24 April 2014

Anglo American plc

Interim Management Statement for the first quarter ended 31 March 2014

Overview

Q1 2014

Q1 2013

% vs. Q1 2013

Iron ore (Mt)

11.3

10.3

+10%

Export metallurgical coal (Mt)

6.1

4.6

+31%

Export thermal coal (Mt)

7.9

6.9

+14%

Copper (t)        

202,000

170,500

+18%

Nickel (t)

9,200

6,200

+48%

Platinum (equivalent refined)(1) (koz)

357

583

(39)%

Diamonds (Mct)

7.5

6.4

+18%

·       Kumba Iron Ore production increased by 10% to 11.3 million tonnes, following solid performances at both Sishen and Kolomela. Q1 2013 was impacted by lower than planned production at Sishen following the unprotected strike in Q4 2012

·       Export metallurgical coal production increased by 31% to 6.1 million tonnes, a record quarter, primarily as a result of continuing productivity improvements

·       Export thermal coal production from South Africa increased by 6% to 4.1 million tonnes. Cerrejón's production increased by 95% reflecting the strike affected Q1 2013 period

·       Copper production(2) increased by 18% to 202,000 tonnes, with improved performance from Los Bronces and Collahuasi, primarily the result of higher ore grades. Production guidance for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes (previously 700,000 - 720,000 tonnes)

·       Nickel production(3) increased by 48% to 9,200 tonnes driven by improved operational stability at Barro Alto

·       Niobium production  was flat at 1,100 tonnes as higher recoveries were offset by lower ore grade

·       Phosphates concentrate production was flat at 347,900 tonnes. Fertiliser production decreased by 2% due to unplanned maintenance stoppage and throughput constraints

·       Platinum equivalent refined production decreased by 39% to 357,000 ounces as a result of the industrial action at Rustenburg, Amandelbult and Union mines in South Africa. As a consequence of the ongoing industrial action FY 2014 production guidance has been revised downwards to approximately 2.1 million ounces (previously 2.3 - 2.4 million ounces)

·       Diamond production increased by 18% to 7.5 million carats, largely due to the impact of planned plant maintenance at Orapa in Q1 2013 and recovery from the 2012 sidewall failure at Jwaneng

(1)              Equivalent refined is the mines' production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited's standard smelting  and refining recoveries

(2)              Copper production from the Copper business unit

(3)              Nickel production from the Nickel business unit



IRON ORE AND MANGANESE

Iron Ore and Manganese

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Iron ore

000 t

11,328

10,335

10%

11,286

0%

Manganese ore

000 t

692

803

(14)%

846

(18)%

Manganese alloys

000 t

65

57

13%

66

(2)%

Iron Ore - Production from Kumba Iron Ore increased by 10% to 11.3 million tonnes. Sishen production increased by 15% to 8.7 million tonnes due to increased plant throughput and the recovery from lower than expected production in Q1 2013 following the unprotected strike in Q4 2012. Implementation of the production recovery plan at Sishen continued during the quarter, although this was hampered by heavy rainfall that affected waste removal. Waste removal, however, increased by 3.4% compared to Q1 2013.

Kolomela mine produced 2.5 million tonnes, which is in line with the name plate capacity of 10 million tonnes.

Maintenance on a reclaimer at Kolomela, which suffered structural damage, affected export sales volumes resulting in a decrease of 5% to 9.4 million tonnes.

FY 2014 production guidance for Sishen and Kolomela mines remains unchanged at 44 - 46 million tonnes.

The Minas-Rio iron ore project in Brazil continued to progress in line with the target of achieving first ore on ship by the end of 2014 and with total capex unchanged at $8.8 billion. Activities at the beneficiation plant, pipeline, filtration plant and port continued as planned and the project was 88% completed at the end of Q1 2014.

Manganese ore - Production decreased by 14% to 692,200 tonnes, due to higher than usual rainfall in Australia, which impacted feed rates and yields, and planned maintenance in South Africa.

Manganese alloy - Production increased by 13% to 64,800 tonnes due to process optimisation at Temco in Australia and additional capacity from the M14 furnace at Metalloys in South Africa.



COAL

Coal

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Australia & Canada







Metallurgical - Export

000 t

6,053

4,615

31%

4,733

28%

Thermal - Export

000 t

769

1,494

(49)%

1,585

(51)%

Thermal - Domestic

000 t

1,228

1,073

14%

1,689

(27)%

South Africa







Thermal - Export

000 t

4,149

3,909

6%

4,602

(10)%

Thermal - Domestic (Eskom)

000 t

7,407

8,130

(9)%

7,618

(3)%

Thermal - Domestic (Non-Eskom)

000 t

1,360

1,519

(10)%

1,234

10%

Colombia







Thermal - Export

000 t

2,948

1,512

95%

3,290

(10)%

Australia & Canada - Export m etallurgical coal production increased by 31% to 6.1 million tonnes due to record production from the underground operations, with longwall cutting hours at Grasstree (Capcoal underground) and Moranbah improving by 63% and 33%, respectively.

Australian export thermal coal production decreased by 49% to 0.8 million tonnes, due to a product mix change with an increase in metallurgical coal production, while lower production from Drayton was due to the mine nearing the end of its life.

Construction work on the greenfield Grosvenor metallurgical coal project in Queensland is nearing 50% completion. Critical engineering and procurement activities have been completed and the majority of the project budget has been contracted and committed. Longwall production remains scheduled to commence at the end of 2016 and within budget of $1.95 billion.

South Africa - E xport thermal coal production increased by 6% to 4.1 million tonnes due to improved operational performance at Greenside and mine ramp up at Zibulo.

Production to Eskom was 9% lower at 7.4 million tonnes due to excessive rainfall at New Vaal and a delayed start-up post the longwall move at New Denmark.

Domestic non-Eskom production decreased by 10% to 1.4 million tonnes due to excessive rainfall at Landau.

Colombia - Cerrejón's production increased by 95% predominantly due to the effect of a 32 day strike during Q1 2013.

Export metallurgical coal FY 2014 production guidance for Australia and Canada remains unchanged at 18 - 20 million tonnes. Export thermal coal FY 2014 production guidance for South Africa and Colombia remains unchanged at 29 - 30 million tonnes.



BASE METALS AND MINERALS - COPPER

Copper

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Copper

t

202,000

170,500

18%

214,300

(6)%

Copper - Copper production increased by 19% to 202,000 tonnes. Los Bronces' production  increased by 17% to 115,600 tonnes, with higher grades and continued throughput improvement at both plants. Higher grades reflect adjustments to the sequencing of extraction from the mine which sees higher grade areas being mined sooner. As the year progresses, lower grades are expected to offset these early gains.

Collahuasi's production increased by 78% due to continuing higher grades and the SAG Mill 3 shutdown in Q1 2013. Higher grades reflect the current phase of mining and the accelerated ore extraction of the phase to maximise productivity. Lower grades are expected later in the year as ore supply increases from the next phase.

Production at El Soldado decreased by 37% to 9,900 tonnes. As previously reported, the intersection with a geological fault has delayed the development of the next major phase of ore supply resulting in lower ore availability and grades.

The recent earthquake in the northern region of Chile had minimal impact on copper operations.

Production guidance for FY 2014 has been revised upwards to 710,000 - 730,000 tonnes from 700,000 - 720,000 tonnes, reflecting the mining of higher grade phases at Los Bronces and Collahuasi at the beginning of 2014.

BASE METALS AND MINERALS - NICKEL

Nickel

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Nickel

t

9,200

6,200

48%

10,200

(10)%

Nickel - Production increased by 48% to 9,200 tonnes, despite a decrease in ore grades. Barro Alto produced 6,900 tonnes of nickel, an increase of 68%, reflecting continued operational stability as well as the impact from the Q1 2013 planned stoppage of Line 2 for the electric furnace sidewall rebuild, followed by the metal run-out during the start-up. The first full furnace rebuild at Barro Alto is expected to start, as planned, in late 2014.

Codemin's production increased by 10% to 2,300 tonnes, mainly due to rephasing of annual maintenance from Q1 to Q2 2014.

Production guidance for FY 2014 remains unchanged at 30,000 - 35,000 tonnes.



BASE METALS AND MINERALS - NIOBIUM & PHOSPHATES

Niobium & Phosphates

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Niobium







Production

t

1,100

1,100

0%

1,200

(8)%

Phosphates







Concentrate

t

347,900

348,000

0%

353,400

(2)%

Phosphoric Acid

t

53,800

77,500

(31)%

78,000

(31)%

Fertiliser

t

267,200

273,200

(2)%

299,000

(11)%

Dicalcium phosphate (DCP)

t

31,600

38,300

(17)%

38,700

(18)%

Niobium - Production of niobium was flat at 1,100 tonnes as recovery and process improvements offset lower ore grades.

Development of the Fresh Rock project to extend the life of the Boa Vista mine is ongoing, reaching 85% completion and is expected to achieve first production during the second half of 2014.

Phosphates - Concentrate production was flat at 347,900 tonnes. Fertiliser production decreased by 2%, owing to an unplanned maintenance stoppage and throughput constraints. Phosphoric acid production decreased by 31% to 53,800 tonnes and DCP production decreased by 17% to 31,600 tonnes, due to a bi-annual maintenance stoppage at Catalão.



PLATINUM

Platinum


Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Refined







Platinum

000 oz

435

439

(1)%

692

(37)%

Palladium

000 oz

257

264

(3)%

428

(40)%

Rhodium

000 oz

61

57

7%

84

(27)%

Copper(1) - Refined

t

3,200

2,000

60%

1,800

78%

Copper(1) - Matte

t

1,200

-

-

1,400

(14)%

Nickel(1) - Refined

t

4,900

3,300

48%

5,200

(6)%

Nickel(1) - Matte

t

1,400

-

-

100

1300%

Gold

000 oz

25

23

9%

27

(5)%

Equivalent







Platinum

000 oz

357

583

(39)%

520

(31)%

(1)       Nickel and copper refined through third parties is shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflects matte sold to a third party in Q1 2014 from 2012 and 2013 production stockpile

Platinum - Equivalent refined platinum production decreased by 39% to 357,000 ounces, primarily due to the ongoing industrial action, which began on 23 January 2014, affecting the Rustenburg, Amandelbult and Union mines in South Africa. Total platinum ounces lost due to the industrial action in Q1 2014 was 185,000 ounces. In addition, the impact of placing Khomanani Mine, Khuseleka 2 shaft and Union North Mine declines on long term care and maintenance in August 2013, resulted in a decrease in production of 43,000 ounces.

The industrial action has not impacted production at the Mogalakwena and Unki mines or the majority of the joint operations and associates. Mogalakwena's production increased by 3% due to higher achieved 4E(15) built-up head grade and through the mining productivity improvement programmes introduced during 2013. The Unki mine had record production performance, increasing by 4%, due to improvement in volumes delivered to the concentrator and throughput at the mills.  

Production from joint operations and associates increased by 5% to 183,000 ounces due to increased production at Kroondal and Bokoni mines, partially offset by a decrease in production following a week-long industrial action at Modikwa mine.

Processing operations have not been affected by the industrial action. Refined platinum production totalled 435,000 ounces, in line with production in Q1 2013. However, as mined production reduced, total refined production was supplemented by a drawdown of pipeline inventory. As a result, sales to both contractual and non-contractual (spot) customers have continued at normal levels, supplemented by refined platinum stock.

Palladium, Rhodium and Nickel - Refined production of palladium decreased by 3%, while refined production of rhodium increased by 7%. This variance was due to a different source of feed as certain mines' supply was impacted by the industrial action and the different processing times of the metals. Nickel production increased by 48% as production in Q1 2013 was impacted by technical challenges and good progress was made with the ramp up of production in the nickel tank house.

Production guidance for FY 2014 has been reduced to approximately 2.1 million ounces (previously 2.3 - 2.4 million ounces) of equivalent refined platinum, with further downside revisions possible as a result of the ongoing industrial action.

DIAMONDS

Diamonds

Q1

2014

Q1

2013

Q1 2014

vs.

Q1 2013

Q4

2013

Q1 2014

vs.

Q4 2013

Diamonds

000 carats

7,531

6,364

18%

9,132

(18)%

Diamonds - Diamond production increased by 18% to 7.5 million carats due largely to production in Q1 2013 being impacted by planned plant maintenance at Orapa and the clean-up of the June 2012 sidewall failure in the Jwaneng pit.

Southern African operations were again hampered by heavy rainfall, resulting in lower production than in Q4 2013. However, improved preparedness in Q1 2014 meant the impact was lower than in Q1 2013.

Production guidance for FY 2014 remains unchanged at 30 - 32 million carats.

Please note that diamond production disclosure has increased and is now provided on a mine by mine basis in the Production Summary table.

EXPLORATION AND EVALUATION

Exploration and Evaluation expenditure for Q1 2014 totalled $82 million, a decrease of 21%.

Exploration expenditure in Q1 2014 was $35 million, a decrease of $13 million, spread across all commodities but particularly metallurgical coal and diamonds.

Evaluation expenditure for the quarter was $47 million, a decrease of 15%. Evaluation expenditure in Q1 2014 was primarily focused on the Copper business.

NOTE

This Interim Management Statement for the first quarter ended 31 March 2014 is unaudited.

Interim Financial Results for the six months to 30 June 2014 will be announced on 25 July 2014.

This report forms Anglo American plc's Interim Management Statement for the purpose of the UK Listing Authority's Disclosure and Transparency Rules.



PRODUCTION SUMMARY

The figures below include the entire output of consolidated entities and the Group's attributable share of joint operations, associates and joint ventures where applicable, except for De Beers' joint ventures which are quoted on a 100% basis.

Iron Ore (tonnes)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Kumba Iron Ore








Lump

6,979,200

6,825,200

5,614,100

6,866,400

6,190,300

2%

13%

Fines

4,348,600

4,460,500

3,860,500

4,411,400

4,144,700

(3)%

5%

Total Kumba production

11,327,800

11,285,700

9,474,600

11,277,800

10,335,000

0%

10%

Sishen

8,657,500

8,395,000

6,429,100

8,562,100

7,552,300

3%

15%

Kolomela

2,512,900

2,739,500

2,806,100

2,583,600

2,679,500

(8)%

(6)%

Thabazimbi

157,400

151,200

239,400

132,100

103,200

4%

53%

Total Kumba production

11,327,800

11,285,700

9,474,600

11,277,800

10,335,000

0%

10%

Kumba sales volumes








RSA export iron ore

9,422,700

9,530,200

9,422,400

10,178,300

9,945,100

(1)%

(5)%

RSA domestic iron ore

1,414,800

1,305,700

1,312,200

1,131,500

882,000

8%

60%

Samancor








Manganese ore(1)

692,200

846,000

788,100

864,200

803,400

(18)%

(14)%

Manganese alloys(1)(2)

64,800

66,200

54,800

72,800

57,300

(2)%

13%

Samancor sales volumes








Manganese ore

833,900

837,900

766,100

793,800

864,300

0%

(4)%

Manganese alloys

79,200

60,400

56,800

68,400

63,100

31%

26%

Coal segment (tonnes)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Australia & Canada

Australia








Metallurgical - Export Coking

3,964,000

3,133,900

3,053,000

2,663,400

2,861,300

26%

39%

Metallurgical - Export PCI

1,659,300

1,241,900

1,444,700

1,283,800

1,289,800

34%

29%


5,623,300

4,375,800

4,497,700

3,947,200

4,151,100

29%

35%

Thermal - Export

769,300

1,584,700

1,672,400

1,513,100

1,493,800

(51)%

(49)%

Thermal - Domestic

1,227,900

1,688,800

1,752,300

1,725,300

1,073,000

(27)%

14%


1,997,200

3,273,500

3,424,700

3,238,400

2,566,800

(39)%

(22)%

Canada








Metallurgical - Export Coking

409,200

339,300

412,500

448,500

463,500

21%

(12)%

Metallurgical - Export PCI

20,800

18,300

1,700

-

-

14%

-


430,000

357,600

414,200

448,500

463,500

20%

(7)%

South Africa






Coal by mine (tonnes)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Australia & Canada

Australia








Callide

1,229,200

1,688,800

1,752,300

1,725,300

1,151,400

(27)%

7%

Capcoal (incl. Grasstree)

1,904,700

1,578,800

1,606,000

1,461,100

1,415,500

21%

35%

Dawson

1,022,800

1,162,700

993,300

1,077,100

752,600

(12)%

36%

Drayton

659,100

976,400

1,055,900

785,000

893,400

(32)%

(26)%

Foxleigh

432,900

421,900

541,000

475,700

528,000

3%

(18)%

Jellinbah

677,500

755,900

673,400

610,000

477,200

(10)%

42%

Moranbah North

1,694,300

1,064,800

1,300,500

1,051,400

1,499,800

59%

13%


7,620,500

7,649,300

7,922,400

7,185,600

6,717,900

0%

13%

Canada








Peace River Coal

430,000

357,600

414,200

448,500

463,500

20%

(7)%


430,000

357,600

414,200

448,500

463,500

20%

(7)%

South Africa








Goedehoop

1,138,400

1,228,300

1,194,600

1,143,200

1,114,700

(7)%

2%

Greenside

803,500

923,700

862,800

792,500

690,500

(13)%

16%

Isibonelo

1,248,900

1,139,700

1,421,700

1,259,500

1,245,900

10%

0%

Kleinkopje

807,500

935,600

1,106,900

973,800

980,900

(14)%

(18)%

Kriel

2,045,500

1,962,500

2,189,900

2,056,200

1,894,100

4%

8%

Landau

902,700

1,079,800

1,065,800

939,100

999,300

(16)%

(10)%

Mafube

321,800

416,200

475,400

437,000

496,800

(23)%

(35)%

New Denmark

638,800

569,200

817,100

1,203,700

996,900

12%

(36)%

New Vaal

3,895,000

3,905,200

4,797,300

4,321,200

4,082,000

0%

(5)%

Zibulo

1,113,400

1,293,700

1,291,900

1,229,400

1,056,700

(14)%

5%


12,915,500

13,453,900

15,223,400

14,355,600

13,557,800

(4)%

(5)%

Colombia








Carbones del Cerrej ón

2,948,200

3,290,300

3,184,900

3,014,300

1,512,000

(10%)

95%

2,948,200

3,290,300

3,184,900

3,014,300

1,512,000

(10)%

95%

Total Coal production

23,914,200

24,751,100

26,744,900

25,004,000

22,251,200

(3)%

7%

Copper segment (tonnes) unless stated otherwise (5)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Collahuasi 100% basis (Anglo American share 44%)








Ore mined

17,560,100

23,120,000

19,421,500

19,526,000

18,888,000

(24)%

(7)%

Ore processed - Oxide

1,700,500

1,481,600

1,594,100

2,024,300

1,928,800

15%

(12)%

Ore processed - Sulphide

12,060,400

14,019,700

13,467,600

9,972,800

10,098,900

(14)%

19%

Ore grade processed - Oxide (% ASCu)(6)

0.71

0.71

0.75

0.89

0.86

0%

(17)%

Ore grade processed - Sulphide (% TCu)(7)

1.09

1.23

1.21

1.00

0.75

(11)%

45%

Production - Copper cathode

5,300

5,500

6,900

8,400

7,700

(4)%

(31)%

Production - Copper in concentrate

113,600

141,700

137,800

77,400

59,200

(20)%

92%

Total copper production for Collahuasi

118,900

147,200

144,700

85,800

66,900

(19)%

78%

Anglo American's share of copper production for Collahuasi (8)

52,300

64,800

63,700

37,800

29,400

(19)%

78%

Anglo American Sur








Los Bronces mine (9)








Ore mined

12,311,300

14,502,400

13,243,600

14,991,700

14,200,500

(15)%

(13)%

Marginal ore mined

5,280,400

5,261,100

3,903,800

4,551,100

3,505,300

0%

51%

Ore processed - Sulphide

13,295,100

12,940,500

13,168,200

12,960,600

12,891,300

3%

3%

Ore grade processed - Sulphide (% TCu)

0.88

0.87

0.83

0.81

0.80

1%

10%

Production - Copper cathode

9,900

9,900

8,600

9,300

10,000

0%

(1)%

Production - Copper in sulphate

-

-

-

200

400

-

-

Production - Copper in concentrate

105,700

100,000

97,900

92,200

88,000

6%

20%

Production total

115,600

109,900

106,500

101,700

98,400

5%

17%

El Soldado mine (9)








Ore mined

1,893,500

2,001,200

1,910,600

2,439,800

2,225,100

(5)%

(15)%

Ore processed - Sulphide

1,856,900

1,852,400

1,730,200

1,870,600

1,859,200

0%

0%

Ore grade processed - Sulphide (% TCu)

0.67

0.90

0.65

0.91

1.03

(26)%

(35)%

Production - Copper cathode

200

300

200

300

400

(33)%

(50)%

Production - Copper in concentrate

9,700

12,300

9,200

13,600

15,200

(21)%

(36)%

Production total

9,900

12,600

9,400

13,900

15,600

(21)%

(37)%

Chagres Smelter (9)








Ore smelted

36,700

39,900

38,100

35,800

36,000

(8)%

2%

Production

35,500

38,700

36,800

34,900

34,800

(8)%

2%

Total copper production for Anglo American Sur

125,500

122,500

115,900

115,600

114,000

2%

10%

Anglo American Norte








Mantos Blancos mine








Ore processed  - Sulphide

1,078,000

1,099,500

1,073,300

1,059,400

1,097,400

(2)%

(2)%

Ore grade processed - Sulphide (% ICu) (10)

0.69

0.69

0.69

0.69

0.54

0%

28%

Production - Copper cathode

5,000

6,700

7,500

8,000

7,300

(25)%

(32)%

Production - Copper in concentrate

6,100

6,700

6,100

7,200

5,100

(9)%

20%

Production total

11,100

13,400

13,600

15,200

12,400

(17)%

(10)%

Mantoverde mine








Ore processed - Oxide

2,530,500

2,473,500

2,708,500

2,544,800

2,658,500

2%

(5)%

Ore processed - Marginal ore

2,105,200

1,729,100

2,179,000

2,235,800

2,136,400

22%

(1)%

Ore grade processed - Oxide (% ASCu )

0.50

0.52

0.55

0.58

0.61

(4)%

(18)%

Ore grade processed - Marginal ore (% ASCu )

0.24

0.23

0.24

0.26

0.26

4%

(8)%

Production - Copper cathode

13,100

13,600

14,100

14,400

14,700

(4)%

(11)%

Total copper production for Anglo American Norte

24,200

27,000

27,700

29,600

27,100

(10)%

(11)%

Total Copper segment copper production

268,600

296,700

288,300

231,000

208,000

(9)%

29%

Total Attributable copper production (11)

202,000

214,300

207,300

183,000

170,500

(6)%

18%

Attributable sales volumes

207,600

214,500

216,700

176,700

160,300

(3)%

30%

Nickel segment (tonnes) unless stated otherwise (12)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Barro Alto








Ore mined

354,000

321,300

885,200

510,300

282,200

10%

25%

Ore processed

464,000

487,800

444,400

412,700

271,400

(5)%

71%

Ore grade processed - %Ni

1.78

1.82

1.87

1.74

1.84

(2)%

(3)%

Production

6,900

7,800

7,100

6,100

4,100

(12)%

68%

Codemin








Ore mined

-

-

-

6,800

-

-

-

Ore processed

147,200

151,700

157,000

157,900

135,800

(3)%

8%

Ore grade processed - %Ni

1.67

1.72

1.70

1.68

1.72

(3)%

(3)%

Production

2,300

2,400

2,400

2,400

2,100

(4)%

10%

Total Nickel segment nickel production

9,200

10,200

9,500

8,500

6,200

(10)%

48%

Sales volumes

10,000

11,200

9,200

6,300

7,100

(11)%

41%

Niobium and Phosphates segment (tonnes) unless otherwise stated

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Niobium








Ore mined

38,500

457,100

407,500

314,500

49,700

(92)%

(23)%

Ore processed

229,700

224,400

239,900

249,700

249,100

2%

(8)%

Ore grade processed - %Nb

0.92

1.16

1.19

1.11

1.22

(21)%

(25)%

Production

1,100

1,200

1,100

1,100

1,100

(8)%

0%

Phosphates








Concentrate

347,900

353,400

355,000

349,900

348,000

(2)%

0%

Concentrate grade - %P2O5

36.8

36.7

37.1

37.4

37.4

0%

(2)%

Phosphoric acid

53,800

78,000

79,500

82,100

77,500

(31)%

(31)%

Fertiliser(13)

267,200

299,000

326,300

300,500

273,200

(11)%

(2)%

High analysis fertiliser

30,100

44,400

61,300

53,000

50,600

(32)%

(41)%

Low analysis fertiliser

237,100

254,600

265,000

247,500

222,600

(7)%

7%

Dicalcium phosphate (DCP)

31,600

38,700

43,100

39,500

38,300

(18)%

(17)%

Platinum segment

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Refined production








Platinum (troy oz)

435,200

692,100

666,400

581,800

439,200

(37)%

(1)%

Palladium (troy oz)

256,700

428,200

369,300

319,700

263,600

(40)%

(3)%

Rhodium (troy oz)

60,600

83,500

84,900

69,800

56,500

(27)%

7%

Copper  refined (tonnes)(14)

3,200

1,800

2,600

1,900

2,000

78%

60%

Copper  matte (tonnes)(14)

1,200

1,400

300

4,100

-

(14)%

-

Nickel refined (tonnes)(14)

4,900

5,200

4,900

3,400

3,300

(6)%

48%

Nickel matte (tonnes)(14)

1,400

100

300

5,400

-

1300%

-

Gold (troy oz)

25,400

26,700

33,700

16,300

23,300

(5)%

9%

Equivalent refined








Platinum (troy oz)

357,000

520,300

622,600

594,500

583,000

(31)%

(39)%

4E built-up head grade (g/tonne milled)(15)

2.86

3.19

3.36

3.24

3.22

(10)%

(11)%

Diamonds segment  (De Beers)

Q1 2014

Q4 2013

Q3  2013

Q2 2013

Q1 2013

Q1 2014

vs.

Q4 2013

Q1 2014

vs.

Q1 2013

Carats recovered

100% basis








Orapa

3,204,000

3,516,000

2,644,000

3,132,000

2,083,000

(9)%

54%

Letlhakane

131,000

164,000

132,000

257,000

129,000

(20)%

2%

Damtshaa

56,000

102,000

55,000

58,000

49,000

(45)%

14%

Jwaneng

2,367,000

2,575,000

2,615,000

2,922,000

2,274,000

(8)%

4%

Debswana

5,758,000

6,357,000

5,446,000

6,369,000

4,535,000

(9)%

27%

Terrestrial

137,000

148,000

161,000

137,000

156,000

(7)%

(12)%

Marine

295,000

317,000

284,000

286,000

273,000

(7)%

8%

Namdeb Holdings

432,000

465,000

445,000

423,000

429,000

(7)%

1%

Kimberley

159,000

147,000

224,000

223,000

221,000

8%

(28)%

Venetia

531,000

1,403,000

891,000

258,000

640,000

(62)%

(17)%

Voorspoed

242,000

178,000

240,000

158,000

141,000

36%

72%

DBCM

932,000

1,728,000

1,355,000

639,000

1,002,000

(46)%

(7)%

Snap Lake

268,000

397,000

315,000

328,000

272,000

(32)%

(1)%

Victor

141,000

185,000

171,000

172,000

126,000

(24)%

12%

De Beers Canada

409,000

582,000

486,000

500,000

398,000

(30)%

3%

Total carats recovered

7,531,000

9,132,000

7,732,000

7,931,000

6,364,000

(18)%

18%

(1)              Saleable production

(2)              Production includes medium carbon ferro-manganese

(3)              Within export coking and export PCI coals there are different grades of coal with different weighted average prices compared to benchmark

(4)              Includes both hard coking coal and PCI sales volumes

(5)              Excludes Anglo American Platinum's copper production

(6)              ASCu = acid soluble copper

(7)              TCu = total copper

(8)              Anglo American's share of Collahuasi production is 44%

(9)              Anglo American ownership interest of Anglo American Sur is 50.1%. Production is stated at 100% as Anglo American consolidates Anglo American Sur

(10)            ICu = insoluble copper (total copper less acid soluble copper)

(11)            Difference between total copper production and attributable copper production arises from Anglo American's 44% interest in Collahuasi

(12)            Excludes Anglo American Platinum's nickel production

(13)            2013 fertiliser includes updated  production quantification methodology in the acidulation plant at Cubat ã o

(14)            Nickel and copper refined through third parties is now shown as production of nickel matte and copper matte. Nickel and copper matte, per the table, reflect matte sold to a third party in Q1 2014 from 2012 and 2013 production stockpiles

(15)            4E: the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.



Note:

Production figures are sometimes more precise than the rounded numbers shown in the commentary of this report. The percentage change will reflect the percentage change using the production figures shown in the Production Summary of this report.

Forward-looking statements:

This contains certain forward looking statements which involve risk and uncertainty because they relate to events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.

For further information, please contact:

Media

Investors

UK

UK

James Wyatt-Tilby

Paul Galloway

Tel: +44 (0)20 7968 8759

Tel: +44 (0)20 7968 8718

Emily Blyth

Caroline Crampton

Tel: +44 (0)20 7968 8481

Tel: +44 (0)20 7968 2192

South Africa

Sarah McNally

Pranill Ramchander

Tel: +44 (0)20 7968 8747

Tel: +27 (0)11 638 2592

Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals - copper, nickel, niobium and phosphates; and precious metals and minerals - in which we are a global leader in both platinum and diamonds.  At Anglo American, we are committed to working together with our stakeholders - our investors, our partners and our employees - to create sustainable value that makes a real difference, while upholding the highest standards of safety and responsibility across all our businesses and geographies. The company's mining operations, pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.


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