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Q1 2020 Production Report
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23 April, 2020

Mark Cutifani, Chief Executive of Anglo American, said: “Our overwhelming priority is the safety of our people, their families and our host communities. We have taken extensive measures across our business to help safeguard against the spread of COVID-19, while also protecting the integrity of our assets to enable a swift return to normal levels of operation when appropriate. The onset of varying degrees of lockdown or distancing measures in a number of our operating countries towards the end of the quarter, combined with the impact of longwall moves in our Metallurgical Coal business, led to 4%(1) lower production compared to the same period of 2019, despite continued strong iron ore production at Minas-Rio.”

Q1 Highlights

  • Minas-Rio in Brazil continued its strong operational performance, with 6.4 million tonnes of premium grade iron ore production, reflecting P101 productivity improvements.
  • Continued strong performance from Collahuasi in Chile, with a 16% increase in copper production partly offsetting the expected impact of the ongoing water constraints at Los Bronces.
  • Metallurgical coal production decreased by 8% to 3.8 million tonnes due to the timing of longwall moves.
  • The start of a COVID-19 lockdown in South Africa had a limited impact of c.2% on Q1 production; however, refined PGMs production was significantly reduced by the announced convertor plant outage.
  • Completed $0.5 billion cash acquisition of Sirius Minerals Plc and its UK Woodsmith polyhalite project.

Production Summary

  Q1 2020 Q1 2019 % vs. Q1 2019
Diamonds (Mct)(2) 7.8 7.9 (1)%
Copper (kt)(3) 147 161 (9)%
Platinum (koz)(4) 441 472 (7)%
Palladium (koz)(4) 303 327 (7)%
Iron ore – Kumba (Mt) 9.4 9.5 (1)%
Iron ore – Minas-Rio (Mt)(5) 6.4 4.9 31%
Metallurgical coal (Mt) 3.8 4.2 (8)%
Thermal coal (Mt)(6) 6.2 6.6 (7)%
Nickel (Kt)(7) 10.9 9.8 11%
Manganese ore (kt) 843 874 (4)%

This Production Report for the first quarter ended 31 March 2020 is unaudited.

(1) Copper equivalent production is normalised to reflect closure of Victor (De Beers) and Sibanye-Stillwater Rustenburg material that has transitioned to a tolling arrangement (Platinum Group Metals).
(2) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis.
(3) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).
(4) Produced ounces of metal in concentrate. Reflects own mine production and purchases. Normalised for the transition of Sibanye-Stillwater Rustenburg material from purchased concentrate to a tolling arrangement.
(5) Wet basis.
(6) Reflects export production from South Africa and attributable export production (33.3%) from Colombia.
(7) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit).

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View Anglo American Q1 Production Tables (XLS, 710KB, opens in a new window)

For further information, please contact:

Media Investors
James Wyatt-Tilby Paul Galloway
Email: james.wyatt-tilby@angloamerican.com Email: paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
Email: marcelo.esquivel@angloamerican.com Email: robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
Katie Ryall Emma Waterworth
Email: katie.ryall@angloamerican.com Email: emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8935 Tel: +44 (0)20 7968 8574
South Africa  
Pranill Ramchander  
Email: pranill.ramchander@angloamerican.com  
Tel: +27 (0)11 638 2592  
Sibusiso Tshabalala  
Email: sibusiso.tshabalala@angloamerican.com  
Tel: +27 (0)11 638 2175  

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 (including development plans and objectives relating to Anglo American’s products, production forecasts and Ore Reserves and Mineral Resource estimates), 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 effects of global pandemics and outbreaks of infectious diseases, 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 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, greener, more sustainable 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 and nickel – 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.