CAPCOAL UNDERGROUND OPERATIONSAnalyst & Investor Site Visit – Australia 28 October 2011

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Reserves - Anglo American Share, Excludes Callide

Coal Inventory: Occurrence of coal of economic interest which forms the physical envelope that encompasses a Coal Resource or Coal Reserve, or both, and includes Reconnaissance, Inferred, Indicated and Measured Coal Resources, together with any associated Probable and Proven Coal Reserves.

These data represent tonnage estimates compiled in accordance with the principles and guidelines of the JORC code or NI 43-101 by a Competent (Qualified) Person or Persons.

Due to the uncertainty which may be attached to some Inferred Mineral Resources, it cannot be assumed, but normally would be expected, that a major part of an Inferred Coal Resource will be upgraded to an Indicated or Measured Coal Resource as a result of continued exploration.

DISCLAIMER

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OPERATION OVERVIEWTwo underground mining areas – Aquila and Grasstree

• 70% ownership in joint venture with Mitsui Coal Holdings

• Estimated underground mining coal inventory at Capcoal of 770 million tonnes with reserves of 60 million tonnes

• Key operational data

– Produced 5 Mtpa ROM in 2010 following the closure of the Bundoora mine in 2009

– Prime-quality hard coking coal for export to North Asia, India, Europe and Brazil

– Dry yield is approximately 70% - 72%– Current Life of Mine for Grasstree is to the

end of 2019– The mine depth varies from approx 220m to

400m– Three development units rising to four units.– The seam being mined is the German Creek

upper seam and is approximately 2.6m –3.1m thick

02468

2007 2008 2009 2010

ROM ProductionMt

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Timeline

• 1979 - Capcoal commenced operations• 1999 - Central Colliery commences production• 2001 – Grasstree shaft sinking commenced• 2003 – Grasstree development commenced• 2005 - Bundoora longwall commences operation• 2006 – Grasstree longwall commences and Central

Colliery closed• 2009 - Bundoora longwall closed• 2010 - Aquila bord and pillar commences

HISTORYAcquired by Anglo American in 2000

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LIFTING SAFETY PERFORMANCE

• Key focus areas– Safety leadership acknowledging and re-enforcing

positive safety actions– Major risk management processes and systems to

prevent the risk of fatality or other catastrophic incidents

– Musculoskeletal prevention strategy to prevent injury particularly during manual handling and repetitive strain injuries

• Industry leading mines rescue capability - Grasstreemines rescue team won the EK Healy Cup held at Cook Colliery in Blackwater in September.

Implementing the site Target Zero Action Plan

Capcoal UG Total Recordable Case Frequency Rate

0

2

4

6

8

10

12

2009 2010 2011

TRCFR 10.19 6.87 5.89

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OUR PEOPLE450 Anglo American employees working underground

• 450 full time Anglo American employees with up to 250 contractors

• Managing industry wide challenges:– Flexible work arrangements including FIFO– Developing an accommodation portfolio to meet market

demands– Developing unskilled labour.

• Incentives to attract and retain employees– Attractive shift roster arrangement – Flexible working arrangements including fly in fly out

optimisation– Market related remuneration and retention schemes with

attractive production performance incentive scheme• Supporting sustainable growth of Middlemount community

– Community engagement on needs and priorities, reviewed annually

– Subsidised rates in the Middlemount Township to support community upgrading and improvement ($2m in 2010)

– More than $110,000 invested in the Middlemount community in 2011 through our annual sponsorship program

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ASSET OPTIMISATIONLongwall100 : Targeting 100 operational hours per week in the Longwall

• The Longwall100 project will target longwallperformance by focusing on shift performance, engineering, reliability and development initiatives

• 102.2 cutting hours achieved from Wednesday 8 June through to Wednesday 15 June

• Engineered improvements have been made to the Control Start Transmissions (CST’s), the Armoured Face Conveyor (AFC) and Beam Stage Loader (BSL) chains as well as the Grasstree conveyor system to improve reliability

• Longwall100 will be the launch pad for improvement programs seeking to improve cutting rate (Tons / hour) from 2012 to 2014

Delivered = 81hrs

Mar

11

Jun

11

Aug

11

Jul 1

1

Sep

11

May

11

Apr

11

Feb

11

Oct

11

Cut

ting

hour

s / w

eek

2009 Average = 40.842010 Average = 47.78

2011 LW Move

102.2hr Day1

0

20

40

60

80

100

120

1 102.2 hours achieved over 7 day period not coinciding with reporting weeks. Actual for reporting week (Mon – Sun) was 96 hours.

December 2011 Target

Cut

ting

hour

s / W

eek

120

110

100

90

80

70

60

0

Shift PerformanceReengineeringReliability

LW100 Program Hourly Benefits

2011 Longwall Cutting Hours

2011 to 2014

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BUSINESS PLANDeliver the Longwall100 project while setting the benchmark for our growth projects

• Longwall100 project enables 100 cutting hours per week over the next 3 years

• Incremental improvements in mining rate (Tonnes / hour) from 2012 to 2014

• Longwall system constraints lifted to support the increase in production rate over the business plan period

– Increased gas management investments

– Increased development resources

– Conveyor system capacity improvements

0

1

2

3

4

5

6

7

8

2008 2009 2010 2011 2012 2013 2014

ROM Production

* Bundoora Mine closure 2009

Mt

THANK YOU