Anglo American is undertaking a fundamental restructuring to create a streamlined portfolio focused on priority assets. The company will reduce its assets from 55 to around 20 and reduce employees from 135,000 to less than 50,000. Key initiatives include improving operating performance at Los Bronces and Minas Rio through integrated approaches, and achieving $2.1 billion in additional efficiency improvements by 2017 through cost reductions and productivity gains across its operations.
Driving value - Understanding the potentialAnglo American
Ā
Anglo Americanās leadership team present the updated strategy and progress on driving value to the 2013 Analyst and Investor Strategy event, held at the London Stock Exchange.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Preliminary Results Year Ended 31 December 2014Anglo American
Ā
Anglo American announces significant operational improvements amid sharply lower commodity prices.
RESULTS HIGHLIGHTS
Delivered on all major commitments for 2014 ā operational performance, project delivery and portfolio restructuring targets.
Strong operational performance across every business (4% production increase on Cu Eq. basis).
Group underlying EBIT of $4.9 billion, a 25% decrease due to sharply weaker commodity prices ($2.4 billion underlying EBIT impact), partially offset by weaker producer country currencies ($1.3 billion positive impact to underlying EBIT) and increased production and sales volumes.
Special items after tax and non-controlling interest include commodity price-driven impairments of $3.9 billion, including $3.5 billion at Minas-Rio.
Net debt of $12.9 billion as at 31 December 2014 (2013: $10.7 billion), with $15.1 billion of liquidity; $1.7 billion of bonds maturing in 2015 and $1.6 billion maturing in 2016.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Driving value - Understanding the potentialAnglo American
Ā
Anglo Americanās leadership team present the updated strategy and progress on driving value to the 2013 Analyst and Investor Strategy event, held at the London Stock Exchange.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Preliminary Results Year Ended 31 December 2014Anglo American
Ā
Anglo American announces significant operational improvements amid sharply lower commodity prices.
RESULTS HIGHLIGHTS
Delivered on all major commitments for 2014 ā operational performance, project delivery and portfolio restructuring targets.
Strong operational performance across every business (4% production increase on Cu Eq. basis).
Group underlying EBIT of $4.9 billion, a 25% decrease due to sharply weaker commodity prices ($2.4 billion underlying EBIT impact), partially offset by weaker producer country currencies ($1.3 billion positive impact to underlying EBIT) and increased production and sales volumes.
Special items after tax and non-controlling interest include commodity price-driven impairments of $3.9 billion, including $3.5 billion at Minas-Rio.
Net debt of $12.9 billion as at 31 December 2014 (2013: $10.7 billion), with $15.1 billion of liquidity; $1.7 billion of bonds maturing in 2015 and $1.6 billion maturing in 2016.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Thanks to the encouraging results delivered by our people, Anglo American is now more robust, with a stronger balance sheet and more competitive cost structure around a world class diversified asset base.
Anglo American hosted a presentation for investors and analysts, providing a detailed update on its operational turnaround and the next phase of transformation to position the business to outperform, by realising its full potential and delivering enhanced and sustainable returns to shareholders.
A summary of 2018's financial and operation performance delivered by Mark Cutifani, Chief Executive, and Stephen Pearce, Finance Director, to the market on 21st February 2019.
Mark Cutifaniās presentation at the 2020 BofA Global Metals, Mining & Steel C...Anglo American
Ā
Anglo American Chief Executive, Mark Cutifani, presents an overview of how Anglo American is āDelivering through volatile timesā at Bank of Americaās annual Global Metals, Mining and Steel Conference.
Kumba Iron Ore Interim Results - for the six months ended 20 June 2013Anglo American
Ā
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
BoAML 2014 Global Metals, Mining & Steel ConferenceAnglo American
Ā
Chief Executive, Mark Cutifani, presents at the Bank of America Merrill Lynch 2014 Global Metals, Mining & Steel Conference.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Preliminary Results Year Ended 31 December 2013Anglo American
Ā
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
We hosted an analyst and investor seminar about our diamond business, De Beers, providing a detailed look at the company ā from exploration to retail ā its industry, and future trends for the diamond business.
Thanks to the encouraging results delivered by our people, Anglo American is now more robust, with a stronger balance sheet and more competitive cost structure around a world class diversified asset base.
Anglo American hosted a presentation for investors and analysts, providing a detailed update on its operational turnaround and the next phase of transformation to position the business to outperform, by realising its full potential and delivering enhanced and sustainable returns to shareholders.
A summary of 2018's financial and operation performance delivered by Mark Cutifani, Chief Executive, and Stephen Pearce, Finance Director, to the market on 21st February 2019.
Mark Cutifaniās presentation at the 2020 BofA Global Metals, Mining & Steel C...Anglo American
Ā
Anglo American Chief Executive, Mark Cutifani, presents an overview of how Anglo American is āDelivering through volatile timesā at Bank of Americaās annual Global Metals, Mining and Steel Conference.
Kumba Iron Ore Interim Results - for the six months ended 20 June 2013Anglo American
Ā
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
BoAML 2014 Global Metals, Mining & Steel ConferenceAnglo American
Ā
Chief Executive, Mark Cutifani, presents at the Bank of America Merrill Lynch 2014 Global Metals, Mining & Steel Conference.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Preliminary Results Year Ended 31 December 2013Anglo American
Ā
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
We hosted an analyst and investor seminar about our diamond business, De Beers, providing a detailed look at the company ā from exploration to retail ā its industry, and future trends for the diamond business.
Anglo Pacific is the only company listed on the London Stock Exchange focused on royalties connected with the mining of natural resources. It is an objective of the Company to pay a substantial portion of its royalty revenues to shareholders as dividends.
Mark Wilson, Group Chief Executive Officer, said:
āIn the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Avivaās turnaround.
āWe have achieved profit after tax of Ā£776 million, in contrast to the Ā£624 million loss last year. Cash flows to the Group have increased by 30% to Ā£573 million. Our key measure of sales ā value of new business ā has increased 17%, driven by the UK, France, Poland, Turkey and Asia.
āAlthough these results continue the positive trends of the first quarter, tackling our legacy issues will take time.
āI am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva.ā
Mpumi Zikalala, 6th Annual Women in Mining ConferenceAnglo American
Ā
Vice-President: De Beers Sightholder Sales (South Africa), Mpumi Zikalala, reflected on her journey in mining and the presence of women in the industry at large.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
Ā
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your companyās legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, weāll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
Ā
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Memorandum Of Association Constitution of Company.pptseri bangash
Ā
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Ā
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Improving profitability for small businessBen Wann
Ā
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
2. 2
CAUTIONARY STATEMENT
Disclaimer: This presentation has been prepared by Anglo American plc (āAnglo Americanā) and comprises the written materials/slides for a presentation concerning
Anglo American. By attending this presentation and/or reviewing the slides you agree to be bound by the following conditions.
This presentation is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy shares in Anglo American. Further, it does not
constitute a recommendation by Anglo American or any other party to sell or buy shares in Anglo American or any other securities. All written or oral forward-looking statements
attributable to Anglo American or persons acting on their behalf are qualified in their entirety by these cautionary statements.
Forward-Looking Statements
This presentation includes forward-looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those
regarding Anglo Americanās financial position, business and acquisition strategy, plans and objectives of management for future operations (including development plans and
objectives relating to Anglo Americanās products, production forecasts and reserve and resource positions), are forward-looking statements. By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American, or industry
results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo Americanās present and future business strategies and the environment in which
Anglo American will operate in the future. Important factors that could cause Anglo Americanās actual results, performance or achievements to differ materially from those in the
forward-looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, mineral resource
exploration and development capabilities, recovery rates and other operational capabilities, the availability of mining and processing equipment, the ability to produce and
transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political
uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or safety, health,
environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified
in Anglo Americanās most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed
on forward-looking statements. These forward-looking statements speak only as of the date of this presentation. Anglo American expressly disclaims any obligation or undertaking
(except as required by applicable law, the City Code on Takeovers and Mergers (the āTakeover Codeā), the UK Listing Rules, the Disclosure and Transparency Rules of the
Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SWX Swiss Exchange, the Botswana Stock Exchange
and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect
any change in Anglo Americanās expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Nothing in this presentation should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings
per share.
Certain statistical and other information about Anglo American included in this presentation is sourced from publicly available third party sources. As such it presents the views of
those third parties, but may not necessarily correspond to the views held by Anglo American.
No Investment Advice
This presentation has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs. It is important that you
view this presentation in its entirety. If you are in any doubt in relation to these matters, you should consult your stockbroker, bank manager, solicitor, accountant, taxation adviser
or other independent financial adviser (where applicable, as authorised under the Financial Services and Markets Act 2000 in the UK, or in South Africa, under the Financial
Advisory and Intermediary Services Act 37 of 2002).
4. 4
SETTING CONTEXT
The global market for commodities continues to deteriorateā¦
ā¦and this is not a time to talk about business as usual.
Indexed commodity prices (1 Jan 2015 = 1)
0.5
0.6
0.7
0.8
0.9
1.0
1.1
1 Nov 20151 May 20151 Mar 2015 1 Sep 20151 Jan 2015 1 Jul 2015
Diamonds
Nickel
Platinum
Met coal
Iron Ore
Thermal Coal
Copper
Variance 1 Jan
to 27 Nov 2015
(15)%
(7)%
(25)%
(29)%
(33)%
(38)%
(27)%
(25)%
Source: Thermal Coal - globalCOAL; Diamonds ā De Beers Price Index, Platinum, Copper & Nickel - London Metal Exchange; Met Coal - Platts Steel
markets daily; Iron Ore ā Platts 62% CFR China has been used in the instance as a generic industry benchmark.
5. 5
DEFINING āTHE FUTURE ANGLO AMERICANā
ā¦to create a streamlined and tighter portfolio ā 2016 a year of radical change.
We are embarking on a fundamental restructuring planā¦
ļ A BOLD PORTFOLIO RESTRUCTURING
ā¢ A more aggressive set of hurdles for inclusion in our portfolio.
ā¢ Focussed on āPriority 1ā assets and commodity positions that deliver reliable cash and returns.
ļ CHARACTER OF REVISED PORTFOLIO
ā¢ A more resilient asset mix with higher returns through the cycle.
ā¢ Large scalable resources primarily positioned in or moving towards Q1 on the cost curve.
ļ IMPLICATIONS FOR TODAYāS ANGLO AMERICAN
ā¢ Reduce from 55 assets by ~60%.
ā¢ Reduce from 135k employees today to less than 50k.
ā¢ Negative cash flow assets either closed, placed on C&M, or sold.
6. 6
OUR CORE ASSETS ā ACCELERATING TRANSFORMATION
Focus on Priority 1 assets which deliver free cash flow through the cycleā¦
ā¦and 2016 is about accelerating our plans for dealing with the tail.
Assets ā operating free cash flow 2016F(1)
Priority 1 Asset Criteria:
1. Size of resource and endowment.
2. Scalable with margin growth.
3. Cost & margin curve position.
4. Asset operating risk profile.
ā¦delivering cash through the cycle.
(1) Based on current spot pricing, where operating free cash Flow = EBITDA less SIB Capex & Capital Stripping
7. 7
THE TRANSFORMATION SO FAR
Our focus is on higher quality and more scalable assetsā¦
ā¦and we are accelerating the process and transformation objectives.
Future
Anglo
American
~60%
After
announced
actions
36
2014
55
Number of operations(1)
(1) Excludes Lafarge Tarmac JV and Manganese assets.
Iron OreNickel
Niobium & PhosphatesDe Beers
Copper
Coal
Platinum
Our focus has shifted to Priority 1 assetsā¦
ļ Diversified portfolio: Access to Priority 1 assets.
ļ Focus on value: Deliver full potential on Priority 1
assets.
ļ Leaner Overheads and costs: Leverage cash flow and
returns off highest quality assets.~20
8. 8
ORGANISATION TRANSFORMATION
ā¦as a leaner and more efficient business.
Our organisation transformation reflects our future stateā¦
ļ CONSOLIDATING DIVISIONAL STRUCTURES
ā¢ De Beers
ā¢ Industrial Metals
ā¢ Bulk Commodities
ļ REGIONAL COMMODITY HUBS
ā¢ Utilise local infrastructure
ā¢ Share skills and resources
ā¢ Consolidate corporate offices
ļ FUNCTIONAL ORGANISATION
ā¢ Improve capability in key areas
ā¢ Eliminate duplication
ā¢ Reduce overhead and other costs.
9. 9
ORGANISATION IMPLICATIONS
ā¦and our next step will have further significant implications.
13,000
11,500
8,500
162,000
2014
151,000
2013
17%
Future
Anglo
American
~50,000
Expected
2017
92,000
7,000
Expected
2016
99,000
Expected
2015
Year-End
135,000
~70%~30%
Employee and contractor numbers
Support
Operations
Our rightsizing of the business and reductions in overheads is changing the businessā¦
10. 10
HOW WE OPERATE
SAFETY
ļ Improvements underpinned by positive safety
milestones in Platinum and South African
operations.
ļ Focus on workforce engagement will be
important as our restructuring touches all areas
of the business.
ENVIRONMENT
ļ Improvements reflect operations planning and
associated attention to detail.
ļ Water management is becoming a key
challenge across most jurisdictions.
ļ We are testing JV safety and technical controls
in light of industry incidents.
We have achieved a step change in safety and environmentā¦
ā¦as a well run operation is a safe operation.
6
2014
15
2013
30
2012 Nov-15
22
2011
27
Copper IOB
NNP KIOCoal
Platinum
De BeersOMI
Exploration
Environmental incidents (levels 3 to 5)(1)
(1) Environmental incidents are classified in terms of a 5-level severity rating. Incidents with medium,
high and major impacts, as defined by standard internal definitions, are reported as level 3-5 incidents.
12
7 6 3
13
17
2011 Nov-15
2
6
2014
6
2013
15
2012
Loss of life (by business)
13. 13
COST AND PRODUCTIVITY IMPROVEMENTS
Our business improvement work continues to target our cost baseā¦
ā¦with $2.1bn of further efficiency improvements expected by the end of 2017.
Operating
costs
Volume -
productivity
1.0
0.7
0.6
0.3
Studies and
exploration
Costs
DELIVERED 2013 - 2015 TARGET 2016
$1.6bn $1.1bn
NEW - TARGET 2017
$1.0bn
Costs
0.8
0.3
Volume -
productivity
0.3
0.5
Support
costs
Operating
costs
1.0
Costs and
volume - productivity
Bring
forward
where
possible
Note: Delivered 2013, 2014, 2015 includes $0.3bn cost reduction expected to be achieved in H2 2015, offset by lower $0.4m
lower volumes in H2 (mainly De Beers). Assumed Minas-Rio commercial production from 1st Jan 2016.
ļ¼
14. 14
IMPROVING OPERATING PERFORMANCE
Realising short term productivity gainsā¦
ā¦through the application of technical leverage.
EQUIPMENT EFFICIENCY DRILLING IMPROVEMENT CLEAN FLUIDS
ļ Significant potential value
opportunity
ļ Reduced operating cost and
avoidance of capex
ļ Co-ordinated programme across
~20 operations
ļ Improving drilling accuracy, quality
and equipment utilisation
ļ Successful automation trials at
three operations in 2015
ļ Reduction in direct costs
ļ Improved fragmentation and ore
delivery to plant
ļ Sustainable cost reduction
through improved cleanliness of
diesel and lubricants
ļ Increasing component life
ļ Reducing downtime
ļ Reducing consumption
Whole of life Komatsu 930E
industry cost comparison
Increase in fuel cleanliness through
cleaning storage tanks and increased
filtration
Automated drilling
at Kolomela
15. 15
86%
88%
90%
92%
93%
94%
91%
95%
Peer2
Peer5
Peer4
Peer3
Peer1
Confluencia
FY 2014 OT% benchmarking
2014 Throughput - Without planned maintenance and strikes
Histogram
86 96 106 116 126 136 146 156 166 176 186
0
10
20
30
40
50
60
70
80
90
100
Basic Statistics
298 Data points
.364783189Maximum
.622158Mean
.81563786Minimum
.46315Sigma (i)
.749%9Coeff Of Variation
Out of Spec
.168%25Above
.000%0Below
.168%25Total
2014 ORE FEED PROCESSED
EXCLUDING WATER
RESTRICTIONS, PLANNED
MAINTENANCE DAYS AND
STRIKES
Ave: 159 P75: 169
LOS BRONCES
Operating model go-live will lead to ~15,000 tpa increase in copper productionā¦
ā¦and >15% saving in $/tonne treated by 2017 (real terms).
FY 2014 throughput
PLANT OPERATING TIME % CLOSE TO BENCHMARK
IMPROVING OPERATIONAL STABILITY AND
HIGHER THROUGHPUT
Average
Bestpractice
LARGE TRUCK OPERATING HOURS 1
0
2,500
5,000
7,500
Mine A Mine B Mine C Mine D Mine E Los
Bronces
Mine F
0
10
20
30
40
2014 2015E 2016E
LABOUR PRODUCTIVITY (MATERIAL MINED / FTE) 2
1 2014 data except Los Bronces (1H 2015)
2 FTE includes employees and permanent contractors
16. 16
INTEGRATED APPROACH AT LOS BRONCES1
Integrating orebody knowledge, innovative technology and business improvementā¦
ā¦to unlock the full value of the underlying resource.
World class mineral endowment 2
ļ One of the worldās greatest
accumulations of copper
ļ High grade zones and more
potential is appearing
ļ Increasing metal production by
improved fragmentation
ā¢ Reduce waste tailings
ā¢ Reduce water and energy
intensity
ļ 15,000tpa increase in copper
production by 2017
ļ Building on the foundation of the
Operating Model
ļ Co-ordinated programme to
increase throughput and
maximise recovery
0
10
20
30
40
50
60
70
Ore
Reserves
Mineral
Resources
Exploration
Targets
High
Mid
Low
EstimatedBilliontonnes
1 Anglo American share: 50.1%
2 Refer to resource classification note on slide 50
LONG TERM FOCUS MEDIUM TERM BREAKTHROUGH SHORT TERM DELIVERY
Leading innovation Operating excellence
17. 17
2015 PERFORMANCE
ļ Significant deterioration in iron ore markets
ļ Pit redesign to reflect the lower price environment
ļ Insufficient compliance to mine plan
RECONFIGURATION TO OPTIMISE MINE DESIGN
ļ 2016 production of ~26 million tonnes
ļ Waste movement of ~135 million tonnes, materially below
previous guidance of ~230mt
ļ New mine design enables a more flexible approach with lower
execution risk
ļ Focus on cash generation over volume
IMPROVING FINANCIAL PERFORMANCE
ļ Lower FOB unit cash cost to less than $30 per tonne in 2016
ļ Breakeven target of ~$40 per tonne (CFR China)
ļ Lower capital cost over life of mine
SISHEN
The strategic redesign created the ability to react to market conditionsā¦
ā¦with lower production to drive improved financial performance
18. 18
Now approaching 75% of design capacity with lower forecast FOB cash cost ā¦
...however near term production guidance reduced.
PRODUCTION VOLUMES (MILLION WET TONNES)
ļ All system components have demonstrated
performance at full capacity
ļ 1.3mt produced in November
ļ Continuous licensing process with increasing
complexity
ļ Continuous engagement with authorities in Brazil
ļ FOB unit cost outlook:
ā¢ ~$26-$28/wet tonne at full capacity, average for
the next 22 years (previously $28-$30/t)
2014 2015 2016 2017 2018
Full
capacity
26.5mt
21-23mt
~10mt
0.7mt
MINAS RIO
18-21mt
Production outlook
affected by confined
mining area due to
licensing constraints
19. 19
COST PERFORMANCE
We have achieved a meaningful improvement in unit costsā¦
Notes: Methodology (from externally disclosed data): Cu equ. unit cost = (Revenue ā EBITDA) / (Revenue / Cu price)
Peers are Rio Tinto, BHP and Glencore. BHP excludes South32 historically. Glencore is based on Metals & Mining
Industrial division only. Anglo American excludes OMI (Scaw, Amapa and LafargeTarmac) disposed assets historically.
Source: Externally reported data.
INDEXED UNIT COST (FY2012 = 100)
100100100100
9293
91
85
84
86
89
80
83
7979
71
50
60
70
80
90
100
Peer 2Anglo AmericanPeer 1 Peer 3
-21%-29% -17%-22%
2014
2012
2013
H1 2015
20. 20
COST PERFORMANCE
We have achieved a meaningful improvement in unit costsā¦
ā¦and target significant further cost reduction during 2016 (and again in 2017).
Notes: Methodology (from externally disclosed data): Cu equ. unit cost = (Revenue ā EBITDA) / (Revenue / Cu price)
Peers are Rio Tinto, BHP and Glencore. BHP excludes South32 historically. Glencore is based on Metals & Mining
Industrial division only. Anglo American excludes OMI (Scaw, Amapa and LafargeTarmac) disposed assets historically.
Source: Externally reported data.
INDEXED UNIT COST (FY2012 = 100)
100100100100
9293
91
85
84
86
89
80
83
7979
71 70
50
60
70
80
90
100
Peer 3Peer 2
-29% -30% -17%-21%
Anglo AmericanPeer 1
2014
H1 2015
2012
2013
2016
2016
Target
21. 21
WORLD CLASS RESOURCES TO WORLD CLASS BUSINESSES
ļ High quality assets with significant upside operating potential
ļ $2.1 billion target of further improvements in 2016 and 2017
ļ Delivering material improvements in operating performance
23. 23
MARKET UPDATE
Global diamond jewellery demand hit a record $81 billion in 2014ā¦
ā¦and is expected to be marginally lower in 2015
2014 MARKET SHARE
(%)
32%
5%
8%
14%*
42%
POLISHED WHOLESALE MARKET
(LOCAL CURRENCY % YOY)
POLISHED WHOLESALE MARKET
(US$ % YOY)
2014A
0%
-11%
-1%
5%
7%
2015F
-8%
-14%
-11%
1%
6%
* Mainland China, excluding Hong Kong and Macau
6%
7%
1%
3%
6%
2014A
4%
2015F
-6%
-1%
JapanUSA IndiaChina
Global
+3% -1% to -2%
24. 24
MIDSTREAM UPDATE
The challenges in the diamond market predominantly lie in the midstreamā¦
ā¦and will steadily be resolved in time.
Lower consumer demand in
Q4 2014 leads to slower
retailer restocking
Grading labs overcome
backlog, releasing more
polished
Excess polished stock at retail,
especially in China
Working capital and
profitability challenges among
cutters and polishers
Less (and more expensive)
bank financing of rough sales
High midstream polished and
rough inventories, and less
manufacturing
Leads to distressed selling in
midstream, resulting in
polished price decline
Falling polished prices lead to
slower retailer buying (and
vice versa)
Bankruptcies of rough and
polished traders lead to lack of
confidence
25. 25
PRODUCTION UPDATE
ā¦but retaining flexibility, if required, to meet increased demand
~2932 - 3432.6
Carats(millions100%basis)
DE BEERS PRODUCTION BY COUNTRY, 2014-2015F
2014 2015
original
forecast
2015
production
updates
2015F
CanadaNamibia South AfricaBotswana
Front of the Venetia Red Area Tailing Treatment plant
Considerable additional investment in diamond marketingā¦Pullback in production globally in response to midstream challengesā¦
26. 26
Downstream
ā¢ Significant increase in advertising spend
ā¢ Initiatives to stimulate consumer demand
Midstream
ā¢ Lowered rough prices
ā¢ Increased flexibility to sightholders
Upstream
ā¢ Lowered production
ā¢ Cost reduction programme
DE BEERS INTEGRATED RESPONSE
A series of initiatives through the value chainā¦
ā¦to help address midstream challenges.
27. 27
INTEGRATED RESPONSE: DOWNSTREAM
Considerable additional investment in diamond marketingā¦
ā¦to stimulate consumer demand for the key holiday selling seasons
āThe Oneā
campaign
ļ Reintroduction of āA Diamond is Foreverā into our Forevermark marketing in the US
ļ New Christmas ad campaign, āItās a long journey to become The Oneā focuses on
the sourcing, selection, cutting and polishing of the worldās most beautiful
diamonds (US and India). āLive love todayā campaign launched in China
ļ Focused on TV, print and digital
āSeize the
Dayā
campaign
ļ To stimulate diamond jewellery purchases over the key holiday selling season
ļ Campaign focused across US and China
ļ Campaign tailored to connect diamond gifting with Christmas, New Year (especially in the US)
and Chinese New Year
ļ ~$20m incremental marketing spend (c.20% increase), focused on digital, social media, print,
newspaper and outdoor
28. 28
INTEGRATED RESPONSE: MIDSTREAM
Recognising current market challengesā¦
ā¦we have responded with action on price and flexibility.
3.0
5.4
8.6
Q2
Q1
Q3
2015 quarterly sales volumes (Mct)
Note: carats sold based on GSS global sales volumes (100%)
YTD 2015 price movements July 2011 to present price movements
Financing Profitability
Inventory
indigestion
Confidence
S9S8S7S10 S6S5S4S3S2S1
De Beersā View of Polished Prices
De Beers Rough Prices
-23%
-28%
-8%
-15%
29. 29
INTEGRATED RESPONSE: UPSTREAM
Focus on volume and cost across our assetsā¦
ā¦translates into significant cost savings, without losing flexibility
Debswana
ļ Production reduced to ~20Mcts for 2016 and average
mix being improved by less production at Orapa and
more at Jwaneng
ļ Orapa Plant 1 and Damtshaa Mine on care and
maintenance
South Africa
ļ Kimberley sale announced
ļ Venetia tailing treatment plant turned down and open-
pit production curtailed in 2016
Canada
ļ Snap Lake on care and maintenance from end 2015
Namdeb Holdings
ļ Extended in-port for our largest vessel and reduced
(planned) mining grade from other vessels
ļ Wet Infield Screening Plant at Elizabeth Bay to be
closed in 2016
Production outlook for 2016
2015F2014 2016F
32.6
~29
26 - 28
Production guidance (million carats 100% basis)
30. 30
CASH SAVING PLAN
Implementation of permanent cash savings planā¦
ā¦to deliver more than $200m cost benefit in 2016
MINING PRODUCTION &
WASTE COSTS
FIT FOR PURPOSE
MIDSTREAM & DOWNSTREAM
OPERATIONS
ELEMENT SIX
EXPLORATION
CAPEX
Saving due to greater efficiency and mining to demand. Cost
per carat down from $111 in 2014 to $101 in 2016 despite
production cuts
Significant headcount reduction (more than 1,500 from
Canada, South Africa and Element Six alone)
Restructuring and operating model benefits introduced to be
more customer focussed
Closure of Sweden plant, restructure of South Africa plant
and support structure reorganised
Slimmed down: focused on three countries, reducing spend
to c$35m in each of 2015 and 2016
Expected to drop by ~$200m to $500m in 2017
33. 33
0
5
10
15
20
25
30
20142012200820062004200219981994 1996 201019881982 19841980 1990 20001986 1992
THE LONG TERM STORY IN DIAMONDS
Polished diamond market has historically bounced back from periods of weaknessā¦
ā¦we remain confident of the long-term future.
Growth in Consumer Demand at Polished Wholesale Price ā US$Bn
Source: Internal De Beers analysis
Consumer demand (Nominal US$ PWP)
US
Recession
US
Recession
US
Recession
US
Recession
Asia/
Japan
Crisis
35. 35
BALANCE SHEET ACTIONS AND LINES OF DEFENCE
Our focus remains on delivering against management actionsā¦
ā¦in addition to changing our dividend policy.
MANAGEMENT ACTIONS
DIVIDEND
Maintain Liquidity
Cash Flow Improvement
Disposals
Dividend
Capex
1
2
4
5
3
ļ¼
ļ¼
ļ¼
ļ¼
ļ¼
ļ Liquidity maintained through cash and
committed bank facilities
ļ Dividend suspended
ļ Upon re-instatement, move to āPay Outā ratio policy
FOCUS AREASACTIONS
ļ Operational turnaround, overheads downsizing
ļ Close/C&M cash negative assets
ļ Completion of major projects
ļ Optimise SIB capex
ļ Completed/announced: Lafarge-Tarmac, AA Norte
and Rustenburg.
ļ Progressing: Niobium and Phosphates, Australian
Thermal Coal, SA Domestic Coal.
36. 36
LIQUIDITY AND NET DEBT POSITION
ā¦with limited near term debt maturities.
8 7 ~7
2014
17
2015F
15 ~15
2013
3.4
2.6
1.6
20182016 2017
LIQUIDITY ($BN)
DEBT MATURITY PROFILE (BONDS, $BN)
Undrawn facilities
Cash ļ Target investment grade rating.
ļ Limited impact of downgrade:
ā¢ Bonds contain no margin step ups
ā¢ No incremental interest cost in the near term
ā¢ $5bn RCF ratings grid margin increase (maximum
+$1.8m p.a. commitment fees as facility undrawn)
We have maintained significant levels of liquidityā¦
Baa2 (negative outlook)
BBB- (stable outlook)
37. 37
COMMITTED FACILITIES
ā¦with over 35 long term relationship banks.
The Group has significant committed bank facilitiesā¦
(1) As at 30 June 2015
(2) Also available is ZAR9.1bn intercompany facility provided by Anglo American SA
Finance Limited. Expires Nov 2017.
(3) SIOC is Sishen Iron Ore Company which in turn owns Sishen and Kolomela. Kumba
holds an effective 73.9% of SIOC.
SA SUBSIDIARY COMMITTED FACILITIES
(ZARBN)(1)
ļ Core $5bn revolving credit facility is undrawn
ā¢ Matures April 2020
ā¢ No financial covenants
ā¢ No material adverse change clause
ļ Recently signed additional $0.4bn of bilateral facilities on
same terms
ļ Platinum debt covenants based on maximum net debt/tangible
net worth ratios and minimum tangible net worth values
ļ SIOC debt covenants based on Gross Debt:EBITDA and
EBITDA:Interest expense ratios
Total
Committed
Facilities
Maturity Net Debt
Platinum(2) 13.2 2016-18 12.9
SIOC(3) 16.5 2020 6.4
39. 39
EXCEPTIONAL CHARGES & NET DEBT GUIDANCE
Anticipated impairments mainly driven by a deterioration in market conditionsā¦
ā¦while 2015 year-end net guidance remains between $13.0 to $13.5bn.
(1) Pre-tax.
(2) Other includes anticipated impairments of metallurgical coal, platinum and other assets.
(3) Spot prices as at 4th December 2015
$ (bn)
H2 2015 (1)
Loss on disposal of AA Norte ~0.3
Impairment - Rustenburg ~0.7
Impairment - Snap Lake ~0.7
Other (2) ~2.0 - 3.0
Anticipated range ~3.7 to 4.7
2015 NET DEBT GUIDANCE
ļ 2015 year end forecast of $13.0-13.5bn
unchanged since half-year, despite collapse in
commodity prices.
2016 CASH FLOW GUIDANCE
ļ At spot prices(3) and FX we expect free cash flow
after capex to be negative ~$1.0bn
40. 40
FOCUSING THE PORTFOLIO
ā¢ Lower aggregate cost curve position: stronger cash flow generation
through the cycle
ā¢ Reduced complexity and resulting overhead savings: step-change in
EBITDA margin
ā¢ Balanced geographical exposure across Southern Africa and Latin
America
ā¢ Greater focus on late cycle commodities
ā¢ Large resource base and brownfield growth optionality
Objectives for the Portfolio
42. 42
COMMODITY STRATEGIESā¦ITāS ABOUT THE ASSETS
Our commodity positioning is about providing opportunities to develop Priority 1 assetsā¦
...and having the ācritical massā to develop those Priority 1 opportunities.
Market position and low cost operations support margin growth.
Develop endowment potential from Priority 1 asset positions.
Repositioning portfolio to occupy the bottom half of cost curve.
Only low cost operations producing premium quality products.
Focus on margins (quality and costs) as a niche market player.
De Beers
Copper
Platinum
Coal
Iron Ore
Barro Alto costs down 40%ā¦regional infrastructure opportunities.Nickel
43. 43
THE PLAN
We have accelerated the drive towards a streamlined asset portfolioā¦
ā¦and the detail will be articulated at Results Day.
PORTFOLIOā¦focus on āPriority 1ā assets.
ļ A leaner portfolio with a high quality core will improve our cash flow resilience and investment quality.
OPERATIONSā¦efficiency target for 2016 of $1.1bn and additional target of $1.0bn for 2017.
ļ Operating costs and productivity improvements of $1.1bn in 2016 ā includes $300m indirect cost reduction underway.
ļ Targeting an additional $1.0bn operating cost and productivity improvements in 2017 ā technical focus.
ļ Closure/Care & Maintenance of cash negative assets e.g. Thabazimbi (closure) and Snap Lake (C&M).
BALANCE SHEETā¦targeting net debt reductions in 2016.
ļ Capital expenditure revised down an additional ~$1bn in 2015 and 2016.
ļ Dividend suspended and policy change to pay-out ratio on resumption.
ļ Disposal target increased to US$4bn (+US$2bn targeted 2016/17) ā (e.g includes Niobium/Phosphates).
ORGANISATIONā¦continuing restructuring reflecting portfolio changes.
ļ Coal/Iron ore consolidated into Bulk Commodities ā Minas-Rio (Jan. 16) and Kumba (H2 2016).
ļ Base Metals/Platinum consolidated into Industrial Metals.
ļ Functional structure to be implemented through 2016 ā supporting further āindirect costsā reduction strategy.
44. 44
IN SUMMARY ā DRIVING CHANGE, DEFINING OUR FUTURE
We are embarking on a fundamental restructuring planā¦
ā¦to create a streamlined and tighter portfolio ā 2016 a year of radical change.
RESTRUCTURE OF CORE PORTFOLIO
ļ Focus on āPriority 1ā assets that deliver reliable cash and returns
ļ Large scalable resources primarily positioned in/or moving to Q1 of cost curve
ACCELERATE THE BUSINESS IMPROVEMENTS
ļ Up to $3.3bn further cash improvement from costs, productivity and capex in
2016/17
ļ Scope for further overhead savings from consolidating divisional structures and
moving to functional organisation
46. 46
PRODUCTION OUTLOOK(1)
2014 2015F 2016F 2017F 2018F
Copper (2) 748kt 680-710kt 600-630kt 590-620kt 630-680kt
Nickel 37kt 28-30kt 45-47kt
Previously 40-45Mt
42-45kt 45-47kt
Iron ore (Kumba)(3) 48Mt ~43Mt ~37-39Mt
Previously 47Mt
~39-40Mt
Previously 49Mt
~39-40Mt
Iron ore (Minas-Rio) 0.7Mt ~10Mt 18-21Mt
Previously 24-26Mt
21-23Mt
Previously 24-26Mt
26.5Mt
Metallurgical coal 21Mt 20-21Mt 21-22Mt 24-25Mt 23-24Mt
Thermal coal(4) 29Mt 28-30Mt 28-30Mt 28-30Mt 28-30Mt
Platinum(5) 1.8Moz 2.3-2.4Moz 2.3-2.4Moz
Previously 2.4-2.5Moz
2.4-2.5Moz
Previously 2.5-2.6Moz
2.5-2.6Moz
Diamonds 32.6Mct ~29Mct 26-28Mct
(1) All numbers are stated before impact of potential disposals.
(2) Copper business unit only. On a contained metal basis. Reflects impact of AA Norte disposal and closure of Collahuasi oxides (combined 40kt impact in 2015 and 120ktpa thereafter).
(3) Excluding Thabazimbi in 2014 and 2015.
(4) Export South Africa and Colombia.
(5) Produced ounces. Increases reflect additional production from JVs and third parties.
48. 48
COST AND PRODUCTIVITY DELIVERED TO DATE AND TARGETED
Note: differences are du to rounding to nearest $0.1bn.
Split by BU ($bn) 2013 to 2015 2016 Total
Coal 1.2 - 1.2
Copper 0.5 0.1 0.6
Exploration 0.3 0.1 0.3
KIO - 0.2 0.2
IOB - (0.1) (0.1)
NNP - 0.3 0.2
Platinum 0.2 0.1 0.2
De Beers (0.7) 0.4 (0.2)
Corporate & Other 0.1 0.1 0.2
TOTAL $1.6bn $1.1bn $2.7bn
49. 49
DEBT MATURITY PROFILE AT 30 JUNE 2015
Euro Bonds US$ Bonds Other Bonds
BNDES
Financing
Subsidiary
Financing
De Beers
% of portfolio 48% 28% 8% 8% 7% 1%
Capital markets 84% Bank 16%
DEBT REPAYMENTS ($BN) AT 30 JUNE 2015
US bonds
Euro bonds
Other bonds (e.g. AUD, ZAR, GBP)
De Beers
Subsidiary financing (e.g. Kumba, Platinum)
BNDES financing
0.1
1.9
2.9
3.6
2.0
4.3
1.9 1.7 1.8
H2 2015 2016 2017 2018 2019 2020 2021 2022 2023+