Investor Presentaiton
price Volume Revenue
$965/oz 606koz $585m
$2,151/oz 467koz $1,005m
H1 2022 simplified earnings by BU - notes.
PGMs basket price
Own mined
PGMs basket
Platinum
Palladium
Realised
Iron Ore realised price
Steelmaking Coal blended price
Total iron ore Kumba Minas-Rio
Sales
Market price Volume
Market price28
$150/t
$140/t
$174/t
HCC
$467/t 3.9Mt
Freight
$(23)/t
$(20)/t $(29)/t
PCI
$406/t 1.3Mt
Rhodium
$17,127/oz
88koz $1,507m
Moisture content29
$(5)/t $(2)/t $(13)/t
Weighted average steelmaking coal
$452/t 5.2Mt
Iridium, ruthenium & gold
188koz $256m
Lump premium³
$9/t
$13/t
Base metals & other27
$353m
Fe premium³
$5/t
$5/t
$4/t
Total revenue
$3,706m
Other8
$(1)/t $(1)/t
$(2)/t
PGM volume4
1,349koz
Realised FOB price
$135/t
$135/t
$134/t
Basket price (per PGM oz) 13
$2,747/oz
1. Wet basis. Weighted average of Kumba and Minas-Rio.
2. Manganese ($223m), Crop Nutrients ($(18)m), Exploration ($(64)m), unallocated Corporate
costs ($(218)m).
3. Proportionate share of sales volumes (19.2% Botswana, 50% Namibia): 6.7 Mct.
4. Own mined sales volumes including proportionate share of joint operation volumes. PGM
ounces are reported on a 5E+Au basis. Differences to the half year financial report relate to
rounding.
Excludes thermal coal sales.
5.
6.
LME price, c/lb converted to $/tonne (2,204.62 lbs/tonne).
7. Weighted average of HCC/PCI prices, FOB Aus. See Steelmaking Coal blended price table
above.
8. Kumba: 64.0% Fe content, ~66% of volume attracting lump premium; Minas-Rio: 67% Fe
content, pellet feed. Includes 'other' of product premium and provisional pricing. See Iron Ore
realised price table above.
9. Sales volumes ~75% HCC, averaging 87% realisation of quoted low vol HCC price.
10. Provisional pricing & timing differences on sales.
11. Freight and moisture. See Iron Ore realised price table above.
15. Royalties for Copper Chile are recorded in the income tax expense line, after EBITDA.
16. Royalties for Nickel, in Brazil, are based on production costs incurred.
17. Weighted average. Kumba: $6/t; Minas-Rio: $5/t.
18. From 1 July 2022, additional tiers have been added to the Queensland royalty rates.
19. Includes market development & strategic projects, exploration & evaluation costs, restoration &
rehabilitation costs and other corporate costs.
20. Higher than previous period due to increased corporate, marketing, admin costs and FX
movements.
21. Includes costs related to Quellaveco, Chagres third-party purchases of concentrate, corporate
allocations, offset by adjustments to rehabilitation provisions.
22. Higher than previous period as impacted by stock count adjustment.
23. Weighted average. Kumba: $6/t; Minas-Rio: $10/t.
24. Includes a one-off credit to EBITDA of $250m relating to the finalisation of the Grosvenor gas
ignition claim as well as the benefit of the high margin achieved on the sales of thermal coal by-
product in Australia. Refer to FY2020 presentation for more typical spend.
25. Principally processing & trading of product purchased from third parties.
26. Weighted average. Kumba: ~53%; Minas-Rio: 100%.
12. The realised price for proportionate share (19.2% Debswana, 50% Namibia) excluding the 12% 27. Nickel, copper, chrome & other metals.
trading margin achieved in H1 2022.
13. Price for basket of own mined product per 5E+Au PGM oz. See PGMs basket price table above.
14. Realised price adjusted to include Jellinbah. Unit cost is for managed operations only.
Anglo American
28. Kumba: Platts 62% Fe CFR China; Minas-Rio: MB 66% Fe concentrate CFR.
29. Moisture adjustment converts dry benchmark to wet product. Kumba: ~1.6%; Minas-Rio ~9%.
36View entire presentation