ANGLO AMERICAN PLATINUM LIMITED QUARTERLY REVIEW AND PRODUCTION
REPORT
FOR THE PERIOD 01 JULY 2013 TO 30 SEPTEMBER 2013
KEY FEATURES

Regrettably 4 employees lost their lives in Q3 2013

Mining operations at Khomanani mine and Khuseleka 2 shaft were successfully
suspended and integrated into surrounding operations as at 19 August 2013 as part
of the implementation of the restructuring plan

Group equivalent refined platinum production was up 5% from 595 koz in Q2 2013 to
623 koz in Q3 2013

Equivalent refined platinum production from own mines, including the Western Limb
Tailings Retreatment Plant (“WLTR”), of 406 koz, down 5% from 426 koz in Q3 2012

Record quarterly performance in the history of the Joint Venture portfolio at 199 koz,
up 9% year on year
REVIEW OF THE QUARTER
OPERATIONS
Safety performance in Q3 2013 proved disappointing with 4 employees losing their lives and
the year-on-year Lost Time Injury Frequency Rate at managed operations (“LTIFR”)
increasing from 1.07 to 1.09 per 200,000 hours worked.
Total equivalent refined platinum production (equivalent ounces are mined ounces expressed
as refined ounces) for Q3 2013 were flat at 623 koz compared to 626 koz during Q3 2012.
Quarter-on-quarter, Q3 2013 production was up 5% from 595 koz in Q2 2013.
Production from own operations including Western Limb Tailings Retreatment (“WLTR”) was
406 koz, down 20 koz or 5% year-on-year mainly due to the results of the planned mine
closures and challenges in redeploying staff to mines with labour shortages. Year-on-year
increases in production were recorded at Khuseleka 1 shaft and Thembelani, Unki and
Mogalakwena mines but were offset by lower production from Bathopele, Tumela and
Dishaba mines.
Production at Khomanani mine, Khuseleka 2 shaft and Union North Decline was suspended
in August, in line with the proposed restructuring plans. The resources from these mines will
now be integrated into the surrounding operations. Platinum production at Rustenburg mines
was 132 koz, down 11% year-on-year and down 13% quarter-on-quarter as a result.
Production from Bathopele decreased 18% year-on-year, where production was impacted by
the double loss of life incident in July 2013. Mine production is recovering and increasing
steadily.
Platinum production at the Tumela and Dishaba mines decreased by 10% due to shortages
of production crews and supervisors and Section 54 safety stoppages. Tumela was further
affected by a loss of life incident in August 2013. The redeployment programme of labour
following the placement of mines on care and maintenance is underway and is expected to
yield benefits from Q4 2013.
Mogalakwena production was 20% higher compared to 3Q 2012 production. The increase
was as a result of higher milled volume and improved concentrator recovery. Unki
production increased 13% year-on-year to 17 koz as underground mining volumes
increased. New production from the Twickenham mine has improved, with production
increasing 107% over Q2 2013 to 3.1 koz in Q3 2013.
Equivalent refined platinum production from joint ventures and associates, inclusive of both
mined and purchased production, was up 9% year on year at 199 koz, which was a record
quarterly performance of the Joint Venture portfolio (excluding Marikana). This was due to
higher production volumes at Bokoni (up 27%), Mototolo (up 16%) and Kroondal (up 14%)
due to productivity improvement initiatives. The record production was despite mill
maintenance at Kroondal and an extended shutdown of the Bafokeng-Rasimone Platinum
Mine (“BRPM”) mill to replace the primary mill discharge end. Equivalent refined platinum
ounces purchased from third parties were flat year-on-year at 17 koz in Q3 2013.
Refined platinum production at 666 koz, increased by 3% year-on-year and by 14% quarteron-quarter, primarily due to improved performance at the Anglo American Platinum
Converting Process (“ACP”) plant which is operating at a steady state level after issues were
resolved at the end of Q2 2013.
Refined production of palladium and rhodium decreased 6% and 6% respectively. Palladium
and rhodium variances are a result of a different source mix from operations and different
pipeline processing times for each metal. Nickel production saw a 44% quarter-on-quarter
increase as the technical challenges in the new nickel tank house are being resolved and
ramp up continues.
STRIKE ACTION
Anglo American Platinum experienced industrial action at its Rustenburg and the North of the
Pilanesburg operations beginning on 27th September 2013 due to the non-resolution of the
restructuring plans. This was resolved on 10 October 2013 and employees on strike returned
to work on 11 October 2013.
Anglo American Platinum confirms that as a result of the industrial action in September 2013,
44,000 Platinum ounces were lost.
GUIDANCE FOR THE REMAINDER OF 2013
In July 2013, we guided to the market that our production target for 2013 would be 2.3 million
platinum ounces. This guidance remains in place notwithstanding the industrial action. As a
result of restructuring of the Company, our short to medium term forecast production will
remain at 2.2Moz to 2.4Moz.
Our cash operating cost for Q3 2013 of R17,381 was in line with guidance for the full year of
R17,000 per equivalent refined platinum ounce, but will likely be impacted in Q4 2013 by the
restructuring, industrial action and the outcome of the wage negotiations.
ANGLO AMERICAN PLATINUM
THIRD QUARTER PRODUCTION REPORT
PERIOD 01 JULY 2013 TO 30 SEPTEMBER 2013
Unaudited
Unaudited
Unaudited
Quarter ended
Quarter ended
Quarter ended
30 June 2013
30 Septem ber 2013
30 Septem ber 2012
000 oz
000 oz
000 oz
000 oz
000 oz
623
406
66
134
17
626
426
60
124
17
595
397
58
124
16
000 oz
000 oz
000 oz
000 oz
000 oz
000 tonne
000 tonne
000 tonne
000 tonne
666
369
85
34
1,249
4.9
0.3
2.6
0.3
649
392
91
39
1,287
3.7
582
320
70
16
1,101
3.4
5.4
1.9
4.1
000 oz
000 oz
000 oz
515
151
-
488
150
11
443
139
-
000 tonne
g/t
%
000 oz
10,296
3.36
9
623
10,607
3.32
10
626
10,330
3.24
11
595
000 tonne
g/t
%
000 oz
1,982
4.10
35
132
2,329
3.87
34
148
2,481
3.78
34
151
Union Mine
Tonnes Milled
Grade (4E)
Merensky milled
Equivalent refined production
000 tonne
g/t
%
000 oz
962
3.47
1
48
1,289
3.15
1
57
1,019
3.26
1
47
Amandelbult Operations
Tonnes Milled
Grade (4E)
Merensky milled
Equivalent refined production
000 tonne
g/t
%
000 oz
1,332
5.19
18
111
1,650
4.86
19
123
1,290
4.42
18
89
Mogalakwena Mine
Tonnes Milled
Grade (4E)
Equivalent refined production
000 tonne
g/t
000 oz
2,968
2.75
83
2,510
2.82
69
2,639
2.83
78
Unki Platinum Mine
Tonnes Milled
Grade (4E)
Equivalent refined production
000 tonne
g/t
000 oz
400
3.32
17
387
3.35
15
393
3.45
15
Joint Venture Operations - mined (excl POC)
Tonnes Milled
Grade (4E)
Merensky milled
Equivalent refined production
000 tonne
g/t
%
000 oz
1,267
3.75
66
1,113
3.67
60
1,140
3.63
58
R
17,381
15,377
16,674
Attributable equivalent refined Platinum production
Own Mines including WLTR
Joint ventures - mined
Joint ventures and associates - purchased
Third parties - purchased
Gross refined production
Platinum
Palladium
Rhodium
Gold
PGMs
Nickel - Refined
2
Nickel - Matte
Copper - Refined
2
Copper - Matte
Platinum from: Mining
Purchase of concentrate
3
Toll refining
Total Operations
Tonnes Milled
Grade (4E)
Merensky milled
Equivalent refined production
Rustenburg Operations excl WLTR
Tonnes Milled
Grade (4E)
Merensky milled
Equivalent refined production
Cash operating cost / equivalent refined Platinum oz
1
2.7
-
1
Mine's production converted to equivalent refined production using Amplats' standard smelting and refining recoveries
2
Nickel and copper refined through 3rd parties is now shown as production of nickel matte and copper matte.
3
Toll refining represents metal refined in respect of the recycling project and it was returned to the third party
4
Grades and production are reflected inclusive of low grade surface material at operations
Note: WLTR refers to the Western Limb Tailings Retreament. POC refers to purchased concentrate.
NB: Grade 4E is the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold.
Johannesburg, South Africa
18 October 2013
For further information, please contact:
Investors:
Media:
Emma Chapman
Mary Jane Morifi
+44 (0) 20 7968 8451
+27 (0) 11 373 6638
[email protected]
[email protected]
Mpumi Sithole
+27 (0) 11 373 6246
[email protected]
Notes to editors:
Anglo American Platinum Limited (“the Company”) is a member of the Anglo American plc.
Group (“the Group”) and is the world’s leading primary producer of platinum group metals.
The Company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting
and refining operations are based in South Africa. Elsewhere in the world, the Group owns
Unki Platinum Mine in Zimbabwe and is actively exploring in Brazil. Anglo American
Platinum has a number of joint ventures with several historically disadvantaged South African
consortia as part of its commitment to the transformation of the mining industry. The
Company is committed to the highest standards of safety and continues to make a
meaningful and sustainable difference in the development of the communities around its
operations.
www.angloamericanplatinum.com
Anglo American is one of the world’s largest mining companies, is headquartered in the UK
and listed on the London and Johannesburg stock exchanges. Our portfolio of mining
businesses meets our customers’ changing needs and spans bulk commodities – iron ore
and manganese, metallurgical coal and thermal coal; base metals and minerals – copper,
nickel, niobium and phosphates; and precious metals and minerals – in which we are a
global leader in both platinum and diamonds. At Anglo American, we are committed to
working together with our stakeholders – our investors, our partners and our employees – to
create sustainable value that makes a real difference, while upholding the highest standards
of safety and responsibility across all our businesses and geographies. The company’s
mining operations, pipeline of growth projects and exploration activities span southern Africa,
South America, Australia, North America, Asia and Europe.
www.angloamerican.com