Future-Enabling Growth Strategy Update
Attractive greenfield and brownfield options
Growth capex¹ ($bn)
Long life greenfields and fast returning brownfields
Capex
Volume (pa)
From¹
Payback
Forecast Returns
IRR
Margin
Quellaveco (Copper)
Approved
$2.7bn to $2.8bn²
+300kt²
2022
~4 years
>15%
>50%
Marine Namibia (Diamonds)
Woodsmith (Crop Nutrients)4
Sishen (Iron Ore)
Collahuasi Phase 16 (Copper)
Mogalakwena expansion (PGMs)
H1 2022
Moranbah-Grosvenor (Met Coal)
~2023
~$0.3bn
Collahuasi Phase 2 (Copper)
~2024
Technology & innovation
Ongoing
$0.2bn to $0.5bn pa
111111
Approved
~$0.2bn³
+0.5Mct³
2022
~3 years
>25%
>60%
Approved
Approved
Optimisation of development timeline and design ongoing
~$0.2bn
~$1/t5 premium
& 3-4 year LOM
2023
~6 years
Approved
~$0.3bn
+50kt
2023
~4 years
>30%
>30%
>40%
>50%
Number of options being considered, third concentrator feasibility studies due to complete in H1 20227
+2.5Mt8
2025
~5 years
>15%
>50%
Studies underway for next stage expansion; potential up to +100ktpa from 2028
Multiple options - rapid payback, high profitability, sustainability benefits
1. Cash expenditure on property, plant and equipment including related derivatives, net of proceeds from disposal of property, plant and equipment and includes direct funding for capital expenditure from non-controlling interests. Shown
excluding capitalised operating cash flows. Guidance includes unapproved projects and is, therefore, subject to progress of growth project studies and Woodsmith is excluded after 2022. 'From' column represents first production.
2. Attributable share post syndication proceeds. 100% of production volumes; 60% attributable share of production: 180ktpa.
3. Attributable capex. 100% of production volumes.
4. Capex spend for 2020, 2021 and 2022 is approved. The technical review is largely complete, with further engineering ongoing to enhance the configuration of the project to optimise long term value. Final design engineering, capex &
schedule at the end of 2022 and subject to Board approval.
5. $1/t premium applies to -50% of volumes.
6. The 5th ball mill has been approved, other near-term initiatives under phase 1 are under study.
7. Previously showed $0.8-1.4bn capex, 0.3-0.6Moz PGMs, 2025.
8. Moranbah-Grosvenor complex processing capacity increases by +3.5Mtpa ROM. This is equivalent to +2.5Mtpa saleable production, based on our attributable share.
Anglo American
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