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Anglo American reports coal production for 3Q16

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World Coal,

Anglo American plc has released it production report for the third quarter ended 30 September 2016.

In Australia, export metallurgical coal production was broadly unchanged, increasing by 1% to 5.5 million t due to production ramping up at Grosvenor and a 3Q15 longwall move at Moranbah, offset by the sale of the Foxleigh opencast mine (completed on 30 August 2016) and geological issues at Grasstree ahead of the planned longwall move.

Australian export thermal coal production decreased by 19% to 1.1 million t as Drayton continues to ramp down to a full cessation of mining activities in 4Q16.

Anglo’s South African export thermal coal production decreased by 3% to 4.8 million t. This is reported to be primarily due to Landau and Zibulo export production being re-directed into the domestic market for value.

Eskom related production increased by 20% due to increased demand from Eskom and increased Eskom production at Kleinkopje.

In Colombia, Anglo’s Cerrejón's attributable production increased by 16% to 2.9 million t due to improved productivity and favourable weather conditions.

Anglo’s full-year production guidance for export metallurgical coal has been reduced to 20.5 – 21.5 million t (previously 21 – 22 million t) due to the completion of the Foxleigh sale on 30 August 2016. Full-year production guidance for export thermal coal from South Africa and Colombia remains unchanged at 28 – 30 million t.

Mark Cutifani, Anglo American CEO, said: "Operational improvements continue across the portfolio, delivering a 4% production increase on a copper equivalent basis in the third quarter, and a 12% increase compared to Q2 2016. The latter increase is largely due to the strong recovery at Kumba's Sishen mine, a 46% production increase, following the successful completion of its restructuring. In our diamond and platinum businesses we continue to maintain discipline on volumes by mining to demand, whilst the ramp-ups at Minas-Rio and Grosvenor are progressing well, and Barro Alto has now reached nameplate capacity. The modestly higher production at De Beers is reflective of improved market conditions relative to Q3 2015, but we maintain a cautious outlook."

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