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Anglo American Fact Book 2005/6 Contents Anglo American plc 1 Worldwide operations/Our businesses 2 Structure 4 Strategy/Sustainable development 5 Company ownership levels 6 Through history 8 Financial highlights 9 Financial data 10 Commodity and exchange rate history 11 Conversion tables 12 Anglo Platinum 13 Anglo Base Metals 47 Business overview 14 Business/Industry overview 48 Industry overview 15 Uses of base metals 49 Platinum group metals market 16 Strategy/Technological innovation 50 Around the world 17 Around the world 51 Through history 18 Through history 52 Financial highlights 19 Financial highlights 53 Financial data 20 Financial data 54 Production data 21 Production data 55 Reserves and resources data 24 Reserves and resources data 56 Project pipeline 27 Project pipeline 63 Market information 29 Market information 65 Operations diagram 30 Operations diagram 66 Diamonds 31 Anglo Coal 67 Business/Industry overview 32 Industry overview 68 Supplier of choice/The four Cs 33 Markets 69 Exploration 34 Strategy 70 Around the world 35 Around the world 71 Through history 36 Through history 72 Financial highlights 37 Financial highlights 73 Financial data 38 Financial data 74 Diamonds recovered 39 Production data 75 Diamonds grade 40 Reserves and resources data 76 Project pipeline 41 Project pipeline 80 Market information 44 Market information 81 Operations diagram 45 Operations diagram 82 Anglo Ferrous Metals and Industries 85 AngloGold Ashanti 117 Leading asset base/Products and applications 86 Business overview/Industry overview 118 Business overview 87 Gold production process/Exploration 119 Strategy 88 Strategy 120 Around the world 89 Around the world 121 Through history 90 Through history 122 Financial highlights 91 Financial highlights 123 Financial data 92 Financial data 124 Production data 93 Production data 125 Reserves and resources data 94 Reserves and resources data 127 Project pipeline 102 Project pipeline 129 Market information 103 Market information 131 Operations diagram 104 Operations diagram 132 Anglo Industrial Minerals 105 Anglo Paper and Packaging 133 Business overview/Products 106 Industry overview 134 Market structure 107 Production processes 135 Strategy 108 Through history 136 Around the world 109 Financial highlights 137 Through history 110 Financial data 138 Financial highlights 111 Production data 139 Financial data 112 Operations diagram 140 Production and reserve data 113 Market information 114 Operations diagram 116 Anglo American plc: creating long term shareholder value Worldwide operations ● Platinum ● Gold ● Diamonds ● Base Metals ● Ferrous Metals ● Coal ● Industrial Minerals ● Paper and Packaging ■ Countries with current exploration projects Our businesses Platinum Diamonds Base Metals Business profile Business profile Business profile ● The world’s largest primary ● De Beers accounts for about ● Comprises primarily copper, nickel, producer of platinum, accounting 45% by value of global rough zinc and mineral sands operations. for 37% of the world’s newly diamond production. ● Operates in South America, mined platinum output. ● The world’s largest supplier and southern Africa and Ireland. Products and uses marketer of gem diamonds. Products and uses ● Primarily used in autocatalysts Products and uses ● Copper is used mainly in wire and and jewellery. ● The majority of cuttable cable, as well as in brass, tubing ● Also used in chemical, electrical, diamonds are used in jewellery. and pipes. glass and petroleum industries ● Some natural stones are used ● Zinc is chiefly used for galvanising. and medical applications. for industrial purposes such as ● Nickel is mostly used in the cutting and other applications. production of stainless steel. Coal Ferrous Metals Industrial Minerals Business profile Business profile Business profile ● Anglo Coal is one of the world’s ● Operations are mainly in ● Tarmac is the No.1 UK producer largest private sector coal southern Africa, South America of aggregates and asphalt and producers and exporters. and Australia. a leading producer of ready- ● Its operations are in South Africa, ● Anglo American holds the major mixed concrete. Australia, Colombia and Venezuela. interest in Kumba, a significant ● Its operations are primarily in the Products and uses iron ore producer. UK, continental Europe and Brazil. ● About 40% of all electricity Products and uses Products and uses generated globally is powered ● Iron ore is the basic raw material ● Tarmac is involved in the by coal. used in steel production. production of crushed rock, sand, ● 70% of the world’s steel industry ● Manganese and vanadium are all gravel, concrete and mortar, lime, uses coal and it is an important important in steelmaking. cement and concrete products. fuel for other industries. ● Copebrás is a Brazilian producer of phosphate fertilisers. 2 | Anglo American plc Fact Book 2005/6 Gold Paper and Packaging Exploration Business profile Business profile As one of the major diversified mining groups, Anglo ● AngloGold Ashanti is one of the ● Mondi is an integrated paper and American’s exploration activities cover many parts of the world’s largest gold producers. packaging group. globe. In its constant search for minerals, Anglo American is ● It has 21 operations in ● It has operations and interests in currently prospecting in more than 30 countries. In addition to 10 countries. Europe, Russia, South Africa, its focus on areas surrounding its existing mining operations, Products and uses Asia and North America. Anglo American is now looking at relatively unexplored new ● Mainly used for fabrication and Products and uses frontiers, including in the Arctic region through an arc bullion investment. ● Mondi manufactures office stretching from Alaska to Kamchatka in Russia’s far east. ● Fabricated gold used in jewellery, papers, packaging papers, electronics, dentistry, decorations, board, converted packaging During 2005, $150 million was spent on exploration – $50 medals and coins. and newsprint. million on base metals, $21 million on platinum, $13 million on coal, $21 million on ferrous metals, while AngloGold Ashanti’s exploration expenditure, taking in 18 countries, totalled $45 million. Anglo American plc Fact Book 2005/6 | 3 Structure Anglo American is a global leader in mining focused on adding value for shareholders, customers, employees and the communities in which it operates. The Group owns a diversified range of high quality businesses covering platinum, gold, diamonds, coal, base and ferrous metals, industrial minerals, and paper and packaging, underpinned by considerable financial strength and technical expertise. Above: Kumba’s 75 year old Thabazimbi mine in South Africa’s Limpopo province produces around 2.7 million tonnes of iron ore annually. Anglo American plc Platinum Diamonds Base Metals Coal Ferrous Industrial Gold Paper and (74.8% of (45% of (100%) (100%) Metals Minerals (41.8% of Packaging Anglo Platinum) De Beers) (100%) (100%) AngloGold (100%) Ashanti) Underlying earnings by geography % 36 37 17 10 Europe South Africa Americas Rest of the world 4 | Anglo American plc Fact Book 2005/6 Strategy In October 2005 Anglo American The decision to reduce the Group’s business in the UK, Poland and, announced the outcome of its shareholding in AngloGold Ashanti in early 2006, in Romania. strategic review, which relates to the higher, relative represented a further chapter valuations investors attribute to Anglo American is also progressing in its ongoing strategic pure-play gold mining stocks, rather well with the remainder of its development over the past six than as part of the make-up of a industries portfolio. Boart Longyear years. Anglo American’s aim is diversified mining group. Anglo and Samancor Chrome were sold to further focus the Group on its American is considering a number in mid-2005 and the disposal of core mining portfolio and, in the of options to effect the reduction. its investment in Highveld Steel is process, simplify its structure progressing. In addition, Tongaat- and enhance returns and In the case of Tarmac, the Hulett has recently announced that shareholder value. In early 2006, considerably strengthened it intends to unbundle and list its Anglo American provided a management team is in the process aluminium business, Hulett further update on its strategy. of undertaking a review of its Aluminium, and simultaneously business with the aim of improving introduce black economic Regarding Anglo American’s returns on capital invested by turning empowerment equity participation investment in Mondi, one of the around, restructuring or divesting in both Tongaat-Hulett and Hulett largest and most successful paper underperforming parts of the Aluminium. and packaging groups in Europe, portfolio while continuing to grow it is clear there are only limited its core businesses. Since the year The Group has approved significant synergies with Anglo American’s end the first phase of the review platinum expansion projects and mining portfolio. The Group has has been completed, with negotiations for a further platinum therefore decided to list Mondi on the businesses in Germany and Hong black empowerment transaction London Stock Exchange in 2006/7. Kong identified for disposal as well have commenced. I In the meantime, Anglo American as the concrete paving business in will continue to support Mondi’s the UK. Tarmac has also made three growth opportunities as they arise. acquisitions in its aggregates Sustainable development In the face of climate change, reports being generated
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