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Anglo American reports 1Q17 coal production results

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World Coal,

Anglo American plc has reported its coal production for the first quarter ended 31 March 2017.

Commenting on the full production report, Mark Cutifani, Chief Executive of Anglo American, said: "A strong operational performance enhanced by the continued ramp-up of Gahcho Kué, Minas-Rio and Grosvenor delivered an 9% increase in production on a copper equivalent basis. The operating improvements at Sishen and ongoing portfolio refinements are further strengthening Anglo American's resilience and competitive position. De Beers' total sales volumes of 14.1 million carats reflected improved demand for lower value goods in stock at 31 December 2016."

In Australia, Anglo’s export metallurgical coal production increased by 28% to 5.2 million t due to a longwall move at Moranbah in 1Q16 and production ramping up at Grosvenor.

Australian export thermal coal production decreased by 40% to 0.5 million t as Drayton ceased mining activities in October 2016 following the New South Wales Planning Assessment Commission's recommendation not to approve the Drayton South project.

Production was impacted by Cyclone Debbie with production losses in the last week of March.  Mining activities have now restarted at all operations.  The impact on the rail network has been more material, and is still being assessed.  It is expected that this will impact Q2 sales volumes.

South African primary and secondary coal production increased by 9% to 5 million t due to productivity improvements at most mines.

The sale of the Eskom-tied operating mines (New Vaal, New Denmark and Kriel) to Seriti Resources was announced on 10 April, and is expected to complete by the end of 2017. These mines produced 5.7 million t in 1Q17.

Domestic (Isibonelo) thermal coal production decreased by 23% to 0.9 million t due to a dragline fire which occurred during 4Q16.

Anglo’s Colombian production increased by 7% to 2.8 million t, through productivity gains.

The company’s full year guidance for export metallurgical coal from Australia remains unchanged at 19 – 21 million t. Full year production guidance for export thermal coal from South Africa and Colombia also remains unchanged at 29 – 31 million t.


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