AngloAmerican Investor Update
Footnotes
1.
2.
3.
4.
5.
6.
7.
8.
9.
Production reflects the new longwall operating protocols and excludes thermal coal by-product. Subject to the extent of further Covid-19 related disruption.
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. Consequently, for Quellaveco, growth capex reflects our attributable share. Collahuasi desalination capex shown includes related infrastructure. Guidance
includes unapproved projects and is, therefore, subject to progress of growth project studies and Woodsmith is excluded after 2023. Long-term sustaining capex guidance is shown on a 2022 real basis. Refer to appendix
for previous guidance.
10.
Metrics on an underlying basis - before special items and remeasurements adjusted to include the Group's attributable share of associates' and joint ventures' results. Refer to appendix for previous depreciation guidance.
11. Copper equivalent unit costs are shown on nominal terms and calculated as the total USD cost base divided by copper equivalent production. Copper equivalent unit cost is normalised to reflect the demerger of the South
Africa thermal coal operations and the sale of our interest in Cerrejón.
Source: Anglo American internal analysis, based on sector outlooks in Wood Mackenzie's 1.5 Degree Scenario, March 2022.
13. Source: Wood Mackenzie's 1.5 Degree Scenario, M&M Corporate Service, March 2022. Includes copper, aluminum, iron ore, zinc, nickel, lithium, cobalt, manganese, rare earths, bulk and noble alloys. Rounded to the
nearest $100bn.
14.
Source: McKinsey.
15.
Source: Anglo American.
16. Source: Johnson Matthey 2021 demand on a gross basis.
17. 90% of primary iron production. Source: Wood Mackenzie.
12
12.
Recordable incidents. Data relates to subsidiaries and joint operations over which Anglo American has management control.
October year-to-date Total Recordable Injury Frequency Rate per million hours worked.
Copper equivalent production is calculated including the equity share of De Beers' production and using long-term consensus parameters. It is normalised to reflect the demerger of the South Africa thermal coal
operations and the sale of our interest in Cerrejón. Future production levels are indicative and subject to final approval, see Cautionary Statement on slide 2.
Production on a 100% basis except for the Gahcho Kué joint operation, which is on an attributable 51% basis, and is subject to trading conditions. Venetia continues to transition to underground operations - first
production is expected in 2023, with a slower than expected ramp-up. Subject to the extent of further Covid-19 related disruption.
Copper business unit only. On a contained-metal basis. Total copper is the sum of Chile and Peru. Chile production guidance in 2023 and 2024 is impacted by lower grades across all operations, as well as an increase in
ore hardness at Los Bronces, impacting throughput. Lower planned grades at Collahuasi impacts production in 2025. Chile production guidance is subject to water availability. Peru production guidance in 2023 reflects a
slightly later start-up in 2022 than previously expected. Subject to the extent of further Covid-19 related disruption.
5E + gold produced metal in concentrate ounces. Includes own mined production (~65%) and purchased concentrate (POC) volumes (~35%). Metal in concentrate production is impacted by lower grade and recoveries
at Mogalakwena, infrastructure closures and lower volumes from Amandelbult. Kroondal switches to a tolling arrangement upon our exit from the operation, expected in 2024. Lower volumes in 2025 reflect the transition
of the Siyanda POC agreement to tolling. Subject to the extent of further Covid-19 related disruption.
18.
19.
20.
Total iron ore is the sum of Kumba and Minas-Rio on a wet basis (Kumba product is shipped with ~1.6% moisture and Minas-Rio product is shipped with ~9% moisture). Kumba production reflects lower expectations of
third-party logistics performance; 2023 is impacted by high levels of on-mine inventory and 2024 is subject to UHDMS plant coming online - guidance remains subject to the third-party rail and port performance. Minas-
Rio production is impacted by harder, compact ore and pipeline inspection impacts 2025 volumes. Subject to the extent of further Covid-19 related disruption.
Source: International Energy Agency Sustainable Development Scenario.
Potash price index based on average Granular MOP & Standard SOP FOB NW Europe prices US$/t, based to 100 as at 2017. Source: Argus, CRU.
Represents the Group's underlying EBITDA margin for the mining business at long-term consensus commodity prices. It excludes the impact of non-mining activities (eg PGMs purchases of concentrate, sale of non-equity
product by De Beers, 3rd party trading activities performed by Marketing) & reflects Debswana accounting treatment as a 50/50 joint operation.
Anglo American
31View entire presentation