Anglo American Annual Report 2012

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HeadquartersLondon,United KingdomCorporate andrepresentative officesBeijing, ChinaBelo Horizonte, BrazilBrisbane, AustraliaJohannesburg, South AfricaKinshasa, DRCLuxembourgMaputo, MozambiqueNew Delhi, IndiaRio de Janeiro, BrazilSantiago, ChileSão Paulo, BrazilSingaporeUlan Bator, MongoliaNorth AmericaSouth AmericaAfricaAustralia and AsiaIron Ore and ManganeseMetallurgical CoalThermal CoalCopperNickelPlatinumDiamondsOther Mining and IndustrialUnderlying operating profit$ millionIron Ore and Manganese: 2,949Metallurgical Coal: 405Thermal Coal: 793Copper: 1,687Nickel: 26Platinum: (120)Diamonds: 496Other Mining and Industrial: 337Exploration: (206)Revenue by origin:EuropeGlobal total: $32,785 million$2,235 mCorporate: (203)Total: $6,164 millionNet segment assets$ millionIron Ore and Manganese: 9,356Metallurgical Coal: 5,219Thermal Coal: 1,965Copper: 8,536Nickel: 2,509Platinum: 10,419Diamonds: 12,944Revenue by origin:Australia and AsiaGlobal total: $32,785 million$4,616 mOther Mining and Industrial: 786Exploration: 4Corporate: (285)Total: $51,453 millionRevenue by destination$ millionRevenue by origin:South AfricaGlobal total: $32,785 million$14,592 mSouth Africa 3,115Other Africa 715Brazil 1,093Chile 1,241Other South America 46North America 1,274Europe 8,846China 5,927Incorporating:Australia 340India 2,544Japan 4,049Other Asia 3,595Total 32,785
PERFORMANCE HIGHLIGHTS CONTENTSOverviewSAFEGUARDINGVALUEWITH THE FUTURE IN MINDDIVIDENDS PER SHARECents2008Nil2009Nil2010201125282012 32CAPITAL EXPENDITURE$ bn20082009201020112012NET DEBT$ m20082009201020111,37420127,384408,615444.8465.35.0535.85.711,34011,280UNDERLYINGOPERATING PROFIT(2011: $11.1 bn)$6.2 bnUNDERLYING EARNINGS(2011: $6.1 bn)$2.8 bnUNDERLYING EARNINGSPER SHARE(2011: $5.06)$2.26(LOSS)/PROFITATTRIBUTABLE TO EQUITYSHAREHOLDERS(2011: $6.2 bn)$(1.5) bnUnderlying operating profit includesattributable share of associates’ operatingprofit (before attributable share ofassociates’ interest, tax, and non-controllinginterests) and is before special items andremeasurements, unless otherwise stated.See notes 2 and 4 to the financial statementsfor operating profit. For definition of specialitems and remeasurements, see note 5 tothe financial statements. See note 13 to thefinancial statements for the basis ofcalculation of underlying earnings.‘Tonnes’ are metric tons, ‘Mt’ denotesmillion tonnes, ‘kt’ denotes thousand tonnesand ‘koz’ denotes thousand ounces;‘$’ and ‘dollars’ denote US dollars and‘cents’ denotes US cents.Net debt includes related hedges and netcash in disposal groups. See note 31 to thefinancial statements.Overview02 Chairman’s statement04 Marketplace08 Our strategy and business model10 Chief Executive’s statementOperating and financial review12 Key performance indicators (KPIs)14 Strategy in action36 Resources and technology42 Group financial performance48 Risk54 Iron Ore and Manganese60 Metallurgical Coal64 Thermal Coal68 Copper72 Nickel76 Platinum82 Diamonds86 Other Mining and IndustrialGovernance90 Introduction92 The Board94 Executive management96 Role of the Board98 Board in action104 Audit Committee report108 Directors’ remuneration report128 Directors’ report134 Statement of directors’ responsibilitiesFinancial statements136 Responsibility statement137 Independent auditor’s report138 Principal statements142 Notes to the financial statementsOre Reserves and Mineral Resources191 Introduction192 Summary196 Iron Ore199 Manganese200 Coal208 Copper213 Nickel214 Platinum Group Metals217 Diamonds222 Phosphate products223 Niobium224 Reconciliation overview228 Definitions229 GlossaryOther information231 Production statistics235 Quarterly production statistics236 Exchange rates and commodity prices237 Summary by business operation238 Key financial data239 Non-financial data240 Reconciliation of reported earnings242 The business – an overview244 Shareholder informationIBC Other Anglo American publicationsAnglo American plc Annual Report 2012 01
Page 1 and 2: A BALANCEDPORTFOLIOWITH THE FUTURE
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GOVERNANCE INTRODUCTIONGOVERNANCESi
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GOVERNANCE THE BOARDTHE BOARDCHAIRM
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GOVERNANCE ROLE OF THE BOARDTHE ROL
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GOVERNANCE AUDIT COMMITTEE REPORTAU
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GOVERNANCE STATEMENT OF DIRECTORS
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FINANCIAL STATEMENTSRESPONSIBILITY
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FINANCIAL STATEMENTS PRINCIPAL STAT
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ORE RESERVES AND MINERAL RESOURCESE
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OTHER INFORMATION PRODUCTION STATIS
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OTHER INFORMATION PRODUCTION STATIS
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OTHER INFORMATIONEXCHANGE RATES AND
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OTHER INFORMATIONKEY FINANCIAL DATA
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OTHER INFORMATIONRECONCILIATION OF
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OTHER INFORMATIONTHE BUSINESS - AN
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OTHER INFORMATIONSHAREHOLDER INFORM
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Anglo American plc20 Carlton House
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