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Quarterly Report June 2018
"We delivered record annual production at Australia Manganese and Mozal Aluminium, increased payable nickel production at Cerro Matoso by 20 per cent and finished the year on a strong note at the remainder of our operations.
"We are actively reshaping our portfolio and are now managing South Africa Energy Coal as a
stand-alone business, allowing us to simplify the Group, lower overhead costs and fundamentally change the way we work.
"We also entered into conditional agreements to acquire the remaining 83 per cent of Arizona Mining Inc. that we don't already own and a 50 per cent interest in the Eagle Downs metallurgical coal project.
"In accordance with our disciplined capital management framework, we purchased a further 98 million shares in FY18 for a cash consideration of US$254 million. At year end we had completed US$620 million of our approved US$1 billion capital management program."
and
Achieved record performance at Australia Manganese and a 10% increase in total manganese ore production in FY18 as we continued to take advantage of stronger demand and pricing.
Delivered another production record at Mozal Aluminium in FY18 while South Africa Aluminium finished the year strongly, testing its maximum technical capacity in the June 2018 quarter.
Increased payable nickel production at Cerro Matoso by 20% in FY18 as ore grades temporarily improved following the successful ramp up of La Esmeralda.
Progressed through a higher grade stope sequence at Cannington in the June 2018 quarter with payable silver, lead and zinc production increasing by 37%, 33% and 45%, respectively.
Benefitted from an uplift in calciner availability and a drawdown of hydrate stocks at Worsley Alumina with production increasing by 7% in the June 2018 quarter.
Exceeded revised FY18 production guidance at Illawarra Metallurgical Coal with an annualised mining rate of more than 6Mt achieved throughout the month of June.
Started managing South Africa Energy Coal as a stand-alone business in the June 2018 quarter with the associated restructuring costs to be recorded in our FY18 financial results.
Entered into conditional agreements to acquire Arizona Mining Inc. (TSX:AZ) and a 50% interest in the Eagle Downs metallurgical coal project, with both transactions expected to close in the December 2018 half year.