Anglo American’s steelmaking coal production decreases by 49%
Steelmaking coal production decreased by 49% to 2.4 million tonnes in Q4 2024, primarily impacted by the suspension of mining at the Grosvenor longwall operation following the underground fire on 29 June 2024. Excluding the impact of Grosvenor, production from the rest of the portfolio decreased by 35%, primarily as a result of the planned longwall move at Moranbah, and the agreed sale of Jellinbah, where the benefits of production from 1 November 2024 no longer accrued to Anglo American.
Anglo American’s attributable share of Jellinbah is 23.3%. Anglo American agreed the sale of its 33.3% stake in Jellinbah in November 2024, and this transaction completed on 29 January 2025. Production and sale volumes from Jellinbah post 1 November 2024, after the sale was agreed, have been excluded from the Group’s production report. Jellinbah production in November and December 2024 (not disclosed within the reported numbers) was 0.6Mt.
The ratio of hard coking coal production to PCI/semi-soft coking coal was 64:36 during the quarter, lower than Q4 2023 (80:20), reflecting lower hard coking coal production from the Moranbah and Grosvenor underground operations.
The full year average realised price for hard coking coal was $241/tonne, compared to the benchmark price of $240/tonne. This reflects an increase in the price realisation to 100% (2023: 91%). This higher realisation is primarily due to a higher proportion of tonnes being shipped in the first half of the year when prices were higher compared to the second half of the year when prices were lower.
Positive progress continues to be made at Grosvenor, with imagery from purpose-built cameras lowered into strategic points of the mine showing limited damage underground. Pending regulatory approval, we are working towards re-entry to access critical infrastructure points and validate the imagery from the cameras.
As previously announced here, Anglo American has entered into definitive agreements to sell the entirety of its Steelmaking Coal business for up to $4.9 billion in gross aggregate cash proceeds, subject to relevant approvals, with the Peabody transaction expected to close in Q3 2025.
2025 Guidance
Production guidance for 2025 is revised to 10-12 million tonnes (previously 17-19 million tonnes), as it excludes Grosvenor given the operation remains suspended, and production from Jellinbah(1). There are no planned longwall moves at Moranbah in 2025. A walk-on/walk-off longwall move at Aquila, that will have a minimal production impact is planned for late Q3 2025.
