The fall in coal profits on last year was attributed to lower export prices and export sales volumes, and challenging operating conditions at some mines.

 

The stars of Anglo’s operating profit, up 54%, were platinum, base metals, ferrous metals and gold.

 

In Australia, work has continued at Anglo’s $835 million Dawson project, which is planned to reach full production in 2007. The mine is expected to produce an additional 12.7 million tonnes per annum for export markets.

 

Construction has also begun on the $516 million Lake Lindsay Greenfield project at the German Creek mine which will produce 3.7Mt of metallurgical coal and 300,000t of thermal coal annually by 2008. Most of the coal will be bound for Pacific Rim markets.

 

In South Africa, development of the Mafube mine has started following the granting of prospecting rights, while the Isibonelo project, which supplies 5Mtpa to Sasol, reached full production in 2006.

 

In Colombia, the first phase of the expansion to 28Mtpa at the Cerrejón mine reached completion and a second expansion to 32Mtpa is already underway.