        ----------        --------- 
                           2019   2018              2019              2019   2018 
                                 -----  -----  ---        -----             ----- 
 Manganese ore(1)           910    888      3%       826     10%     2,611  2,635      (1)% 
 Manganese alloys(1)(2)      29     35    (16)%       41    (29)%      106    119     (11)% 
------------------------  -----  -----  -----       ----  -----      -----  -----  ------ 
 
   (1)    Saleable production. 
   (2)    Production includes medium carbon ferro-manganese. 

Manganese ore production increased by 3% to 910,400 tonnes, with higher production from South Africa being offset by a later wet season impacting Australian production.

Manganese alloy production decreased by 16% to 29,200 tonnes as a result of an outage of a furnace for all of the third quarter.

 
 Manganese                                                        Q3 2019      Q3 2019                             YTD 
 (tonnes)                                                             vs.          vs.                            2019 
                                                                  Q2 2019      Q3 2018                             vs. 
                                                                                                                   YTD 
                      Q3       Q2       Q1       Q4       Q3                                  YTD        YTD      2018 
                                                              -----------  ----------- 
                    2019     2019     2019     2018     2018                                 2019       2018 
                          -------  -------  -------  -------  ------  ---  ------  ---             --------- 
 Samancor 
 Manganese 
  ore(1)         910,400  826,100  874,000  971,900  887,600      10%           3%      2,610,500  2,634,600    (1)% 
 Manganese 
  alloys(1)(2)    29,200   41,200   35,200   38,000   34,800     (29)%        (16)%       105,600    118,800   (11)% 
---------------  -------  -------  -------  -------  -------  ------       ------       ---------  ---------  ---- 
 Samancor sales 
  volumes 
 Manganese ore   897,800  958,400  843,400  959,800  840,400      (6)%          7%      2,699,600  2,574,700     5% 
 Manganese 
  alloys          30,400   44,800   30,100   44,000   30,400     (32)%          0%        105,300    117,100   (10)% 
---------------  -------  -------  -------  -------  -------  ------       ------       ---------  ---------  ---- 
 
   (1)    Saleable production. 
   (2)    Production includes medium carbon ferro-manganese. 

EXPLORATION AND EVALUATION

Exploration and evaluation expenditure decreased by 8% to $68 million. Exploration expenditure decreased by 19% to $29 million driven by decreased activities in De Beers and PGMs. Evaluation expenditure increased by 3% to $39 million driven by increased spend in De Beers and Metallurgical Coal, offset by lower spend at Los Bronces (Copper).

CORPORATE ACTIVITY AND OTHER ITEMS

Diamond inventory has continued to build during the third quarter due to the subdued market conditions; the elevated inventory levels are not expected to unwind until 2020.

NOTES

   --     This Production Report for the quarter ended 30 September 2019 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 14 for information on forward-looking statements. 

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                         Robert Greenberg 
  marcelo.esquivel@angloamerican.com       robert.greenberg@angloamerican.com 
  Tel: +44 (0)20 7968 8891                 Tel: +44 (0)20 7968 2124 
 
  South Africa                             Emma Waterworth 
  Pranill Ramchander                       emma.waterworth@angloamerican.com 
  pranill.ramchander@angloamerican.com     Tel: +44 (0)20 7968 8574 
  Tel: +27 (0)11 638 2592 
 
  Sibusiso Tshabalala 
  sibusiso.tshabalala@angloamerican.com 
  Tel: +27 (0)11 638 2175 
 

Forward-looking statements:

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 (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserves and Mineral Resources), 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 development capabilities, recovery rates and other operational capabilities, the availability of mining and processing equipment, the ability to produce and transport products profitably, the availability of transportation infrastructure, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as permitting 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 "Takeover Code"), 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, though these 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 third party information.

Notes to editors:

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world and that meet the fast growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world - safely, responsibly and sustainably.

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

www.angloamerican.com

Legal Entity Identifier: 549300S9XF92D1X8ME43

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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