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Anglo American Production Report for the Second Quarter Ended 30 June

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Anglo American Production Report for the Second Quarter Ended 30 June NEWS RELEASE 20 July 2017 Anglo American plc Production Report for the second quarter ended 30 June 2017 Anglo American reports an 8% increase in copper equivalent production in the second quarter of 2017, compared to the same period of 2016. For the half year as a whole, copper equivalent production increased by 9%. Mark Cutifani, Anglo American Chief Executive, said: “We have delivered another strong production quarter across most of our businesses. Through the improvements we have made to our portfolio and the efficiencies we are driving, we continue to unlock the potential of our world class assets. The production ramps at Gahcho Kué, Minas-Rio and Grosvenor are also contributing to these ongoing positive performance trends. We have increased the full year production guidance for Kumba Iron Ore and are on track to deliver full year guidance across the rest of our products.” Highlights At De Beers, the ramp-up of Gahcho Kué and stable trading conditions supported a 36% increase in rough diamond production. Copper production, while broadly unchanged, was impacted by the temporary mine stoppage at El Soldado, partially offset by higher production at Los Bronces. Platinum’s Mogalakwena mine production increased by 15% due to higher grades and increased throughput. Iron ore volumes from Sishen increased by 38% due to operational improvements. Metallurgical coal production from Australia was impacted by Cyclone Debbie, two longwall moves in Q2 and the ongoing geological issues at Grosvenor; improvements are expected in H2. Production Summary % vs. Q2 % vs. H1 Q2 2017 Q2 2016 H1 2017 H1 2016 2016 2016 Diamonds (Mct)(1) 8.7 6.4 36% 16.1 13.3 21% Copper (t)(2)(3) 140,800 144,200 (2)% 283,400 290,700 (3)% Platinum (produced ounces) (koz)(4) 617 586 5% 1,189 1,153 3% Iron ore – Kumba (Mt) 11.4 8.9 28% 21.9 17.8 23% Iron ore – Minas-Rio (Mt)(5) 4.3 3.5 24% 8.7 6.8 27% Export metallurgical coal (Mt) 4.0 4.9 (19)% 9.2 9.0 2% Export thermal coal (Mt)(6) 6.5 6.8 (4)% 13.4 13.2 1% Nickel (t)(7) 11,300 11,100 2% 21,200 22,300 (5)% (1) De Beers production on 100% basis except the Gahcho Kué joint venture which is on an attributable 51% basis; (2) Copper production from the Copper business unit; (3) Copper production shown on a contained metal basis; (4) Reflects own mine production and purchases of metal in concentrate; (5) Wet basis; (6) Export thermal coal includes export primary production from South Africa and Colombia, and excludes secondary South African production that may be sold into either the export or domestic markets; (7) Nickel production from the Nickel business unit; (8) Copper equivalent production is normalised for, Kimberley, Niobium & Phosphates, Foxleigh and Callide, and to reflect Snap Lake being placed on care and maintenance, and the closure of Drayton. WorldReginfo - 3e1a7386-fed2-4e0b-ad4b-e3c6bb1b14e7 DE BEERS Q2 2017 Q2 2017 H1 2017 Q2 Q2 Q1 H1 H1 Diamonds(1) vs. vs. vs. 2017 2016 2017 2017 2016 Q2 2016 Q1 2017 H1 2016 Debswana 000 carats 5,933 5,184 14% 5,191 14% 11,124 10,512 6% Namdeb 000 carats Holdings 391 296 32% 472 (17)% 863 740 17% DBCM 000 carats 1,405 821 71% 1,106 27% 2,511 1,753 43% De Beers 000 carats Canada 1,013 147 nm 631 61% 1,644 309 nm Total carats 000 carats recovered 8,742 6,448 36% 7,400 18% 16,142 13,314 21% De Beers – Rough diamond production increased by 36% to 8.7 million carats in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada. Debswana (Botswana) production increased by 14% to 5.9 million carats. Orapa’s production increased by 44% driven by the ramp-up of Plant 1 which was previously on partial care and maintenance in response to trading conditions in late 2015. This was marginally offset by Jwaneng where production decreased by 3%. Namdeb Holdings (Namibia) production increased by 32% to 0.4 million carats as a result of Debmarine Namibia’s Mafuta vessel being on planned extended in-port maintenance in Q2 2016. DBCM (South Africa) production increased by 71% to 1.4 million carats largely as a result of higher grades at Venetia. Production in Canada increased almost six-fold to 1.0 million carats due to the ramp-up of Gahcho Kué to nameplate capacity. Consolidated rough diamond sales volumes(2) in Q2 2017 were 5.4 million carats (5.9 million carats on a total 100% basis) from two Sights, compared with 9.6 million carats (10.2 million carats on a total 100% basis) from three Sights in Q2 2016. Apart from the additional Sight in Q2 2016, the decrease was expected given the strong levels of midstream restocking in H1 2016. For H1 2017, consolidated sales volumes(2) were 19.1 million carats (20.0 million carats on a total 100% basis), compared with 17.2 million carats (18.3 million carats on a total 100% basis) in H1 2016. The average realised price of $156/ct in H1 2017 was 12% lower than in H1 2016. This reflected strong demand in Sight 1 2017 for lower value goods held in stock at 31 December 2016, following a recovery from the initial impact of India’s demonetisation programme in late 2016. The lower value mix was partially offset by a higher average rough price index, up 4%. Full Year Guidance Full year production guidance(1) remains unchanged at 31-33 million carats, subject to trading conditions. (1) De Beers production is on a 100% basis, except for the Gahcho Kué joint venture which is on an attributable 51% basis. (2) Consolidated sales volume excludes De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana and the Namibia Diamond Trading Company, and includes pre-commercial production sales volumes from Gahcho Kué. 2 WorldReginfo - 3e1a7386-fed2-4e0b-ad4b-e3c6bb1b14e7 Q2 2017 Q2 2017 H1 2017 De Beers Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 vs. vs. H1 2017 H1 2016 vs. Q1 2017 Q2 2016 H1 2016 Carats recovered (000 carats) 100% basis (unless otherwise stated) Orapa 2,918 2,106 2,366 1,536 2,028 39% 44% 5,024 4,029 25% Letlhakane 102 130 135 176 159 (22)% (36)% 232 284 (18)% Jwaneng 2,913 2,955 2,939 2,837 2,997 (1)% (3)% 5,868 6,199 (5)% Debswana 5,933 5,191 5,440 4,549 5,184 14% 14% 11,124 10,512 6% Namdeb 72 94 118 120 94 (23)% (23)% 166 166 - Debmarine Namibia 319 378 310 285 202 (16)% 58% 697 574 21% Namdeb Holdings 391 472 428 405 296 (17)% 32% 863 740 17% Kimberley(1) - - - - - - - - 68 (100)% Venetia 1,239 939 1,218 898 695 32% 78% 2,178 1,401 55% Voorspoed 166 167 169 196 126 (1)% 32% 333 284 17% DBCM 1,405 1,106 1,387 1,094 821 27% 71% 2,511 1,753 43% Snap Lake(1) - - - - - - - - 3 (100)% Victor 182 189 148 142 147 (4)% 24% 371 306 21% Gahcho Kué 831 442 349 83 - 88% - 1,273 - - (51% basis) De Beers Canada 1,013 631 497 225 147 61% 589% 1,644 309 432% Total carats recovered 8,742 7,400 7,752 6,273 6,448 18% 36% 16,142 13,314 21% Sales volumes Total sales volume 5.9 14.1 8.0 5.7 10.2 (58)% (42)% 20.0 18.3 9% (100%) (Mct)(2) Consolidated sales volume 5.4 13.7 7.5 5.3 9.6 (61)% (44)% 19.1 17.2 11% (Mct)(2)(3) Number of Sights 2 3 3 2 3 5 5 (sales cycles) (1) Snap Lake was placed on care and maintenance from December 2015. Kimberley mines was sold in January 2016. (2) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume. (3) Consolidated sales volume includes pre-commercial production sales volumes from Gahcho Kué. Excluding Gahcho Kué’s capitalised pre-commercial production sales volumes results in a consolidated sales volume of 18.4Mct for H1 2017. 3 WorldReginfo - 3e1a7386-fed2-4e0b-ad4b-e3c6bb1b14e7 COPPER Q2 2017 Q2 2017 H1 2017 Q2 Q2 Q1 H1 H1 Copper(1) vs. vs. vs. 2017 2016 2017 2017 2016 Q2 2016 Q1 2017 H1 2016 Los Bronces t 79,000 75,600 4% 75,800 4% 154,800 160,800 (4)% Collahuasi (44% share) t 51,000 56,200 (9)% 57,700 (12)% 108,700 107,300 1% El Soldado t 10,800 12,400 (13)% 9,100 19% 19,900 22,600 (12)% Total Copper t 140,800 144,200 (2)% 142,600 (1)% 283,400 290,700 (3)% (1) Copper production shown on a contained metal basis. Copper production decreased by 2% to 140,800 tonnes. Production from Los Bronces increased by 4% to 79,000 tonnes. Production benefited from higher ore grades (0.70% vs. 0.62%) and strong plant performance, partly offset by an expected increase in ore hardness. At Collahuasi, attributable production decreased by 9% to 51,000 tonnes.
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