2009 年对于采矿业是极不寻常的一年，对于

英美资源集团更是充满了巨大挑战和变化。

2009 年初，全球经济在经历了 2008 年的动荡

之后继续充满着不确定性。但我很高兴地告诉

大家，我们在低迷期采取的一系列果断措施取

得了显著的成效。到 2009 年末，在中国和印

度这两大新兴经济体为主导的推动下，随着需

求的恢复，世界市场重拾信心，许多商品的价

格稳步升高。

如今的英美资源集团作为一个跨国矿业公司，

更加注重其经营业绩。我们已经制定了明确

的战略，要加倍努力实现我们的目标——成

为矿业领域的最佳投资者、合作伙伴和雇主。

从中、长期来看，采矿业前景光明，随着在经

济转型中，新兴国家经济的快速增长，市场对

商品的需求将持续强劲。因此，我们预计中国

将会继续更新和发展基础设施，同时，印度和

巴西都具有长期的的经济增长潜力，这将成为

集团发展的未来动力。这些新兴经济体规模巨

大，有利于推动消费的强劲增长，同样也将带

动铂族金属和钻石的需求增长。

2009 年，强大的刺激政策以及库存周期的转

折促成了工业的反弹，但这些措施的积极效果

在 2010 年已经开始逐渐消失，发达经济体受

到的经济阻力尤为明显，因为这些经济体的负

债状况制约了需求。与此相比，新兴经济体的

经济前景却一片光明，中国和印度的经济极有

可能继续强劲的增长势头。然而，由于外部环

境的恶化和国内通胀的加剧，经济下滑也成为

一个潜在威胁。

2009 was another extraordinary year for the mining industry and one of great change and significant impact for Anglo American. The early part of the year saw a continuation of the very considerable global economic uncertainty that engulfed the world in late 2008, though I am pleased to report that the decisive measures we put in place to position the Group through the downturn were certainly effective. As the year progressed, varying degrees of confidence returned to the world markets and the prices of many commodities increased steadily in line with demand recovery, continuing to be driven principally by the emerging economies of China and India.

Anglo American is now a more focused and performance oriented international mining company. We have a clear strategy in place and are driving harder than ever in pursuit of our ambition of being the investment, partner and employer of choice in the mining industry.

The medium and long term outlook for the mining industry remains strong. Demand for commodities is expected to remain robust with the continuing shift in the pattern of economic growth towards fast-growing emerging economies. In order to sustain its growth potential, we anticipate that China will continue to upgrade and develop its infrastructure, while the longer term potential of India and Brazil is expected to provide further support. These economies also have the greatest scope for strong consumer spending growth, the principal long term demand driver for platinum group metals and diamonds.

In 2009, huge policy stimulus and a turn in the inventory cycle drove the rebound

柯欣雅 首席执行官

Cynthia CarrollChief Executive

我们的结构调整与战略Aligning the organisation with our strategy

in industrial activity. In 2010, the positive effects of these factors began to fade. The economic headwinds are most noticeable in the advanced economies, where continuing balance sheet repair will constrain demand prospects. However, the outlook for the emerging economies is much brighter. China and India are likely to grow strongly, though the potential for setbacks remains as a weak external environment combines with intensifying domestic inflation pressures.

www.angloamerican.com.cn

英美资源集团全球领先的多样化矿产和自然资源集团

One of the world’s largestdiversified mining and natural resource groups

2010/11

铂金

Platinum业务介绍：• 全球领先的铂金生产商，占全球新开采铂金产量的 40% • 经营地在南非

Business summary:• The world’s leading primary producer of platinum, accounting for around 40%

of newly mined platinum output • Operations based in South Africa

英美资源集团概述Anglo American group overview

我们的业务 / Our businesses

贵金属 Precious

布里斯班Brisbane

北京Beijing

约翰内斯堡Johannesburg

伦敦London

卢森堡Luxembourg

新德里New Delhi

里约热内卢Rio de Janeiro

圣地亚哥Santiago

圣保罗São Paulo

钻石

Diamonds业务介绍：• 英美资源拥有戴比尔斯 45% 权益• 戴比尔斯钻石产量价值占全球 40%，是全球最大的宝石级毛坯钻供应商和营销商

Business summary:• Anglo American owns 45% of De Beers • De Beers produces about 40% of the world’s diamonds by value and is the

world’s largest supplier and marketer of rough gem diamonds

铜

Copper业务介绍：• 目前铜矿主要产自位于智利的六个矿山• 已获批的 Los Bronces 矿（智利）扩建项目将使集团铜产量极大地增加

Business summary:• Six operations in Chile account for the majority of current copper output• Significant future growth from approved expansion at Los Bronces (Chile)

有色金属 Base

镍

Nickel业务介绍：• 主要矿山位于巴西和委内瑞拉• 巴西的 Barro Alto 项目到 2012 年产量将翻倍

Business summary:• Major operations in Brazil and Venezuela• Barro Alto project in Brazil is expected to more than double nickel production

by 2012

大宗产品 Bulk

动力煤

Thermal Coal业务介绍：• 动力煤业务主要由南非管理• 动力煤从南非、南美和澳大利亚出口，供应给地中海—大西洋市场及印度洋—

太平洋市场的客户

Business summary:• Thermal Coal operations managed out of South Africa• Coal is exported from South Africa, South America and Australia throughout

the Med-Atlantic and Indo-Pacific markets

其它矿业和工业

Other Mining and Industrial业务介绍：• 资产包括：泰玛士、Scaw Metals、Copebrás、Catalão、Peace River 煤炭及

公司在 Carbones del Guasare 的煤炭资产• 共占集团 2009 年利税折旧摊提前利润的 13% 左右• 对这些业务的剥离准备工作已经开始Business summary:• Assets include: Tarmac, Scaw Metals, Copebrás, Catalão, Peace River Coal

and the Group’s share in the Carbones del Guasare coal assets• Accounted for approximately 13% of 2009 Group EBITDA• Preparatory work for the separation of these businesses has commenced

这是我任职英美资源集团董事长的第一年，很

高兴能在市场如此动荡的年份交上一份优秀

的业绩报告。我们集团正以极佳的状态应对未

来的挑战：我们有杰出的优质资产和项目组

合、明确的目标、精简高效的组织机构，以

及充足的运营资金。我们的董事会已经重组，

现正充满激情，坚定地执行我们的既定战略并

创造价值。

明确战略创造价值

2009 年，我们为股东创造更多价值而采取的

措施收到了显著成效。其中的一个重要举措是

我们实施了资产优化计划；另外一个是整合供

应链，使之适合于集团规模；并且通过与关键

供应商建立全球战略合作伙伴关系，实现了成

本节约。此外，集团进行了意义深远而大胆的

结构重组，使集团组织更加高效。

安全

没有良好安全记录的公司决不是真正优秀的公

司。作为新任董事长，我想明确地告诉大家，

安全一直都是我工作中的头等大事，我将不遗

余力地予以重视。值得高兴的是，英美资源集

团的安全记录取得了进一步的改进，2009 年，

集团因工事故死亡的人数大幅减少，同时，造

成工时损失的工伤事故也同样呈下降趋势。

可持续发展

在进行业务经营活动的过程中承担对社会和环

境的责任、获取信赖是我们经营的基础，也是

我们为投资者创造长期价值的基础。 在 2009

年，我们继续将可持续发展的理念融入到我们

的业务中，发布了两项重大政策：《英美资源

环境之路》和《英美资源社会之路》。我们按

照《英美资源社会之路》中的标准对集团的社

会表现进行了评估，发现了很多最佳案例，也

找到了不足之处。对此，我们计划在下一年使

所有项目达到《英美资源社会之路》标准，消

除实践和标准之间的差距。

信守我们的承诺Delivering on our commitments

裴克强爵士董事长

Sir John Parker Chairman

基本信息：总部位置：英国伦敦员工数量：107,000 正式员工公司业务部门：铂金、钻石、铜、镍、铁矿石和锰、冶金煤、动力媒、其它矿业和工业上市情况：伦敦，约翰内斯堡（第二上市）营业利润 (2009)：50 亿美元盈利 (2009)：25,69 亿美元

Key Facts:Headquarters: London, United KingdomNumber of employees: 107,000 permanent employeesBusiness units: Platinum, Diamonds, Copper, Nickel, Iron Ore and Manganese, Metallurgical Coal, Thermal Coal, Other Mining and IndustrialStock exchange listings: London and Johannesburg (secondary)Operating profit (2009): $5.0 billionEarnings (2009): $2,569 million

英美资源是世界最大的矿业公司之一，其核心业务覆盖

贵金属、有色金属和大宗矿产品，主要矿山位于南部非

洲、澳大利亚、巴西和智利。

Anglo American is one of the world’s largest diversified mining groups, producing precious, base and bulk commodities and operating predominantly in southern Africa, Australia, Brazil and Chile.

1

In this, my first year as chairman of Anglo American, I am pleased to report on a very creditable overall performance during an extremely volatile year in our markets. The company is in very good shape to meet the challenges ahead: we have a formidable portfolio of top quality assets and projects, we are a more fit for purpose and lean organisation, our business is adequately funded, our Board has been refreshed and we are enthusiastically executing our clear strategy for delivering value.

A clear strategy for delivering valueIn 2009, we increasingly reaped the benefit from initiatives we put in place to create greater shareholder value. An important element is our asset optimisation programme and another significant initiative is a streamlined supply chain in order to capitalise on the scale of the Group and to deliver cost savings by forming strategic global partnerships with key suppliers. Furthermore, a far-reaching and bold restructuring of the Group has enabled it to become a more effective organisation.

SafetyNo company can ever be ranked as truly great if it has an unsatisfactory safety record. As your new chairman, I would like to state categorically that safety will have my unremitting attention as it has always been my number one agenda item. It is encouraging to report that Anglo American is making further inroads in improving its safety performance. In 2010, there was another significant decline in the number of people who lost their lives on company business, accompanied by a similar downward trend in lost-time injuries.

Sustainable developmentOperating our businesses in a socially and environmentally responsible way, and earning and deserving trust, are fundamental to our

licence to operate and to delivering long term value to our investors.

We continued to integrate sustainable development into our business processes in 2009. We launched two major policies: the Anglo Environment Way, and the Anglo Social Way. We assessed our social performance against the standards in the Social Way, identifying many examples of best practice but also some gaps which we aim to close in the coming year.

冶金煤

Metallurgical Coal 业务概述• 冶金煤业务由澳大利亚管理• 包括 20 多个矿业项目机会

Business summary:• Metallurgical Coal operations managed out of Australia• Project pipeline includes more than 20 mining prospects

铁矿石和锰

Iron Ore and Manganese业务概述• 矿山和工厂在南非、巴西和澳大利亚• Minas Rio 项目（巴西）将在 2012 年开始生产高品位的球团矿

Business summary:• Comprises operations in South Africa, Brazil and Australia• Minas Rio (Brazil) project to begin production of

high grade pellet feed in 2012

铂族金属钻石铜镍动力煤冶金煤铁矿石和锰其它矿业和工业英美资源集团办公室

PlatinumDiamondsCopperNickelThermal CoalMetallurgical CoalIron Ore and ManganeseOther Mining and IndustrialAnglo American offices

2 3

1871 年在南非金伯利发现钻石。

1886 年在南非威特沃特斯兰德发现黄金。

1888 年戴比尔斯公司成立。

1917 年南非英美资源公司成立，以开发约翰

内斯堡以东的黄金矿。公司成立时核准的 100

万英镑资金主要来自英国和美国的投资，公司

由此而得名。

1923 年在南非内尔斯特鲁姆以北的布什维尔

德杂岩区首次发现铂金。

1926 年英美资源成为戴比尔斯公司的最大

股东。

1934 年在伦敦和金伯利设立钻石贸易公司，

从事钻石销售业务。

1975 年英美资源集团的各种煤炭业务被合并

成一家公司 : 英美煤炭有限公司（Amcoal）。

1984 年戴比尔斯在中国成立合作公司，在山

东、辽宁、四川和河北省勘探钻石，勘探活动

进行了约 15 年。

1997 年英美资源的铂金业务被合并成一家公

司：英美铂金（Anglo Platinum)。

1998 年安格鲁黄金公司成立，它是由一些独

立上市的南非公司合并而成的。之后，这些公

司组成了英美资源的黄金和铀部门。

份，同时也在剥离其在造纸及纸品包装和其他

非核心领域的资产。

2007 年盟迪纸业和纸品包装公司从英美资源

分离，独立上市。英美资源在安格鲁阿山帝黄

金的股份减少至 17.3% 。英美资源集团收购

位于秘鲁的 Michiquillay 铜矿项目和巴西 MMX

公司的铁矿项目。英美资源集团与中国国家开

发银行签署谅解备忘录，宣布双方正式建立战

略合作关系，在中国、非洲以及其它地区共同

开发自然资源项目。

2008 年英美资源宣布完成收购巴西的 Minas-

Rio 和 Amapá 铁矿。

2009 年英美资源宣布出售了其拥有的剩余

11.3% 的安格鲁阿山帝黄金公司的股份。

2010 年就泰玛士在欧洲的建筑材料业务达成

了出售协议；英美资源与 Vedanta 达成协议，

以 13.38 亿美元出售其锌资产。

1999 年南非英美资源公司与 Minorco 公司合

并后成立英美资源集团，集团在伦敦证券交易

所主板上市。这次合并与英美资源集团的全面

重组相结合，共同缔造了世界最大的矿业与自

然资源公司之一。

2000 年英美资源集团并购泰玛士公司。

2001 年戴比尔斯公司结束了 113 年的上市公

司历史，成为私营公司。在新公司中英美资源

集团是最大的股东。

2002 年英美资源集团在北京设立代表处。

2003 年英美资源集团成为南非库博矿业公司

控股公司。

2004 年安格鲁阿山蒂黄金公司的合并在 4 月

完成。

2005 年英美资源集团宣布了战略评估的结

果。集团业务组合和结构进一步的合理化和简

化使集团更专注于其所经营的采矿业务，从而

更好地发挥集团的核心优势。

2006 年为了进一步集中核心业务，英美资源

集团开始出售其在安格鲁阿山帝黄金的部分股

公司简介和历史

英美资源拥有长达百年的历史，足迹遍

布六大洲，正致力于成为“全球领先的

的矿业公司”，并成为投资者、合作伙

伴及雇员的最佳选择。

1800

1900

2000

History and timeline

Anglo American has a rich history spanning over a century and across six continents. Its ambition is ‘to be the leading global mining company’ – the investment, partner and employer of choice.

1997: Anglo American platinum interests are consolidated into one company, Anglo Platinum.

1998: AngloGold is formed from the separately listed South African companies, which then made up the Gold and Uranium Division of Anglo American.

1999: Anglo American plc is established by combining the business interests of Anglo and Minorco, and has its primary listing on the London Stock Exchange. This, together with a sweeping restructuring of the Group, has created one of the world’s largest mining and natural resource companies.

2000: Tarmac is acquired by Anglo American.

2001: De Beers is privatised after 113 years as a public company, with Anglo American holding the largest stakeholding in the new company.

2002: Anglo American opens a representative office in Beijing.

2003: Anglo American acquires a controlling stake in Kumba.

2004: AngloGold Ashanti merger completed in April.

2005: Anglo American announces a rationalisation and simplification of the

1871: Diamonds discovered at Kimberley, South Africa.

1886: Gold discovered on the Witwatersrand.

1888: De Beers is founded.

1917: Anglo American Corporation (AAC) of South Africa was founded to exploit the gold deposits east of Johannesburg. The £1 million authorised capital was raised largely from British and American sources.

1923: Platinum first discovered in South Africa in the Bushveld Complex north of Nylstroom.

1926: AAC becomes the largest shareholder in De Beers.

1934: Diamond Trading Company formed as a diamond selling company based in Kimberley and London.

1975: The various Anglo American Group coal interests were merged into VEL and the merged business was then renamed Anglo American Coal Corporation Limited (Amcoal).

1984: De Beers signs a cooperative JV agreement for diamond exploration in Shandong, Liaoning, Sichuan and Hebei provinces in China to last some 15 years.

2000

Group's portfolio and structure, with an increased focus on controlled mining businesses that leverage the core skills of the Group.

2006: As part of the refocusing, a process of selling down Anglo American's holding in AngloGold Ashanti begins, as does the de-merging of the Paper and Packaging interests and other non-core assets.

2007: Mondi Paper and Packaging is listed separately. Anglo American’s holding in AngloGold Ashanti is reduced to 17.3%. Anglo American acquires stakes in the Michiquillay copper project in Peru and MMX’s iron ore project in Brazil. Anglo American and China Development Bank ("CDB") enter into a Memorandum of Understanding to establish a strategic relationship to identify and develop a pipeline of natural resource projects in China, Africa and elsewhere.

2008: Anglo American announces that it has acquired control of the Minas-Rio iron ore project and the Amapá iron ore system in Brazil.

2009: Anglo American announces the sale of its remaining 11.3% shareholding in AngloGold Ashanti Limited.

2010: Sale agreed of Tarmac’s construction aggregates businesses in Europe. Sale agreed of Anglo American’s portfolio of zinc assets to Vedanta for a total consideration of $1,338 million.

1800

1900

关于英美资源集团

P

latinumA

bout A

nglo Am

erican plc

十八世纪 70 年代开采的金伯利钻石矿Kimberley mine in the 1870s

勒斯腾堡有色金属冶炼厂Rustenburg base metal refinery

4 5

2010 年上半年业绩报告概要Financial results and highlights 2010 H1

英美资源宣布公司营业利润达到了

44 亿美元，并重新发放股息

• 集团营业利润为 44 亿美元（核心业务营业利

润为 41 亿美元）

• 集团扣除非经常性项目后利润为 22 亿美元，

集团扣除非经常性项目后的每股收益为 1.84

美元

• 可分配给股东的集团营业利润为 21 亿美元

• 截止 2010 年 6 月 30 日负债净额为 109 亿美元

• 截止 2010 年 6 月 30 日承诺未提银行存款和

现金超过 120 亿美元

运营绩效和实施战略

• 资产优化和采购流程表现超过预期，6 个月

内的核心业务收益超过 10 亿美元——资产

优化收益达 7.96 亿美元，包括一次性收益和

2.05 亿美元的采购优化收益

• 铂金业务表现明显转好，运营成本降至一半

以下，现金运营成本得到控制；全年 250 万

盎司的目标产量正按计划进行；劳动生产率

提高了 11%

• 截止目前，已通过协议的剥离资产达 22 亿美

元，包括：13 亿美元的锌资产；5 亿美元的

澳大利亚未开发煤炭资产；4 亿美元的泰玛

士欧洲业务

近期各项目进展顺利

• 年产 3.6 万吨的 Barro Alto 镍项目将按预期

在 2011 年第一季度投产，这将使镍产量增

加一倍以上

• 年产 20 万吨的 Los Bronces 铜扩产项目将按

预期在 2011 年第四季度投产

• 900 万吨产能的 Kolomela 铁矿石项目将按预

期在 2012 年第二季度投产

• 2650 万吨产能的 Minas Rio 铁矿石项目进展

良好；一些关键的行政许可还未解决，对进

度安排和资本支出造成了一定影响

• 待批准项目还有：Quellaveco铜矿项目（秘鲁，

22.5 万吨年产能）和 Grosvenor 冶金煤项目

（澳大利亚，430 万吨年产能）

A n g l o A m e r i c a n a n n o u n c e s operating profit of $4.4 billion and reinstates dividend• Group operating profit of $4.4 billion ($4.1

billion from core operations)• Underlying earnings of $2.2 billion and

underlying earnings per share of $1.84• Profit attributable to equity shareholders of

$2.1 billion• Net debt at $10.9 billion at 30 June 2010• Committed undrawn bank facilities and cash

of over $12 billion at 30 June 2010

Operational performance and strategic delivery• Asset optimisation and procurement

programmes ahead of expectations, with run rate of $1 billion from core businesses for the six month period – asset optimisation of $796 million, including one–off benefits, and procurement worth $205 million

• Platinum operational turnaround to position in lower half of cost curve – cash operating costs controlled; full year production of 2.5 million ounces on track; labour productivity increased 11%

• $2.2 billion of expected proceeds from agreed divestments announced to date: $1.3 billion sale of zinc business; $0.5 billion sale of undeveloped Australian coal assets; $0.4 billion sale of Tarmac’s European businesses

Near term growth a clear differentiator• Barro Alto 36 ktpa nickel project – to more

than double nickel production – on budget and on schedule for first production in Q1 2011

• Los Bronces 200 ktpa copper expansion on budget and on schedule for first production in Q4 2011

• Kolomela 9 Mtpa iron ore project on budget and on schedule for first production in Q2 2012

• Minas Rio 26.5 Mtpa iron ore project – good progress; key regulatory approvals remain outstanding, impacting timing and capital expenditure

• Further growth projects pending approval: Quellaveco (Peru, 225 ktpa copper) and Grosvenor (Australia, 4.3 Mtpa metallurgical coal)

截止到 2010 年 6 月 30 日财务概要百万美元（除每股收益）Highlights for the 6 months ended 30 June 2010 US$ million, except per share amounts

2010 年6 月 30 日

6 months ended 30 June 2010

2009 年6 月 30 日

6 months ended 30 June 2009

变化百分比Change

集团营业收入，包括关联企业Group revenue including associates

15,015 11,132 35%

利税折旧摊提前利润EBITDA

5,414 2,985 81%

营业活动净现金流入Net cash inflows from operating activities

2,686 1,520 77%

财务期间可分配给股东的利润Profit for the financial year attributable to equity shareholders

2,061 2,970 (31)%

每股收益（美元）Earnings per share (US$)

每股基本收益Basic earnings per share

1.71 2.47 (31)%

扣除非经常性项目后的每股收益Underlying earnings per share

1.84 0.91 102%

P

latinumA

bout A

nglo Am

erican plc

关于英美资源集团

铂金 钻石 铜 镍 铁矿石及锰

冶金煤 动力煤 其它矿业和工业

0.03

2.17

0.51

0.260.

42

2.01

1.19

1.49 1.

63

1.11

0.45

0.26

1.08

0.72

0.35

1.08

0.51

0.29

0.06

1.89

2.55

0.12

0.00

0.07

各业务部门营业利润，十亿美元Operating profit by business unit, US＄ billion

0.00

1.00

2.00

3.00 2008 2009 2010 H1

Platinum Diamonds Copper NickelIron Ore

and ManganeseIron Ore

and Manganese

Metallurgical Coal

Thermal Coal Other Mining

and Industrial

英美资源集团的利税折旧摊提前利润，十亿美元Anglo American Group’s EBITDA, US＄ billion

2003 2004 2005 2006 2007 2008 2009

4.8

7.0 9.

0

12.2

12.1

11.8

6.9

5.4

0

2

4

6

8

10

12

14

2010 H1

英美资源集团的营业利润，十亿美元Anglo American Group’s operating profit, US＄ billion

2003 2004 2005 2006 2007 2008 2009 2010 H10

2

4

6

8

10

12

14

2.6

4.7

6.4

9.8 10

.1

10.1

5.0

4.4

Share of Group’s core operating profits by business unit, ％

Platinum

Diamonds

Copper

Nickel

Iron Ore and Manganese

Metallurgical Coal

Thermal Coal

Other Mining and Industrial

铂金

钻石

铜

镍

铁矿石及锰

冶金煤

动力煤

其他矿业和工业

各业务部门占集团主营业务收入百分比

5.9％

36.5％ 1.5％

7.9％

26.5％

5.8％9.4％6.5％

P

latinum

6 7

铂金Platinum

业务概览

位于南非的英美铂金公司是世界领先的铂金生

产商，其产量占全球总产量的 40%。公司开采、

加工和精炼全系列铂族金属（PGMs）：铂、钯、

铹、钌、铱和锇。除了铂族金属，公司还生产

有色金属，如镍、铜和硫酸钴等，它们对公司

的收入也有很大的贡献。公司的矿山主要位于

南非的布什维尔德杂岩区，此地区拥有世界最

丰富的铂族金属储量。公司拥有的极佳资源可

保证其在今后多年都保持世界铂金生产的领先

地位。

全球业务

英美铂金目前在南非全资拥有九个在产矿

山、一处尾矿再处理设施、三个冶炼厂、一

个有色金属精炼厂和一个贵金属精炼厂，公

司还全资拥有津巴布韦的 Unki 项目。每个

Business overviewAnglo Platinum, based in South Africa, is the world’s leading primary producer of platinum, accounting for around 40% of global output. It mines, processes and refines the entire range of platinum group metals (PGMs): platinum, palladium, rhodium, ruthenium, iridium and osmium. In addition to the PGMs, base metals such as nickel, copper and cobalt sulphate are important secondary products and are significant contributors to earnings. Anglo Platinum’s operations exploit the world’s richest reserve of PGMs, known as the Bushveld Complex, which is located in South Africa. The company has access to an excellent portfolio of ore reserves to ensure that it is well placed to be the world’s leading platinum producer for many years to come.

Global operationsAnglo Platinum wholly owns nine mining operations currently in production, a tailings re-treatment facility, three smelters, a base metals refinery and a precious metals

P

latinum

矿都有自己的选矿厂，冶炼和精炼则通过在

勒斯滕堡铂金矿的冶金设施来进行。公司全

资拥有的铂金矿包括位于勒斯滕堡区域的

五 个 矿、Amandelbult 区 域 的 两 个 矿、 以 及

Mogalakwena 和 Twickenham 铂金矿。

战略和增长

英美铂金的战略目标是要保持其主要铂金生产

商的领先地位。因此，公司计划进一步提高生

产效率、开发铂族金属市场、扩大生产以抓住

市场增长机遇。2008 年下半年和 2009 年，北

美、欧洲和日本市场汽车销售的急剧下降导致

了前所未有的铂族金属价格大幅下跌，公司对

此采取了一系列的积极措施来降低成本、提高

生产力，同时对资本支出进行严格的审查。

英美铂金也在津巴布韦的 Great Dyke 矿带开

采铂族金属，此矿带是世界上仅次于布什维尔

德杂岩体的第二大铂金矿藏。开发和勘探集中

在该地区的包括 Unki 在内的新项目上，同时，

为了今后项目需要，正在努力扩大资源量。

铂金首饰市场需要持续的推广与开发，而英美

铂金公司是国际铂金协会的主要支持者。自

1975 年成立以来，国际铂金协会一直在推动

铂金需求和建立新的铂金首饰市场方面扮演着

重要角色。从 2000 年开始，中国业已成为世

界最大的的铂金首饰市场。

中国业务

英美资源一直非常重视中国铂金市场。随着中

国珠宝业及工业对贵金属的需求日益增长，

2009 年，中国对铂金的消费超过全球消费总

量的三分之二。

铂金

refinery. It also has 100% ownership of the Unki project in Zimbabwe. Each of its mines operates its own concentrator facilities, with smelting and refining of the output undertaken at Rustenburg Platinum Mines’ metallurgical facilities. The company’s 100% owned mining operations comprise of the five mines at Rustenburg Section and the two mines at Amandelbult Section, as well as Mogalakwena and Twickenham mines.

Strategy and growthAnglo Platinum’s objective is to maintain its position as the leading primary producer of platinum. In order to do this, the company aims to be a highly cost effective producer, to develop the market for PGMs and to expand production into that growth opportunity. In the second half of 2008 and in 2009, in response to the unprecedented rapid decline in PGM prices caused chiefly by rapidly slowing vehicle sales in North America, Europe and Japan, the company implemented a number of initiatives to reduce costs and improve operational productivity and also undertook a critical examination of capital expenditure.

Anglo Platinum is involved in developing mining activity for PGMs on the Great Dyke of Zimbabwe, the second largest known repository of platinum after the Bushveld Complex. Development and exploration work is focused on new projects in the area, including Unki, as well as establishing extensions to the resource base for future projects.

The platinum jewellery market requires constant promotion and development and Anglo Platinum is the major supporter of Platinum Guild International, which since its inception in 1975 has played a key role in encouraging demand for platinum and establishing new platinum jewellery markets. China has been the leading platinum jewellery market since 2000.

China businessAnglo American continues to expand its focus on the Chinese platinum market. China accounted for over two thirds of the world’s platinum consumption in 2009, with the precious metal increasingly used in China for jewellery and for industrial purposes.

特威克南铂金矿Twickenham platinum mine

Waterval Merensky 选矿厂Waterval Merensky concentrator

勒斯腾堡制酸厂Acid plant in Rustenburg

8 9

P

latinum

财务概要Financial highlights

单位：百万美元（特别声明除外）$ million (unless otherwise stated) 2009 2008

营业利润Operating profit 32 2,169

利税折旧摊提前利润EBITDA 677 2,675

净运营资产Net operating assets 12,141 9,045

资本支出Capital expenditure 1,150 1,563

占集团营业利润份额Share of Group operating profit 1% 22%

占集团净运营资产份额Share of Group net operating assets 31% 27%

铂金

铂金业务综述

Platinum summary

英美资源集团子公司英美铂金是世界最大的铂

金生产商，其产量占全球总产量的 40% 左右。

英美铂金的矿山主要位于布什维尔德杂岩区，

这一区域包含 Merensky、UG2 和 Platreef 等

富含铂族金属的矿体，拥有世界上储量最丰富

的铂族金属。

Our subsidiary, Anglo Platinum, is the world’s largest primary producer of platinum, accounting for about 40% of world supply. Anglo American’s platinum operations exploit the world’s richest reserve of PGMs, known as the Bushveld Complex, which contains the PGM-bearing Merensky, UG2 and Platreef ores.

• 世界最大的铂金生产商

• 在南非全资拥有九个矿山、三个冶炼厂、两个精炼厂

• 2010 年目标产量为 250 万盎司

• No. 1 primary producer of platinum in the world

• Nine wholly owned mining operations in South Africa,

with three smelters and two refineries

• 2.5 m platinum ounces production target for 2010

全球业务分布

Around the world

连续5年扣除非经常性项目后的营业利润Five year underlying earnings(百万美元 / $m)

0

250

500

750

1,000

1,250

1,500

1,26

5

483

44

222

1,25

6

1,29

9

070605 08 09 10 H1

营业利润率Operating margin(%)

0

10

20

30

40

50

40.9

23.0

34.3

39.7

070605 08 09

0.7

英美铂金产量*Anglo Platinum production*千盎司 / Ounces (thousand)

英美铂金产量*Anglo Platinum production*千盎司 / Ounces (thousand)

04 05 06 07 08 09

5000

1,0001,5002,0002,5003,0003,5004,0004,5005,000

0

3,000

6,000

9,000

12,000

15,000

05 06 07 0908

英美铂金运营成本Anglo Platinum operating costs(兰特 / 盎司 ZAR / ounce)

5,52

36,

587

6,11

6 7,96

3

8,18

1 10,7

11

11,0

96

11,2

36 13,3

5914,9

22

* 每等量铂金盎司现金成本不包括已购精矿和附加成本† 总计销售铂金盎司=已售提炼的铂金盎司，加上精矿形式销

售的铂金盎司数量* Cash operating cost per equivalent Pt ounce excludes

ounces from purchased concentrate and associated costs† Total Pt ounces sold = refined Pt ounces sold plus Pt

ounces sold in concentrate

* 每等量铂金盎司现金成本不包括已购精矿和附加成本† 总计销售铂金盎司=已售提炼的铂金盎司，加上精矿形式销

售的铂金盎司数量* Cash operating cost per equivalent Pt ounce excludes

ounces from purchased concentrate and associated costs† Total Pt ounces sold = refined Pt ounces sold plus Pt

ounces sold in concentrate

* 不包括Northam Platinum Limited公司份额 不包括镍和铜的产量* Excludes share of Northam Platinum Limited. Excludes production of nickel and copper.

钯，铑和金Palladium, rhodium and gold

每等量铂金盎司现金成本*Cash operating cost per equivalent Pt ounce*总计销售铂金盎司的销售成本†Cost of sales per total Pt ounce sold†

铂金Platinum

占集团营业利润的比例Share of Group operating profit(%)

0

5

10

15

20

25

30

27

13

1

22

9.4

28

070605 08 09 10 H1

占集团净运营资产比例

Share of Group net operating assets

(%)

0

10

20

30

40

50

33

20

27

31

35

070605 08 09

Pretoria

LIMPOPO

GAUTENGMPUMALANGA

NORTHWEST

Johannesburg

Witbank

Polokwane

Mokopane

● 布什维尔杂岩区 / Bushveld Complex● 项目（合资） / Project (JV)● 运营业务（全资） / Operation (100% owned)● 运营业务（合资） / Operation (JV)● 项目（全资） / Project (100% owned)● 加工厂（全资） / Process (100% owned)

●

●

●

Dishaba Mine Ga-Phasha Project

Bokoni Platinum Mine

Twickenham Platinum Mine

Modikwa Platinum Mine

Der Brochen Project

Mototolo Platinum Mine

Sheba’s Ridge Project

Tumela Mine

Union Mine

Pandora JV

Mogalakwena Mine

Zandspruit Agreement

Magazynskraal Project

Marikana Platinum Mine

Kroondal Platinum Mine

BRPM

Bathopele Mine

Khuseleka Mine

Thembelani Mine

Khomanani Mine

Siphumelele Mine

Waterval Smelter

Rustenburg BaseMetal Refiners

PreciousMetals Refiners

Mortimer Smelter

Boikgantsho Project

Polokwane Smelter

凌波波省

豪登省普玛兰加省

西北省

图例 / Key

● ●

南非 / South Africa

Bafokeng-Rasimone JV 33%

Bokoni Platinum Mine 100%

Modikwa JV50%

Pandora JV 42.5%Polokwane Smelter100%

Mogalakwena Mine 100% 100%

100%

100% Rustenburg Platinum Mines (RPM)

Khomanani MineBathopele MineSiphumelele MineThembelani MineKhuseleka Mine

RPM Amandbelbult Section 100%Tumela MineDishaba Mine

Union Section85% Twickenham Mine 100% Mototolo JV50% Kroondal 50%

●●●●

●

●

●

●●●●● Marikana JV50%

地下开采 / Underground露天开采 / Open Cut其他 / Other

Precious Metal RefineryRustenburg Base Metals Refinery

10 11

Diam

onds

业务概况

英美资源拥有全球领先的钻石公司戴比尔

斯 45% 的股份。戴比尔斯的其他股东包括

Central Holdings Ltd（40%）和博茨瓦那政府

（15%）。戴比尔斯，通过子公司六元素公司，

是世界主要的合成工业钻石生产商。六元素公

司作为市场的领先者，运营范围遍及全球，拥

有 10 个制造工厂和广泛的全球销售网络。

全球业务

戴比尔斯是全球领先的钻石公司，其与合资

伙伴在五大洲 20 多个国家开展业务，有约

15,000 名员工。以价值估算，戴比尔斯在博茨

瓦那、加拿大、纳米比亚和南非的矿山生产占

全球 40% 份额的毛坯钻。戴比尔斯通过钻石

商贸公司 (DTC) 及在博茨瓦那、南非和纳米比

亚的合作伙伴，向客户提供符合特定切割和抛

光需求的毛坯钻。戴比尔斯通过戴比尔斯钻石

珠宝公司 (DBDJ)，和路易威登 (LVMH) 建立

了高端珠宝零售合资公司，在纽约、洛杉矶、

伦敦、巴黎、东京和迪拜等全球领先城市中最

时尚的地区开设门店。

战略和增长

2009 年，为应对钻石行业里几十年不遇的、

最严重、漫长的低迷期，戴比尔斯采取果断行

动，在较低销售水平中维持了盈利，并为从最

终的经济复苏中获利做好了积极的准备。其策

略集中于降低产量来适应急剧减少的看货商需

求，在全公司倡导节约成本和高效运营，并寻

求刺激消费者需求的方法。因此，2009 年戴

比尔斯钻石产量（2350 万克拉）比 2008 年降

低了 49%。这一减产是通过 2009 年上半年在

博茨瓦纳、南非和加拿大的矿区增加假日并延

长维修换班时间而取得的。2009 年，戴比尔

斯继续通过其在美国和亚洲市场备受瞩目的一

系列市场营销活动来拉动需求。

中国业务

戴比尔斯公司早在 20 世纪 50 年代就通过其

位于香港和英国的公司向中国客户供应钻石。

1984 年戴比尔斯开始同中国的合作伙伴商讨

合作勘探中国的钻石资源，并于 1986 年在山

东、辽宁、湖南和贵州进行了首次钻石勘探投

资。1995 年，戴比尔斯和地质矿产部进行了

谈判并达成协议，与河北和四川的省地质矿产

局建立了合资公司进行勘探。在两地的调查工

作分别在 2000 年和 2001 年完成。不久前，

戴比尔斯还通过六元素公司在中国建立了一家

工业钻石生产厂，进一步扩大了其在中国的业

务。自 1987 年以来，戴比尔斯通过电视和印

刷品广告积极开发钻石和钻石首饰市场，并在

上海、北京和广州建立了钻石推广中心。2008

年 11 月，永恒印记中国公司在上海正式成立，

并开始进入上海和北京市场。2009 年 4 月 7 日，

全球第一家永恒印记概念店在北京菜市口百货

华彩亮相。自 2009 年 7 月起，永恒印记已在

南京、杭州、武汉、成都、天津和深圳等 6 个

城市陆续开业。

Business overview Anglo American’s diamond interests are represented by its 45% shareholding in De Beers, the world’s leading diamond business. The other shareholders in De Beers are Central Holdings Ltd (40%) and the Government of Botswana (15%). De Beers, through Element Six, is the world’s leading supplier of industrial diamond supermaterials. Element Six operates internationally, with ten manufacturing sites worldwide and a comprehensive global sales network. It is the leading player in the markets in which it operates.

Global operations De Beers is the world’s leading diamond business and, with its joint venture partners, operates in more than 20 countries across five continents, employing over 15,000 people. De Beers produces around 40% of the world’s rough diamonds by value from its mines in Botswana, Canada, Namibia and South Africa. De Beers, through the Diamond Trading Company (DTC), and its partners in Botswana, South Africa and Namibia, supplies

钻石

钻石Diamonds

its clients with parcels of rough diamonds that are specifically aligned to their respective cutting and polishing needs. De Beers and Moët Hennessy Louis Vuitton (LVMH) have established a high-end retail jewellery joint venture, through De Beers Diamond Jewellers (DBDJ), with stores in the most fashionable areas of some of the world’s leading cities, including New York, Los Angeles, London, Paris, Tokyo and Dubai.

Strategy and growthDuring 2009, De Beers, in order to withstand the most severe and prolonged downturn in the diamond industry for decades, took bold action to remain profitable at a far lower level of sales, and to place itself in a robust position to benefit from the eventual recovery. The strategy focused on lowering production levels to match sharply reduced sightholder demand, identifying cost savings and operating efficiencies across the business, and seeking ways to stimulate consumer demand. Consequently, diamond production was reduced by 49%, or 23.5 million carats, in comparison with 2008. This reduction

was achieved through a series of production holidays and extended maintenance shifts at the company’s mines in Botswana, South Africa and Canada through the first half of the year. De Beers continued to drive demand in 2009 through its highly regarded marketing campaigns in the US and Asia.

China businessDe Beers first supplied diamonds to Chinese customers from their UK and Hong Kong companies during the 1950’s. In 1984 De Beers commenced discussions with Chinese partners to cooperate on diamond exploration in China and in 1986 it made its first exploration investment in China to explore for diamonds in Shandong, Liaoning, Hunan and Guizhou. In 1995 negotiations between De Beers and the Ministry of Geology resulted in joint venture agreements with the provincial authorities of Hebei and Sichuan. Fieldwork was completed in 2000 and 2001, respectively. De Beers, through Element Six, recently expanded further by building an industrial diamond plant in China. Since 1987, De Beers has actively been promoting diamond jewellery marketing through television and print advertising and through diamond promotion services set up in Shanghai, Beijing and Guangzhou. In November 2008 Forevermark (China) was established in Shanghai and started to market Forevermark diamonds in Shanghai and Beijing. On 7 April 2009, the first Forevermark concept shop in the world was opened in Caibai Department Store in Beijing. Since July 2009, Forevermark expanded to another six cities in China, namely Nanjing, Hangzhou, Wuhan, Chengdu, Tianjin and Shenzhen.

戴比尔斯永恒印记全球首家概念店——北京菜市口百货The first Forevermark concept shop in the world, Caibai department store in Beijing

12 13

钻石业务综述

Diamonds summary

英美资源集团拥有全球领先的钻石公司戴比尔

斯 45% 的股份。戴比尔斯在钻石勘探、开采

和营销等领域拥有专业经验，并通过其在博茨

瓦那、加拿大、纳米比亚和南非的钻石矿生产

占全球总价值约 40% 的钻石。

Anglo American owns 45% of De Beers, the world’s leading diamond business. De Beers has expertise in exploration, mining and marketing of diamonds, and produces around 40% of the world’s diamonds by value from its mines in Botswana, Canada, Namibia and South Africa.

• 钻石行业位居世界第一

• 在非洲南部的三个国家和加拿大共有 17 个运

营矿

• 全球一流的钻石矿 Jwaneng 矿的矿龄延长到

15 年

• No. 1 name in the world diamond industry

• 17 mining operations in three southern African countries and in Canada

• 15 years – mine life extension at Jwaneng, the world’s flagship diamond mine

戴比尔斯钻石珠宝公司（DBDJ）是一家与路易威登（LVMH）合资建立的独

立经营的零售企业。2009 年，DBDJ 继续巩固其运营，直营店网络规模比

2008 年扩大了 50%。09 年没有新开店面，但 DBDJ 从原合作伙伴手中拿回

了香港店面的直接控制。六元素公司（E6）是一家工业钻石特种材料制造商，

为如石油天然气、矿业、建筑业、汽车、航空、国防、电子、半导体和工程

等的全球市场供应多种产品。

De Beers Diamond Jewellers (DBDJ) is an independently managed jewellery retail joint venture with Moët Hennessy Louis Vuitton (LVMH). In 2009, DBDJ consolidated operations following a 50% increase in the size of its directly operated store network in 2008. No new stores were opened in 2009, although DBDJ assumed direct control of the Hong Kong operation from its former partner. Element Six (E6) is an industrial diamond supermaterials business, supplying diverse global markets such as oil and gas, mining, construction, automotive, aerospace, defence, electronics, semiconductor and general engineering.

财务概要Financial highlights百万美元（特别声明除外）$ million (unless otherwise stated) 2009 2008

关联企业营业利润Share of associates’ operating profit 64 508

利税折旧摊提前利润EBITDA 215 665

集团在戴比尔斯的关联投资Group's associate investment in De Beers

1,353 1,623

占集团营业利润份额Share of Group operating profit 1% 5%

钻石

全球业务分布

Around the world

位于加拿大的 Victor 矿和 Snap Lake 矿山是戴比尔斯在非洲大陆之外的

初次矿山投资。Victor矿山位于安大略省北部 James Bay lowlands地区，

在 Attawapiskat First Nation 社区以西约 90 公里。该地区交通不便，只

能依靠航空或季节性的冰路通行。该矿雇佣了 400 多名当地员工，并为

当地原住民经济引入了超过 1.75 亿加元的投资。Snap Lake 矿山位于

Yellowknife 东北 220 公里，是加拿大第一个全部地下开采的钻石矿山。

这两个矿山项目都于 2008 年完成，2009 年合计产量为 110 万克拉。

Victor mine and the Snap Lake mine in Canada are De Beers’ first mining ventures outside of the African continent. Victor mine is located in the James Bay lowlands of northern Ontario, about 90 km west of the First Nation community of Attawapiskat. It is so remote that it can only be accessed by air or seasonal ice road. The mine employs more than 400 local people and has channelled over C$ 175 million (US$ 154 million) of investment into local Aboriginal businesses. Our Snap Lake mine lies 220 km northeast of Yellowknife and is Canada’s first completely underground diamond mine. Both projects were completed in 2008. Combined output for 2009 was 1.1 million carats.

Namdeb 是一家戴比尔斯和纳米比亚政府各占 50% 权益的合资公司，

并且一直出产各种高价值宝石级钻石。如今，Namdeb 在冲积型钻石回

收方面是世界公认的领先公司。2009 年 Namdeb 产量 90 万克拉。

Namdeb, a 50:50 partnership between De Beers and the Namibian Government, has historically been a source of high value gemstones. Today, it is the acknowledged leader in alluvial recovery of diamonds. In 2009 Namdeb’s production was 0.9 million carats.

Debswana 是一家戴比尔斯和博茨瓦纳政府各占 50% 权益的合资公

司，2009 年产量为 1,770 万克拉。Debswana 有两个世界级的钻石矿：

Jwaneng 和 Orapa。

Debswana, a 50:50 partnership between De Beers and Botswana government, produced 17.7 million carats in 2009. Debswana operates two of the world’s great diamond mines, Jwaneng and Orapa.

戴比尔斯在南非的 2009 年总产量为 480 万克拉，比 2008 年降低 60%。这

一减产是由于全球经济萎缩影响了 DTC 看货商的需求。

South African production in 2009 was 4.8 million carats, 60% below 2008. This reduction was in response to reduced demand from DTC Sightholders owing to the impact of the global economic downturn.

Diam

onds

-100

0

100

200

300

400

500

08070605 09 10 H1

连续5年扣除非经常性项目后的营业利润百万美元Five year share of associates’underlying earnings ($m)

227

430

256

239

(90)

营业利润率，百分比Operating margin (%)

0

5

10

15

20

14.7

17.6

148

3.7

16.4

15.7

08070605 09

南非 / South Africa 4.8 纳米比亚 / Namibia 0.9 博茨瓦纳 / Botswana 17.7 加拿大 / Canada 1.1 总计 / Total 24.6

2009年戴比尔斯分地区产量2009 De Beers mine production byregion, carats (百万克拉 / million)

800

1,000

1,200

600

400

200

003 07 0805 0604 09

983866

817

402

1,142 1,0131,035

戴比尔斯每年运营成本2003-09De Beers annual operating costs 2003-09(百万美元 / $m)

来源：戴比尔斯Source: De Beers

(20%)(4%)

(4%)(72%)

分地区需求Demand by region(%)

2008 2016 F

来源：戴比尔斯Source: De Beers

美国 / USA2008 2016F

海湾地区 / Gulf 中国 / China

40% 35%8% 9%8%

18%4% 2%2% 2%2% 2%7% 11%

11% 9%

14%

16%日本 / Japan 印度 / India

台湾地区 / Taiwan

香港地区 / Hong Kong 意大利 / Italy

其他国家 / Rest of world

1

2图例 / Key● 地下开采 / Underground● 露天开采 / Open Cut

其他 / Other

加拿大 / Canada ●1

●2

100% Snap Lake100% Victor

2

3

1

纳米比亚 / Namibia1 70% 戴比尔斯Marine Namibia

De Beers Marine Namibia2 50% Namdeb3 50% Namibian Sea Areas

2

341

博茨瓦纳 / Botswana50% Orapa50% Jwaneng50% Letlhakane

●

●

1

●2●34 50% Damtshaa

2

4

5

36

1

南非 / South Africa1 Kimbereley●23 74% Namaqualand

74% Finsch

●4 74% Voorspoed●5 74% Venetia6 74% South African Sea Areas (SASA)

1

23

英国 / 爱尔兰 / United Kingdom / Ireland

六元素（爱尔兰）Element Six (E6) (Ireland)

戴比尔斯钻石珠宝公司De Beers Diamond Jewellers

1

2

3 戴比尔斯英国公司100% De Beers UK Ltd.

14 15

Copper

铜

业务概况

英 美 资 源 的 铜 业 务 在 智 利 拥 有 六 处 铜 资

产， 包 括 全 资 所 有 的 矿 山 Los Bronces、El

Soldado、Mantos Blancos、Mantoverde，以

及 Chagres 冶炼厂，另外还拥有 Collahuasi

矿 44% 的股份。这些矿也生产钼和银等副产

品。此外，英美资源铜业务是秘鲁的两个项目

（Quellaveco 和 Michiquillay 项 目） 的 控 股

股东，并在阿拉斯加 Pebble 项目中占有 50%

的股份。

Los Bronces 矿的产量按计划将在全面投产后

前三年内增至每年 49 万吨（前十年平均产量

超过每年 40 万吨）。在峰值产量水平下，Los

Bronces 矿有望成为世界上第五大铜矿，同时

拥有较低的现金经营成本和足以支持运营 30

年的地质储量。Collahuasi 矿正在实施项目扩

建以将硫化物处理能力在 2011 年初提高到每

天 15 万吨，同时还将对后续再扩建的巨大潜

力继续进行评估。Mantos Blancos 矿当前正

在进行研究以延长其矿山寿命。在秘鲁，年产

22.5 万吨的 Quellaveco 项目可行性研究的修

定也进展顺利，该项目目前待批。同样位于秘

鲁的 Michiquillay 项目将重点放在处理与当地

社区的关系上，土地使用谈判已于 2009 年 6

月完成。2009 年，阿拉斯加的 Pebble 项目

在各方面都进展顺利，已于 2010 年完成工程

设计和环境评估，并在限定区域内进行了更多

钻探。

战略及增长

英美资源铜业务的战略是以对社会和环境负责

任的方式寻找或收购、发展、经营长矿龄、低

成本的矿山，重点关注高效的资源配置、持续

的改进和优秀的资本及业务运营。

英美资源铜业务一直以来不断积极拓展业务，

对各类项目进行评估，包括新建和改建项目、

并购、勘探、技术开发和资产优化项目等。未

来重大增长将来自于已获批准的 Los Bronces

项目扩建，另外位于秘鲁的 Quellaveco 项目

和位于智利的 Collahuasi 项目的未来增长潜力

研究也已获得重要进展。此外，对 2007 年收

购的位于秘鲁的 Michiquillay 矿和阿拉斯加的

Pebble 项目的潜力和开发方案评估工作也在进

行中。

2009 年 8 月，英美资源集团宣布在智利的

Los Sulfatos 和 San Enrique Monolito 项目发

现了两个优质铜矿区。这两个矿区把集团的铜

资源量（不包括储量）提高了近 50%。

中国业务

近年来，中国快速的工业化经济增长带动了对

一系列产品的需求增长，这已成为全球经济发

展的一个显著特征，铜市场也从这一需求增长

中获益。

Business overviewCopper has interests in six operations in Chile. These operations comprise the wholly owned Los Bronces, El Soldado, Mantos Blancos and Mantoverde mines, the Chagres smelter and a 44% interest in the Collahuasi mine. The mines also produce associated by-products such as molybdenum and silver. In addition, the business unit has controlling interests in two projects in Peru (Quellaveco and Michiquillay) and a 50% interest in the Pebble project in Alaska.

Production at Los Bronces is scheduled to increase to 490 ktpa over the first three years of full production (an average of over 400 ktpa over the first 10 years). At peak production levels, Los Bronces is expected to be the fifth largest producing copper mine in the world, with highly attractive cash operating costs and reserves that support a mine life of over 30 years. At Collahuasi, an expansion project is under way to increase sulphide processing capacity to 150 kt per day by early 2011, while the significant potential for subsequent phased expansions continues to be evaluated. At Mantos Blancos, studies are currently underway to extend the life of the operation. In Peru, good progress was

铜Copper

made in the year on a revised feasibility study for the 225 ktpa Quellaveco project. The project is pending approval. The focus at the Michiquillay project, also in Peru, has been on building relationships with the local communities and, in this respect, land access negotiations were completed in June 2009. Activities at the Pebble project in Alaska advanced on all fronts during 2009. In 2010, the project team worked towards finalising the engineering design, completing the environmental baseline document and carrying out additional exploration drilling within the claim area.

Strategy and growthCopper’s strategy is to find or acquire, develop and operate long life, low cost mines in a socially and environmentally responsible manner, with a strong focus on efficient resource allocation, continuous improvement and capital and operating excellence.

The business is constantly developing and evaluating growth options from a combination of sources, including greenfield and brownfield projects, acquisitions, exploration, technology development and asset optimisation programmes. Significant future

growth will come from approved expansions at Los Bronces, while studies are at an advanced stage into further growth potential at Quellaveco in Peru and Collahuasi in Chile. In addition, work continues on evaluating the potential and development options for the resources acquired in 2007 at Michiquillay in Peru and Pebble in Alaska.

In August 2009, Anglo American announced the discoveries of two high quality copper prospects at Los Sulfatos and San Enrique Monolito in Chile. These two prospects together increase the Group’s copper resources (excluding reserves) by approximately 50%.

China businessIn recent years a dominant feature has been increased demand for a range of commodities from China’s rapidly industrialising economy. Copper has likewise benefited from this surge in demand.

Mantos Blancos 铜矿Mantos Blancos Copper Mine

Los Sulfatos 铜矿Los Sulfatos copper mine

Mantoverde 铜冶炼厂Mantoverde copper smelter

16 17

Copper

铜业务综述

Copper summary

英美资源集团的铜业务包括在智利的六

个铜业务资产、在秘鲁的两个铜项目，

及在阿拉斯加的 Pebble 项目。

Anglo American’s copper business has six copper operations in Chile, two copper projects in Peru and the Pebble project in Alaska.

公司在智利拥有六处铜资产。这些资产包括全资所有的

Los Bronces、El Soldado、Mantos Blancos、Mantoverde

矿和 Chagres 冶炼厂，另外还拥有 Collahuasi 项目 44%

的股份。这些矿也生产钼和银等相关副产品。此外，铜

业务还对秘鲁的两个项目（Quellaveco 和 Michiquillay 项

目）拥有控股权，并在位于阿拉斯加的 Pebble 项目中占有

50% 的股份。

全球业务分布

Around the world

铜

财务概要Financial highlights

单位：百万美元（特别声明除外）

$ million (unless otherwise stated) 2009 2008

营业利润

Operating profit 2,010 1,892

利税折旧摊提前利润

EBITDA2,254 2,104

净运营资产

Net operating assets4,763 3,148

资本支出

Capital expenditure1,068 808

占集团营业利润份额

Share of Group operating profit41% 19%

占集团净运营资产份额

Share of Group net operating assets 12% 10%

• 2009 年铜产量达到创纪录的 67 万吨

• 在智利有 6 个铜业务资产（5 个是全资所有）

• Los Bronces 项目扩建使整个铜业务的年产量增加了 40 万吨

• 670 kt – record attributable copper production in 2009• Six copper operations (five wholly owned) in Chile• 400 ktpa copper from an expanded Los Bronces

南美洲 / South America

●1 44% Collahuasi (智利 / Chile)

●2 100% Los Bronces (智利 / Chile)

3 100% El Soldado (智利 / Chile)

4 100% Chagres (智利 / Chile)

●5 100% Mantos Blancos (智利 / Chile)

●6 100% Mantoverde (智利 / Chile)

7 81.9% Quellaveco Project (秘鲁 / Peru)

Michiquillay (秘鲁 / Peru)8 100%

1

2

5

4

7

6

8

3

图例 / Key

地下开采 / Underground

露天开采 / Open Cut

其他 / Other

●●

Copper has interests in six operations in Chile. These operations comprise the wholly owned Los Bronces, El Soldado, Mantos Blancos and Mantoverde mines, the Chagres smelter and a 44% interest in the Collahuasi mine. The mines also produce associated by-products such as molybdenum and silver. In addition, the business unit has controlling interests in two projects in Peru (Quellaveco and Michiquillay) and a 50% interest in the Pebble project in Alaska.

18 19

Business overviewNickel comprises two ferronickel operations: Codemin in Brazil and Loma de Níquel in Venezuela with the world class Barro Alto ferronickel project in Brazil in progress. In addition, within the business unit’s portfolio, there are two promising projects, both in Brazil, which are pending approval: Jacaré and Morro Sem Bone. These have the potential to significantly strengthen Anglo American’s position in the worldwide nickel market, adding at least 66 ktpa to the Group’s present annual total nickel production (including Anglo Platinum’s nickel output) of 39.4 kt.

Strategy and growthNickel’s strategy is in line with the Group’s overall strategy of finding or acquiring, developing and operating world class, low cost mines in a socially and environmentally

业务概况

镍业务拥有两个镍铁矿运营项目：位于巴西的

Codemin矿和委内瑞拉的Loma de Níquel矿，

以及一个开发中的位于巴西的世界级镍铁项目

Barro Alto。此外，镍业务还包括两个独具潜

力的项目： Jacaré 和 Morro Sem Bone。这两

个项目都位于巴西，处于等待批复阶段。以上

这些项目将极有可能使英美资源集团的镍矿年

总产量在目前 3.94 万吨（包括英美铂金公司

的镍矿产量）的基础上至少再增加 6.6 万吨，

从而提高集团在全球镍矿市场中的地位。

战略与发展

镍矿业务的发展战略与英美资源集团寻求、收

购、开发和运营世界级低成本矿山的整体战略

相一致。与此同时，我们坚持对社会和环境负

责任、并且强调安全生产和资产的优化。虽然

镍矿容易受到自身价格波动及金属价格周期性

变化的影响，但从中长期来看，金砖四国（巴

西、俄罗斯、印度和中国）经济的持续发展将

推动镍的需求增长。英美资源集团重组后，成

立了专门的镍业务管理团队。目前该管理团队

已经到位，我们将把工作重点集中放在如何优

化项目的运营，以及如何成功完成 Barro Alto

项目。除 Barro Alto 项目外，镍业务还有待开

发 Jacaré 和 Morro Sem Bone 项目，这将令

英美资源集团成为国际镍矿市场的新兴力量，

以及一家能够将成本控制在行业平均水平以下

的公司。

中国业务

近些年来，随着中国工业化经济的迅速发展，

对各种矿产品的需求持续增长，这已经成为世

界经济发展的显著特征。镍市场也受益于这一

显著的需求增长。

镍Nickel

N

ickel

镍

responsible manner, with an increasing focus on safety and asset optimisation. Although prone to its own price volatility and metal cycle movements generally, nickel’s medium and long term demand fundamentals are being driven by the ongoing development of the so-called BRIC nations (Brazil, Russia, India and China). The restructuring of the Anglo American Group has brought with it the opportunity to have a new management team dedicated to the nickel business. With this team now in place, there is a sharpened focus on optimisation initiatives at the operations as well as on the successful execution of the Barro Alto project. Beyond Barro Alto, the business unit has significant optionality to develop the Jacaré and Morro Sem Bone projects, which would make Anglo American a growing player in the nickel market and one that is well positioned on the lower half of the industry cost curve.

China businessIn recent years a dominant feature has been the increased demand for a range of commodities from China’s rapidly industrialising economy. The nickel market has subsequently benefited from this surge in demand.

Barro Alto 建筑工地Construction work at Barro Alto

巴西 Codemin 矿产出的镍铁Ferronickel shots from the Codemin operation in Brazil

Loma de Níquel 矿Loma de Níquel mine

20 21

财务概要

Financial highlights

单位：百万美元（特别声明除外）

$ million (unless otherwise stated) 2009 2008

营业利润

Operating profit 2 123

利税折旧摊提前利润

EBITDA28 150

净运营资产 Net operating assets

1,787 1,401

资本支出

Capital expenditure554 530

占集团营业利润份额

Share of Group operating profit 0.04% 1%

占集团净运营资产份额 Share of Group net operating assets

5% 4%

• 镍总产量达 1.99 万吨（不包括英美铂金公司

的镍产量）

• 两个运营中镍铁项目，及一个已获得批准镍

铁项目

• 预计从 2012 年开始，Barro Alto 项目的年均

产量将达到 3.6 万吨

• 19.9 kt total nickel production (excluding Anglo Platinum)

• Two ferronickel operations and one approved ferronickel project

• 36 ktpa average nickel output of Barro Alto from 2012

镍矿业务综述

Nickel summary

英美资源集团的镍矿业务包括在巴西独资的

Codemin矿和委内瑞拉的Loma de Níquel矿。

其世界级的 Barro Alto 镍铁矿项目也位于巴西，

并计划于 2011 年年初投入生产。

Anglo American’s nickel business comprises the wholly-owned Codemin mine in Brazil and the Loma de Níquel mine in Venezuela. The world class Barro Alto ferronickel project, also in Brazil, is due to begin production in early 2011.

镍矿业务包括两个镍铁矿运营项目：位于巴西的 Codemin

矿和委内瑞拉的 Loma de Níquel 矿，以及一个开发中的

位于巴西的世界级 Barro Alto 镍铁项目。此外，镍矿业务

部门还包括两个独具潜力的项目： Jacaré 和 Morro Sem

Bone。这两个项目都位于巴西，并处于等待批复阶段。以

上这些项目将极有可能使英美资源集团的镍矿年总产量在

目前 3.94 万吨（包括英美铂金公司的镍矿产量）的基础上

至少再增加 6.6 万吨，从而提高英美资源集团在全球镍矿

市场中的地位。

N

ickel

镍

全球业务分布

Around the world

3

21

图例 / Key

地下开采 / Underground

露天开采 / Open Cut

其它 / Other

南美 / South America

●1 100% Barro Alto (巴西 / Brazil)

●2 100% Codemin (巴西 / Brazil)

●3 91.4% Loma de Níquel (委内瑞拉 / Venezuela)

●●

Nickel comprises two ferronickel operations: Codemin in Brazil and Loma de Níquel in Venezuela as well as the world class Barro Alto ferronickel project in Brazil. In addition, within the business unit’s portfolio, there are two promising projects, both in Brazil, which are pending approval: Jacaré and Morro Sem Bone. These have the potential to significantly strengthen Anglo American’s position in the worldwide nickel market, adding at least 66 ktpa to the Group’s present annual total nickel production (including Anglo Platinum’s nickel output) of 39.4 kt.

22 23

业务概况

英美资源铁矿石业务包括南非库博铁矿石公司

的 62.76% 的股权。英美资源巴西铁矿石公司

拥 有 Minas Rio 铁 矿 石 项 目 100% 的 股 权，

并持有 LLX Minas Rio 公司 49% 的股权，而

LLX Minas Rio 则拥有 Açu 港口（目前正在建

设中）所有权，Minas Rio 项目的铁矿石将从

Açu 港口出口运往国外。英美资源巴西铁矿石

公司还拥有阿马帕铁矿项目（Amapá）70%

的股权。

库博公司是一家在约翰内斯堡证券交易所上市

的公司，它拥有两个铁矿：一个是位于北开普

省的 Sishen 矿，其 2009 年出产铁矿石 3930

万吨；另一个是位于林波波省的塔巴津比铁矿

（Thabazimbi），其 2009 年出产铁矿石 260

万吨。库博公司是一家全球领先的海运铁矿

石的供应商，其 2009 年全部产出铁矿石中的

80% 出口国外，其中的 75% 销往中国，其余

则出口到欧洲、日本和韩国。

Minas Rio 铁矿石项目位于巴西米纳斯吉拉斯

（Minas Gerais）州和里约热内卢州，项目

包括露天矿和一座位于米纳斯吉拉斯（Minas

Gerais）州的生产高品位球团的选矿厂。一期

项目完工后，铁矿石将通过一条 500 多公里长

输浆管道输送到位于里约热内卢州的 Açu 港

口。阿马帕铁矿项目位于巴西北部的阿马帕州，

目前它正在提升球团和烧结产能，2010 年上

半年产量达到了 180 万吨。如果进一步增加

投资的话，阿马帕铁矿项目的年产量可以达到

650 万吨。

锰业务包括 Samancor 控股公司 40% 的股份，

Samancor 控股公司拥有位于南非的 Hotazel

锰矿和金属合金公司，以及澳大利亚 Groote

Eylandt 矿 业 公 司（GEMCO） 和 Tasmanian

Electro 冶金公司（TEMCO）40% 的股权，而

必和必拓公司持有 Samancor 控股公司 60%

的股份并拥有管理权。Samancor 公司是世界

上最大的海运锰矿石生产商和全球三大锰合金

制造商之一。该公司的产品包括产自南非和澳

大利亚的锰矿、合金和金属原料。

战略和增长

英美资源铁矿石业务的核心战略是提升英美资

源在铁矿石领域的地位，并在全球铁矿石供应

品质下降的背景下为客户提供顶级、优质的铁

矿石产品。英美资源公司拥有独特的铁矿石资

源布局，在南非和巴西拥有大量高品位的矿产

资源。

库博公司是一家全球领先的铁矿石块矿供应

商，并在高增长的亚太和中东市场处于有利的

地位。同时该公司具有为欧洲市场供货的得天

独厚的地理位置。而 Minas Rio 项目将以其高

含铁量和低杂质的优质矿石赢得高增长的球团

矿市场的重要份额。未来的大部分增长空间将

来自于在 Minas Rio 和 Kolomela（以前称作

为南 Sishen 矿）的扩产项目。

英美资源锰业务战略将侧重于上游资源业务，

尽管其低成本的合金冶炼近年来对利润贡献

很大。除此之外，合金冶炼对整个锰业务的

增值，使得 Samancor 公司能以矿石和合金

的最佳组合进入市场，并优化生产、适应市

场环境，同时提供冶炼过程中铁矿石性能表

现的最新信息。

中国业务

由于全球钢铁生产和需求的强劲增长，预计近

期铁矿石和锰的业务将会由于中国市场需求而

进一步增长。库博铁矿石公司代表英美资源集

团在中国开展业务。它在 1994 年投资 1000

万美元建设青岛港铁矿石码头，之后，库博开

始首次涉足中国业务。此后铁矿石在中国销售

量快速增长，目前其在中国的销售量每年超过

1000 万吨。库博公司是宝山钢铁公司 Corex

冶炼厂块状矿石的主要供应商。Corex 炼钢工

艺是世界上最低排放和最高效的炼钢工艺。

Business overviewIron Ore includes a 62.76% shareholding in Kumba Iron Ore in South Africa. Iron Ore Brazil has a 100% interest in the Minas Rio iron ore project, a 49% shareholding in LLX Minas Rio, which owns the port of Açu (currently under construction) from which iron ore from the Minas Rio project will be exported, and a 70% interest in the Amapá iron ore system.

Kumba, listed on the Johannesburg Stock Exchange, operates two mines – Sishen in the Northern Cape, which produced 39.3 Mt of iron ore in 2009, and Thabazimbi in Limpopo, which had a production of 2.6 Mt in 2009. Kumba is a leading supplier of seaborne iron ore, and exported more than 80% of its total iron ore sales volumes in 2009, with 75% of these exports destined for China and the remainder to Europe, Japan and South Korea.

The Minas Rio iron ore project is located in the states of Minas Gerais and Rio de Janeiro and will include open pit mines and a beneficiation plant in Minas Gerais producing high grade pellet feed. The completion of phase 1 will see transportation of ore through a slurry pipeline more than 500 kilometres to the port of Açu in Rio de Janeiro state. Amapá, located in Amapá state in northern Brazil, is in the process of ramping up its pellet feed and sinter feed production and produced 1.8 Mt in the first half of 2010. Amapá production could increase to 6.5 Mtpa with further capital investment.

Manganese comprises a 40% shareholding in Samancor Holdings, which owns Hotazel Manganese Mines and Metalloys, both situated in South Africa, and a 40% shareholding in each of the Australian-based operations Groote Eylandt Mining Company (GEMCO) and Tasmanian Electro Metallurgical Company (TEMCO), with BHP Billiton owning 60% and having management control. Samancor is the world’s largest producer of seaborne manganese ore and is among the top three global producers of manganese alloy. Its operations produce a combination of ores, alloys and metal from sites in South Africa and Australia.

铁矿石及锰 Iron Ore and Manganese

Iron Ore

and Manganese

铁矿石及锰

Strategy and growthThe core strategy of the business is to grow Anglo American’s position in iron ore and to supply premium, high quality iron ore products in the face of the declining quality of global iron ore supplies. Anglo American has a unique iron ore resource footprint, with large, high quality resource bases in South Africa and Brazil.

Kumba produces a leading quality lump and is well positioned to supply the high growth Asia-Pacific and Middle East markets. It is also geographically well positioned to supply European steel markets. Minas Rio will capture a significant part of the high growth pellet feed market with its premium product featuring high iron content and low impurities. Significant future growth will come from the expansion projects at Minas Rio and Kolomela (previously Sishen South).

The manganese strategy is to focus on upstream resources businesses, despite their low-cost alloy smelters having been significant contributors to profit in recent years. In

addition, alloy smelters add value to the overall manganese business as they enable Samancor to access markets with an optimal mix of ore and alloy, to optimise production to best suit market conditions and provide ongoing information on the performance of their ores in the smelting process.

China businessThe strong growth in global production and demand for steel, iron ore and manganese is expected to be further driven by demand from China in the near term. Kumba Iron Ore represents Anglo American Group’s ferrous interests in China. Kumba’s first operational involvement in China followed its 1994 investment of $10 million in the development of the iron ore terminal at Qingdao Port, which facilitates the growth of its iron ore sales to China. Present sales to China exceed 10 million tonnes per annum. Kumba is a key supplier of lump ore to the Corex plant of Baosteel Group. The Corex process is the most efficient steel process in the world with the lowest emissions.

位于巴西的 Açu 港口Açu port in Brazil

Minas Rio 铁矿Minas Rio iron ore

24 25

澳大利亚的锰业务主要由位于澳大利亚北部地区东部沿海的 Groote

Eylandt 矿业公司（GEMCO）和位于距离塔斯马尼亚州境内的朗塞斯顿

大约 55 公里的贝尔贝的塔斯马尼亚冶金公司（TEMCO）组成。

The Australian manganese operations consist of Groote Eylandt Mining Company (GEMCO), situated off the east coast of the Northern Territory of Australia, and Tasmanian Electro Metallurgical Company (TEMCO), which is based at Bell Bay, approximately 55 km from Launceston, Tasmania.

• 2009 年库博公司的铁矿石产量为 4200 万吨

• 其中超过 80% 的铁矿石用于出口

• Minas Rio 项目的探明、控制和推断资源总量

为 50 亿吨

铁矿石及锰矿业务综述

Iron Ore and Manganese summary

英美资源集团拥有独特的铁矿石资源布局，并

在巴西和南非拥有大量高品位的矿石资源。英

美资源集团还拥有 Samancor 锰业公司 40%

的股权，该锰业公司是世界上最大的海运锰矿

石的生产商。

Anglo American has a unique iron ore resource footprint with large, high quality resource bases in South Africa and Brazil. Anglo American also owns a 40% shareholding in Samancor Manganese, the world’s largest producer of seaborne maganese ore.

财务概要

Financial highlights

单位：百万美元（特别声明除外）

$ million (unless otherwise stated) 2009 2008

营业利润

Operating profit 1,489 2,554

库博铁矿石公司

Kumba Iron Ore1,487 1,583

巴西铁矿石公司

Iron Ore Brazil (141) (9)

Samancor 锰业公司

Samancor143 980

利税折旧摊提前利润

EBITDA1,593 2,625

净运营资产 Net operating assets

10,370 10,457

资本支出

Capital expenditure1,044 783

占集团营业利润份额

Share of Group operating profit 30% 25%

占集团净运营资产份额 Share of Group net operating assets

27% 32%

铁矿石及锰

由于选矿厂（Sishen 扩建项目）生产能力提高，2009 年库博铁矿石产

量增加了 14%，达到 4190 万吨。Samancor 公司总部位于南非，按照

锰矿石和锰合金销售量计算，它是世界上最大的综合锰矿石生产商。

Production at Kumba iron ore increased by 14% to 41.9 Mt in 2009 as a result of the ramp up of production from the jig plant (Sishen expansion). Samancor, which is the world’s largest integrated producer by sales of manganese ore and alloys, is headquartered in South Africa.

Minas Rio 项目位于巴西米纳斯吉拉斯（Minas Gerais）州，它包括露

天矿和生产高品位球团矿的选矿厂，这些球团矿通过长度 500 多公里的

输浆管路输送到位于里约热内卢州的 Açu 港。阿马帕（Amapá）项目

位于巴西北部，目前正在建设和提升其球团矿和烧结的生产能力，2010

年上半年产量达到了 180 万吨。如果加大投资，阿马帕的年产量可达到

650 万吨。

The Minas Rio project is located in the state of Minas Gerais, Brazil and will include open pit mines and a beneficiation plant producing high grade pellet feed which will be transported, through a slurry pipeline, over 500 km to the Port of Açu in the state of Rio de Janeiro. Amapá, located in Amapá state in Northern Brazil, is in the process of ramping up its pellet feed and sinter feed production and and produced 1.8 Mt in the first half of 2010. Amapá production could increase to 6.5 Mtpa with further capital investment.

Iron Ore

and Manganese

• 42 Mt – iron ore output at Kumba in 2009• >80% – proportion of iron ore for export at

Kumba• 5.0 Bt – measured, indicated and inferred

resources for Minas Rio

全球业务分布

Around the world

10年以上产量预测Forecast conceptual production 10+ year outlook

集团潜在铁矿石产量Group potential iron ore production(百万吨 / Mt)

Year

现有及批准 / Existing and approved主要未批准项目增长空间Major unapproved growth pipeline

来源：英美资源 / Source: Anglo American

09 11 12 1310 F

F

150

120

90

60

30

0

集团铁矿石产量Group iron ore production(百万吨 / Mt)

40

50

Year

30

20

10

0

SishenThabazimbiAmapá

05 07 08 0906

2

1

1

1图例 / Key 露天开采 / Open Cut

港口 / Port 其他 / Other

●

南非 / South Africa63%

40% Samancor

库博铁矿Sishen, Kolomela and Thabazimbi

1

2 ●

1

2

3

2

1 3

南美 / South America

100% Minas Rio (巴西 / Brazil)70% Amapá (巴西 / Brazil)49% LLX Minas-Rio (巴西 / Brazil)

1

2

1

2

澳大利亚 / Australia40% GEMCO40% TEMCO

26 27

Metallurgical C

oal

Business overviewMetallurgical Coal is Australia’s fourth largest producer of coal and its number three exporter of metallurgical coal. The company’s operations are based relatively close to the country’s east coast, from where it serves a range of customers throughout Asia and as far as Europe and South America.

Metallurgical Coal operates six mines, one wholly owned and five in which it has a controlling interest. Five of the mines are located in Queensland’s Bowen Basin: Moranbah North (metallurgical coal), Capcoal (metallurgical and thermal coal), Foxleigh (metallurgical coal), Dawson (metallurgical and thermal coal) and Callide (thermal coal). Drayton mine (thermal coal) is in the Hunter Valley in New South Wales. All of the mines are in well established locations and have direct access to rail and port facilities at Dalrymple Bay, Gladstone or Newcastle.

In 2009, excluding Jellinbah, Metallurgical Coal’s mines produced 12.6 Mt (attributable) of metallurgical coal, all of which was exported, and 14.1 Mt (attributable) of thermal coal, of which 42% was exported. Metallurgical Coal’s resource base totals some 3.4 billion tonnes of coal. These include high quality greenfield metallurgical coal reserves that are close to existing infrastructure.

Strategy and growthMetallurgical Coal’s strategy is to be a large, low cost, reliable exporter of quality coal to steel producers worldwide from Queensland’s well established Bowen Basin.

Key to securing Metallurgical Coal’s future is the development of long term relationships with major customers in order to cultivate a stable market for its products. These relationships proved their worth during a period of uncertain demand in early 2009 when Metallurgical Coal’s product continued to be ordered in preference to that of a number of other producers.

Anglo American is committed to reducing the Group’s carbon emissions by supporting world leading technologies. As an example

业务概况

英美资源的冶金煤业务是澳大利亚第四大煤

炭生产商和第三大冶金煤出口商。公司煤矿紧

邻澳大利亚东海岸，客户遍及亚洲、欧洲及南

美洲。

英美资源的冶金煤业务共运营六个矿山， 包

括一个全资拥有矿山和五个控股矿山。其中五

个煤矿位于昆士兰鲍恩盆地：Moranbah North

（冶金煤）、Capcoal（冶金煤和动力煤）、

Foxleigh（冶金煤）、Dawson（冶金煤和动力煤）

和 Callide（动力煤）。Drayton 矿（动力煤）

位于新南威尔士州的猎人谷。这些煤矿位置极

佳，可直接连通达尔林普尔湾、格拉德斯通港

及纽卡斯尔港的铁路和港口。

不含 Jellinbah 煤矿，冶金煤业务 2009 年的冶

金煤产量为 1,260 万吨，全部用于出口，动力

煤可用产量为 1,410 万吨，其中 42% 供出口。

冶金煤资源总量约 34 亿吨，包括在现有设施

附近仍在勘探的冶金煤矿藏。

战略和增长

冶金煤业务的战略是，借助基础良好的昆士兰

鲍恩盆地产煤区，成为大型、低成本和可信赖

的出口企业，为全球钢铁生产商供应优质煤炭。

冶金煤业务发展的关键在于，开发与大客户的

长期合作关系以确保稳定的市场。这种关系的

价值在 2009 年初得以体现，当时市场需求不

稳定，但与其他许多生产商相比，英美资源集

团冶金煤业务的产品订单却保持稳定。

英美资源集团致力于采用世界领先的科技以降

低碳排放。例如，冶金煤业务最近成为澳大利

亚 MBD Energy 公司的主要投资商，拥有该公

司 29% 的股份。MBD Energy 公司研发的碳

捕获与转换技术世界领先，其海藻合成器设备

将在澳大利亚三家排放温室气体最多的火力发

电厂试用。

受益于设备生产力提高到基准标准，Dawson

和 Capcoal（Lake Lindsay）煤矿扩建项目的

产量将在未来两到三年继续增长。为满足未

来十年对冶金煤和动力煤的需求增长预期，

Grosvenor、Moranbah South 和 Dartbrook 的

重要新建项目的研究工作仍将继续。

中国业务

近年来，英美资源冶金煤向中国的钢铁工业提

供高质量的冶金煤，以支持其高速发展。

冶金煤Metallurgical Coal

of this, Metallurgical Coal recently became a cornerstone investor in Australian based MBD Energy, acquiring a 29% shareholding in the business. MBD Energy will soon commence trials of its leading-edge carbon capture and conversion technology, using algal synthesisers at three of Australia’s largest greenhouse gas emitting, coal fired power plants.

Production from the brownfield expansion projects at Dawson and Capcoal (Lake Lindsay) mines will continue to increase over the next two to three years as equipment

冶金煤

productivity is raised to benchmark standards. Significant greenfield projects continue to be studied at Grosvenor, Moranbah South and Dartbrook to meet expectations for growing demand for both metallurgical and thermal coal over the next decade.

China businessMetallurgical coal from Anglo American’s mines has been sold to China to accommodate the nation’s world leading steel industry.

Callide 煤矿员工Callide coal mine staff

英美煤炭在澳大利亚德国湾的 Capcoal 项目Anglo Coal German Creek Capcoal project in Australia

28 29

Metallurgical C

oal

冶金煤业务综述

Metallurgical Coal summary

英美资源集团是澳大利亚第四大煤炭生产商和

第三大冶金煤出口商。

Anglo American’s metallurgical coal business is Australia’s fourth biggest producer of coal and its number three exporter of metallurgical coal.

英美资源冶金煤业务是澳大利亚第四大煤炭生产商和第三

大冶金煤出口商。公司所运营煤矿紧邻该国东海岸，客户

遍及亚洲、欧洲及南美洲。

冶金煤业务旗下运营六个煤矿，包括一个全资所有煤矿

和五个控股煤矿。其中五个煤矿位于昆士兰鲍恩盆地：

Moranbah North（冶金煤）、Capcoal（冶金煤和动力

煤）、Foxleigh（冶金煤）、Dawson（冶金煤和动力煤）

和 Callide（动力煤）。Drayton（冶金煤）位于新南威尔士

州的猎人谷。这些煤矿位置极佳，可直接连通达尔林普尔湾、

格拉德斯通港及纽卡斯尔港的铁路和港口。

冶金煤

财务概要

Financial highlights

单位：百万美元（特别声明除外）

$ million (unless otherwise stated) 2009 2008

营业利润

Operating profit 451 1,110

澳大利亚

Australia 474 1,144

利税折旧摊提前利润

EBITDA706 1,319

净运营资产 Net operating assets

3,407 2,669

资本支出

Capital expenditure96 467

占集团营业利润份额

Share of Group operating profit 9% 11%

占集团净运营资产份额 Share of Group net operating assets

9% 8%

• 2009 年冶金煤产量为 2670 万吨

• 在澳大利亚有六个煤矿（全部控股）

• 资产优化和生产力提高后，2010 年煤产量增长 14%

• 26.7 Mt – Metallurgical Coal attributable production in 2009 • Six mines in Australia (all majority owned)• 14% increase in coal production in 2010 following asset optimisation

and productivity improvements

全球业务分布

Around the world

30

25

20

15

10

5

0

冶金煤 / Metallurgical coal动力煤 / Thermal coal

05Year 09080706

冶金煤业务煤炭产量（百万吨）Metallurgical Coal production (Mt)

冶金煤业务产量潜力* / Metallurgical Coal potential attributable production* (百万吨 / Mt)

F

30354045

2520151050

09Year 13121110 F

来自：英美资源 *包括来自澳大利亚的冶金煤和动力煤Source: Anglo American* Includes metallurgical and thermal coal from Australia.

现有及批准项目 / Existing and approved未批准项目 / Major unapproved growth pipeline十年以上产量展望Forecast conceptual production 10+ year outlook

163

4

2

图例 / Key

地下开采 / Underground

露天开采 / Open Cut

其他 / Other

澳大利亚 / Australia

动力煤 / Thermal

冶金煤 / Metallurgical

1

2

3

4

5

6

7

100%

88%

51%

70%

70%

23%

88%

Callide

Drayton

Dawson Complex

Foxleigh

German Creek (CapCoal)

Jellinbah

Moranbah North

75

Metallurgical Coal is Australia’s fourth largest producer of coal and its number three exporter of metallurgical coal. The company’s operations are based relatively close to the country’s east coast, from where it serves a range of customers throughout Asia and as far as Europe and South America.

Metallurgical Coal operates six mines, one wholly owned and five in which it has a controlling interest. Five of the mines are located in Queensland’s Bowen Basin: Moranbah North (metallurgical coal), Capcoal (metallurgical and thermal coal), Foxleigh (metallurgical coal), Dawson (metallurgical and thermal coal) and Callide (thermal coal). Drayton mine (thermal coal) is in the Hunter Valley in New South Wales. All of the mines are in well established locations and have direct access to rail and port facilities at Dalrymple Bay, Gladstone or Newcastle.

30 31

Therm

al Coal

Business overviewIn South Africa, Thermal Coal owns and operates nine mines and has a 50% interest in the Mafube colliery and Phola washing plant. Five of the mines together supply 22 Mtpa of thermal coal to both export and local markets. New Vaal, New Denmark and Kriel collieries are domestic product operations supplying 32 Mtpa of thermal coal to Eskom, the state-owned power utility. Isibonelo mine produces 5 Mtpa of thermal coal for Sasol Synthetic Fuels, the coal to liquids producer, under a 20 year supply contract.

Anglo Inyosi Coal, a broad-based black economic empowerment (BEE) company valued at approximately $1 billion, is 73% held by Anglo American, with the remaining 27% held by Inyosi. Anglo Inyosi Coal, in turn, holds Kriel colliery, the new Zibulo multi-product project (previously known as the Zondagsfontein project) and the greenfield projects of Elders, New Largo and Heidelberg.

Thermal Coal’s South African operations currently route all export thermal coal through the Richards Bay Coal Terminal (RBCT), in which it has a 27% shareholding, to customers throughout the Med-Atlantic and Asia-Pacific regions.

业务概况

英美资源集团的动力煤业务在南非拥有并经

营九个煤矿，同时持有 Mafube 煤矿和 Phola

选煤厂 50% 的股权。其中五个煤矿每年共供

应 2200 万吨动力煤，用于出口和当地市场。

新瓦尔河、新丹麦和 Kriel 这三个煤矿每年向

南非国家电力公司（Eskom）提供 3200 万吨

动力煤。基于 20 年的合同，Isibonelo 煤矿每

年向煤炭液化生产商萨索公司供应 5 百万吨

动力煤。

英美资源 Inyosi 煤炭公司是一家黑人经济振

兴 计 划（BEE） 公 司， 公 司 价 值 约 10 亿 美

元。英美资源集团持有其 73% 的股份，剩余

的 27% 则为 Inyosi 持有，Inyosi 是一家基于

BEE 的企业联合体。 同样，英美资源 Inyosi

煤炭公司也在 Kriel 煤矿、新的 Zibulo 多产品

项目（即以前的 Zondagsfontein 项目），以

及 Elders、New Largo 和 Heidelberg 的 新 建

项目中持有股份。

目前，动力煤业务的南非运营项目都通过理查

德湾煤炭码头出口动力煤到地中海大西洋地区

和亚太地区。英美资源动力煤业务还持有该码

头 27% 的股份。

在南美洲，英美资源公司拥有 Cerrejón 煤矿

33.3% 的股权，Cerrejón 项目是哥伦比亚一个

露天煤矿，产能为每年 3200 万吨（归属英美

资源集团部分为每年 1070 万吨）。Cerrejón

项目拥有并运营自己的铁路和深水港设施，出

口至国外的动力煤和喷吹煤市场。

战略和增长

动力煤业务的发展战略为利用大型低成本煤田

为发电和工业领域服务。动力煤业务部门在南

非和南美均有多样化、高质量的资产组合，旨

在成为长期的、可靠的供应商。同样，该业务

也力争在寻求满足世界能源需要的清洁煤炭技

术开发中处于领先地位。

动力煤业务注重增强其在出口市场上的优势地

位，同时也力求保持其在南非国内市场的重要

位置。这一战略通过广泛的项目扩建计划贯彻

实施，并得到有针对性的收购活动的支持。不

仅如此，公司还基本完成了包括 Cerrejón 项目

扩建和 Zibulo 项目开发在内的重要投资计划。

动力煤业务在现有地域内继续保持增长，并通

过一系列项目开发寻求发展机遇，这些项目为

企业带来了潜在的更广阔的能源市场机会。动

力煤业务同时还在煤炭领域打造企业核心竞争

力，即南非和博茨瓦纳的煤层气勘探。虽然这

些项目仍处于初期，投资力度大，但它们使动

力煤业务在应对市场长期需求时具有灵活性。

中国业务

近年来，英美资源为中国这一全球主要的煤炭

消费国提供高质量动力煤。

动力煤ThermalCoal

动力煤

In South America, Anglo American has a 33.3% shareholding in Cerrejón, a 32 Mtpa capacity (10.7 Mtpa attributable) opencast operation in Colombia. Cerrejón owns and operates its own rail and deep water port facilities and sells into the export thermal and PCI coal markets.

Strategy and growthThermal Coal’s strategy is focused on serving the power generation and industrial sectors from large, low cost coal basins. The business unit has a diverse, high quality asset portfolio in South Africa and South America and aims to be a long term, reliable supplier. It also strives to be an industry leader in the pursuit of cleaner coal solutions to the world’s energy needs.

Thermal Coal is focused on expanding its strong standing in the export market, while maintaining a significant position in the domestic market in South Africa. This strategy will be delivered through its extensive portfolio

of expansion projects, supported by targeted acquisitions. In addition, it has substantially completed a major programme of investment, which includes expansions at Cerrejón and the development of Zibulo.

Thermal Coal continues to develop operations in its existing geographies and to pursue business development opportunities in a range of projects that offer potential exposure to the broader energy markets, while building on the business’s core capability in coal, namely CBM exploration in South Africa and Botswana. Although these projects remain at an early stage and have demanding economics, they ensure that Thermal Coal is equipped with a diverse range of options to meet changing market demands over the long term.

China businessAnglo American has supplied its high quality thermal coal to China – the world’s leading consumer of coal in recent years.

Goedehoop 煤矿Goedehoop colliery

Greenside 煤矿Greenside colliery

Mafube 煤矿Mafube colliery

32 33

Therm

al Coal

动力煤业务综述

Thermal Coal summary

位于南非和哥伦比亚的英美资源集团的动力煤

业务，以多样化高质量的资产组合为特点，旨

在成为可靠的动力煤长期供应商。

Anglo American’s thermal coal business, with operations in South Africa and Colombia, features a diverse, high quality asset portfolio and aims to be a long term, reliable supplier of thermal coal.

• 2009 年动力煤产量为 6930 万吨

• 在南非全资拥有九个矿山

• 投资 5.12 亿美元的 Zibulo 项目将于 2012 年

全面投产

• 69.3 Mt 2009 production of thermal coal

• Nine wholly owned mines in South Africa

• $512 m – cost of Zibulo project due to fully

come on stream in 2012

财务概要Financial highlights

单位：百万美元（特别声明除外）

$ million (unless otherwise stated) 2009 2008

营业利润

Operating profit 721 1,078

利税折旧摊提前利润

EBITDA875 1,200

净运营资产 Net operating assets

1,707 1,018

资本支出

Capital expenditure400 365

占集团营业利润份额

Share of Group operating profit 15% 11%

占集团净运营资产份额 Share of Group net operating assets

4% 3%

动力煤

807060

50

40

30

2010

0

05Year 09080706

Eskom

动力煤业务煤炭产量（百万吨）Thermal Coal production (Mt)

贸易 / Trade – 南非动力煤 / Thermal South Africa贸易 / Trade – 南非冶金煤 / Metallurgical South Africa贸易 / Trade – 南非动力煤 / Thermal South America

现有及批准 / Existing and approved主要未批准项目增长空间 / Major unapproved growth pipeline10年以上产量预测 / Forecast conceptual production 10+ year outlook

80

100

Year

60

40

20

0

09 11 12 1310 F

F

动力煤业务潜在产量 / Thermal coal potential attributable production (百万吨 / Mt)

来源: 英美资源Source: Anglo American

全球业务分布

Around the world

1

2

3

4

5

6

南非 / South Africa

Eskom电力公司及国内其它地区Eskom / Other domestic

11

3

9 86

1

2 104

5

7

7

8

9

10

11

出口/工业用煤 / Export / Industrial

Goedehoop

Greenside

Kleinkopje

Landau

Richards Bay Coal Terminal

Zibulo

Kriel

New Denmark

New Vaal

Mafube

Isibonelo

100%

100%

100%

100%

27.5%

73%

100%

100%

50%

100%

在南非，年产能为 660 万吨的 Zibulu 项目正在

建设中，该项目包含一个与必和必拓公司合资的

洗煤厂。项目将于 2012 年满负荷运转。

In South Africa, the 6.6 Mtpa Zibulu project is under construction and includes a joint venture coal washing plant with BHP Billiton. The project is planned to reach full production in 2012.

在哥伦比亚，Cerrejón 项目扩建已于 2009 年完

成，使年产能增加到 3200 万吨。将年产能扩至

4000 万吨的可行性研究正在进行中。

In Colombia, expansion of the Cerrejón project was successfully completed in 2009, increasing the mine’s capacity to 32 Mtpa. Feasibility studies are under way to expand the operation to 40 Mtpa.

1

南美 / South America

Cerrejón (哥伦比亚 / Colombia)33% 1

图例 / Key

地下开采 / Underground

露天开采 / Open Cut

其他 / Other

34 35

业务概况

2009 年 10 月业务重组后，英美资源集团建立

了更为精简高效的管理层结构，并进一步将业

务重心放在其核心矿业领域。

此次业务重组决定成立集团七大核心业务部门，

并剥离非核心业务。确定要剥离的资产包括：

• 泰玛士公司

• Scaw 金属公司

• Copebrás（巴西磷肥厂）

• Catalão（铌铁生产项目）

• 集团的锌资产

• 位于加拿大和委内瑞拉的煤炭业务

这些资产总额大约占 2009 年息税折旧摊提前

利润的 13%。

泰玛士公司

泰玛士公司是一家重型建材的国际生产商。在

英国是石料、沥青、砂浆和预拌混凝土市场的

领先公司，拥有大型的混凝土制品、石灰及水

泥工厂。泰玛士在欧洲大陆和中东地区也有运

营业务，主要包括：碎石、沙子、砾石、沥青、

预拌混凝土以及混凝土制品。

在中国浙江省湖州市，泰玛士拥有一家石灰石

采石场，距离上海两个小时车程，能够很好的

服务于上海市场。

Copebrás 公司

Copebrás 是一家位于巴西领先的磷肥和磷酸

生产商，英美资源集团拥有其 73% 的股份。

Copebrás 在戈亚斯州的 Ouvidor 有一个磷矿和

选矿厂，且在圣保罗州的桑托斯港口附近的库

巴唐拥有一家选矿厂。

铌业务

英美资源集团的全资铌矿 Mineração Catalão位于巴西戈亚斯州，是世界三大铌矿之一。

财务概要Financial highlights

单位：百万美元（特别声明除外）$ million (unless otherwise stated) 2009 2008

营业利润Operating profit 506 1,082

泰玛士 (Tarmac) Tarmac 101 229

锌 Zinc 175 136

Scaw 金属公司 Scaw Metals 131 274

Copebrás 公司 Copebrás (40) 217

Catalão 公司 Catalão 106 78

煤炭——美洲 Coal – Americas (8) 29

其它 Other 41 119

利税折旧摊提前利润 EBITDA 878 1,513

净运营资产Net operating assets 5,029 5,231

资本支出Capital expenditure 268 603

占集团营业利润份额Share of Group operating profit 10% 11%

占集团净运营资产份额Share of Group net operating assets 13% 16%

其它矿业和工业

Other M

ining and Industrial

• Skorpion 锌矿的年产量创记录达 15. 04 万吨

• 2009 年英美资源集团锌矿年总产量为 35 万吨

• 2009 年 Scaw 金属公司年钢铁产品总产量

为 140 万吨

• 150.4 kt of zinc from Skorpion – a record production year

• 350 kt total Group zinc production in 2009• 1.4 Mt – output of steel products at Scaw

Metals in 2009

其它矿业和工业业务综述

Other Mining and Industrial

summary其它矿业和工业Other Mining and Industrial

Business overviewWith the restructure of our business in October 2009, Anglo American created a more streamlined management structure with further focus on its core mining portfolio.

These changes saw the creation of our seven core business units and the decision to divest non-core assets. At the time of restructuring the Group determined that the following assets were to be divested:

• Tarmac• Scaw Metals• Copebrás• Catalão• The Group’s portfolio of zinc assets• Coal operations in Canada and Venezuela

These assets accounted for approximately 13% of 2009 Group earnings before interest, tax, depreciation and amortisation.

TarmacTarmac is an international heavy building materials producer. In the UK it is a market leader in aggregates, asphalt, mortar and ready-mixed concrete, with significant operations in concrete products, lime and cement. It has operations in continental Europe and the Middle East producing crushed rock, sand and gravel, asphalt, ready-mixed concrete and concrete products.

In China Tarmac has a limestone quarry operation in Huzhou, Zhejiang Province, some two hours’ drive from Shanghai, well placed to serve the Shanghai market.

CopebrásAnglo American has a 73% interest in Copebrás, a leading producer of phosphate fertilisers and phosphoric acid in Brazil. It operates a phosphate mine and processing plant at Ouvidor in the state of Goiás and a processing plant in Cubatão near the port of Santos in the state of Sao Paulo.

NiobiumAnglo American’s wholly-owned niobium mine, Mineração Catalão de Goiás, in Brazil is one of the three principle producers of niobium in the world.

泰玛士位于浙江省的湖州采石场Tarmac's Yang Quarry in Huzhou, Zhejiang

36 37

勘探Exploration

简介

英美资源集团的勘探工作遍及世界各地，从完

全未开发的地区到更成熟的“绿地”区域，以

及集团各矿区附近的“棕地”。集团的地质科

学工作者正在积极找矿和评估矿产资源，以寻

找潜在的收购和合作机会。

全球勘探

2009 年，英美资源的团队继续对新发现的矿区、

独资和合作项目进行深入勘探。英美铂金公司

在 2009 年用于勘探的资金达 1700 万美元，主

要用于地质信息和降低现有项目的资源风险。

公司的海外勘探项目也在进行，这些项目分布

在巴西、加拿大、俄罗斯和津巴布韦。

集团的铜矿勘探投入了 4300 万美元，重点放

在智利铜矿的周边地带。镍矿的勘探花费为

2200 万美元，目的是增加后续项目，同时在

芬兰的镍铜矿勘探工作也在继续进行。铁矿石

的勘探主要集中在巴西的 Minas Rio 项目和库

博公司在南非的铁矿石项目。

煤炭勘探的花费为 3500 万美元，主要用于在

南非、博茨瓦纳、澳大利亚和加拿大评估和扩

大煤炭资源量，包括供出口的动力煤和冶金煤

以及当地使用的动力煤和煤层气。锌矿勘探

的花费为 1000 万美元，勘探活动包括纳米比

亚新近发现的矿藏、爱尔兰现有锌矿周边的勘

探项目，以及南非甘斯堡（Gamsberg）East Zinc 锌矿项目的进一步勘探。

IntroductionAnglo American continued its global exploration activities in a range of frontier areas to more mature greenfield locations, as well as in brownfield environments in close proximity to the Group’s existing operations. The Company’s exploration geoscientists are also involved in the identification and evaluation of properties for potential acquisition or alliance opportunities.

Global explorationIn 2009, Anglo American teams continued to further explore recent discoveries, sole funded

（1）根据 2009 年 10 月公布的投资组合和管理结构的变化，勘探费用按照矿产类别计算。为了与当年报告一致，已对比进行了

重新分类。

(1) Following the portfolio and management structure changes announced in October 2009, exploration expenditure is

presented by commodity. Comparatives have been reclassified to align with current year presentation.

北京全球采购中心是英美资源集团北京代表处

的部门。集团正在进行的全球采购战略改革计

划使北京全球采购中心进一步加强了其重要地

位。它的设立为中国以外的各业务部门和公司

提供中国产品和服务的信息，并通过以下主要

方式推动集团在中国的采购：

• 制定中国采购战略，使每年中国采购目标不

断增长

• 市场分析、寻找、审核并推荐潜在的供应商

• 协助集团与供应商之间的商务谈判

• 产品与服务的质量控制及交付管理

业务增长机会

英美资源集团相信，中国巨大的工业基础能够

同时给英美资源集团和中国生产企业带来实质

的业务增长机会。通过北京全球采购中心，英

美资源集团能够得到中国高性价比高质量的产

品。另一方面，中国的供应商也可以更深入地

了解英美资源集团的全球采购要求，并为双方

带来商业利益。

采购不忘与供应商一起关注社会责任：

• 改进安全措施

• 改善工作场所条件

The Beijing International Procurement Office (IPO) is part of the Anglo American Beijing Representative Office. The company-wide launch of a global procurement restructuring programme has further strengthened the Beijing IPO's position. The Beijing IPO is well placed to provide valuable China sourcing information to Group companies and to promote procurement by:

• Establishing a China sourcing strategy which facilitates sustainable growth for the foreseeable future

• Market analysis and identifying, verifying and recommending potential suppliers

• Assisting with Group negotiations with suppliers

• Managing quality control and delivery of products and services

全球采购中心中国办公室The China International Procurement Office (IPO)

Business improvement opportunitiesAnglo American believes that China’s vast industrial base offers substantial business improvement opportunities for both the Anglo American Group and Chinese manufacturers. Through the Beijing IPO, the Anglo American Group can access China’s cost-effective, quality products, and Chinese manufacturers can access Anglo American’s global purchasing requirements, resulting in business advantages for both.

Linking procurement to social contribution, the Beijing IPO is working with suppliers to:• Improve safety practices• Upgrade workplace conditions• Recognise environmental protection by

establishing long-term trading partnerships with Chinese suppliers

The Beijing IPO will continue to work with suppliers to encourage and assist in improved business practices that would result in benefits for all stakeholders.

• 在与中国供应商建立长期的贸易合作关系的

过程中提高环保意识

北京全球采购中心将继续与供应商共同倡导更

好的商业惯例，并在这方面提供帮助，这将有

利于所有的利益相关者。

勘探与采购

百万（美元）US$ million 2009 2008

分类矿产品（1）By commodity (1)

铂族金属 Platinum group metals 17 36

铜Copper 43 60

镍Nickel 22 20

铁矿石Iron ore 8 18

冶金煤Metallurgical coal 10 17

动力煤Thermal coal 25 18

锌Zinc 10 8

中心勘探工作 Central exploration activities 37 35

总计Total 172 212

勘探费用Exploration expenditure

Exploration

& P

rocurement

projects and alliances with other companies. Anglo Platinum incurred exploration costs of $17 million during 2009, with a specific focus on supplying geological information and mitigating resource risk on current operations. Foreign exploration continued in 2009, with projects in Brazil, Canada, Russia and Zimbabwe.

Copper exploration across the Group totaled $43 million with focused exploration around its Chilean copper mines. Nickel exploration of $22 million was incurred strengthening the project pipeline, with continued work around a nickel-copper discovery in Finland. Iron

Ore exploration was principally at the Minas Rio project in Brazil and the Kumba Iron Ore projects in South Africa.

Coal exploration expenditures of $35 million were concentrated on evaluating, assessing and extending resources for export thermal and coking coal, domestic thermal coal and coal bed methane (CBM) in South Africa, Botswana, Australia and Canada. Zinc exploration expenditures of $10 million were incurred relating to exploration conducted on a recent discovery in Nambia as well as works adjacent to operations in Ireland and advanced project works at the Gamsberg East Zinc project in South Africa.

戴比尔斯在其位于加拿大西北省的 Snap Lake 矿附近进行勘探，该矿于 2008 年开始运营De Beers prospecting for diamonds close to its Snap Lake mine, opened in 2008in Canada's Northwest Territories

研磨介质Grinding media

38 39

英美资源和安全Anglo American and safety

* LTIFR 即因工伤损失工时率，此处数据为每

20 万工作小时因事故受伤人数

LTIFR is short for lost time injury frequency rate. Data here refers to lost-time injuries per 200,000 hours worked

** FIFR 即因工事故死亡率，此处数据为每

20 万工作小时因事故死亡人数

FIFR is short for fatal injury frequency rate. Data here refers to fatal injuries per 200,000 hours worked

Safety remains Anglo American’s number one priority. Everyone who works at Anglo American has the right to return home injury free and the Company’s role is to make this a consistent reality. The Group’s vision is to eliminate fatal and other injuries in the workplace, thus achieving zero harm. During 2010, 14 people lost their lives on Company business. While any loss of life is unacceptable, this nevertheless represents an encouraging 30% improvement on 2009 (20). The Group’s fatal injury frequency rate

安全向来是英美资源首要关注的问题。下班后

安全回家是每名员工的权利，也是公司的责

任。因此集团的目标是消除工作场所的死亡及

工伤事故。2010 年，公司因公伤死亡人数为

14 人，相比 2009 年的 20 人，安全记录提高

了 30%，当然，任何生命的损失都是不可接

受的。公司的致命伤害率（FIFR）从 2009 年

的 0.010 减少到到 2010 年的 0.008，降低了

20%。英美资源 2010 年的因工伤损失工时率

（LTIFR）继续保持了下降的趋势，达到 0.58，

相比 2009 年的 0.76 下降了 24%。

《英美资源安全之路》

《英美资源安全之路》详细规定了公司的安全

目标、原则、政策及安全管理体系标准。该系

统由一系列安全指导原则和致命风险标准组

成，并概述了集团领导层和业务部门的要求。

2009 年，约 2300 位员工接受了曾获奖项的安

全风险管理培训，使得这一培训的总人数达到

了 3600 人。英美资源通过努力，进一步提高

了该系统、流程和程序的标准化及一致性，并

将在2010年底形成了一套完整的全球性安全、

健康和环保管理体系。

英美资源安全在中国

在中国，我们采用和英美资源集团在其他地区

一样的管理方法和政策。我们在中国有 300 名

员工，其中多数都在东部地区的采石场工作。

(FIFR) also showed a 20% improvement from 0.010 in 2009 to 0.008 in 2010. Anglo American’s 2010 lost time injury frequency rate (LTIFR) of 0.58 has continued its downward trend, showing a 24% year-on-year improvement (2009: 0.76).

The Anglo American Safety WayThe Anglo American Safety Way details the Company’s safety vision, principles, policy and safety management system standards. It is complemented by a concise set of safety golden rules and fatal risk standards, and outlines what is expected of the Group’s leadership and its operations. During 2009, some 2,300 people received training on the company’s award winning safety risk management programme, bringing the total since inception to 3,600. Anglo American continued to drive further standardisation and consistency of systems, processes and procedures by consolidating them into a single integrated global safety, health and environment management system at the end of 2010.

Anglo American safety in ChinaThe Anglo American China office has adopted the same management practices and policies as elsewhere in the Anglo American Group. Anglo American has 300 employees in China, many of whom are working in the quarry in the east of the country.

Health in Anglo American has a broad focus and, depending on the country of operation, ranges from complete medical care through to engineering and design of the workplace. At all operations there are wellness programmes aimed at keeping people healthy and improving their health. Anglo American’s occupational health programmes cover all our employees and are aimed at preventing occupational disease through prevention of exposure at source. This involves input from a number of experts, including occupational hygienists, engineers and medical doctors.

Anglo American continues to be a leader on the HIV/AIDS front. The thrust of the Company’s HIV/AIDS response continues to be early diagnosis and early access to treatment, coupled with intensive HIV-prevention campaigns and, in many instances, compulsory individual HIV counselling.

The Anglo American Beijing Office held an HIV/AIDS awareness training session in Beijing in January 2010 with not only staff

英美资源对健康的承诺Anglo American’s commitment to health

英美资源全面地关注健康，从提供整体医疗保

健到其运营业务工作场所的工程设计。英美资

源在其所有的工作场所均有健康计划以保障及

改善员工的健康。英美职业健康计划覆盖所有

员工，旨在通过对源头的把控来预防职业病。

该体系吸收了很多职业卫生、工程和医疗等方

面的专家的意见。

英美资源将继续成为抗击艾滋病方面的领先公

司，积极对抗艾滋病，致力于早期诊断、早期

治疗、加强预防，及义务提供个人艾滋病心理

辅导。

英美资源北京代表处于 2010 年 1 月份举行了

预防艾滋病知识培训，来自北京及其他相关公

司，包括永恒印记 Forevermark 和六元素公

司的人员参加了此次培训。作为“全球抗击

艾滋病 / 艾滋病病毒、肺结核和疟疾企业联合

会”（GBC）的主要合作伙伴，英美资源中

国积极参加了 GBC 举行的各种活动，包括于

2010 年 11 月在北京举行的“北京艾滋病高校

辩论会”。

from Beijing attending but also people from associate companies, including Forevermark and Element Six. The Anglo American Beijing Representative Office is a major corporate partner of the Global Business Coalition (GBC) and actively participates in various GBC projects, including the Beijing College Debate Competition on HIV/AIDS, which took place in November 2010.

可持续发展

Sustainability

1.0

1.2

0.8

0.6

0.4

0.2

0

0.025

0.03

0.02

0.015

0.01

0.005

0

Year 09 10080706

LTIFR*

LTIFR

FIFR**

FIFR

英美资源集团安全绩效Anglo American safety performance

注：2003年英美资源对因工伤损失工时报告的标准设定更加广泛，涵盖了严格的工作情景。这项制度在2006年开始全面实施。Note: The basis for reporting LTIs became more inclusive in 2003 when Anglo American began to include restricted work cases as LTIs. This was fully implemented by 2006.

Greenside 动力煤矿员工Goedehoop colliery employees

英美资源北京代表处工作人员与受艾滋病病影响的儿童一起爬长城Anglo American Beijing staff and the HIV affected children at the Great Wall

2010 年英美资源北京代表处举办的防艾培训Anglo American Beijing held an HIV/Aidsprevention training in 2010

40 41

最佳的合作伙伴

高标准地承担社会责任是英美资源集团成功开

发新项目的重要因素，集团因其社区发展计划

在国际上多次获奖。同时，集团也不断提升对

社区的投入力度。 2009 年，公司批准了新的社

会管理标准，并在《英美资源社会之路》（Anglo

American Social Way）上发表。 《英美资源社

会之路》在社会实践的 20 多个方面确立了最低

标准。到 2009 年末，集团所有矿区都完成了社

区发展的自我评估，2010 年所有勘探和开发项

目也进行了这项评估。

中国的社区项目

2010 年 6 月 1 日，在四川省邛崃市水口镇，一

座由英美资源集团出资建设的教学楼正式投入

使用。教学楼具有良好的设施，能够为 1000 名

学生们提供一个现代化的学习环境。该项目是

英美资源集团援建四川地震灾区的三个项目之

一。另外两个项目是：为 405 地质队提供临时

住房，以及为四川省国土资源局捐献 18 辆越野

汽车，用于地质灾害的调查和预防。

2010 年英美资源集团完成了其在陕西榆林孟家

湾和小壕兔乡七个村的社区发展项目。从 2008

年起，英美资源基金会为国际计划组织提供资

金，用于这一地区的社区项目。项目的第一、

第二阶段分别于 2009 年和 2010 年完成，共为

七个村庄的所有家庭建造了 800 个卫生厕所、

五个灌溉系统和三个安全饮用水设施。在所有

项目完成之后，村民的生活条件得到了极大的

改善。

同时，英美资源集团在中国的员工一直都在资

助其他公益项目，其中值得一提的是太阳村的

儿童之家项目。

Partner of choiceAnglo American’s ability to manage community issues to a high standard continues to be an important factor in delivering on its projects. The Company continues to win numerous awards for its community development programmes and is maintaining its investment in raising standards across the Group. During 2009, the Company’s new social management standards were approved and published in the Anglo American Social Way. The Social Way sets minimum standards across more than 20 dimensions of social performance. A self-assessment process was completed across all current mining operations at the end of 2009, a process that will be repeated for exploration and development projects during 2010.

Community development in ChinaOn 1 June 2010, a new school donated by Anglo American to Shuikou town, Qionglai, in the Sichuan earthquake area was opened. This new building has excellent facilities, and provides a modern learning environment for 1,000 students. This is the third of Anglo

American’s three aid projects for the area affected by the earthquake. Two other projects for the area included the construction of temporary houses for the 405 Geological Team and the procurement of 18 cross-country vehicles for the Sichuan Land and Resources Bureau in order to improve the management of future geological disasters.

Anglo American has also completed a community development project in the seven villages in the Mengjiawan and Xiaohaotu Townships in Yulin in Shaanxi province. Since 2008 the Anglo American Foundation has provided funds to Plan International’s projects in the area. The first and second phases were completed in 2009 and 2010. Altogether over 800 sanitary latrines were built for each household in the seven villages, five irrigation systems were installed and three safe drinking water facilities were constructed. After the completion of the projects, the villagers’ living conditions were greatly improved.

Anglo American staff members in China have also continued to support other charities, notably the children’s home at Sun Village.

英美资源和社区Anglo American and the community

英美资源致力于降低其业务对生态环境造成

的影响，并同时发掘其出产的矿物蕴含的可

持续发展价值，从而造福于社会。完成这一

使命的重要内容就是在对抗贫困和创造健康

环境之间找到平衡。为了鼓励在集团内部使

用统一的方法进行环境管理，公司制定了环

境政策、环境管理框架和详细的硬性环境标

准，这些条款包含在《英美资源环境之路》中，

该制度每年都会接受审核，并且适用于所有

下属企业。

水资源

虽然完成了多次业务收购，但是很大程度上英

美资源集团的总体用水量并没有发生什么变

化。集团的目标是通过“集团水管理”计划不

断改进集团的水源管理。作为《英美资源环境

之路》的一部分，水资源绩效标准也于 2009

年出台。

生物多样性

英美资源集团在几个大洲拥有或使用着大量的

土地，这就意味着土地责任，尤其在像南非和

巴西这种具有高度生物多样性的国家。我们在

2002 年就制定了生物多样化战略，承诺在所

有的工作环节中都积极保护生物多样性。第二

年我们又宣布每一个业务项目都要制定和执行

各自的生物多样性行动计划。

废物管理

采矿活动中不可避免地会产生一些矿物废渣，

如岩石和尾矿以及其它废物。对比以往，我们

现在生产过程中产生的非矿物废物减少很多。

这是因为英美资源正在越来越多地循环使用非

矿物的废物，无论是自己使用还是将其转化为

可再销售的商品。在《英美资源环境之路》中

制定的“矿物质残留、废矿物质废弃物以及有

英美资源和环境Anglo American and the environment

Anglo American aims to reduce the ecological footprint of its business and unlock the sustainable development value inherent in the minerals it produces for the greater benefit of society. An important aspect of this vision is to create synergies between poverty alleviation and a healthy environment. To encourage a uniform approach to environmental management across the Group, corporate environmental policy as well as an environmental management framework and specified mandatory environmental performance standards have been set. These are all included in the Anglo American Environment Way, which is reviewed annually and is applied to all owned and managed operations.

Water Although the Group’s overall water use has remained largely unchanged despite acquisitions, Anglo American aims to improve its performance through the continued implementation of its WaterWays programme. A water performance standard was formally launched in 2009 as part of the global Anglo American Environment Way roll-out.

Biodiversity Anglo American owns or has rights to large areas of land on a number of continents. With these rights come responsibilities. This is particularly the case in South Africa and Brazil – nations rich in biodiversity. We established a biodiversity strategy in 2002 when we committed ourselves to the active stewardship of biodiversity in all phases of our activities. The following year we announced that every operation would develop and implement its own biodiversity action plans.

Waste management Our mining operations inevitably generate mineral waste such as rock and tailings, as well as non-mineral waste. Yet considerably less non-mineral waste is produced in our operations now than ever before, because Anglo American increasingly recycles non-mineral waste wherever possible, either for our own use or by transforming it into commercial commodities. The Anglo American Environment Way’s Mineral Residue, Non-Mineral Waste and Hazardous Substances performance standards define our approach to waste management. Together, they aim to ensure that waste streams are handled responsibly and that the ‘reduce, reuse and recycle’ hierarchy is applied whenever possible.

Energy and climate changeAnglo American recognises that climate change is a serious international and community concern, as well as a risk to our business, and hence we are committed to a 10% reduction in greenhouse gas emissions per unit of production against a 2004 baseline.

害物质作业标准”明确了我们对于废物的管理

方法，并最大限度实现“减排、重复利用和回收”

这一目标。

能源与气候变化

英美资源深刻地认识到气候变化是国际和公众

普遍关注的重要课题，也是公司经营中存在的

潜在风险。英美资源承诺以 2004 年作为基准，

将每单位产品的温室气体排放量减少 10%。

英美资源员工在陕西榆林与村民们在一起Anglo American staff with local residents in Yulin, Shaanxi province

Mototolo 选矿厂Mototolo concentrator

可持续发展

Sustainability

42

英美资源集团联系方式

Anglo American contact details

英美资源集团 Anglo American plc

英美资源集团北京代表处 Anglo American Beijing Representative Office

地址：北京建国门北大街 8 号华润大厦 2104 100005电话：+86 10 6518 8888传真：+86 10 6517 9692网址：www.angloamerican.com.cn

Add: 2104 China Resources Building, 8 Jianguomenbei Avenue Beijing 100005Tel: +86 10 6518 8888 Fax: +86 10 6517 9692Website: www.angloamerican.com.cn

英美资源的可持续发展战略对于公司致力于成

为投资者、合作伙伴和雇员最佳选择这一目标

有着举足轻重的意义。公司长期以来致力于安

全、可持续发展和负责任的生产，并已将其贯

彻到企业经营的方方面面。

《 英 美 资 源 优 秀 企 业 公 民 准 则》 修 订 版 在

2009 年末开始施行。这些准则适用于企业经

营的各个方面和每位员工，并且与英美资源的

运营方式紧密结合。这些准则包括：更加关注

节约用水、气候变化，生物多样性等环境问题；

加强反腐措施、对应对艾滋病做出更多的承

诺、对生活与工作平衡的重视以及推进人才多

样化。2009 年，英美资源在执行环境、安全、

健康、社会的全球标准方面取得了较大的进展。

可持续发展在中国

可持续发展的原则也融入到我们在中国的业务

中。我们承诺和中国公司建立长期可持续的合

作关系。这种合作关系不只局限于在中国的商

业领域，还包括与社区和各级政府在内的各方

面的合作。

Anglo American’s sustainable development performance is fundamental to its investment, partner and employer of choice agenda. The Company is committed to operating safely, sustainably and responsibly and embeds this into every part of its business.

A revised version of Anglo American’s Good Citizenship Business Principles was launched at the end of 2009. These apply to every business and to every employee and are integral to the way Anglo American operates. They include a greater focus on environmental issues such as water conservation, climate change and biodiversity; a reinforced stance against corruption; an increased commitment to HIV/AIDS treatment, the importance

可持续发展Sustainable development

of family life and to a work-life balance; and, to the promotion of diversity. During 2009, considerable progress was made on embedding global standards for environment, safety, health and social issues that are designed to drive performance improvement.

Sustainable development in China These principles are also being implemented in our operations in China. We are committed to building long term and sustainable partnerships with Chinese companies. Such partnerships are not restricted to commercial relationships with Chinese businesses, but go much further to incorporate partnerships with all stakeholders, including communities and government at all levels.

可持续发展

英美铂金员工采集水资源数据Anglo Platinum staff captures water data

Capcoal 煤矿煤层气发电厂Capcoal coal-seam methane-fired power station